In the recent past, you have wished and been wished a happy new year. When was the last time someone wished you happy new product? In case you have to stretch your memory about your last new product launch, chances are your products are dated! Let’s take a sock manufacturer as an example. Say, they have been happy with their business as the local market they have been supplying to has been kind to them. Business is steady and profits are healthy. They are unlikely to innovate, presumably somewhat oblivious that they are indeed part of the booming worldwide socks market. As retailers and e-tailers look for fresh new products to woo their customers, this sock manufacturer is likely to take a back seat. On the global scene, the socks market is one of the fastest growing segments of the apparel industry with a compound annual growth rate of 8.5% at present. By 2023, the global socks market is estimated to be worth around the $11.6 billion mark. Specialty socks, athletic s... Read more
Pinakin Chaubal holds Master’s degrees in Management and Textile Engineering. He has been a long time assessor for NATA ISO 17025 laboratory accreditation and has contributed to the review and drafting of several Australian, Joint Australian / New Zealand and International Standards on textiles, clothing and footwear. Global brands like H&M, Zara and most others are getting settled in India at an unprecedented rate. In fact, it’s more a case of who hasn’t entered the zoo, rather than who has. Global selling platforms like amazon.com have been successfully wooing Indian suppliers. Historically price sensitive apparel products like inner ware are moving to brand sensitive categories in the minds of local consumers. Now where does all this leave your product? At the centre stage! In this competitive market, if your product does not take the centre-stage, it will lag, struggle for a while and may eventually suffer from severe competitive arrest. Brand ma... Read more
Recently released statistics by the CCF Group indicate, textile and apparel shipments of Southeast Asian countries rose in value and... Read more
India’s cotton consumption is likely to exceed its current crop this season. Consumption is likely to reach 360 lakhs bales... Read more
The fashion industry is facing numerous challenges across countries. These include obstacles in delivery of in-demand products from suppliers. Also,... Read more
Traditionally, the global hub of garment production, Asia continues to maintain its dominance across the world. However, off late, the... Read more
Textile recycling industry is expected to provide social, economic and environmental benefits to around €4.5 billion by 2030. It would... Read more
ITMF will hold the physical edition of its annual conference after a gap of three years from September 18-20, 2022... Read more
Luxury has just become more expensive, says a new report by Edited. Prices of luxury fashion products have surged 7... Read more
The economic sanctions on Russia following its war with Ukraine are making business difficult for many fashion brands in Italy... Read more
With brands compelled to deal with issues like rising inventory costs and changing customer preferences, the first quarter of the... Read more
Against its earlier prediction of cotton production reaching 323.63 lakh bales of 170 kg each, during the 2021-22 season, Cotton... Read more