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Nike quarterly profit down 11 per cent

Nike quarterly profit down 11 per cent

    Nike has to walk its talk of “Just Do It” as it witnesses an 11 per cent slide in profits from December 2022 to February 2023, compared to the same period 12 months ago. As it reported a profit of $1.2 billion the stated three-month period, robust popularity contributed towards it but pr... Read more

Retail discount schemes seesaw in impending recession markets

Retail discount schemes seesaw in impending recession markets

  To give or not to give, is the question that retailers and brands across all apparel categories are asking when it comes to giving discounting schemes to clear inventories piled up during the Covid years as well as to tide over the impending recession. As no two downturns are exactly alike, all branded se... Read more

Purchasing power of Gen Z consumers determine fashion trends today

Purchasing power of Gen Z consumers determine fashion trends today

    Almost 25 per cent of global population fall under GenZ category consumers. In developed countries as well as in urban pockets of emerging economies like India, Gen Z has the unique advantage of being the first generation of digital natives who are supremely confident of themselves and are genuinely... Read more

Resale fashion ready to close the circularity loop

Resale fashion ready to close the circularity loop

    The once looked-down upon as the poor woman’s go-to, second hand fashion is no longer the poor country cousin but all the rage as societal changes are amply clear about today’s aware and evolved consumers habits, their relationship with ownership of material things and their buying behav... Read more

Pakistan struggles for renewal of EU’s GSP Plus scheme

Pakistan struggles for renewal of EU’s GSP Plus scheme

    Pakistan, a significant beneficiary of the European Union’s GSP Plus scheme, is finding it tough to secure renewal for the next period starting 2024. GSP Plus booster for exports The GSP Plus is a special incentive arrangement for sustainable development and good governance and Pakistan has ... Read more

SHEIN faces multiple accusations in US, South Africa of using slave labor a…

SHEIN faces multiple accusations in US, South Africa of using slave labor and evading tariffs

    A coalition named "Shut Down SHEIN" is running a campaign to raise awareness of Shein's alleged human rights abuses and questionable business practices. Shein is a fast-fashion company based in China, claimed to have with links to TikTok and the Chinese Communist Party. The campaign's objective is ... Read more

Right merchandising can help fashion brands succeed in today’s uncertain en…

Right merchandising can help fashion brands succeed in today’s uncertain environment: McKinsey

    “Great merchandising, like great value, never goes out of fashion. In a dynamic and increasingly digital apparel, fashion, and luxury market, companies that get merchandising right tend to outperform their peers,” says McKinsey. In their article ‘Great merchandising never goes out ... Read more

Proposed mega textile parks a potential game-changer for India's textiles i…

Proposed mega textile parks a potential game-changer for India's textiles industry

    The government’s decision of setting up seven Mega Integrated Textile Region and Apparel parks across the country will boost India’s textile industry and take it to the next level. The initiative aims to create world-class facilities, state-of-the-art infrastructure and an integrated val... Read more

As Sri Lanka’s apparel workers face lay-offs, brands need to take responsib…

As Sri Lanka’s apparel workers face lay-offs, brands need to take responsibility

     Yohan Lawrence, Secretary General, Joint Apparel Association Forum (JAAF), Sri Lanka, is optimistic the country can increase its annual apparel export revenue by at least $500 million if they are allowed to export more items to India. Indeed, Sri Lanka’s apparel manufacturers have succes... Read more

India’s fashion retail segment poised for good growth with return to normal

India’s fashion retail segment poised for good growth with return to normal

    Finally India’s fashion retail can look ahead with more optimism as the sector is expected to see good double digit sales growth in FY23. As per a report by credit rating agency ICRA, rising discretionary spending and normalisation of store operations post pandemic, India’s fashion retai... Read more

Global inflation hits some countries harder

Global inflation hits some countries harder

    Top apparel exporters have been hit badly by ongoing inflation and unstable prices across the globe.Retail outlets are finding it tough to pay electricity bills,shipping charges and other logistics. At the same time, food prices have almost doubled leaving consumers cash-strapped in many countries a... Read more

February sees US apparel store sales grow as India’s exports share rise: Wa…

February sees US apparel store sales grow as India’s exports share rise: Wazir Advisors

    Despite inflationary pressures, monthly apparel store sales in the US for February 2023 recorded a 13 per cent increase to reach an estimated $14.9 billion compared to the same month of 2022. In 2022, sales were 7 per cent higher than in 2021. This was revealed in Wazir Advisors March 2023 ‘Ap... Read more

Report on environmental cost of online’s free returns policy in UK released

Report on environmental cost of online’s free returns policy in UK released

  According to a report by the British Fashion Council's Institute of Positive Fashion, “Solving fashion’s product returns: How to keep value in a closed-loop system”, outlines a framework of recommendations to address the issue. The report highlights the need for the fashion industry to t... Read more

Global ethnic wear market to reach $177.2 Billion by 2031, driven by rising…

Global ethnic wear market to reach $177.2 Billion by 2031, driven by rising demand for fusion wear and Mix-and-Match styles

  The global ethnic wear market is expected to reach $177.2 billion by 2031, growing at a CAGR of 7.2 per cent from 2022 to 2031, according to a new report published by Allied Market Research. The report cites increasing demand for fusion wear globally, the emergence of mix-and-match styles, the availabili... Read more

Global home textile market to be a $140 billion industry by 2027: Study

Global home textile market to be a $140 billion industry by 2027: Study

    Canada-based Transparency Market Research has published a comprehensive analytical report on the global status of the home textile sector. The research covering 2019 to 2027 states, the market growing at a CAGR of 5 per cent will be worth $ 140 billion. In another report published by Markets & R... Read more

India: GST and high inflation a deadly combo for Surat mills

India: GST and high inflation a deadly combo for Surat mills

    Mills in Surat reported a substantial drop in business around Diwali 2022. The estimated decline compared to the same festive season of 2021 was 60 per cent, a near death-knell for the synthetic textile sector in Gujarat’s second largest city. What are the main reasons for this sharp decline i... Read more

Tencel and RCGD Global showcase sustainable fashion at the Oscars for the f…

Tencel and RCGD Global showcase sustainable fashion at the Oscars for the fourth year running

  Lenzing’s Tencel brand and RCGD Global, formerly known as Red Carpet Green Dress, have teamed up for the fourth year running to highlight eco-couture at the Oscars. Sustainble Oscar occasion wear Bailey Bass and Chloe East wore bespoke sustainable occasion wear made from Tencel branded fibres and ... Read more

Men’s formal suit segment undergoes alterations

Men’s formal suit segment undergoes alterations

  The traditional classic readymade men’s suit will always stay relevant in the premium formal wear retail segment, even if its popularity has slightly waned in post-Covd dress-down times. With an USP of making the wearer stand out whenever and wherever, this is a forever style even when bespoke or made-t... Read more

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Levi's faces accusations of 'digital blackface' over AI-generated models

   Levi's faces criticism after teaming up with Amsterdam-based digital studio Lal... Read more

Making Indonesia 4.0: Govt implements machine restructuring program to boos…

   Indonesia's Ministry of Industry is rolling out a machine restructuring program... Read more

inside fashion vol.23 no.2

A Cat Eye View Cat Eye <br />China Insight
CHINA INSIGHTS

Contributed by Mr. Zhao Hong & Ms. Xing Rong

Amid unprecedented Non Woven growth, China revises mask quality standards

Amid unprecedented Non Woven growth, China revises mask quality standards

With the daily output of masks touches over 20 million, China introduces new standards for... Read more

China: Silk city Shengze is pilot zone for the world-class textile cluster

China: Silk city Shengze is pilot zone for the world-class textile cluster

  Shengze, home to the largest silk wholesale market known for silk and man-made s... Read more

H&M posts surprise Q1 operating profit despite weak demand amid soaring…

   H&M, the world's second-largest fashion retailer, has reported a surprise o... Read more

Growing number of global retailers withdraw from Myanmar amid political tur…

   Global clothing retailers, including Fast Retailing and Marks & Spencer, ar... Read more

G-Star Raw launches AI-generated collection designed by AI

   G-Star Raw, a Dutch denim brand, has launched a 12-piece collection designed wi... Read more

Fashion companies urged to Implement worker-centered Living Wages, says QUT…

   Despite numerous initiatives promoting living wages for garment workers in the ... Read more

Comprehensive development plan set to uplift Egypt's textile industry

   The Ministry of Public Business Sector in Egypt is set to open new textile fact... Read more

Apparel, textile industries unite to tackle audit and standard fatigue with…

   The apparel and textile industries face a major challenge with audit and standa... Read more

New tool set to tackle denim's environmental impact at denim show

   The upcoming Kingpins Amsterdam show is set to debut a new tool that could revo... Read more

Pakistani T-Shirt exports see impressive growth for second year in a row

   Pakistan's T-shirt export industry is enjoying substantial growth in recent yea... Read more