According to a new World Bank report, East Asia remains one of the main growth drivers of the world economy, comprising of nearly two-fifths of the global economic growth. Moderating slightly from 6.8 per cent in 2014, overall, the region is expected to grow by 6.5 per cent in 2015.
Structural reforms needed
Axel van Trotsenburg of the World Bank said that growth in the developing East Asia Pacific continues to be solid; however, the moderating trend suggests that policy makers in the region must remain focussed on structural reforms that lay the foundation for sustainable, long-term and inclusive growth. Trot... Read more
Sustainability in clothing is the buzzword in eco-fashion or eco-fabrics today. La Rhea Pepper, Managing Director, Textile Exchange throws light on what they do to bring about the change in environment.
A thirteen year old company, Textile Exchange believes in using textiles as a catalyst, as a means to create change. “Originally Textile Exchange was an organic exchange and our focus was on organic cotton. We felt organic cotton should be a market-driven solution to address issues such as the use of pesticides and water. Crop rotation was a vital issue. When you think of the way textiles are produced or manufactured, there was no vision of long te... Read more
A.T. Kearney's Global Retail Development Index (GRDI) has guided global retailers with their strategic investments since 2002, a period in which the retail environment in developing markets has undergone massive transformation. The latest edition focuses on the fact that retailers' increased understanding of developing countries is more important today than ever before, as these markets struggle with shifting economic and political trends—sometimes in an extremely short timeframe.
Guide to future prospects of the emerging markets
Overall, retailers over the past year took a longer-term view of developing markets,
staying put in
... Read more
The clothing industry has emerged as the second largest polluter in the world, after oil. In fact, the Greenpeace Detox campaign, since 2011 has challenged some of the world’s most popular clothing brands to eliminate all releases of hazardous chemicals.
A big fashion carbon footprint
Eileen Fisher, a clothing industry magnate, known for her commitmentfast fashion 1 to environmental causes explains fashion is a complicated business that involves a long and varied supply chain, raw material, textile manufacture, clothing construction, shipping, retail, use and ultimate disposal of the garment. Fashion carbon footprint... Read more
European garment, textile and fashion industry is doing well this year, the official year for European Year for Development. Moreover, it is contributing a lot towards global development.
Contributing in a big way
Some of history’s most important textile and fashion inventions and today's most celebrated manufacturers, innovators and artists hail from the continent. ‘Made in Europe’ is a label steeped in heritage, unparalleled quality and award-winning craftsmanship. Hundreds of leading brands, retailers, internationally acclaimed designers, thousands of talented emerging designers and forward... Read more
When Daniel Lee, Executive Director, Levi Strauss Foundation (LSF) asked, how many people knew where the clothes they were wearing made, only a few responded positively. According to recent data, the majority—84 per cent, pick responsible products whenever possible; however, the availability of these products is the biggest barrier to not purchasing more.
Lack of awareness about ethical products
With sustainable buying making huge strides among consumers, there’s still a huge disconnect between consumer demand for more ethical products and a lack of awareness of how and where the clothes are made. Lee said that this... Read more
Global manufacturing production is expected to maintain a steady rise in 2015, although the prospects of growth vary by region and country. According to midyear estimates by UNIDO, the annual growth of world manufacturing value added (MVA) is likely to be around 3.5 per cent in 2015. Two major trends are emerging on the global apparel manufacturing map – western brands moving their sourcing to Asian countries other than China; and reshoring happening in countries like US.
China loses ground, sourcing moves to other nations
While Asia, particularly China, has enjoyed a dominant position in shoes, apparel and household te... Read more
The recently concluded Trans-Pacific Partnership (TPP) negotiations in Atlanta were recognised by the United States Fashion Industry Association (USFIA). According to Julia K Hughes, President, USFIA, TPP represents an important opportunity for American fashion brands, retailers, importers, and wholesalers, who are already doing significant business in several TPP partner countries. She and her members thanked Michael Froman, the US Trade Representative and his team for their many years of hard work to conclude this agreement.
About 80 per cent of respondents said they expect the TPP to affect their business practices. Ho... Read more
A Mckinsey study on the future of global apparel retail reveals the dynamics of the apparel industry are changing dramatically. To succeed amid shifting tides, companies need to build competencies. Companies, have to keep a tab on fast-moving fashion keeping them on their toes to be in sync with the trends and changes in consumer behaviour, who not only want to see a level of freshness in their products, but also in the entire shopping experience.
Boosting retail, tapping the consumer psyche
The size of global apparel business is growing and expected to generate double digit growth between now and 2020. Much of this growth is coming fr... Read more
While rising production costs in China and its shift towards value-added goods has not really undermined its position in the world textile and apparel sourcing market, however, western countries are increasingly looking for low-cost sourcing destinations and shifting focus on near sourcing manufacturing.
As Rahul Mehta, President, IAF points out, “The concept of manufacturing closer to home is catching on. It will impact global dynamics. Manufacturing countries will look at non-traditional markets since they can’t afford to depend on markets that are not growing much. Europe and South America will expand faster. Production will be higher in South America since US compani... Read more