India’s credit volume declines as COVID-19 halts textile and apparel p…
The third edition of India Spotlight Report reveals, suspension of manufacturing due to COVID-19 led to a 20 per cent decline in credit borrowings by Indian textile and apparel sector in December 2020. The report released jointly by SIDBI and CRIF High Mark says the textile and apparel sector in India burrowed loan... Read more
Vietnam eyes $39 bn exports through FTAs, diversification and trademar…
The Vietnam National Textile and Garment Group (Vinatex) has set an ambitious target of achieving $39 billion in export revenue this year, equal to that of 2019. Last year, the group could achieve exports worth only $35 billion due to the pandemic, US-China trade tensions and Brexit. However, Vietnam was th... Read more
India-UK trade deal should protect UK jobs and businesses, says UKFT
Realizing India’s potential as a future trade partner in the fashion industry, the Paul Alger, Director-International Business, UK Fashion and Textile Association (UKFT) has urged the government to strike a deal that would allow it access the £2trillion Indian market comprising 1.4 billion consume... Read more
Stop using tariffs as negotiating tools, urge UK, US fashion experts
In retaliation against the digital services taxes adopted by the UK, Italy and Spain, the US had decided to impose 25 per cent tariffs on the import of British fashion and luxury goods. However, it soon suspended these tariffs for six months owing to upcoming G20 meetings and the G7 summit. Making multin... Read more
Pandemic disrupts US RMG market as import of knitted, woven apparels f…
One of the leading importers of apparels goods in the world, the US’ import knitted apparels however, fell from $48 million in 2019 to $38 million in 2020 due to the pandemic. US’ imports from China declined to $9million during 2020 from $14 million in 2019. One reason for this was the ban i... Read more
Made-to-order, renewable materials help W Africa boost sustainability …
As the textile and fashion sector is expected to drive West Africa’s economic recovery post COVID-19, key players are exploring ways to make the industry more sustainable. As per an Investorsking report, textile and apparel companies are adopting new and sustainable means of production. For instance, UK... Read more
Dismal future outlook compels The Denim World to close operations
Industry experts had hoped demand for sustainable denims will increase post pandemic. But, the opposite is happening and people are queuing up for cheaper, fast-fashion items, says Silvia Rancani, Founder, The Denim World which is soon set to shut operations due to dwindling demand. Founded in October 2018 a... Read more
China’s price rise threatens recovery of western apparel markets
Increase in China’s raw material prices in the first quarter of this year has raised concerns about spiking inflation in Western fashion markets. As per the National Bureau of Statistics, China’s producer-index rose 6.8 per cent in April. The index is likely to further surge in the second and thir... Read more
Retailers get back to business as more customers visit stores
With more customers returning to stores post vaccination, retailers in the US are finally heaving a huge sigh of relief. Retailers like Walmart and Macy’s are eagerly looking forward to customers’ return after over a year of them migrating to online shopping. One of the reasons for this eagerness ... Read more
Bangladesh awaits a worthy successor to Accord
With the Accord agreement on Fire and Building Safety in Bangladesh set to expire in the next three months, the Bangladesh garment industry once again faces the risk of natural and human disasters like the Rana Plaza Factory disaster in 2013. The Accord on Fire and Building Safety was signed by 200 European b... Read more
Fashion industry needs to focus on upliftment of its 6.5 million worke…
Its glamorous side cannot hide the fact that much of fashion industries shine comes from the hard work and toil of 65 million workers employed in thousands of garment factories across South Asia. As a 2019 ILO report highlights, garment factories in South Asia employ around 75 per cent of all garment workers ... Read more
PVH Corp highlights progress made in achieving key targets
In its latest annual corporate responsibility report PVH Corp, the New York-bas... Read more
PRGMEA urges government to facilitate visas for exporters
The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA... Read more
Online fashion industry records 51% order growth in FY21
As per an Unicommerce report, the online fashion industry witnessed an order vo... Read more
IKEA plans new renewable electricity program
Swedish home furnishing retailing major IKEA plans to launch a programin India,... Read more
China set to be the major export market for Vietnam textiles and garments
As COVID-19 has rendered some of Vietnam’s traditional markets unstable, ... Read more
BGMEA bags 2021 USGBC Leadership Award
The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has bagg... Read more
Designer MattyBovan declared winner of both 2021 International Woolmark Pri…
Designer MattyBovan has emerged as a winner at both the 2021 International Wool... Read more
Adidas subscribes to €3 millionSpinnova shares
To increase the proportion of sustainable materials in its products, German spo... Read more
Israel ban fur sale in fashion industry
Winning applause from the International Anti-Fur Coalition as the first entire ... Read more
India, US drop Chinese sponsors for Olympicgames
The Indian Olympic Association (IOA) has dropped Chinese sportswear maker Li-Ni... Read more
Adidas subscribes to €3 millionSpinnova shares
To increase the proportion of sustainable materials in its products, German spo... Read more
Israel ban fur sale in fashion industry
Winning applause from the International Anti-Fur Coalition as the first entire ... Read more
India, US drop Chinese sponsors for Olympicgames
The Indian Olympic Association (IOA) has dropped Chinese sportswear maker Li-Ni... Read more
Burberry to become Climate Positive by 2040
Burberry has announced its pledge to become Climate Positive by 2040, setting a... Read more
Pakistan: Restore zero ratings, duty drawbacks, urge PHMA members
At a joint press conference, members of the Pakistan Hosiery Manufacturers and ... Read more
India, Australia to resume talks to re-launch India-EU FTA
India and Australia are planning to resume trade talks to re-launch the long-su... Read more