11 August 2023, Mumbai

Increased Transparency Requirements

The European Union (EU) has recently adopted new regulations that require apparel brands to be more transparent about their supply chains. These regulations demand comprehensive information about supplier identities, working conditions, and environmental impact.

What all you need to know

Hefty Fines for Non-Compliance

Non-compliance with these regulations can result in hefty fines. 

This is putting apparel brands under pressure to ensure that their products are ethically sourced and manufactured.

Supply Chain Transparency as a Competitive Advantage

In addition to avoiding fines, supply chain transparency can also provide apparel brands with a competitive advantage. 

By having visibility into their supply chains, brands can make better decisions about inventory management, product development, and logistics.

Technology to the Rescue

Technology is playing a key role in helping apparel brands achieve supply chain transparency. 

Tools such as production tracking software and digital quality management tools can help brands to monitor their suppliers closely, communicate with them effectively, and establish safeguards to prevent ESG violations.

H&M: A Leader in ESG Performance

Swedish fashion giant H&M is one example of a brand that is using technology to improve its ESG performance. 

The company has partnered with the global union federation IndustriALL to improve working conditions in its supply chain. 

H&M is also using technology to track its suppliers and monitor their environmental impact.

Other Apparel Brands Making Progress

Other apparel brands are also taking steps to improve their ESG performance. Nike and VF Corp are two industry leaders that have made significant commitments to sustainability. 

These companies are investing in renewable energy, reducing their water usage, and using recycled materials in their products.

Guess Sets an Example with Comprehensive ESG Strategy

Lifestyle brand Guess is another brand that is setting an example with its comprehensive ESG strategy. 

The company has published a detailed ESG report that outlines its goals and progress in areas such as labor practices, environmental impact, and governance.

China's Role in Improving ESG Standards

China is also playing a role in improving ESG standards in the apparel industry. The country is investing heavily in the textile sector in Ethiopia, which is helping to create jobs and improve working conditions for women.

UK Fashion Retailers Face Scrutiny

The UK fashion industry is also facing scrutiny over its labor practices. A recent ranking by the Alva Group found that there is a wide range of ESG performance among UK fashion retailers. Some brands, such as Primark and Boohoo Group, are lagging behind in areas such as labor practices and safety.

The Future of ESG in the Apparel Industry

The new ESG regulations in the EU are a wake-up call for the apparel industry. Brands that fail to comply with these regulations will face stiff penalties. 

However, brands that embrace transparency and sustainability can gain a competitive advantage in the long run.

The ESG regulations in the EU are part of a broader trend of increased scrutiny of the apparel industry. 

Consumers are demanding more ethical and sustainable products, and brands are under pressure to meet these demands. 

Technology is not a silver bullet for ESG compliance, but it can play a valuable role in helping brands achieve their ESG goals. The ESG regulations in the EU are a challenge for the apparel industry, but they also represent an opportunity. 

Brands that can embrace transparency and sustainability can gain a competitive advantage and build a more sustainable future for the industry.

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08 August 2023, Mumbai

Key Drivers of Growth, Trends

A joint report by e-commerce facilitator Shiprocket and ONDC has forecast that consumer spending in India is poised to surpass $4 trillion by 2030, propelled by a robust compound annual growth rate (CAGR) of 10%.

The report, titled "eCommerce In The New Bharat And Its Future," was unveiled during Shiprocket's esteemed SHIVIR summit in 2023. 

It highlights a number of key drivers of this growth, including:

Technological advancements in consumer goods

Escalated internet penetration

A thriving local consumer ecosystem

Evolving expenditure trends

Rising participation of the female workforce

Supportive policies like Make in India and Aatmanirbhar Bharat

What all you need to know

Kickers:

The report underscores the influential role of India's youthful demographic, with a median age of 31 by 2030, in driving this growth trajectory. 

The study accentuates the substantial potential in catering to millennials and Gen Z, who are projected to comprise 77% of India's populace by 2030.

These young consumers are increasingly tech-savvy and have a growing appetite for online shopping. 

They are also more likely to be open to trying new brands and products, which presents a significant opportunity for Indian businesses.

The report also highlights the importance of technological advancements in consumer goods. 

The rise of smartphones, e-commerce platforms, and digital payments is making it easier and more convenient for consumers to shop online. This is expected to further accelerate the growth of consumer spending in India in the coming years.

Trends in Online Shopping:

The report also provides insights into the latest trends in online shopping in India. It finds that categories such as food, housing, apparel, transportation, communication, and personal care are anticipated to witness a twofold surge in spending by 2030.

E-commerce is positioned as a pivotal catalyst for this burgeoning consumer outlay, as nearly 80% of consumers now prefer online marketplaces. 

The report emphasizes that a substantial 76% of consumers opt for prepayment. 

Notably, UPI emerges as the favored choice (57%), followed by credit cards (31%), and other alternatives like wallets, net banking, and debit cards (12%).

The report envisions UPI's popularity leading to a noteworthy 34% decline in cash transactions and an impressive 88% surge in digital payments by 2026.

Opportunities for Indian Brands:

The report also highlights the significant opportunities for Indian brands to expand their reach and grow their business in the global market. 

It finds that currently, fashion and lifestyle dominate online shopping trends, accounting for 48% of purchases, trailed by electronics (32%) and groceries (30%).

The report unveils that over 50% of Indian consumers prioritize product quality when making online purchase decisions. 

This presents a major opportunity for Indian brands to showcase their high-quality products to a global audience.

However, the report also finds that a staggering 72% of Indian brands have yet to explore international sales. 

This presents a significant growth opportunity, as both local and international consumers express keen interest in acquiring Indian products.

Short & Long

The report concludes that the Indian consumer market is poised for explosive growth in the coming years. 

This growth will be driven by a number of factors, including a young and tech-savvy population, a thriving local consumer ecosystem, and rising disposable incomes.

Indian businesses that are able to capitalize on these trends will be well-positioned to succeed in the global market.

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04 August 2023, Mumbai

A Lifestyle Orientation; Streetwear is a casual fashion style that has its roots in the 1970s and 1980s. It is characterized by its use of sportswear-inspired clothing, such as hoodies, graphic tees, and sneakers. 

Streetwear is often seen as a way for people to express their individuality and their affiliation with various subcultures, such as hip-hop, DIY punk, graffiti, and skate and surf culture.

What all you need to know

Preface

• Streetwear is a casual fashion style that is characterized by its use of sportswear-inspired clothing, such as hoodies, graphic tees, and sneakers.
• Streetwear has become increasingly popular in recent years, and it is now worn by people of all ages and backgrounds.
• It is a way for people to express their individuality, their values, and their love of the street.
• The future of streetwear is bright. The trend is only going to continue to grow in popularity, both in India and around the world.

The Rise of Indian Streetwear

Streetwear has been a popular fashion trend for decades, but it has only recently become mainstream. 

In India, streetwear is now a major force in the fashion industry, with both global and local brands vying for a piece of the pie. 

The global luxury fashion industry is also taking notice of streetwear, with many high-end brands launching their own streetwear lines.

Local brands compete with global iconic ones 

In India, a number of local streetwear brands have emerged in recent years, challenging the dominance of global brands like Nike, Adidas, and Supreme. 

Luxury Brands Go Streetwear; These local brands are often more affordable and cater to a younger audience. 

Some of the most popular Indian streetwear brands include Crepdog Crew (CDC), Capsul, ADK by Avishi Dayal Kalra, Almost Gods, and SIX5SIX STREET.

The luxury industry's shift to streetwear

The New Black in Fashion; The global luxury fashion industry has also been affected by the rise of streetwear. In the past, luxury brands were focused on high-end, formalwear. 

However, in recent years, many luxury brands have launched their own streetwear lines in an effort to appeal to younger consumers. 

This trend is likely to continue in the years to come.

Streetwear as a Subcultural Expression

In its earliest days, streetwear was adopted by various subcultures as a way to express their identity and values. 

For example, hip-hop artists used streetwear to signify their urban roots and their rejection of mainstream culture. 

DIY punks used streetwear to express their DIY ethos and their rebellious spirit. 

Graffiti artists used streetwear to show their support for the street art community. 

And skaters and surfers used streetwear to show their love of the outdoors and their laid-back lifestyle.

Streetwear as a Fashion Trend

In the 1990s, streetwear began to gain mainstream popularity. This was due in part to the rise of hip-hop culture, which made streetwear more visible to a wider audience. 

It was also due to the increasing popularity of skate and surf culture, which made streetwear more accessible to a younger audience.

As streetwear became more mainstream, it began to evolve. New brands emerged, and new styles were adopted. 

Hoodies and graphic tees remained popular, but other items, such as sneakers, bomber jackets, and sweatpants, also became associated with streetwear.

Streetwear Today

Today, streetwear is a major force in the fashion industry. It is no longer just the domain of subcultures; it is worn by people of all ages and backgrounds. Streetwear brands are now some of the most popular and successful in the world.

Streetwear is more than just a fashion trend; it is a lifestyle orientation. It is a way for people to express their identity, their values, and their love of the street. 

It is a way to connect with others who share the same interests. And it is a way to have fun and be creative.

The future of streetwear

The future of streetwear is bright. The trend is only going to continue to grow in popularity, both in India and around the world. 

As streetwear becomes more mainstream, we can expect to see even more innovation and creativity in the space.

The Future of Streetwear

• The future of streetwear is bright. The trend is only going to continue to grow in popularity, both in India and around the world.

Streetwear is a major force in the fashion industry, and it is only going to get bigger in the years to come. 

Both global and local brands are vying for a piece of the pie, and we can expect to see even more innovation and creativity in the space in the years to come.

Streetwear is a truly global phenomenon. 

It is a way for people from all over the world to connect with each other and express their individuality. It is a way to celebrate the diversity of street culture. And it is a way to have fun and be creative.

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11 August 2023, Mumbai

Iconic

Raymond, one of India's oldest and most respected textile and apparel brands, has undergone a major restructuring in recent years. 

The company has exited several non-core businesses, such as steel, cement, and synthetics, and is now focused on its core strengths of real estate, lifestyle, and engineering.

What all you need to know

Focal point

The lifestyle business is a key focus area for Raymond, and the company plans to double its size in the next five years. In 2023, the lifestyle business saw a 19% growth in the branded apparel segment. 

Raymond is investing in strategic initiatives to bring its power brands Colors, Park Avenue, and Raymond RTW back on track for growth and expansion.

Expansion

The company is also expanding its retail footprint. There are currently 300 Exclusive Brand Outlets (EBOs) between Colors, Park Avenue, and Raymond RTW, and the plan is to increase the number to 600 by 2025-26. 

The newly launched label Ethnix will also be in focus, with plans to grow the number of EBOs from 75 to 300 by 2025-26.

Raymond is also looking to expand its presence in the casual wear segment, which accounts for 40% of the men's apparel market. The company plans to launch new casual wear brands and products under its Colors and Park Avenue labels.

In addition to its retail expansion, Raymond is also investing in digital marketing and e-commerce. 

The company has launched its online store and is partnering with e-commerce platforms such as Amazon and Flipkart.

Strategizing

With its focus on restructuring, strategic investments, and expansion, Raymond is well-positioned to grow its lifestyle business in the coming years. 

The company is targeting 17-20% EBITDA growth and a 15% revenue increase in FY24.

Key takeaways

Raymond is restructuring its business to focus on its core strengths of real estate, lifestyle, and engineering.

The company plans to double the size of its lifestyle business in the next five years.

Raymond is investing in strategic initiatives to bring its power brands back on track for growth and expansion.

The company is expanding its retail footprint and entering the casual wear segment.

Raymond is investing in digital marketing and e-commerce.

The company is targeting 17-20% EBITDA growth and a 15% revenue increase in FY24.

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08 August 2023, Mumbai

India is one of the world's largest cotton producers, but the industry is facing a number of challenges in 2023. 

Farmers are facing low prices for their crops, stagnant production, and rising costs.

Low prices; Cotton prices have been declining in recent months, due to a number of factors including a global slowdown in demand and increased production in other countries. This has led to low prices for farmers, who are struggling to make a profit.

What all you need to know

"perfect storm"

India's cotton industry is in a tailspin, facing a perfect storm of low prices, stagnant production, and rising costs.

This highlights the severity of the challenges and the potential impact on the industry and the country.

India's cotton industry faces challenges of depressed prices, languid production, and escalating costs. Farmers struggle financially, and some considering abandoning agriculture.

Government can provide financial relief, invest in R&D, develop drought-resistant strains, and promote sustainable practices.

Stagnant production; India's cotton production has been stagnant in recent years, due to a number of factors including climate change, pest infestations, and water shortages. 

This has led to a decrease in supply, which has put further pressure on prices.

Rising costs; The cost of inputs for cotton production, such as fertilizers and pesticides, has been rising in recent years. This has made it even more difficult for farmers to make a profit.

Impact on farmers

The challenges facing India's cotton industry are having a significant impact on farmers. Many farmers are facing financial difficulties, and some are even considering quitting farming altogether. 

This could lead to a decrease in cotton production in India, which could have a negative impact on the global cotton market.

Way forward

• India's Cotton Industry Facing Headwinds

There are a number of things that can be done to address the challenges facing India's cotton industry. These include:

Providing financial assistance to farmers.

Investing in research and development to improve productivity

Developing drought-resistant varieties of cotton.

Promoting sustainable farming practices.

By taking these steps, India can help to ensure the long-term viability of its cotton industry.

In addition to the challenges mentioned above, India's cotton industry is also facing scrutiny for its use of forced and child labor and for polluting the environment. 

Some companies are working with farmers to address these issues, but more needs to be done to ensure that India's cotton industry is sustainable and ethical.

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03 August 2023, Mumbai

In recent years, fast fashion brands have faced growing pressure to embrace sustainability and environmental responsibility

What is fast fashion?

However, critics argue that many of these brands are merely paying lip service to the cause while engaging in deceptive marketing tactics to create a facade of sustainability

What all you need to know

What is greenwashing?

A study conducted by the Changing Markets Foundation has shed light on the disturbing trend of greenwashing, revealing that several prominent fast fashion brands, such as Shein, H&M, and Inditex, are guilty of misleading consumers with false claims about their eco-friendly practices.

Examples of greenwashing in fast fashion

One of the most glaring examples of greenwashing came to light when Shein boasted that 64% of its textiles were derived from recycled materials. The study, however, revealed that this figure was vastly exaggerated, with the actual proportion being closer to a meager 1%.

Shein's greenwashing claims

Similarly, H&M, a brand that has pledged to transition to 100% recycled polyester by 2025, was found to have only 33% of its winter 2022 collection made from recycled polyester.

H&M's greenwashing claims

These revelations expose the disturbing reality that some fast fashion brands are more interested in capitalizing on the growing demand for sustainable products rather than genuinely implementing sustainable practices.

The motivations behind greenwashing

As consumers increasingly prioritize eco-conscious choices, greenwashing becomes an attractive strategy for these brands to maintain their market share and appeal to sustainability-minded customers.

Amidst this disheartening scenario, there are commendable exceptions among fast fashion brands genuinely embracing sustainability.

Examples of sustainable fast fashion brands

One shining example is the Italian fabric manufacturer Manteco SpA, which exclusively utilizes recycled wool in its production process. 

The company's approach involves a straightforward recycling method, including manual garment stripping, mechanical shredding of scraps, and blending the fibers with color before spinning them into the fabric.

As a result, Manteco's recycled wool boasts a significantly lower carbon footprint compared to virgin wool, showcasing the brand's commitment to reducing environmental impact.

While the emergence of eco-friendly practices in the fast fashion industry is a positive development, consumers must remain vigilant about the prevalence of greenwashing.

How to avoid greenwashing

The responsibility lies with shoppers to conduct thorough research before buying products from fast fashion brands, scrutinizing marketing claims that may seem too good to be true. 

By cultivating a critical eye, consumers can demand transparency and accountability from brands, discouraging greenwashing practices.

Quick Message

Honest environmental marketing or greenwashing. Where is the line?

The issue of greenwashing in fast fashion is a pressing concern that demands attention and action. As the demand for sustainable products grows, brands must prioritize genuine sustainability efforts over deceptive marketing strategies.

Consumers have the power to shape the future of the fashion industry by making informed choices and supporting brands that truly prioritize environmental responsibility.

By holding fast fashion brands accountable for their claims and supporting those committed to sustainable practices, we can encourage positive change and promote a more environmentally conscious fashion landscape.

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10 August 2023, Mumbai

The secondhand clothing industry in Central America is booming, thanks to a combination of affordable prices and growing environmental concerns.

What all you need to know

Reference to context

The pandemic has changed the age-old, shabby, and worn-out image of secondhand fashion and encouraged young fashionistas to embrace pre-worn or used clothes.

In recent years, there has been a sharp increase in the demand for secondhand clothing in Central America. 

This is due in part to the region's high poverty rates, which make it difficult for many people to afford new clothes. 

Secondhand clothing is often much cheaper than new clothing, making it a more affordable option for many people.

Affordable Prices, Environmental Concerns Drive Growth

In addition to affordability, environmental concerns are also driving the growth of the secondhand clothing industry in Central America. 

Many people are becoming more aware of the environmental impact of the fashion industry, and are looking for ways to reduce their consumption of new clothes. 

Secondhand clothing is a great way to do this, as it helps to reduce the amount of waste produced by the fashion industry.

Incidental growth

The growth of the secondhand clothing industry in Central America is creating new opportunities for both businesses and consumers. 

Businesses are opening up new thrift stores and online marketplaces to sell secondhand clothing. 

Consumers are finding great deals on high-quality clothes, and are helping to reduce their environmental impact at the same time.

Inclusivity

The secondhand clothing market is expected to continue to grow in Central America in the coming years. 

This is a positive trend, as it will help to make affordable clothing more accessible to people in the region, and it will also help to reduce the environmental impact of the fashion industry.

Here are some additional details from the essay that could be included in the rewrite:

The secondhand clothing industry in Central America is worth an estimated $274 million.

The industry is expected to create over three million jobs in the region by the early 2040s.

What's what

The growth of the secondhand clothing market is being driven by several factors, including rising disposable incomes, increasing environmental awareness, and the availability of online marketplaces.

The secondhand clothing industry is helping to reduce the environmental impact of the fashion industry by diverting used clothing from landfills and incinerators.

Secondhand clothing is also a more affordable option for people in Central America, who often have limited resources.

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07 August 2023, Mumbai

The global fire-resistant fabrics market is expected to grow significantly in the coming years, reaching a value of US$6 billion by 2033. 

This growth is being driven by several factors, including technological innovation and increased demand from industrialization.

Technological Innovation and Increased Demand from Industrialization to Drive Growth in Fire-Resistant Fabrics Market.

What all you need to know

Technological Innovation

Technological innovation is opening up new opportunities for manufacturers of fire-resistant fabrics. 

For example, new fibers and fabrics are being developed that are more flame-resistant, durable, and comfortable than ever before. 

These new fabrics are making fire-resistant fabrics more appealing to a wider range of end users, such as those in the oil and gas, chemicals, and manufacturing industries.

One of the most significant technological innovations in the fire-resistant fabrics market is the development of aramid fibers. Aramid fibers are extremely strong and flame-resistant, making them ideal for use in fire-resistant fabrics. 

Aramid fibers are also lightweight and comfortable, making them a good choice for a variety of applications.

Another important technological innovation in the fire-resistant fabrics market is the development of melamine-treated fabrics. 

Melamine-treated fabrics are treated with a flame retardant that makes them resistant to fire. 

Melamine-treated fabrics are often used in applications where a high degree of flame resistance is required, such as in firefighting gear and military uniforms.

Increased Demand from Industrialization

Industrialization is also driving demand for fire-resistant fabrics. As more and more industries adopt automated processes, the risk of fire increases. Fire-resistant fabrics can help to protect workers from burns and other injuries in the event of a fire.

The oil and gas industry is one of the major drivers of demand for fire-resistant fabrics. 

The oil and gas industry is a high-risk environment where fires can occur easily. Fire-resistant fabrics are used to protect workers from burns and other injuries in the event of a fire.

The chemicals industry is another major driver of demand for fire-resistant fabrics. 

The chemicals industry is also a high-risk environment where fires can occur easily. 

Fire-resistant fabrics are used to protect workers from burns and other injuries in the event of a fire.

The manufacturing industry is also a major driver of demand for fire-resistant fabrics. The manufacturing industry is a high-risk environment where fires can occur easily. 

Fire-resistant fabrics are used to protect workers from burns and other injuries in the event of a fire.

Bottomline

The combination of technological innovation and increased demand from industrialization is expected to drive significant growth in the fire-resistant fabrics market in the coming years. 

The market is expected to reach a value of US$6 billion by 2033, with a CAGR of 6.3%. 

Fire-resistant fabrics are becoming more flame-resistant, durable, and comfortable, thanks to technological innovation. This is driving demand from industries with a high risk of fire, such as oil & gas, chemicals, and manufacturing.

This gist captures the key points of the article in a concise and informative way. It highlights the two main drivers of growth in the fire-resistant fabrics market:

• Technological innovation and increased demand from industrialization.
• It also mentions the specific industries that are driving demand for fire-resistant fabrics.

CREDITS| Future Market Insights Inc. report

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02 August 2023, Mumbai

This versatile fiber is strong, durable, and eco-friendly.

• Sustainable: Hemp fiber is a sustainable fiber because it requires less water and land to grow than other fiber crops, and it does not require the use of pesticides or fertilizers.
• Versatile: Key applications; Hemp fiber can be used to make a variety of products, including clothing, paper, fabrics, paper, cordages, building materials, and insulation.
• Eco-friendly: Hemp fiber is an eco-friendly fiber because it does not require the use of pesticides or fertilizers, and it is biodegradable.

This makes it a much more sustainable option than cotton, which is the most widely used fiber in the world.

What all you need to know

Benefits of Hemp Fiber

Hemp fiber is a promising solution for a sustainable future that is more competitive Vs many other fibers. 

Hemp is a sustainable fiber that can help to reduce the environmental impact of the fashion industry.

Challenges of Hemp Fiber

A closer look

Cultivation and processing; There are some concerns about the cultivation and processing of hemp fiber. 

In certain regions, the approval of highly hazardous pesticides for use on hemp crops poses environmental risks. Furthermore, the lack of clear guidelines for fertilizers could potentially lead to contamination.

Lack of awareness

Hemp fiber is not as widely known as other fiber crops, such as cotton. This lack of awareness could hinder the adoption of hemp fiber by businesses and consumers.

Sum up

Despite the challenges, the future of hemp fiber looks bright. As consciousness regarding sustainability increases, more and more brands are incorporating hemp fiber into their collections. 

The growing demand for sustainable textiles offers an opportunity for hemp to emerge as a major part of the solution to the environmental problems associated with the fashion industry.

Other Sustainable Fibers

In addition to hemp, there are a number of other sustainable fibers that are gaining popularity. 

These include:

Stinging nettle fiber

This versatile fiber can be used to make a variety of products, including clothing, paper, and insulation.

Coffee ground fiber

This unique material is made from recycled coffee grounds and boasts qualities like softness, absorbency, and odor resistance.

Piñatex

This vegan leather alternative is made from pineapple leaves and is strong, durable, and water-resistant.

Banana fiber

This strong and durable fiber is sourced from the banana plant and can be used to make a range of products, including clothing, bags, and paper.

Lotus fiber

This lightweight fiber is derived from the lotus plant and is resistant to water and UV rays.

These are just a few of the many sustainable fibers that are available. As the demand for sustainable textiles grows.

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