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Apparel 23-11-14

Millennial Indian men propel trendy styles in menswear segment

14 November 2023, Mumbai

Clothes do make the man, and the millennial man is now a gentleman of style showing great interest in shopping for himself and knowing exactly what he wants and where to get it.

The rapid growth of social media, the availability of high-end brands online, and the elixir of shopping in malls have led to rapid growth in this segment.

Trends; Over the last two decades, men’s fashion has become on-trend, as even in the 1990s, before the internet onslaught, the segment was limited to just shirts, T-shirts, jeans, and trousers in casual wear by Western brands, along with some Indian brands for ethnic and casual wear.

The millennial man is a power shopper who has now overshot the tailoring market and is willing to spend on brands and designers who follow the latest catwalk fashion trends across the globe, the same as women’s segment.

Social media grows at 6.3 per cent CAGR by 2025

As per market research firm Grand View Research, the the the the global menswear market valued at $483 billion in 2018 and is expected to grow at 6.3 per cent CAGR over the forecast period of 2019-25.

Fashion shows across the globe including Paris, New York, London, Los Angeles, and Delhi, fashion magazines, and the onslaught of social media and fashion influencers have sky-rocketed the growth of men’s clothing.

Fashion and dressing styles are hugely influenced by the appearance of celebrities in movies, ZTV, news, etc, by wearing and promoting whatever is in style. Men’s fashion magazines such as ZQ, Men’s Vogue, Fantastic Man, and Nylon Guys and Man Magazine and fashion blogs are all cohesively working together to make it a big industry now.

Marquee brands; Meanwhile top Indian designers like Sabyasachi Mukherjee, Manish Malhotra, Manish Arora, Ujjawal Dubey, Raghavendra Rathore, and Tarun Tahiliani’s among others have taken ethnic wear segment by storm.

Data-points

A recent Statista market research report has estimated men's Indian men’s apparel market at around $29.82 billion in 2023 and predicts it will grow annually by 4 per cent through 2028. In global comparison, the largest market is the US, which estimated at around $111 billion this year. The average volume per person in the men's segment in India is around 4.8 pieces in 2023.

Indian designers lead men’s haute couture

The world of Indian men’s haute couture which has for long been led by women- especially in the bridal segment first took off with men also looking for formal wear. And now it has permeated to all other segments from casual to office wear. Many Indian designers who originally focused on women are now creating ensembles for men.

As designer Tarun Tahiliani explains, just like women, men also want to look and feel good in clothes that complement their build and personality. Men do not stick to safe and neutral shades anymore. Today, they’re no longer afraid to flaunt bold hues and bright floral.

Nuanced picture

The bestsellers of premium designers in the formal ethnic segment are sherwanis, bandhgalas and Nehru jackets in a variety of textures and cuts that strike a balance between classic and contemporary.

In Western formals, it’s the timeless three-piece suits as well as single-breasted blazers, while sweat shirts. bomber jacket, jeans, T-shirts, shirts and short or long kurtas are the bestsellers in casual segment.

With a strong focus on purchasing criteria such as quality, comfort and style and being on-trend, the men’s apparel segment is on an all-new high.

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Apparel 23-11-14

Clothing Industry Suffers Slump Despite Festive Season

13 November 2023, Mumbai

No Growth in Sales The clothing and garment industry has seen no growth in sales during the festive season, unlike other sectors such as cars, jewelry, mobile phones, and electronics. The industry is puzzled by this low demand, which affects the entire textile chain.
Powerloom Industry Takes a Break
Bhivandi’s powerloom industry, a major supplier in the domestic market, is forced to take a 20-day break this month due to low demand. Some experts suggest that consumers may prefer to buy new electronic gadgets instead of new clothes.
Cotton Farmers and Exporters Face Losses
Cotton farmers are delaying their kharif cotton harvest, hoping for a price rise. However, the export demand for Indian cotton and yarn is weak, with global prices falling below Indian prices. This causes losses for ginners and spinning mills.

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Apparel 23-11-14

Global Apparel Market Slowdown Continuing in August & Sep., 2023

06 November 2023, Mumbai

Key Findings of WAZIR October report
US
Online sales of clothing and accessories registered only a nominal 1% growth in Q2 2023 over Q2 2022.
Apparel imports in August 2023 were $7.8 billion, 25% lower than August 2022.
UK
Year-to-date (YTD) apparel imports were 14% lower than 2022.
Apparel imports in August 2023 were $1.8 billion, 10% lower than last year.
China's share of the UK apparel market decreased 6% since 2021, while Bangladesh's share increased 2%.
EU
Apparel imports in August 2023 were $8.2 billion, 23% lower than August 2022.
YTD apparel imports were 10% lower than 2022.
Implications
The slowdown in the global apparel market is likely due to a number of factors, including the ongoing war in Ukraine, rising inflation, and supply chain disruptions. This slowdown is having a negative impact on both apparel brands and retailers, as well as the countries that rely on apparel exports.
Outlook
It is too early to say when the global apparel market will fully recover. However, it is clear that the market is facing a number of challenges.

Apparel brands and retailers will need to adapt to the changing market landscape in order to remain successful. This may include focusing on sustainable and ethical practices, offering more competitive prices, and improving customer service.

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Apparel 23-11-06

Brunei High Commissioner Meets BGMEA President

27 October 2023, Mumbai

The High Commissioner of Brunei Darussalam to Bangladesh, H.E. Haji Haris Bin Haji Othman, met with BGMEA President Faruque Hassan on October 10 to discuss trade and investment opportunities between the two countries.
Potential for RMG Exports
Hassan highlighted the potential for exporting readymade garments (RMG) to Brunei Darussalam and stressed the industry's commitment to producing high-quality clothing and reaching out to new and existing markets.
He asked the High Commissioner for assistance in finding ways to increase garment exports to Brunei Darussalam.
Strengthening Bilateral Ties
Both sides agreed that there is significant scope for cooperation in trade and investment, which would benefit both countries.
They also discussed ways to strengthen bilateral ties between Bangladesh and Brunei Darussalam.
CREDITS: BGMEA, website

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Apparel 23-10-27

Brunei High Commissioner Meets BGMEA President

CMAI’s masterclass with Santosh Nair unveils entrepreneurial strategies for uncertain times

11 November 2023, Mumbai

The Clothing Manufacturing Association of India (CMAI) orchestrated a transformative masterclass in Mumbai on November 3, 2023, featuring the esteemed Santosh Nair, celebrated as the Confidence Guru and a powerhouse in entrepreneurial coaching. Drawing over 2000 garment manufacturers and brands, this event sparked insights crucial for navigating the turbulent tides of business in uncertain times.
Nair's Masterclass, themed 'The Power of an Entrepreneur in Uncertain Times,' echoed the necessity for adaptive strategies in facing industry challenges, ensuring sustained profitability, and instilling a resilient mindset in business landscapes.
Highlights

The cornerstone of Nair's discourse highlighted the pivotal role of resource management and the art of fostering exponential growth. A distinct emphasis was placed on the strategic delegation of tasks to experts, enabling entrepreneurs to channel their efforts where their impact resonates most. This approach, Nair argues, streamlines operations, fosters innovation, and fuels sustainable growth.
Moreover, the event underlined the imperative to build enduring organizations that transcend individual presence. Entrepreneurs were urged to establish legacies by nurturing adaptable, forward-thinking cultures within their enterprises and securing long-term visions and resilient structures.

Nair's impassioned call to action spurred audiences to embrace change, emphasizing autonomy and a legacy that surpasses mere financial milestones.
Key takeaways from this enthralling session condensed the essence of entrepreneurial triumph. Entrepreneurs, depicted as unstoppable forces, exhibit determination and resilience, focusing on solutions rather than grievances.

Nuanced picture

Strategic resource management paves the way for exponential growth, necessitating adaptability and constant evolution.

Confidence, continuous learning, responsibility, and guidance emerge as indispensable elements for personal and business growth.
Notably, CMAI consistently organizes such knowledge series and masterclasses, offering its members access to invaluable insights from industry visionaries and pioneers.

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Apparel 23-11-11

CMAI survey reveals festive season sales outlook

02 November 2023, Mumbai

The Clothing Manufacturing Association of India (CMAI) recently conducted a survey to predict festive season trends.

Multiple data-points

They collected insights from 166 apparel manufacturers and brands, revealing that 22% expect an uptick, while 78% foresee sales dipping up to 25% compared to the previous year.

The economic slowdown and inflation are the primary culprits for these sales projections, with 30% blaming the economic downturn.
Some believe that lower prices (16%) or better clothing options (12%) might boost sales. Most respondents (67%) favor mid-priced clothing over expensive or low-priced options. Kid's wear (49%) is expected to outperform, followed by women's (36%) and men's wear (12%).

Tier 2 and Tier 3 cities are poised to outshine metros in clothing sales, according to 80% of respondents.

Observations
Rajesh Masand, President of CMAI, noted that the survey reflects the industry's dynamics, highlighting the significance of economic factors and pricing strategies.

Rahul Mehta, Chief Mentor of CMAI, expressed concern about the pervasive pessimism among members but anticipates a post-Diwali market upswing. Sixty percent foresee offline stores performing better during the festive season, while 40% bet on online portals.
The domestic apparel industry is a significant player in India's economy, estimated at Rs. 6.80 lakh crores and growing by 15-20% in FY2023.

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Apparel 23-11-02

EU Apparel Imports Decline in January-August 2023

26 October 2023, Mumbai

Overall Decline
The European Union's (EU) apparel imports from the world declined by 9.61% in January–August 2023, according to data released by EUROSTAT.
This represents a decrease from US$67.66 billion in January-August 2022 to US$ 61.15 billion in January-August 2023. The quantity of apparel imported by the EU also declined by 14.64% during the same period, from 3 billion kilograms to 2.56 billion kilograms.
Top Suppliers
Bangladesh, the EU's second-largest apparel supplier, saw its exports to the EU decline by 13.71% in value terms during January–August 2023. China, the EU's largest apparel supplier, saw its exports to the EU decline by 14.13% in value terms during the same period.
Turkey, the EU's third-largest apparel supplier, saw its exports to the EU decline by 10.89% in value terms during January–August 2023.
Unit Price
Despite the overall decline in apparel imports from around the world, the EU's unit price of apparel imports increased by 5.89% in January-August 2023.
This increase was driven by higher prices from China, Turkey, Vietnam, Sri Lanka, and Indonesia. Bangladesh was the only top supplier to experience a lower unit price during this period.

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Apparel 23-10-26

TTBC: A Knowledge Hub for Green Technologies

08 November 2023, Mumbai

The Textile Technology Business Center (TTBC), established by the Partnership for Cleaner Textile (PaCT) program, serves as a knowledge hub for green technologies in the textile and RMG industry.
Facilitating Knowledge Sharing and Business Linkages
TTBC facilitates knowledge sharing and business linkages between textile factories and technology suppliers, addressing the need for credible information and technology transfer.
Building Industry Capacity Through Sustainable Practices
Through technical training programs, knowledge-sharing sessions, and support for cleaner production, energy efficiency, and rooftop solar PV adoption, TTBC plays a pivotal role in building industry capacity.
A Proven Track Record of Success
With over 103 B2B linkages, 58 workshops, and knowledge materials for over 2300 participants, TTBC has made significant contributions to the textile industry.
Comprehensive Services and Expertise
TTBC offers a range of services, including B2B linkages, tailored services, promotion of resource-efficient technologies, capacity building programs, and a networking platform. Its expertise lies in textile specialists, resource efficiency specialists, communication experts, and business development officers.
Ensuring Continued Operation and Growth
Recently taken over by BGMEA to ensure its continued operation, TTBC remains committed to empowering the textile industry with sustainable solutions, fostering innovation, and promoting sector growth.

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Apparel 23-11-08

Tirupur Knitwear Industry Faces Challenges from Bangladesh & MMF

Tirupur, India's top knitwear hub, is facing challenges from Bangladesh and man-made fibres. The Free Trade Agreement between India and Bangladesh has allowed Bangladesh to import fabrics into India without customs duty, making them cheaper and more competitive.
Role of FTAs
Bangladesh is also exporting high-tech finished apparels to the EU and US markets at a lower cost due to its duty-free status and access to cost-effective raw materials from China.
MMF trend is on the rise
The increasing popularity of man-made fibres, which are cheaper and more durable than cotton, is also affecting Tirupur's knitwear business.
Challenges galore
Tirupur manufacturers are also facing a global demand slowdown and reduced export orders.
Tirupur manufacturers will now have to wait until the end of this year for 2024 spring-summer orders, which means that profits will not come in for a long time.

Apparel 23-11-01

TEA's New Team Aims to Boost Tirupur's Apparel Exports

26 October 2023, Mumbai

The new TEA team, led by KM Subramanian, is committed to boosting Tirupur's apparel exports to Rs. 30,000 crore. This ambitious goal follows in the footsteps of Padamshree Dr. Sakthivel, who pioneered India's apparel export journey.
Visionary
Dr. Sakthivel has enabled Tirupur to align its manufacturing and purchasing capabilities, leading to a significant export order of $50 million in a year.
TEA's Brand Tirupur initiative makes it the only city that manufactures and exports apparel, striving for carbon footprint certification by 2030.
Evolving story
For the first time, domestic apparel brands have been acknowledged in the context of manufacturing and sourcing from Tirupur.
Notably, Tirupur has embraced sustainability, ESG standards, and compliance naturally over the last four decades.

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Apparel 23-10-26

AEPC: Targets target, code named '40 by 30'

06 November 2023, Mumbai

The Indian Apparel Export Promotion Council (AEPC) has set a vision of reaching USD 40 billion in apparel exports by the year 2030. The council plans to achieve this goal by taking various steps, such as finding new markets and forming strategic alliances.
Missionary Zeal
AEPC Chairman Naren Goenka said that the council will focus on innovation, market expansion, product diversification, and ethical and sustainable business practices. “We have a dream of making USD 40 billion in apparel exports by 2030.
This dream, called ‘40 by 30,’ shows our strong determination to challenge ourselves and reach new heights,” he said.

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Apparel 23-11-06

CBME India 2024

30 October 2023, Mumbai

Bigger and better business opportunities with key buyers from India and beyond
CBME India 2024, the 8th edition of the prestigious trade show, offers an unparalleled opportunity to connect with key buyers and decision-makers from the Indian subcontinent's mother and children sector.
Forge alliances with leading Indian and international buyers
With 150 influential exhibitors, 8 country pavilions, over 6,000 trade visitors, and 200 top hosted buyers, CBME India 2024 is the perfect platform to showcase your flagship products and solutions to a captive audience.
Supported by national and regional associations.

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Apparel 23-10-30

Indian clothing size a game changer for the $96.5 billion domestic industry

26 October 2023, Mumbai

In 2023, India's apparel retail market is projected to be worth $96.57 billion, generating a revenue of $1.4 billion. From 2022 to 2023, the domestic clothing market grew by a sizeable 15 percent—more so because of price hikes than volume.

In the segmented market, women’s wear holds the largest share. So far, Indian clothing were based on international clothing sizes, viz., US and UK sizes, for standardization of products and customer requirements. Currently, 40 nations worldwide follow the UK sizes.
Need for standardization
However, for such a large consumer base with different body types compared to the Western population, it only made sense that Indian consumers are facilitated with sizes that are more relatable. As per a study by the Indian Journal of Science and Technology, the average body measurements of Indian men and women are significantly different from their Western counterparts, particularly shoulders, chest, waist, and hips.
The study highlights the need for a size chart that caters to the specific needs of the Indian population. Japan and China have long had their own domestic market-specific sizes, and soon Indians too will have their own clothing sizes to refer to while buying clothes and shoes. Piyush Quotes

Goyal, Minister for Textiles, has said that following the completion of a statewide survey, India will soon have its own standard body sizes for the apparel industry, although it would take some more time to sort out the sizes in footwear.
The faculty of the National Institute of Fashion Technology (NIFT) have surveyed every state to arrive at a standardized size chart for Indian consumers. The Ministry of Textiles had invested $4 million to conduct the survey.
INDIAsize survey
Called INDIAsize, this standardized size chart will have a big impact on the entire clothing and later, footwear industries. With a population of over 1.3 billion, the apparel industry caters to a vast customer base. However, the lack of standardization in body sizes has been a major challenge for the industry, as US and UK sizes don’t fit Indian body types.

NIFT carried out this mission to bring the Indian size chart into play. Approximately 25,000 men and women between 15 and 65 years old were measured in six cities located in six regions of India: New Delhi (North India), Mumbai (West India), Chennai (South India), Hyderabad (Central India), Kolkata (East India), and Shillong (North-East India).

Trade View

Sanjay K Jain, Director, TT Limited, which manufactures yarns and textiles, opines that the INDIAsize chart will allow garment manufacturers in India to produce more bespoke-size clothing, which will move faster as customers will find it fits better than the current size standards.

This will have a positive impact on inventory and orders and have greater outreach across India as a large segment of non-metro customers are not familiar with or confident about making size choices based on the US or UK measurement system.

Ethnic wear will get a massive bump as it will reflect more realistic sizes. It will also help reduce imported clothing from South East Asia, particularly, for the more fitted garments.

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Apparel 23-10-26