29 September 2023, Mumbai

Soktas, a luxurious cotton fabrics brand by Grasim Industries, part of Aditya Birla Group, today announced the opening of its first ever exclusive brand outlet in India at Jayanagar, Bengaluru. The store was inaugurated by actor and director of Kannada Cinema - Darling Krishna and Mr. Jasvinder Kataria, COO – Domestic Textiles, Grasim industries, Aditya Birla Group.

Array

Soktas offers an exceptional range of premium cotton shirting fabrics, made with 100% premium cotton and natural blends. Each piece of fabric is meticulously created using super-fine, high-quality yarns, resulting in an impeccable finish and a luxurious feel.

The outlet in Jayanagar is designed to provide customers with an immersive shopping experience, showcasing an exquisite range of fabrics that cater to diverse fashion preferences and providing a bespoke solution for every custom tailoring need.

Quotes

Speaking on the launch, Mr. Jasvinder Kataria, shared his excitement saying, "The launch of SOKTAS' first ever exclusive retail outlet in Bengaluru is a significant milestone for us. Our fabrics are not just textiles; they are expressions of elegance and sophistication. We are thrilled to bring a world of premium luxury cotton fabrics to the city's fashion-forward men. With our Turkish heritage and unwavering commitment to quality, SOKTAS is set to redefine the way Bengalureans experience fine fabrics."

Actor Darling Krishna, who was present at the inauguration, shared his excitement about the brand saying, “As an actor, I have always been captivated by the spirit of Bengaluru. The city consistently stays ahead in all fields ranging from sports to technology to entertainment. Now, there will a brand in Namma Bengaluru that shares my vibe of being ahead in life. I am thrilled to personally experience Soktas and its exceptional range of luxurious cotton fabrics and elevate my style game.”

DNA

SOKTAS believes in responsible sourcing and ethical practices, ensuring that every fabric tells a story of quality and consciousness. The brand's commitment to sustainability is reflected in its certifications, including GOTS, OEKOTEX, and ISO – 9001.

SOKTAS sells through 3000+ multi-brand premium fabric retail outlets across India.

The grand opening of SOKTAS' exclusive outlet in Jayanagar promises to be a landmark event in the world of luxury fabrics offering its customers multi-weave patterns such as premium jacquards, fil-coupe jacquards, and clip dobby fabrics, among others.

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21 September 2023, Mumbai

Worldwide, home textiles as a sub-sector of the global textile industry is expected to clock in good CAGR of 5.7 per cent for 2023 to 2030, says a Grand View Research report on the growth pattern of the global home textile industry. While in 2022 the value of home textile sector was $119 billion in 2022. Post Covid, home textile as a category is experiencing stable growth with demand for designed interiors is increasing, allowing the sector to provide a variety of options in terms of fabrics, hues and textures.

Business as usual

With real estate back in business in many parts of the world, new properties are coming up, opening up a bigger market. In 2022, within the home textile sector, 45 per cent share lied with bedroom linen and polyester ruled the popular fabric of choice position with 37 per cent.

Compared to the global growth rate, India’s home textile sector is forecasted to be on a higher plane with a CAGR of 9.8 per cent in from 2023-2030. In 2023, the value of the domestic sector is projected to close at around $8.7 billion. India accounts for almCAGost 7 per cent of global home textiles trade and is one of the top suppliers to the US, the world's biggest home textile consuming market.

India’s home textile gaining global edge

Increasing efforts in quality improvement, innovations through R&D programs, and other preferential value-added features have helped India's home textile products become popular globally.

Superior quality makes companies in India a leader in the US and the UK, which is contributing two-third to their exports. Delhi has emerged a major production and export center. Traditional craftsmanship along with its distinctive appeal is being effectively used for producing value-added home textile items.

Domestic growth drivers

The home textiles market in India is growing in leaps and bounds and in the process has attracted the attention of foreign brands that have entered the markets on their own or through joint ventures.

This has happened due to the growing affluence levels of Indian consumers who are becoming more demanding asking for exquisite home textile fabrics. The growth in Indian home textiles is supported by growing household income, increasing population, rising income levels, increase in organized retail, and growth of end-use sectors like housing, hospitality, healthcare.

Winning formula; In October 2020, Trident was granted patent for ‘Fitted Sheet With Improved Gripping Effect” by the United States Patent Office. The grant of this patent provides further recognition of the quality of the innovation being carried out by Trident.

Meanwhile, Trident’s eponymous brand MyTrident is on a winning streak as it ambitiously works towards increasing its turnover to Rs 1,000 crore. 

Part of the $3-billion Trident Group, the textile division had a turnover of Rs 3,460 crore as of March 2023, comprising 55 per cent of the net sales. This was a 14 per cent decrease from the financial year ending March 2022.

CRISIL report indicates favorable growth

Now a CRISIL Ratings report that analyzed 40 Indian home textile manufacturers that account for 45 per cent of the sector’s revenues says 75 per cent of the revenue is derived from exports and the US is the biggest market yet.

Data points; The domestic home textile sector can expect a rise of between 7 and 9 per cent in revenues in fiscal year ending March 2024. This comes after a 15 per cent fall in the last fiscal – clearly driven by stabilizing domestic cotton prices and restocking by large retailers worldwide.

This growth pattern looks feasible as domestic consumption increases rapidly to balance the ongoing international export orders being challenged.

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18 September 2023, Mumbai

India's textile and apparel industry is a major contributor to the country's economy, accounting for over 2% of GDP and generating employment for over 45 million people. FTAs play a vital role in boosting the industry's exports by eliminating or reducing tariffs and other trade barriers.

India's FTA Footprint

Over the past five years, India has entered into 13 FTAs, including noteworthy agreements with Mauritius, the UAE, and Australia. India is also actively engaged in negotiations for more FTAs, particularly with the UK and Canada.

Underutilized Potential

Despite the immense potential of FTAs, the Indian textile and apparel industry has not fully harnessed their benefits. This is due to a lack of awareness and understanding of the FTA framework among businesses.

CITI's Initiative

To address this issue, the Confederation of Indian Textile Industry (CITI) has partnered with the renowned law firm Lakshmikumaran and Sridharan to conduct a series of webinars on FTAs.

Webinar Insights

The inaugural webinar, titled "Utilizing Free Trade Agreements to Expand Export Opportunities," delved into the FTA framework, focusing on aspects such as rules of origin and tariff/non-tariff notifications that businesses should carefully consider before making import or export decisions with FTA countries.

Industry's Concerns

T Rajkumar, Chairman of CITI, expressed concern that the industry has not fully harnessed the potential of FTAs. He emphasized the need to raise awareness within the industry and encourage stakeholder discussions on how to effectively utilize FTAs.

Recommendations

The Indian textile and apparel industry must take advantage of FTAs by aligning with partner countries, complying with FTA regulations, and maintaining global quality standards and competitive pricing.

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07 September 2023, Mumbai

Reliance Industries Ltd. (RIL) and R.R. Lene, a prominent player in the textile industry, announced their collaboration in the uniform segment at the Asiatex '23 exhibition held at the Jio Convention Centre in Mumbai.

This partnership marked a significant milestone in the uniform industry, showcasing a wide range of sustainable and high-performance products.

Collaborative approach

The centerpiece of this collaboration was the introduction of R|Elan™ fabrics, thoughtfully designed to meet the evolving requirements of corporate and school uniform consumers.

• The three-day exhibition, held from August 31 to September 2nd, served as a valuable platform for visitors to explore the innovative world of sustainable textiles and embrace global best practices that promote eco-friendly growth in the uniform sector.

This partnership is a major step forward in the development of sustainable uniforms. By combining RIL's technological expertise with R.R. Lene's experience in the textile industry, the two companies are creating innovative fabrics that meet the needs of today's consumers and protect the environment for future generations.

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26 September 2023, Mumbai

Growing Production in Asia-Pacific 

Lenzing Group, a global leader in wood-based specialty fibers, is set to boost production of responsible viscose fibers for its textile brands LENZING™ ECOVERO™ and nonwoven VEOCEL™ in the Asia-Pacific region. 

Green Transformation in Indonesia T

he viscose fibers are manufactured at Lenzing's Purwakarta facility in Indonesia, which has transformed to minimize sulfur emissions, annual CO2 footprint, and wastewater generation. 

Sustainability Meets Demand 

Lenzing's investment in Indonesia aligns with its strategy to meet the rising demand for eco-friendly specialty fibers, especially in Asia. 

The proximity of the converted Purwakarta site to partners in the Asia-Pacific region allows for the efficient transport of responsible viscose fibers, reducing the overall carbon footprint of the textile supply chain. LENZING™ ECOVERO™: 

A Sustainable Choice 

LENZING™ ECOVERO™ branded viscose fibers offer up to 50% lower fossil energy and water usage compared to generic viscose. These fibers hold EU Ecolabel certification and find application in various fashion products like tops, dresses, t-shirts, and loungewear. 

Innovative LENZING™ ECOVERO™ 

Black Fibers By the end of 2023, Lenzing's Purwakarta site will introduce LENZING™ ECOVERO™ Black specialty fibers. 

These innovative fibers significantly reduce water and energy consumption in fabric dyeing, thanks to a spun-dyeing process with a lower carbon footprint. Progress in Reducing Carbon Emissions 

Lenzing's investment in the Asia-Pacific region aligns with its ambitious sustainability goals. 

The converted production site has already succeeded in reducing CO2 emissions by approximately 130,000 tons annually, contributing to Lenzing's commitment to reduce group-wide CO2 emissions per ton of product by 50% by 2030 and achieve CO2-neutral production by 2050. 

Meeting the Demand for Sustainable 

Fashion Lenzing's expansion in Asia-Pacific is a positive step towards addressing the increasing demand for sustainable and responsible fashion, showcasing the company's commitment to environmental stewardship.

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