12 September 2023, Mumbai

KKR invests Rs 2,069.50 crore in Reliance Retail Ventures Limited

This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore

KKR's follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis

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RRVL, through its subsidiaries and associates, operates India's largest, fastest-growing, and most profitable retail business

RRVL's vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers

Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30, 2023

KKR's follow-on investment in RRVL furthers its relationship with Reliance Industries Limited

Here is a more detailed explanation of each subtitle:

• This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore. This means that the total value of RRVL, before the investment, is Rs 8.361 lakh crore.
• KKR's follow-on investment will translate into an additional equity stake of 0.25% in RRVL on a fully diluted basis. This means that KKR will own an extra 0.25% of RRVL after this investment.
• RRVL, through its subsidiaries and associates, operates India's most extensive, fastest-growing, and most profitable retail business. RRVL is a subsidiary of Reliance Industries Limited, and it operates a wide range of retail companies in India, including grocery stores, fashion stores, and electronics stores.
• RRVL's vision is to galvanize the Indian retail sector through an inclusive strategy serving millions of customers. RRVL wants to make retail more accessible and affordable for all Indians.
• Founded in 1976, KKR has approximately $519 billion in assets under management as of June 30, 2023. KKR is a global investment firm that has invested in a wide range of businesses, including technology companies, retail companies, and financial services companies.
• KKR's follow-on investment in RRVL furthers its relationship with Reliance Industries Limited. KKR has previously invested in Reliance Industries Limited's digital arm, Jio Platforms.

Latest Textile Events

08 September 2023, Mumbai

An overview

• The Indian textile industry has a long and rich history.
• It is one of the largest and most diverse textile industries in the world.
• The industry has been growing rapidly in recent years.
• Mega textile hubs are playing a crucial role in the growth of the Indian textile industry.

Textile hubs ignite economic growth

• Mega textile hubs are large industrial parks that bring together all the elements of the textile value chain under one roof.
• This includes raw material suppliers, manufacturers, exporters, and retailers.
• By bringing together all these players in one place, mega textile hubs create economies of scale and boost efficiency.
• They also make it easier for businesses to collaborate and innovate.

Innovation: The key to success

• The textile industry is constantly evolving, and innovation is essential for success.
• Mega textile hubs provide a conducive environment for innovation by bringing together businesses, researchers, and designers.
• This collaborative ecosystem helps to develop new products and processes that meet the needs of consumers.

Employment and investment opportunities

• Mega textile hubs create significant employment opportunities, especially in rural areas.
• They also attract foreign investment, which brings capital and technology into the country.
• This helps to boost economic growth and create jobs.

Sustainability: A top priority

• The textile industry is a major polluter, so sustainability is a top priority.
• Mega textile hubs can lead the way by adopting sustainable practices such as recycling and water conservation.
• This will help to protect the environment and ensure the long-term sustainability of the industry.

Policy support: The way forward

• The Indian government plays a crucial role in supporting the development of mega textile hubs.
• The government can provide financial assistance, create a favorable regulatory environment, and promote public-private partnerships.
• By taking these steps, the government can help to make India a global leader in the textile industry.

Wrap up

Mega textile hubs are a key driver of growth in the Indian textile industry. They offer a number of advantages, including economies of scale, innovation, employment opportunities, and investment. 

The Indian government can play a crucial role in supporting the development of mega textile hubs.

Latest Textile Events

06 September 2023, Mumbai

The global industrial workwear market is projected to grow at a CAGR of 5.9% from 2023 to 2033.

The market is driven by the increasing demand for safety and comfort in the workplace, the growing awareness of occupational hazards, and the increasing adoption of smart industrial workwear.

Video Insights
Key Dynamics
Increasing cases of occupational hazards: Workers in manufacturing and related industries are becoming more aware of occupational hazards, and as a result, employers are imposing a safer workplace.

This is driving the demand for industrial workwear that provides protection from hazards such as fire, chemicals, and falls.
Changing customer preferences:

Consumers are increasingly demanding workwear that is comfortable, stylish, and functional. This is leading manufacturers to develop new and innovative workwear products that meet these demands.
Increasing rate of ergonomically designed products:

Ergonomically designed workwear helps to reduce stress on the body and improve productivity. This is a key trend in the industrial workwear market, and it is expected to continue to grow in the coming years.
Country-wise Insights
United States: The US is the largest market for industrial workwear, and it is expected to continue to grow in the coming years. This is due to the large number of manufacturing and industrial companies in the US, as well as the high awareness of occupational hazards.
China:

China is the second-largest market for industrial workwear, and it is expected to grow at a rapid pace in the coming years. This is due to the country's growing manufacturing sector and the increasing awareness of occupational hazards.
India:

India is a rapidly growing market for industrial workwear, and it is expected to experience significant growth in the coming years. This is due to the country's growing manufacturing sector and the increasing awareness of occupational hazards.
Category-wise Insights
Top wear: Top wear is the most popular type of industrial workwear, and it is expected to remain the dominant category in the coming years. This is due to the fact that top wear provides protection for the upper body, which is the most vulnerable part of the body in many industrial settings.
Bottom wear:

Bottomwear is the second most popular type of industrial workwear, and it is expected to grow at a steady pace in the coming years. Bottom wear provides protection for the lower body, which is also vulnerable to injury in industrial settings.
Overalls:

Overalls are a type of industrial workwear that covers the entire body. They are typically used in industries where there is a high risk of exposure to hazardous materials or chemicals. Overalls are expected to grow at a moderate pace in the coming years.
Distribution Channel Insights
Direct sales: Direct sales is the most popular distribution channel for industrial workwear. This is because it allows manufacturers to sell their products directly to businesses and organizations.
Retail sales:

Retail sales are the second most popular distribution channel for industrial workwear. This is because it allows consumers to purchase industrial workwear from brick-and-mortar stores.
Online sales:

Online sales are expected to grow at a rapid pace in the coming years. This is due to the increasing popularity of online shopping and the convenience of purchasing industrial workwear online.
Synopsis
The global industrial workwear market is expected to grow at a CAGR of 5.9% from 2023 to 2033. The market is driven by the increasing demand for safety and comfort in the workplace, the growing awareness of occupational hazards, and the increasing adoption of smart industrial workwear.
Here are some of the key trends that are expected to shape the global industrial workwear market in the coming years:
The increasing demand for smart industrial workwear that is equipped with features such as GPS tracking, heart rate monitoring, and fall detection.
The growing adoption of sustainable materials in the production of industrial workwear.
The increasing popularity of online sales of industrial workwear.
The global industrial workwear market is a dynamic and growing market. The market is expected to continue to grow in the coming years, driven by the factors mentioned above.

CREDITS: Future Market Insights report

Latest Textile Events

09 September 2023, Mumbai

The textile recycling industry is on a trajectory to witness remarkable growth, with projections indicating a market value of US$ 4.8 billion in 2023 and an expected surge to US$ 6.6 billion by 2033, driven by a compelling CAGR of 3.2% during the 2023-2033 forecast period. 

Growing environmental concerns and innovative recycling technologies are driving the growth of the textile recycling market.

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Key Market Trends and Highlights

Environmental concerns surrounding textile waste generation and heightened social awareness about textile recycling are set to propel market expansion. Government agencies and private enterprises are increasingly turning to textile recycling to address mounting textile waste management issues.

Notably, discarded textiles contribute significantly to the waste stream in the United States, prompting the government's initiative to achieve zero waste by 2037 through the Council for Textile Recycling (CTR).

Textile Recycling Market Key Drivers

Innovative recycling technologies, spanning mechanical, chemical, and enzymatic processes, are evolving to more efficiently process diverse textile materials. 

This advancement enables superior fiber separation, dye removal, and the production of high-quality recycled textiles. 

The concept of a circular economy is gaining traction, with brands and manufacturers integrating circular principles into their business models, driving demand for recycled yarn. Textile-to-textile recycling, where textiles are transformed into fibers for new fabrics, is on the rise, aided by AI-based automation and grading technologies

The surge of startups dedicated to textile recycling reflects the growing sector interest and investment, often introducing cutting-edge technology to address long-standing challenges. Furthermore, industry groups are launching campaigns to educate both consumers and businesses about the advantages of textile recycling, influencing behavior and fostering a sustainability culture.

Challenges in the Textile Recycling Market

Textile recycling presents unique challenges due to its composition of fibers, blends, dyes, and finished products, necessitating specific handling methods. 

The absence of standardized identification or labeling systems for textiles could pose growth impediments in the coming decade. Quality control also remains an issue, with contamination by non-recyclable items like buttons and zippers diminishing the value of recycled materials.

Comparative View of Adjacent Markets

In a comparative analysis, the textile recycling market is positioned to dominate among textile staples and air-laid textile markets during the 2023-2033 forecast period. Growing consumer demand for eco-friendly products and sustainability awareness opens opportunities for horizontal expansion among vendors.

Sustainable Practices Among Manufacturers Driving United States Market

The United States is expected to reach a market value of US$ 1.2 billion by 2033, boasting a CAGR of 3.1%. 

This surge in the textile recycling market stems from heightened awareness of textile waste's environmental impact and the growing imperative to divert textiles from landfills. As the world's top consumer of clothing and textiles, the United States generates significant textile waste, making recycling a crucial element of waste reduction strategies.

The market is experiencing rapid technological advancements, including improved sorting methods, chemical recycling processes, and the introduction of new recycled textile materials. Nonprofit organizations are actively promoting textile recycling and raising awareness among businesses and communities.

The United Kingdom Spearheads Circular Fashion in Europe

In the United Kingdom, textile recycling is gaining momentum, with a projected CAGR of 2.9% from 2023 to 2033, reaching a market size of US$ 247 million by the end of the forecast period. To address the fashion industry's substantial carbon footprint, the UK government has implemented measures to hold fashion businesses accountable for recycling costs and encourage sustainable design and labeling.

Leading initiatives such as the Sustainable Clothing Action Plan and Textile 2030 aim to reduce the environmental impact of the textile sector through science-based targets, driving the adoption of circular fashion practices.

Competitive Landscape

The global textile recycling market boasts a diverse mix of large and small-scale players, each employing various strategies to achieve growth. These strategies encompass technology development, expansion, mergers, and acquisitions to enhance market share, reach, and revenue.

In April 2023, Circ partnered with Zara to launch a women's clothing collection crafted from recycled lyocell and polyester extracted from mixed textile waste. 

Meanwhile, Lenzing Group introduced LENZINGTM ECOVERO with REFIBRATM technology in 2023, furthering its commitment to a circular economy in the textile and fashion industry. 

Birla Cellulose joined forces with TextileGenesisTM in May 2023, offering traceability and transparency solutions for the fibers and garments industry, emphasizing collaboration with brands and supply chain partners to scale its circular business model.

CREDITS: Future Market Insights report 

Latest Textile Events

07 September 2023, Mumbai

Bird’s eye view:
o The global industrial workwear market is estimated to be worth US$17.3 billion in 2023 and is projected to reach US$30.8 billion by 2033, growing at a CAGR of 5.9%.
o The market is driven by the increasing demand for safety and comfort in the workplace, the growing awareness of occupational hazards, and the increasing adoption of smart industrial workwear.
Key Dynamics in the Industrial Workwear Market Worldwide
o Increasing Cases of Occupational Hazards
 Workers in manufacturing and related industries are becoming more aware of occupational hazards, and as a result, employers are imposing a safer workplace.
 Workwear is crucial in ensuring that people are working and performing in a safe atmosphere.
Changing Customer Preferences Towards Smart Industrial Workwear
 Manufacturers in the industrial workwear market have been spending a lot on product development in recent years, trying to find more robust ways to secure consumers.
 Most current workwear comes with multi-purpose facilities such as sweat-proof fabric, multiple pockets for carrying, fireproof materials, etc.
Increasing Rate of Ergonomically Designed Products
 One of the most recent trends in the protective workwear market is the rise of ergonomically designed safety clothing.
 Men's industrial safety clothing with ergonomic designs helps lessen stress on the body and gives it adequate support.
Country-wise Insights
USA
 The US population is expected to be one of the largest consumers in the industrial workwear market by the year 2033.
 Demand for high-performance fabrics with moisture management and thermal regulation capabilities is growing in a variety of industries, including automotive, petrochemicals, construction, mining, and logistics.
China
 With the growing penetration of significant firms in the region, China has been a potential market for industrial workwear.
 The expanding use of industrial workwear in China is a result of the country's growing manufacturing and service sectors.
India
 The industrial workwear market in India is experiencing strong growth as a result of a number of factors.
 The increased demand for safe, ergonomic, and long-lasting workwear is one of the major reasons driving the market in India.
Category-wise Insights
o Top Wear Industrial Workwear
 Top wear industrial workwear is gaining market share over other products.
 Players in the industry offer a variety of consumer-friendly safety features.
o Service Industry
 The service Industry is the most prominent end-use industry in the industrial workforce.
 The category is expected to increase at a faster rate in the coming years, due to factors such as the fact that workwear uniforms help users stand out from the crowd.
Distribution Channel
o Multiple distribution channels are used to sell industrial workwear, including direct sales, online sales, and offline sales.
o Online sales are expected to grow at the fastest rate in the coming years, due to the increasing popularity of online shopping.

5 Key Insights:

• Market size: US$17.3 billion in 2023, US$30.8 billion by 2033
• Drivers: Safety, comfort, smart features
• Key trends: Ergonomics, high-performance fabrics, growing service sector
• Category: Top wear gaining market share
• Distribution: Online sales to grow fastest

CREDITS: Future Market Insights report.

 Latest Textile Events

05 September 2023, Mumbai

Market Overview

• The global cotton candy machines market is expected to be worth US$ 108.4 billion in 2023.
• The market is projected to grow at a CAGR of 4.62% between 2023 and 2033, anticipated to be valued at around US$ 170.4 billion by 2033.
• Key drivers of market growth include rising demand for sugar-free candies, increasing number of new product developments, and growing popularity of cotton candy machines in emerging markets.

Key Trends

• Manufacturers are focusing on designing cost-effective and technologically advanced machines.
• There is a growing demand for portable and easy-to-use cotton candy machines.
• Companies are increasingly launching sugar-free and organic candies to meet the growing health consciousness of consumers.

Regional Analysis

• North America is the largest market for cotton candy machines, followed by Europe and Asia Pacific.
• The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period, driven by the increasing popularity of chocolate-based confectionery goods and the growing population in the region.

Challenges

• High maintenance costs and complex installation procedures are some of the challenges that could hinder the growth of the market.
• The market is also facing competition from other confectionery products, such as lollipops and ice cream.

Short Message

Overall, the global cotton candy machines market is expected to grow steadily in the coming years. 

The market is being driven by the increasing demand for sugar-free candies, the growing popularity of cotton candy machines in emerging markets, and the rising number of new product developments.

The global cotton candy machines market is expected to grow at 4.62% CAGR to reach $170.4 billion by 2033, driven by rising demand for sugar-free candies and increasing popularity in emerging markets.

CREDITS: Future Market Insights report

Latest Textile Events

08 September 2023, Mumbai

A recent survey by the United States Fashion Industry Association (USFIA) found that Bangladesh remains the least expensive apparel sourcing nation. 

However, the survey also found that Bangladesh faces challenges in terms of speed to market, sourcing flexibility and agility, and environmental compliance.

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Survey

The survey, which was conducted among 30 US-based fashion brands, found that Bangladesh scored 4.5 out of 5 in terms of sourcing cost, followed by Indonesia at 4 points. 

However, Bangladesh scored the lowest among Asian competitors in terms of speed to market, with a mere 2 points. China led in this category with a score of 3.5.

In terms of sourcing flexibility and agility, China and Vietnam were rated the most competitive, while Bangladesh was ranked the lowest. 

This is due to the fact that Bangladesh has been slow to recover from the COVID-19 pandemic, and has experienced supply chain disruptions.

Outcomes

Finally, Bangladesh scored 2.5 out of 5 in terms of environmental compliance, sharing the bottom spot with India, Vietnam, and China. 

This is due to the fact that Bangladesh has been criticized for its poor labor practices and environmental record.

Despite these challenges, Bangladesh remains a popular apparel-sourcing destination for US brands. 

This is because Bangladesh has a large and skilled workforce, and offers competitive production costs. 

However, Bangladesh will need to address its challenges in order to remain competitive in the long term.

Commentary:

The USFIA survey highlights the challenges that Bangladesh faces as an apparel-sourcing nation. However, it also shows that Bangladesh remains a competitive option for US brands. If Bangladesh can address its challenges, it could continue to grow its apparel exports in the years to come.

Here are some specific steps that Bangladesh could take to address its challenges:

Improve its speed to market by investing in infrastructure and logistics.

Increase its sourcing flexibility and agility by reducing bureaucracy and improving the ease of doing business.

Improve its environmental compliance by implementing stricter regulations and enforcement.

By taking these steps, Bangladesh can position itself as a sustainable and ethical apparel sourcing destination for US brands.

Latest Textile Events

07 September 2023, Mumbai

Sabyasachi's New Flagship Store in Mumbai

• Sabyasachi Mukherjee, a renowned Indian fashion designer, has opened a new flagship store in Mumbai.
• The store is located in a restored early 1900s building in the city's financial district.
• The store is a sign of the growing luxury market in India.

Video Insights

The Growth of the Indian Luxury Market

• The Indian luxury market is growing rapidly.
• By 2027, it is expected to be worth $100 billion.
• This growth is being driven by a number of factors, including:
• The rise of a wealthy middle-class
• The increasing popularity of international brands
• The government's efforts to promote tourism

Sabyasachi's Store

• The Sabyasachi store is located in a Grade IIA heritage status building.
• The building was originally built in 1913 and housed the British Bank of the Middle East.
• The store has been restored to its former glory and features neoclassical design elements.
• The store sells a variety of Sabyasachi's designs, including wedding attire, jewelry, and home decor.

The Future of Luxury Retail in India

• The opening of the Sabyasachi store is a sign of the growing importance of luxury retail in India.
• Other luxury brands, such as Dior and Hermès, have opened stores in Mumbai recently.
• The Indian luxury market is expected to grow in the coming years, and more luxury brands are likely to enter the market.

Long & short

The opening of Sabyasachi's new flagship store is a significant event in the Indian luxury market. 

The store is a sign of the growing wealth and sophistication of India's middle class, and it is likely to attract even more luxury brands to the country in the years to come.

 Latest Textile Events

04 September 2023, Mumbai

The Indian textile and apparel industry is grappling with a decline in exports and a significant loss of jobs. 

Exports of textiles and apparel fell by 13.55% from April to July 2023, amounting to $10,154.83 million. This has led to the loss of millions of jobs in the sector.

Indian textile and apparel industry facing a decline in exports, government considering fiscal incentives.

Government response

The Indian government is considering providing fiscal incentives to the industry by the end of the year. 

These incentives could be channeled through the production-linked incentive (PLI) program, which has been designed to inject financial support into various manufacturing sectors.

PLI program

The PLI program offers incentives to companies that invest in and produce goods in specific sectors. In the case of the textile and apparel industry, the PLI program could be used to incentivize companies to set up new factories or expand existing ones. This would create jobs and help to boost exports.

Industry request

The industry has requested that the government provide incentives specifically aimed at smaller manufacturers. They have also asked the government to reconsider the 11% import duty on certain varieties of cotton. This duty makes it more expensive for Indian manufacturers to produce textiles, which makes them less competitive in the global market.

Concerns

The industry is concerned about potential job losses and is urging the government to take comprehensive measures to support the sector. They are also concerned about the impact of the decline in exports on the overall economy.

The textile and apparel industry is a major employer in India, providing jobs to millions of people. The decline in the industry is having a significant impact on the economy and the livelihood of many people. 

The government needs to take urgent steps to support the industry and prevent further job losses.

In addition to the fiscal incentives and the PLI program, the government could also take other measures to support the textile and apparel industry. 

These measures could include:

• Providing infrastructure support, such as roads, ports, and power, to make it easier for companies to operate in the sector.
• Facilitating access to credit for small and medium-sized enterprises.
• Promoting research and development in the sector.
• Investing in skills training for workers.

By taking these measures, the government can help to revive the textile and apparel industry and create jobs for millions of people.

Latest Textile Events