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International 2021-10-23

Forever 21,the US retailer CEO steps down

22nd October 2021, Mumbai:

Daniel Kulle quits in less than two years after joining Forever 21 a global, American fashion retailer women's Wear famed brand. Agency reports that Kulle resigned assumingly because the job wasn't a good fit for him.

Daniel Kulle stepped down from this position as chief executive of one of the biggest global fast-fashion chains reportedly two weeks ago, reported Women’s Wear Daily. Notably, Kulle was at the helm of Forever 21 since February 2020 after spending 25 grand years with another acclaimed global fashion retail chain H&M.

Apparently, the company has not divulged any details on the confirmation of Kulle’s leaving and exactly who is managing the business in the interim period.

Swedish Daniel Kulle, Former President Of H&M North America, Named CEO Of Forever 21 | Swedes in the States

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International 2021-10-23

Forever 21,the US retailer CEO steps down

Texworld Evolution Paris relaunch show to be held from 7 to 9 February 2022

22nd October 2021, Mumbai:

The show presents an opportunity to exhibitors drawn from major textile and clothing (T&C) manufacturing countries from all across on the back of heightened interest in a renewed global economic environment.

Organizers will conduct its celebrated international event from 7 to 9 February 2022 at the Parc des Expositions du Bourget. As per the scheme of things it stacks as follows; For three days (3), Apparel Sourcing Paris meant for the finished garment sourcing, whilst Avantex Paris is focused on new materials and innovative processes,

Leatherworld Paris is distinctively designated to the leather and allied materials market, and Of course, Texworld Paris is designed for textile sourcing, consciously the event focuses as in one-stop show for a global offer for fashion brands, from RTW) ready-to-wear to the luxury side of the trade.

The unique positioning of the show is a strong pitch and case it makes for providing buyers with unique forward-looking visibility of the emerging trends including mega trending driving trade direction & decisions for the spring-summer 2023 season.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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International 2021-10-22

Texworld Evolution Paris relaunch show to be held from 7 to 9 February 2022

Circular economy theme plays out: European nations look at steps to adopt sustainable practices in textile sector

19th October 2021, Mumbai:

Eleven European countries—Austria, Belgium, Denmark, Finland, France, Germany, Luxembourg, the Netherlands, Norway, Spain, and Sweden—recently called on the European Commission to formulate, crystalize and start to execute audacious steps to whip on waste in the textiles long supply chains, contemplated to be recommended in the coming seasons.

In a joint communique, the fact which was outlined was that writing is clear on the walls is the circular textile economy has to be the way forward.

It was stressed that it has to be a business imperative to accomplish Europe’s climate ambitions by helping the textile industry become more competitive and sustainable if the mother planet has to be saved from the devastation in the face of fast-changing global climate and this concern is real for now, the countries said.

How I Found the Circular Economy: Biomimicry and the Power of Design – Biomimicry Institute

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1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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International 2021-10-19

Circular economy theme plays out: European nations look at steps to adopt sustainable practices in textile sector

BGMEA underlines the need for reskilling/ upskilling RMG workforce to its government

15th October 2021, Mumbai:

Quite recently apex Bangladesh clothing trade body, The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have appealed & exhorted the government to look at seriously at this juncture measures to help workers with re-skilling, upskilling, new-skilling to cope up with fast-changing global trade landscape & reading the insightful trade, more particularly in the light of the Fourth Industrial Revolution (4IR).

BGMEA’s president Faruque Hassan is also believed to have pleaded & requested the ministry of labour and employment to work out efficiencies ways & means to use the central fund aiming at improving the business environment giving the right impetus to this sector post-Covid.

The timing is apt when Bangladesh needs to move the needle to get into the next growth phase to keep the flag flying.

Besides re-looking at the overall business environment both back home and emerging global trade dynamics in the RMG industry. There is a need to overhaul workplace safety and sustainable compliances in response to emerging regulatory challenges pandemic has thrown in the new paradigm.

Upskilling and Reskilling - The Future of Workplace

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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International 2021-10-15

BGMEA underlines the need for reskilling/ upskilling RMG workforce to its government

Matalan, British clothing retailer clocks Q2 operating profit to be £35m

21st October 2021, Mumbai:

Matalan's Operating profit holding company Missouri Topco for the Q2 clocked £35m, this comes on the back rising revenue 2.5% to £264.7m, inched up from corresponding period's £258m. Profit after tax and exceptional items for the Q2 was registered at £11.6m.

It is interesting to mention the corresponding 2020 period in 2020 brand had to concede in the backdrop of global black swan event COVID-19 a loss of £22.7m.

Shrugging off the effect of “pandemic” over the summer, customer preference for the brand's new outfits remained strong. What is a very favorable metric for the brand is that full-price sales showed an impressive increase of 25% year on year.

With this demand tailwind too, the world continues to be cautiously optimistic as the downside risks are lurking in the form of supply-side disruptions and constraints.

It is important to keep reminding ourselves virus is still within us and the world is not out of woods just as yet. The synchronized global recovery comes in as a shot in the arm for the fashion retail sector.

Operating Profit Margin - Formula, Meaning, Example and Interpretation

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

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International 2021-10-21

Matalan, British clothing retailer clocks Q2 operating profit to be £35m

Uniqlo parent Fast Retailing sees profit rise this fiscal year

18th October 2021, Mumbai:

UNIQLO is a clothing apparel company, which was originally founded in Yamaguchi, Japan in 1949 as a textiles manufacturer.

Interestingly what has clearly supported the cause of Fast Retailing, owing fashion giant Uniqlo, China, and Asia-Pacific markets have conspicuously helped offset the not so strong its home Japanese market demand.

Its earnings to rise by 3% to hit another record high of 175 billion yen ($1.54 billion) in the year ending next August, is a good sign for this global group. Everything went from favorable revenue to rise by a similar extent to 2.2 trillion yen over the corresponding period.

What is reassuring is that Online numbers have also been in line with street expectations, with sales hiked by encouraging 20 percent in the period in question.

TOP 5:

1. Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

2. Consumers will determine growth of sustainable fashion e-comm in India

3. Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

4. Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

5. Nike strengthens retail presences with new store at DLF Mall of India,Noida

Return to homepage

International 2021-10-18

Uniqlo parent Fast Retailing sees profit rise this fiscal year

Hugo Boss revises 2021 outlook as continues to be on a strong wicket

15th October 2021, Mumbai:

Germany-based legendary fashion retailer 'Hugo Boss' on Thursday revised its outlook for the calendar year as going is very encouraging and on the back of Q3 earnings rebound it has experienced and demand tailwind it is seeing in Europe and the Americas.

Q3 sales and EBIT stood at 755 million euros and 85 million, respectively, which is an impressive comparison v/s last year but also within quick comparison to pre Covid 2019 too.

Given the heightened consumer confidence & global synchronized economic recovery group now expects sales to grow by about 40% in 2021 on a currency-adjusted basis, v/s previous earlier target growth range of 30-35%.

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International 2021-10-15