28 January 2022, Mumbai:

The Joint Apparel Association Forum of Sri Lanka (JAAF) called for intensive dialogue and greater stakeholder collaboration in order to arrive to resolve the current forex crisis, as well as legislative reform towards a more sustainable medium-long-term trajectory for Sri Lankan apparel.

These views were expressed at the recent Annual General Meeting (AGM) of the Association, the apex body representing five associations encompassing supply chain partners, the export- oriented apparel manufacturers, buying offices and representatives of international brands in Sri Lanka.

Addressing the gathering, newly appointed Chairman of JAAF and Deputy Chairman of MAS, Sharad Amalean commended the resilience demonstrated by the sector in the face of an unprecedented pandemic and outlined measures necessary for the sector to achieve its target of US$ 8 Bn in exports by 2025, while maintaining GSP+ and enhancing bilateral trade.

“Once again, Sri Lankan apparel has delivered an outstanding performance, achieving over US$ 5 Bn in exports last year amidst various challenges. While highly commendable, there are still many obstacles ahead of us.

In order to successfully navigate these uncertain times, it is essential that all stakeholders act with unity, and continue to engage in dialogue with authorities on issues pertaining to foreign exchange and the adoption of regulations that can ensure sustainable growth for our vital industry,” Amalean stressed.

“We must also continue to enhance our bilateral trade by engaging with regional partners and associations to enhance trade relations. The securing of a GSP+ extension beyond 2023 will be absolutely critical for the growth of our industry,” he added.

Meanwhile, outgoing JAAF Chairman, A. Sukumaran noted that the industry would likely face continuing disruptions to their supply chain over the coming year, making the need for continuous engagement across industry stakeholders an essential prerequisite to developing long-term solutions to the industry’s current and future challenges.

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24 January 2022, Mumbai: 

Imports of brassieres, including categories such as shapewear and foundation garments, of USA have touched US $ 2.57 billion in the first 11-month period of 2021, noting 46.81 per cent Y-o-Y surge.

Markedly, as per official US custom data, the imports have surpassed the figures of the same period in 2019 when USA imported brassieres worth US $ 2.07 billion.

China remained the top shippers of brassieres to USA during the mentioned period, while Vietnam, Sri Lanka, Indonesia and Bangladesh too noted steep increase in their respective shipment to the US market.

China’s export values in brassieres segment to USA stood at US $ 858.81 million, noting 48.64 per cent Y-o-Y growth in Jan.-Nov. ’21 period.

Vietnam may have seen a constant export in 2021 but the country has witnessed strong growth in brassieres category as it clocked US $ 496.76 million in its brassieres exports to USA, growing 52.77 per cent on yearly basis.

Sri Lanka’s shipment too remained positive in double-digits as it upped its exports of brassieres by 34.54 per cent to US $ 244.73 million in the said period.

Indonesia, the 4th top brassieres shipper to USA, earned US $ 238.97 million export revenues in the category and witnessed a significant growth of 89.64 per cent – the best growth rate amongst top 5 shippers.

Bangladesh, an emerging lingerie and intimatewear garment exporter to USA and 5th in the tally, shipped US $ 150.39 million worth of foundation garments to USA, registering 43 per cent annual growth till November in 2021.

CREDITS: Apparel Resources

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27 January 2022, Mumbai:

Good Earth, a fashion and lifestyle company, is celebrating its 26th birthday by collaborating with The Wildlife Trust of India on a new art campaign to raise awareness about endangered species.

Good Earth, a company that has long promoted sustainable and eco-friendly clothing manufacturing practices, has stated on Facebook that it is striving to increase awareness about endangered animals in India and South Asia.

As part of the brand's birthday celebrations, Nitin Brijwal collaborated with UK-based artist Rebecca Campbel to create a unique poster titled 'Living on the Edge,' which Good Earth is selling on its website with all revenues going to The Wildlife Trust of India.

Good Earth's creator and creative director Anita Lal stated on Facebook, "Birthdays are milestones when we acknowledge our blessings and look forward with optimism for a brighter future for everybody." "On our birthday, we'd want to draw attention to the predicament of some animal species that, although probably unknown to many of us, are facing extinction.

Many organizations, including the Wildlife Trust of India, are working relentlessly to prevent the extinction of our most endangered creatures. "We want to help in whatever manner we can to this noble endeavor."

"While it may appear ideal, these creatures on the verge of extinction are truly living on the edge," Lal explained. "We hope that the artworks raise awareness and encourage us and the younger generation to think more about sustainable living."

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24 January 2022, Mumbai: 

The Noida Apparel Export Cluster (NAEC) on Sunday sought immediate intervention of the government in containing high cost of cotton yarn and fabrics, saying rising prices are impacting exporters.

NAEC president Lalit Thukral suggested control in cotton exports, removal of 10 per cent cotton import duty, and development of a mechanism to regulate the prices of cotton and other raw materials to support the sector.

"Apparel industry is facing a severe problem of high cost of cotton yarn and fabrics. During the last couple of months the cotton prices have been hiked up to 80 per cent.

The prices of the cotton per candy of 335 kg went to Rs 74,000 from Rs 37,000. In apparel making, 75 per cent of raw material used is cotton," he said.

He added that the unexpected steep price rise of the cotton posed a great challenge to the apparel manufacturers and exporters as it is hurting the production cost, which has been increased many folds.

"Indian exporters are losing export orders and facing tough competition in the global export market.

Moreover, they are also losing confidence of the importers and the buying houses," Thukral said, adding the major reason for this situation is unchecked export of cotton to competing countries like Bangladesh, Vietnam and Thailand.

CREDITS: ET

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25 January, Mumbai: 2022

The capital market regulator Sebi has given Vedant Fashions permission to proceed with its proposed initial public offering for its event clothing brand Manyavar.

According to the Times of India, Kolkata-based Vedant Fashions submitted its draft IPO documents with Sebi in September 2021.

The company intends to conduct its IPO as a pure offer for sale, with over 363 lakh shares available. Over 174 lakh Rhine Holdings equity shares, as well as over 7.2 lakh shares held by Kedaara Capital Alternative Investment Fund- Kedaara Capital AIF 1, would be available for purchase.

Axis Capital, Edelweiss Financial, ICICI Securities, IIFL Securities, and Kotak Mahindra Capital are the book running lead managers for the offering. Manyavar offers a brick-and-mortar network of 525 unique brand locations, including 55 shop-in-shops, that sells traditional style event apparel. The brand is available in 207 Indian cities, as well as the United States, the United Arab Emirates, and Canada.

Mohey, Mebaz, Manthan, and Twamev are among the fashion brands owned by Vedant Fashions.

Ravi Modi, the company's founder and CMD, Shilpi Modi, and the Ravi Modi Family Trust are the company's promoters.

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24 January 2022, Mumbai: 

32nd GGMA NATIONAL GARMENT FAIR 2022 - POSTPONED

NEW DATES : 3rd,4th & 5th MARCH 2022*

*NEW VENUE : HOTEL HYATT REGENCY*
*ASHRAM ROAD, USMANPURA AHMEDABAD

About GGMA

The textile Industry has always played a pivotal role in the industrial and economic growth of our state of Gujarat. The Garment sector of this industry, which has witnessed an accelerated growth over last few years, is still having tremendous potential for growth in today’s era.

GGMA, established in 1990 with just only 150 members is now having over 1500 members as of date. GGMA is fortunate to receive an able support both from state and central government.

We have renowned fashion design Institutes like NIFT providing excellent designers. Our visionary state government having realized the potential in the sector, has set up apparel parks at strategic locations and also planning for domestic apparel park which will go a long way in feeling the progress of the industry.

The Gujarat Garment Manufacturers Association (GGMA) is an alliance of Garment Manufacturers who are together working toward making Gujarat of the most sought after destinations for Readymade Garment Industries in India.

The efforts of GGMA are directed toward making people aware about the business possibilities that the Readymade Garment Business in a Gujarat can provide them.

GGMA also creates a platform to avail business for its Members and promotes their Brands on National & International platform. One such kind of a platform is a National Garment Fair which creates a huge opportunities for each Members.

Not only can it prove to be profitable venture for Manufacturers, but even the buyers and wholesales From across India and other countries also have seriously started considering Gujarat as prospect for garment trade.

We at GGMA have been contributing toward the garment trade development of state and this show acts as a platform to spread those developments to citizen of state as well as the country. GGMA has also responded positively in providing social services in natural calamities like floods, earthquake and tsunami in the state.

We also do a “VASTRA ARPAN ABHIYAN” every year. we also give a SCHOLARSHIP to student in school of Ahmedabad. We also give a momentous to member’s son or daughter who are pass with more than 75 % in 10th and 12 th standard.

MISSION :

Guide…up to Growth Inspiration…up to destination..Surety. up to success.

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23rd January 2022, Mumbai: 

Bengaluru-based garment exporter Gokaldas Exports on Friday reported a big increase in its consolidated profit after tax (PAT) at Rs 30 crore for the December quarter over Rs 6 crore it recorded during the same period of last financial year.

As per The Economic Times report, the company recorded revenue growth of 95% during the quarter at Rs. 524 crore over Rs. 268 crore it achieved for the same period of last fiscal year.

In the December quarter, the company recorded an earning before interest, depreciation & amortization (Ebitda) of Rs. 63 crore, compared to Rs. 24 crore during the corresponding period of last year and Rs 54 crore in the previous quarter as per ET. The company said its Ebitda margin has improved by 3% over the same quarter of the last financial year.

During the last nine months, the company has incurred a capital expenditure of Rs. 42 crore towards capacity expansion and modernization of its business infrastructure.

**The statistics mentioned in the above articles have been sourced from The Economic Times. 

Credits: TheEconomicTimes, MoneyControl

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25 January, Mumbai: 2022

An expensive error that clothes manufacturing businesses may be making is failing to pay attention to the managerial abilities of factory supervisors. In garment factories, as in any other company that relies on human labor, some teams are more productive than others.

There appear to be a variety of talents and management styles that make some supervisors' teams more productive. According to research conducted by Good Business Lab (GBL), educating supervisors in specific skills might result in significant financial gains for the company.

GBL is a not-for-profit labor innovation organization with ongoing projects in India, the United States, and Latin America that employs rigorous research to create, test, and scale worker wellbeing programmes ranging from improving factory lighting to teaching frontline employees in soft skills.

GBL said in a statement that it detailed this in a learning paper issued in 2021 for Shahi Exports, one of India's largest and most competitive garment manufacturing enterprises. India's top garment exporter is Shahi Exports.

"In a lot of manufacturing environments, middle management (usually known as supervisors) are frequently merely employees who have progressed up the ranks," said Dr. Achyuta Adhvaryu, the research paper's primary author.

They may have technical expertise, but they typically lack the soft skills needed to ensure that everyone on their team feels empowered to be productive, such as fundamental communication skills, people management, and so on."

As a result, we may improve the productivity of their teams by educating supervisors in soft skills like communication as well as specific management abilities and practices like control, autonomy, and attentiveness.

GBL put it to the test in 2017 when it launched a training programme to investigate the effectiveness of training managers in these areas.

For starters, the STITCH (Supervisors' Transformation Into Change Holders) training reduced turnover, which is infamously high in this profession.

Supervisors who got training were shown to be 15% less likely to abandon their employment than those who did not get training throughout the research period.

The average returns from this training were enormous and constant, and the firm's investment was repaid hundreds of times over.

"A high-pressure work atmosphere, coupled with power dynamics, leads to supervisors often behaving in an authoritarian and hostile manner," stated Chitra Ramdas, GM, Organizational Development, Shahi Exports, who was directly engaged in planning and delivering the programme.

STITCH is one approach to address this problem by teaching supervisors soft skills like communication and problem-solving. 

This basic training, in our experience, has had a revolutionary influence on workplace relations and the work environment, resulting in broader organizational advantages.

We've already enrolled over 1,600 supervisors in the programme, with the objective of teaching all supervisors by 2024."

According to the press release, manufacturing lines with all managers taught had 7.3 percent higher efficiency during the training than lines with untrained managers. Furthermore, as compared to their untrained counterparts, STITCH-trained supervisors saw a 6% increase in average income rise.

"What we're demonstrating is that it has a massively and persistently disruptive influence, even in a nuts-and-bolts technical manufacturing situation."

So, in my opinion, the findings should be generalisable to other technical blue-collar contexts, and I believe the findings might be at least as significant in entry-level management posts in other sectors where soft skills are even more important, such as the service industry.

Dr. Anant Nyshadham, GBL's Chief Strategy Officer and co-author of the article, commented, "We're now going to expressly examine this in fast food and retail environments."

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24 January 2022, Mumbai: 

Dominor Investment Holding LLP led a $500,000 (Rs 3.5 crore) seed fundraising round for Zymrat, an innovation-driven performance apparel business.

Angel investors like Aditya Somani, Rashmi Daga, Mahesh Agrawal, Mridumesh Rai, Ankit Somani, and Sunil Goyal participated in the investment round, as did Anicut Angel Fund.

The cash will be used to expand the brand's category, accelerate product innovation, hire talent, and increase brand recognition through brand building.

"We are observing 5x higher demand for our goods in the sector we operate in," Ujjawal Asthana, co-founder and CEO of Zymrat, said in a statement about the fundraising.

Our largest product market validation has been a 40% repeat rate, indicating that we are on the correct track. This investment will enable us to create and produce high-performance, long-lasting, and one-of-a-kind goods employing new technology.``

"Providing clients with world-class sports apparel, based on cutting-edge fabric technology and inspirational designs, is the main driver of Zymrat," said Tushar Singh, managing partner of Dominor Investments Holding LLP. We at Dominar are very delighted to help Zymrat in closing a critical market gap in India, having led two rounds of fundraising at the firm."

Zymrat is an innovation-led performance wear company for men that offers a wide range of items such as training and running t-shirts, shorts, joggers, and outerwear. It was founded in 2018 by Ujjawal Asthana and Ankita.

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