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Impact of Xinjiang: Buyers are looking to India

26th August 2021, Mumbai:

The Okhla Garment & Textile Cluster (OGTC) held a virtual panel discussion on the impact of Xinjiang on the T&A sector recently.

Dr. A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC); Pallab Banerjee, Group President, Pearl Global; Dr. Ajay Sahai, Director General & CEO, FIEO; and PMS Uppal, MD, Pee Empro Exports & President, OGTC were among the panelists for the panel discussion, which was well moderated by Prashant Agarwal, JMD, Wazir Advisors. 

Industry insiders acknowledged that, as a result of the Xinjiang issue, customers are now looking to India, and that India, too, has the capacity, albeit labor and raw materials at the proper price remain major concerns. They also believed that the government should step in to limit the price of basic materials.

The cost of giving adequate training to an operator is approximately three times greater than the cost of equipment, according to the debate, and government policies on skill development need to be more flexible.

xinjiang textile industry | YnFx

 

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Impact of Xinjiang: Buyers are looking to India

'More Group' with an initial investment of Rs. 150 crores, enters the clothing retail market

26th August 2021, Mumbai:

More Group, an Rs. 1,000 crore conglomerate based in Kolkata, has entered the clothing retail market with the introduction of ‘SNV Shoppee' (Sanvie Shoppee), a well-organized value retail network of shops.

The Group is investing Rs. 150 crore in the initial phase of the new entity's debut, with plans to open 75 retail stores across the nation by the end of the year. For many years, the More Group has been involved in the production and export of clothing. Sanvie Retail, a newly created firm, will run SNV Shoppee.

In the presence of Anand Kumar More, Joint Chairman, and Varun More, MD, Sanvie Retail, Alok Kumar More, Chairman, presented the brand's logo and highlighted the Group's vision and future goals for the current fiscal year. “It was always my goal to see people wearing their favorite high-quality or so-called branded clothing at a reasonable price. For the mid-and low-income sector, I've always sought to bridge the gap between desire and capacity. As a result, we decided to enter the organized retail sector under the brand name SNV Shoppee in India's major cities. In a statement, Alok Kumar More stated, "We have a solid plan in place to further expand our presence across the country."

 

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SNV Shoppee's major goal is to close the economic gap by creating high-quality, inexpensive clothing for our target market. To ensure ultimate client pleasure and receive a good value for money, special focus has been placed on product quality. The new designs are in line with current fashion trends and customer expectations. “We are introducing SNV Shoppee in virtually all important areas of West Bengal, Odisha, Assam, Uttar Pradesh, Madhya Pradesh, Jharkhand, Bihar, Tripura, and New Delhi — mostly in Tier-2 and Tier-3 cities to appeal to the broader mass,” said Varun More. We also want to open 7 additional locations by the end of this fiscal year and 50 more stores by the next year, expanding our reach into new markets. In our institution, we want to develop a pool of work possibilities in a variety of industries.

Our current staff is 1,500 individuals, and we want to hire at least 400-500 additional workers in the next months. The whole money has come from the group's internal accruals.” In addition to clothes, the firm will provide a line of non-apparel items, such as stationery and home décor. More Group has three production facilities in West Bengal, each with in-house designers dedicated to creating stylish items.

Top Clothing Retailers in the World 2020, Clothing Retail Industry Analysis

 

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'More Group' with an initial investment of Rs. 150 crores, enters the clothing retail market

T-shirts continue to be the most popular imported clothing item among US consumers in H1 '21

23rd August 2021, Mumbai:

T-shirts have consistently been the most popular imported product by US customers, and this tendency has continued in H1 '21. According to OTEXA statistics collected by Apparel Resources, T-shirt imports by the United States increased by 37.97% Y-o-Y to the US $ 9.78 billion in the January-June 21 period.

T-shirt imports were 287.62 million dozen in volume, up 46.37 percent on a year-over-year basis during the period. 

In the first half of this year, all major Asian clothing exporters increased their T-shirt shipments to the United States, with Vietnam leading the list with a value of US $ 1.72 billion and a year-over-year increase of 21.82 percent. On the other hand, China's T-shirt exports to the United States were US $ 1.56 billion in H1 '21, a 43.59 percent increase over H1 '20. In the first half of this year, India, another big T-shirt manufacturing country, had a 35 percent year-over-year increase in T-shirt exports to the United States, totaling $494.44 million. In terms of volume, India's export was 14.62 million dozen, up 55.21 percent from the same time in 2020.

 

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Bangladesh increased its T-shirt shipment to the United States to 19.18 million dozen, resulting in a US $ 471.19 million export turnover, or a 62.85% increase in value on an annual basis. In H1 '21, India's unit pricing for exported T-shirts was the US $ 33.82 per dozen, while Bangladesh's unit costs were about US $ 24.56 per dozen.

When comparing India and Bangladesh in terms of T-shirt shipments to the United States, it's worth noting that, despite the fact that both countries compete head-to-head, India outperforms Bangladesh in terms of value-added T-shirt manufacturing for US buyers, while Bangladesh continues to be preferred for basic T-shirt commodities, according to data.

Why Outsourced Call Centers are Coming Back to the U.S

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T-shirts continue to be the most popular imported clothing item among US consumers in H1 '21

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