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Bangladesh: IMF x BGMEA Discuss RMG Sector Challenges & Opportunities Post-LDC Graduation

21 October 2023, Mumbai

The International Monetary Fund (IMF) and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) met on October 15 to discuss the challenges and opportunities for the RMG sector in the context of Bangladesh's graduation from Least Developed Country (LDC) status.

Outlines
The meeting focused on the current state of the RMG industry, the global trade landscape, and their implications for Bangladesh's export performance.
BGMEA President Faruque Hassan also shared the Sustainability Strategic Vision 2030 with the IMF team, which outlines their goals and plans for the future of the RMG sector in Bangladesh.
The IMF team praised BGMEA's initiatives and efforts and expressed their willingness to keep in touch with them.

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Bespoke garments cut into fast fashion segments as its popularity grows

19 October 2023, Mumbai

While cheap and cheerful fast fashion clothes are currently rocking the ready-to-wear garment industry, those who want to create their own sense of style are still going to their tailor for customized fits and a personal touch.

Bespoke or customized clothes stitched to an individual buyer's specifications by a tailor have always been popular in India until the international and domestic fashion brands with their ready-to-wear item took over the bespoke category.

Bespoke styling has had a long history in India because tailoring was cheap compared to Western countries and these garments become timeless legacies with a USP of individuality and craftsmanship.

Personalized styles fuel growth
A recent report by Business Research Insight estimates, the global customized bespoke market at $59.890 billion in 2021 and is expected to rise to 131,601 billion by 2030 at a CAGR of 10.9 percent during the forecast period.

Growth will be fueled by customer fashion preferences becoming personalized and rising disposable income among the urban youth that allows deeper pockets for specially-made clothes like custom-printed T-shirts.

Growing trend; These T-shirts with prominent logos and slogans for spreading social awareness, backing a cause, or just being themselves with their own USP are becoming the hot-selling items in the casual category.

Sports teams and clubs who design their own emblems and then aggressively market them are one of the biggest segments of the personalized custom-made garment segment raking in the profits.

Suits and wedding attire do well in the tailored segment
This tailored segment can be segmented into type and application, depending on who wears it where and why.

In the type segment, coats, skirts, dresses, trousers shirts sell well, although the women’s and men’s coat segment had the biggest market share till 2028. In terms of application, the market is divided into online and offline, and in post-pandemic days, it is the online segment that is ruling the roost.
Men's wardrobes of suits, pants, shirts, and Indian outfits have always been popular, and bespoke suits are always the hot-seller in this segment.

Buzz

Traditionally crafted by a master tailor based on specific patterns and exact specifications of the wearer, these customized suits can never compare with the ready-to-wear collections.

Likewise in the women’s segment, traditional wedding, and festive clothing as well as Indo-western clothing with a rekindled appreciation for indigenous crafts and textiles are currently trending along with global western-like dresses, blouses, and skirts.

Celebrity endorsements as well as social influencers are also helping this category in the online segment in a way that was unheard of even a decade ago.

Luxury brands big on customization
Men’s formal clothes brands in India such as Raymond, Peter England, Arrow, Blackberry, and Park Avenue among others are now reputable names for both their ready-to-wear as well as bespoke suits and jackets with their immaculate history. Traditional bespoke clothing makers from London’s Saville Row such as Anderson & Sheppard, Dege and Skinner, Davies & Son, and Cad & The Dandy have created a unique road synonymous with a specific form of men’s wear clothing and attract a high-profile clientele of global politicians, celebrities, and royalty.

Most suit makers feel bespoke clothing can cater to any figure and having things made by hand in an artisanal way is an ultimate work of art that AI can never hope to replicate as it is all about personal interaction with the customer of measuring and fitting.

Connecting with the true process of craftsmanship is an expensive proposition in today’s world of fast fashion, but bespoke clothing is here to stay for all those who want to make a fashion statement with their own USP.

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GARTEX texprocess INDIA to Showcase Latest Innovations in Garment & Textile Manufacturing

10 October 2023, Mumbai

GARTEX texprocess INDIA, India's leading garment and textile manufacturing industry tradeshow, returns on February 1-3, 2024 at the Jio World Convention Centre in Mumbai.

The show will showcase the latest innovations and trends in the industry, and provide a platform for professionals to connect and network.

Outlines

Visitors can expect to see a wide range of products and services on display.

The show will also feature a number of special events, such as seminars, workshops, and demonstrations. This will provide attendees with the opportunity to learn about the latest industry trends and developments, and to network with potential partners and customers.

GARTEX texprocess INDIA is a must-attend event for anyone involved in the garment and textile manufacturing industry. It is an opportunity to see the latest innovations, learn from industry experts, and network with potential partners and customers.

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50th India International Knit Fair (IIKF) to Showcase the Latest Knitwear Trends in Tirupur

04 October 2023, Mumbai

The 50th India International Knit Fair (IIKF) will be held in Tirupur, the Knitwear Capital of India, from October 12th to 14th, 2023. This prestigious event will showcase the latest and finest knitwear collections for men, women, and children.

The 50th IIKF will be held at the spacious and fully air-conditioned IKFA Complex in Tirupur, India.

It is an excellent opportunity to network, explore business opportunities, and collaborate with leading designers, manufacturers, buyers, and celebrities from the fashion industry.

Remarkable

This spectacular event will present a new range of high-fashion knitwear designs with a creative flair.

The 50th edition of IIKF will inspire you with new fashion trends and ideas that will elevate your style quotient. This all-season fair is a must-visit for anyone who loves fashion and wants to witness the best of the knitwear world.

Key highlights of the 50th IIKF:

Showcase of the latest and finest knitwear collections for men, women, and children

Networking opportunities with leading designers, manufacturers, buyers, and celebrities from the fashion industry

A platform to explore business opportunities and collaborate with industry leaders

A showcase of innovative knitwear designs with a creative flair

A chance to witness the best of the knitwear world

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CMAI's 'Achievers Club' empowers D2C brands to redefine success

In a remarkable testament to the entrepreneurial dynamism sweeping through India, Direct-to-Consumer (D2C) brands are reshaping the business landscape. The recent 'Achievers Club' initiative, led by CMAI, a consortium of like-minded apparel brand owners and manufacturers, showcased the transformative power of these upstarts. The discussion, moderated by Rahul Mehta, Chief Mentor at CMAI, featured insights from Anurag Singh of Aachho, Siddharth Dungarwal of Snitch, and Mahesh Tekwani of SAADAA.
The dynamic entrepreneurs in this discussion unveiled a roadmap for success in the fast-evolving business ecosystem:
Starting over perfection: They emphasized that beginning, even with imperfect plans, is essential, as action trumps flawless blueprints.
Consistency and trust: Consistent efforts build brand trust and customer comfort, ensuring long-term success.
Simplicity and focus: Prioritizing simplicity and focus while avoiding distractions and overthinking facilitates adaptable growth and market relevance.
Innovation and adaptation: Embracing innovation and adapting to market shifts enhance competitiveness and sustainability.
Inventory management: Effective inventory management, vital in the apparel industry, can be optimized by promoting slow-moving inventory and leveraging technology for data-driven decisions.
Data-driven decisions: Trusting data over instincts is pivotal, enabling informed decisions in inventory and overall business management.
These principles form the core of the D2C success story. The 'Achievers Club' seeks to unite apparel brands, fostering knowledge exchange and growth within the industry.
Additional insights:
The discussion further revealed that small brands can thrive by focusing on customer-centric strategies, optimizing supply chains, and prioritizing the customer experience. Data analysis and proactive measures were touted as critical for managing product quality and returns effectively.
Social media emerged as an indispensable tool for brand engagement, with influencer marketing amplifying reach. While discounts can be part of a brand's strategy, creating value-oriented content and focusing on long-term brand value and loyalty were underscored as more sustainable approaches.
The debate over the D2C model's superiority hinged on individual visions and commitment. Hero products, marketplace strategies, and the significance of a brand name were also discussed. Entrepreneurs were encouraged to gradually establish their online presence and understand that branding goes beyond labels; it encompasses a narrative and customer experience.
In a rapidly changing business landscape, D2C brands in India are carving a path to success through innovation, customer-centricity, and adaptability.

CMAI's 'Achievers Club' empowers D2C brands to redefine success

Les Petits launches Festive Collection for kids

09 October 2023, Mumbai

Les Petits, the luxury fashion brand for kids, has launched an exclusive range of festive collections from its in-house brand Rang.

Opulent Designs and Comfortable Fabrics

The collection features opulent designs and comfortable fabrics in a variety of pastel hues and timeless prints. There is a wide range of options to choose from, including lehenga, sharara, and kurta sets.

A Wide Range of Options to Choose From

The collection is consciously curated to create a mesmerizing look for kids and help them dazzle in the realm of elegance. The brand pays a lot of attention to the comfort of kids and uses breathable fabrics made of lightweight and soft materials.

The collection is perfect for the festive season.

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Mega Textile Show 2024: To Showcase Indian Textile Sector's Global Potential

04 October 2023, Mumbai

The Indian textile sector is gearing up to host its largest and most significant event, the Mega Textile Show 2024, which is scheduled to take place in late February or early March of the upcoming year. The precise date and venue details will be announced shortly.

Largest and Most Significant Textile Event in India

This grand event will encompass the entire textile industry spectrum, spanning from raw materials to finished products, and is set to draw experts, producers, vendors, designers, buyers, and enthusiasts from around the world.

Focus on Latest Developments, Innovations, and Trends

The exhibition will showcase a diverse array of textile segments, including apparel, home textiles, floor coverings, fibers, yarns, wool, threads, fabrics, carpets, silk, handicrafts, handloom, synthetic materials, rayon, cotton textiles, jute, woolen garments, and technical textiles.

The Mega Textile Show 2024 aims to spotlight the global potential of the Indian textile sector, featuring the latest developments, innovations, and trends in the textile and fashion industries, while also fostering networking opportunities and facilitating business partnerships.

Networking Opportunities and Business Collaborations

Furthermore, the event will extend invitations to institutions, academia, and various stakeholders connected to the textile sector.

Expect to see a vibrant mix of exhibitors hailing from India and abroad, all converging at the Mega Textile Show 2024. This event, designed as a B2B platform, will be open to both domestic and international markets.

Open to Domestic and International Markets

The Mega Textile Show 2024 is an indispensable occasion for anyone involved in the textile industry.

It offers a unique chance to connect with industry leaders, stay abreast of the latest trends and innovations, and explore new avenues for business growth and collaboration.

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Groz-Beckert Opens New Sales Office in Surat, India

17 October 2023, Mumbai

To Better Support Customers
In order to be even closer to the customer, Groz-Beckert opened a new sales office in Surat, Gujarat, India. The inauguration of the new sales office took place on Sunday, October 15, 2023, with an official opening ceremony.
Strategic Location
Surat is a significant textile production and trade hub in India, known as the “Textile and Silk City.” It is an important hub for large-scale production of synthetic textiles and skilled workforce. The textile Industry in Surat produces est. 25 Million meters of fabrics per day.
Expanding Reach
With the new office, Groz-Beckert aims to provide even better support for its customers from the knitting industry – especially from the circular knitting and warp knitting industry – as well as from the sewing industry in the growing market in Surat and the surrounding area.

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Maxzone Clothing shatters records to become India's top T-shirt brand

06 October 2023, Mumbai

Maxzone Clothing, the popular men's fashion brand, has achieved a remarkable milestone by selling over 1 crore T-shirts in the past year.

This accomplishment follows their impressive feat of achieving a turnover of around 200 crore earlier in 2023. This surge in sales reflects Maxzone Clothing's significant growth in the market, positioning them for an all-time high turnover in the near future.

Brand Personality

The brand attributes its success to a commitment to quality, affordability, and a deep understanding of diverse customer preferences.

Maxzone Clothing caters to men across various regions, offering a wide range of fits, sizes, cuts, colors, and fabrics, shattering the one-size-fits-all approach. This strategic approach has propelled them to sell over 10 million T-shirts.

Made in India

Maxzone Clothing proudly carries the 'Made in India' tag and offers T-shirts starting at just Rs399, making high-quality fashion accessible to a wide range of consumers. This affordability has not only revolutionized wardrobes across India but has also supported the domestic manufacturing sector, creating job opportunities.

Since its inception in 2009, Maxzone Clothing has continuously evolved, expanding its market reach and embracing innovation.

Tech inclusiveness

They have incorporated advanced technologies, like Bio Wash Fabric and SULPHET automatic printing machines, to elevate product quality and efficiency. Sub-brands like PlusPoint and Menology Clothing have further contributed to their success.

Maxzone Clothing's commitment to customer satisfaction, coupled with exciting global expansion plans in Dubai, solidifies its position as a top-notch, budget-friendly apparel brand while promoting Indian craftsmanship.

The brand remains dedicated to growth and innovation in the years ahead.

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AEPC EXCELLENCE HONOURS 2021-22-23: Celebrating the journey to ‘40 by 30’

The Indian apparel export industry’s most coveted awards event, the AEPC EXCELLENCE HONOURS, is back with its 2021-22-23 edition.

The event will showcase and honour the best of the best in product innovation, design, production, and promotion in the apparel export sector.

Nuances

The event will take place on December 8, 2023 at the Hotel Taj Mansingh in New Delhi, where over 500 guests, including industry stalwarts, government dignitaries, and media personalities, will witness the presentation of awards in various categories, such as: Exporter of the Year New Exporter of the Year Product Development Excellence Award Design Innovation Award Manufacturing Excellence Award Marketing Achievement Award CSR Leadership Award.

Highlights

The event will also highlight the industry’s vision of achieving apparel exports of USD 40 billion by 2030, under the theme of “40 by 30.”

The AEPC EXCELLENCE HONOURS event is a tribute to the Indian apparel export industry’s resilience and excellence, celebrating its past achievements and future aspirations.

AEPC EXCELLENCE HONOURS 2021-22-23: Celebrating the journey to ‘40 by 30’

Boom time for Soch Apparel as it eyes becoming Rs 1000 crore brand

Bengaluru-based premium ethnic brand Soch is riding a success story as it closed last fiscal with topline revenue of Rs 401 crore, which marked a 60 per cent growth over previous year. Despite the ethnic sector facing multiple challenges, Soch Apparel surged ahead with a 9 per cent Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA). Supporting the strong performance, CEO and Co-Founder Vinay Chatlani says, post-Covid consumer rebound and a robust festive period were the main drivers of their success and it helped the brand expand brick and mortar presence across the country.

The success of the expansion strategy has made Chatlani plan on expanding further in multi-brand outlets and establishing presence in large format stores next year. Online presence would continue playing a vital part and given the required support, according to Chatlani. As the brand pushes forward to join the Rs 1,000 crore brands club, the journey could possibly take the next three to four years.

Channels that made last fiscal stellar 

While the direct-to-consumer channel clocked in a quarter of the overall online sales, Soch Apparel plans to make their website work harder and contribute to more than half of all online sales within the next three to four years as a part of its strategy to reach the Rs 1,000 crore mark. The brand is also relying on Indian diaspora outreach through international e-commerce to generate more online sales. Its overall online business contributed 11 per cent to its revenues and the plan is to increase it 14 to 15 per cent next year. Interestingly, omni-channel accounts for 40 per cent of the brand's e-commerce sales which means 40 per cent of online orders are fulfilled by the stores.

Soch Apparel is being sold offline across 40 large format stores and through 165 exclusive brand outlets (EBOs) across India. The expansion plan for the next fiscal is to increase its presence in an additional 45 large format stores and 25 more EBOs. According to Chatlani, the 25 EBOs would be a mix of company owned outlets and franchised ones. At present, Soch Apparel owns 55 per cent of the 165 EBOs and 45 per cent have been franchised.

Clearly, as a premium brand of ethnic wear, Soch Apparel has seen 66 per cent of its revenues being generated from metros and the remaining 34 per cent from Tier I and II towns. Almost 68 per cent of its stores are in metros and Tier I cities and the remaining 32 per cent are in Tier II and III towns. Chatlani states, being a Bengaluru-based brand, half its total revenues are from South India, with eastern India contributing 20 per cent and western and North India 15 per cent each.

Moving forward

In its expansion plan, with the next year and a half, the company would like to reach more Tier II and III towns and convert the franchised store to company-owned in the ratio 7:3. In the current scenario, its presence through EBOs is evenly split between high streets and malls, it sees high streets as the focal retail presence in coming years. Next year, Soch will launch its 5,000 sq. ft. store at an undisclosed location in a southern metro whereas presently its EBOs are not over 1,600 sq. ft. Expansion across North India will also be a priority.

Exclusively ethnic and premium, Soch Apparel has pinned its hopes on a growing consumer base who are happy to spend on such clothing beyond festive occasions.

Boom time for Soch Apparel as it eyes becoming Rs 1000 crore brand

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