01 September 2022, Mumbai

GOME Retail In 1H 2022 consolidated gross profit margin significantly increased to 19.8%, Cash flows from operating activities improved significantly and positively.

Focused on the core business and creating a new profit model Technology-empowered business transformation.

GOME Retail Holdings Limited (HKEX Code: 493. HK, "GOME" or "the Company", and together with its subsidiaries, "the Group")announced its unaudited interim results during the six months ended 30 June 2022 (the "Reporting Period").

 In 1H of 2022, the sales revenue of the Group was approximately RMB12,109 million, and the consolidated gross profit margin was approximately 19.81%, increasing substantially by 5.56 percentage points as compared to the corresponding period last year.

The Group's operating expenses were approximately RMB4,839 million, which decreased by 3.10% as compared to the corresponding period last year.

The Group's loss attributable to the owners of the parent was approximately RMB2,966 million.

During the Reporting Period, the Group's cash flows generated from operating activities had significant improvement over the corresponding period last year, achieving a positive net inflow of RMB55 million.

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23 August 2022, Mumbai

THE PRIMARY EXHIBITION FOR YARNS & KNITWEAR.

39th session SHANGHAI special session → SPINEXPO HANGZHOU will take place 28-29-30 August 2022 Autumn Winter 2023-24.

The leading international industry sourcing exhibition dedicated to innovation in yarns, fibres and knitwear.

Venue: Hangzhou International Expo Center.

CREDITS: SPINEXPO HANGZHOU Website

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07 August 2022, Mumbai:

MAS increases its investment in the supply chain and re-affirms confidence in Sri Lanka.

MAS Holdings launched a new venture by acquiring the assets of BAM Knitting (Pvt) Ltd., a leading fabric manufacturing and finishing operation in Sri Lanka. MAS Holdings takes the majority stake in the new venture, with BAM Knitting as its joint venture partner. This investment further enhances Mas holdings ltd’ capabilities in the knitting, dyeing, and printing space for cotton fabrics and expands its backward vertical integration on the island..

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The new joint venture will benefit from the technical resources and expertise of MAS, following the appointment of MAS specialists to key roles in the company, as well as MAS’ vast global experience in apparel and textile manufacturing.

Significant synergies are expected from the acquisition, including production capacity enhancements and collaborations on new product developments. “This acquisition is timely, both from the perspective of MAS and the Sri Lankan economy,” said Suren Fernando, CEO of MAS Holdings.

“It enables MAS to increase the verticality of our Sri Lankan operations and mitigates the increasing volatility of global supply chains and costs of logistics while increasing the overall value added by MAS. It also highlights our continued confidence in Sri Lanka as a sustainable and competitive destination for apparel manufacturing, despite the ongoing economic challenges.”.

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31 August 2022, Mumbai

RX Japan was established in 1986.

Its management philosophy is "to contribute to the development of various industries and the revitalization of the Japanese economy by creating exhibitions where exhibitors and visitors can engage in serious business discussions", and we have been making every effort to achieve this goal. Make Japan the business hub for the industry by organizing exhibitions.

RX Japan Ltd. is a part of RX, a global enterprise based in 22 countries/regions around the world.

Japan has eased border restrictions, and business travellers from most countries can enter Japan with NO on-arrival COVID-19 test and NO quarantine.

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11 August 2022, Mumbai:

Burberry receives SBTi approval for the net-zero emissions target.

Burberry is the first luxury fashion brand and one of the first companies globally to receive approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target.

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This validation confirms that the goals Burberry has set to reach net-zero emissions by 2040 are based on the latest climate science and meet the urgent need to keep warming to 1.5°C in line with the Paris Agreement. Burberry’s net-zero target is underpinned by a series of commitments across scope 1, 2, and 3 emissions.

In the near term, we commit to reducing absolute scope 1 and 2 greenhouse gas (GHG) emissions 95% by 2023 from a 2017 base year and reduce absolute scope 3 GHG emissions by 46.2% by 2030 from a 2019 base year.

In the long term, we commit to maintaining at least 95% absolute scope 1 and 2 GHG reductions from 2023 through 2040 against an FY2017 base year, while reducing absolute scope 3 GHG emissions by 90% by 2040 from a 2019 base year.

Scopes 1 and 2 cover emissions generated from Burberry’s own operations.

Caroline Laurie, VP of Corporate Responsibility, Burberry: “The Science Based Targets initiative (SBTi targets) plays a critical role in ensuring ambitions set by businesses are in line with the latest climate science and will contribute to tackling the climate emergency.

Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative (SBTi companies): “Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change.

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06 August 2022, Mumbai:

EU-India Free Trade negotiations: an opportunity to rebalance trade relations and promote a global sustainable textile industry.

Today’s trade relations between the EU and India in textiles and apparel/clothing are characterised by a large and systemic trade deficit for the EU; annual imports from India exceed €6 bln (2021) – making it the 4^th supplier – while EU exports to India reached just half a billion – the 20^th place in our export markets.

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Today’s trade relations between the EU and India in textiles and clothing are characterised by a large and systemic trade deficit for the EU; annual imports from India exceed €6 bln (2021) – making it the 4th supplier – while EU exports to India reached just half a billion – the 20th place in our export markets.

Against this background, the free trade negotiations are an opportunity to rebalance that relationship; European textile and clothing companies can offer high-quality and innovative products for the Indian market.

EURATEX, as the voice of textiles and apparel manufacturers in Europe, supports an ambitious EU trade agenda. In this context, EURATEX highlights that the sector needs open and efficient markets.

India today benefits from reduced customs duties due to GSP. For European companies instead, market access to India is challenging.

Director General Dirk Vantyghem commented: “We look to these negotiations with great interest. The FTA is an opportunity to develop a shared ambition between the European and Indian industry to make sustainable textiles the norm, and to create a regulatory framework where our companies can compete in a free and fair environment.”

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26 August 2022, Mumbai

Gap Inc. (NYSE: GPS), a portfolio of purpose-led, billion-dollar lifestyle brands including Old Navy, Gap, Banana Republic, and Athleta, and the largest specialty apparel company in the U.S., today reported financial results for its second quarter ended July 30, 2022.

“This is a pivotal moment in time. While we search for a new leader, I am taking on the role of Interim President & CEO of Gap Inc. with a deep commitment to the company’s success and impatience for change.

Having navigated the global retail industry across brands and markets, I am not approaching this work from the sidelines,” said Bob Martin, Executive Chairman and Interim CEO, Gap Inc. “We are taking actions to better optimize profitability and cash ow in the near term, reducing operating costs as well as impairing unproductive inventory.

Mr. Martin continued, “Gap Inc.’s iconic brands, powerful assets, well-established values, and scaled Omni-platform are central to our strategic direction.

Net sales of $3.86 billion, down 8% compared to last year.

Comparable sales were down 10% year-over-year.

Online sales declined 6% compared to last year and represented 34% of total net sales.

Store sales declined 10% compared to last year.

The fiscal Year 2022 Outlook

“We have four strong brands and leverage in the portfolio to deliver over the long-term, however, our recent 3 execution challenges combined with the uncertain macro trends requires us to manage the levers in our control and take the actions necessary to drive improvement across our entire business,” said Katrina O’Connell, Executive Vice President and Chief Financial Officer, Gap Inc.

“In the near-term, we are taking actions to sequentially reduce inventory, rebalance our assortments to better meet changing consumer needs, aggressively manage and reevaluate investments, and fortifying our balance sheet.

While we have work to do, we believe these are the right initial steps to position Gap Inc. back on its path toward growth, margin expansion, and delivering value for our shareholders over the long term.”.

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09 August 2022, Mumbai:

Gucci has become the first major brand to start accepting payments in the form of the Bored Ape Yacht Club-affiliated ApeCoin (APE).

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The move towards crypto by the Gucci brand comes notwithstanding the cryptocurrency industry is living up to its legendary volatility.

As of now, Gucci will accept ApeCoin in US stores and plans to expand that reach across the rest of its North American presence. Apecoin's price has soared from nearly $6 on August 2 to $7.4 on August 9.

(ET report)...The news article has not been edited by DFU Publications staff.

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03 August 2022, Mumbai:

Lenzing reports significant revenue growth and solid earnings for the first half-year.

The Lenzing Group’s revenue grew by 25.2 percent year-on-year to reach EUR 1.29 bn in the first half of 2022, primarily due to higher fiber prices. The earnings trend mainly reflects the cost trend in global energy and raw material markets, which affected the whole manufacturing industry.

Energy, raw materials and logistics costs rose sharply once again in the reporting period after cost pressure had already risen steadily throughout the 2021 financial year.

As a consequence, earnings before interest, tax, depreciation, and amortization (EBITDA) decreased by 13.3 percent year-on-year to EUR 188.9 mn.

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Revenue up by more than 25 percent, earnings impacted by a sharp rise in energy, raw material, and logistics costs

·       Key projects in Thailand and Brazil successfully commissioned

·       Further development of the corporate strategy with a focus on profitable growth and accelerated transformation to a circular economy model

·       Lenzing continues to advance purposefully toward Group-wide climate neutrality

·       Earnings guidance for 2022 confirmed: EBITDA expected significantly above the 2021 level.

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24 August 2022, Mumbai

Burberry reveals its Autumn/Winter 2022 campaign, capturing the power of community as models come together in their individuality. Spotlighting the collection’s themes of belonging under the bright LA sun, the bold images and film harness the power of self-expression to forge togetherness.

Building upon the house’s code of duality, the campaign is a study of different identities. Elevated studio shots for the womenswear collection and candid outdoors shots for the menswear collection come together to present daring recombination of distinct Burberry codes and a fresh proposition for the future.

Burberry’s Chief Creative Officer Riccardo Tisci reconnects with the photography duo and friends of the brand Inez and Vinoodh to further explore his avant-garde approach to the house, whilst stylist Lotta Volkova brings definition and a new perspective to the attitudes expressed throughout the collections.

Across womenswear, waxed cotton coats and field jackets are presented alongside vintage-inspired floral lace corset tops in candy pink and red with matching pleated skirts, black leather bodysuits, and skirts.

The Lola bag also features in the campaign, celebrating the heritage of the brand and its founder, Thomas Burberry.

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08 August 2022, Mumbai:

Tuesday – 16th August
9 am São Paulo, 12 am GMT , 8 pm Beijing

Abrapa (the Brazilian Cotton Growers Association), together with ApexBrazil (the Brazilian Trade and Investment Promotion Agency) and Anea (the Brazilian Cotton Shippers Association) invite you to the "Cotton Brazil - 13th Brazilian Cotton Conference" online event.

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Challenges and Perspectives for the Brazilian Cotton on Global Scenario: Analyzing the global market and relations to Cotton Brazil.

The conference will discuss the challenges and perspectives for Brazilian cotton in the current global scenario, bringing valuable insights and implications to your market.

The brazil cotton association event outlining Brazilian cotton quality will be held in English and offered to international guests only.

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02 August 2022, Mumbai:

THE SOURCE, the new one-stop solution for integrated fashion sourcing by Munich Fabric Start Exhibitions GmbH, is fully booked.

In the listed Lokhalle, which with its gigantic dimensions is one of the largest cantilevered historic steel halls in Europe, THE SOURCE offers flexible sourcing services and solutions for newly conceived value chains on around 2,500 m2 in direct connection to MUNICH FABRIC START and BLUEZONE.

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"To expand as a trade fair during the Corona crisis and in challenging times for the fashion industry is anything but a matter of course and was definitely a gamble. We are all the more pleased that we know even before the fair: It was right and important", says Sebastian Klinder, Managing Director of Munich Fabric Start Exhibitions GmbH.

65 selected international manufacturing companies will present their offerings from cut-make-trim (CMT) to high-end production at the new fair from 30 August to 1 September 2022.

A cluster of key sourcing countries such as Portugal, Turkey, Morocco, Tunisia, Bosnia, and Vietnam will create a business-relevant mix for risk diversification, the right product mix, and for every genre.

"End-to-end solutions from PLV to white label for brands, labels, and retailers are a strongly growing segment, which we offer with THE SOURCE an extremely high-quality environment in the long term and in close partnership with our exhibitors. We value a segment that is treated rather uncharitably in many places.

THE SOURCE will take place parallel to the MUNICH FABRIC START (30/08 – 01/09/2022) and BLUEZONE (30/08 – 31/08/2022) fairs, which will continue the pre-pandemic success story with a total of almost 900 exhibitors.

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