27 May 2022, Mumbai:

Gap Inc. Reports First Quarter Fiscal 2022 Results and Provides Updated Fiscal 2022 Outlook.

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 fiscal 2022 financial results for its first quarter ended April 30, 2022.

ALSO READ Gap Inc. Reports Q4 FY21 Results

“Our Q1 results and updated fiscal 2022 outlook primarily reflect industry-wide headwinds as well as challenges at Old Navy that are impacting our near-term performance. While we are disappointed to deliver results below expectations, we are con dent in our ability to navigate the headwinds and re-stabilize the Old Navy business in order to deliver continued progress on our long-term strategy,” said Sonia Syngal, CEO, Gap Inc. “We believe that we can navigate this period of acute disruption and build an even more resilient and agile company.

We remain anchored by our belief in our iconic purpose-led brands – Old Navy, Gap, Banana Republic, and Athleta – and are focused on making continued progress against our Power Plan strategy and getting back on track toward delivering growth, margin expansion, and value for our shareholders over the long term.”

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First Quarter Fiscal 2022 - Financial Results

Net sales of $3.5 billion, down 13% compared to last year.

First Quarter Fiscal 2022 – Balance Sheet and Cash Flow Highlights

Ended the quarter with cash and cash equivalents of $845 million. Net cash from operating activities was negative $362 million. Free cash flow,1 defined as net cash from operating activities less purchases of property and equipment, was negative $590 million.

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CREDITS: GAP Inc. (The news article has not been edited by DFU Publications staff)

21 May 2022, Mumbai:

Bangladesh focuses on building capacities to cater to buyers' demand for diversified products.

BGMEA President Faruque Hassan said Bangladesh would continue its efforts to remain to be a preferred choice of global apparel brands as a safe, ethical and sustainable sourcing destination.

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He made the remark during a meeting with Halide Alagöz, Executive Vice President, Chief Supply Chain and Sustainability Officer at Ralph Lauren Corp. in New York on September 29.

Alongside the strides in safety and sustainability, the industry is also increasingly focusing on diversifying its products and building capacities to cater to the demands of global brands and buyers, Faruque Hassan said.

Importance is being given to up-grading, particularly in the areas of skills and efficiency enhancement, technological upgrading, and diversification of products, especially non-cotton.

RELEVANT NEWS Indian Garment Import From Bangladesh: An Overview

The BGMEA President requested Ralph Lauren to support and collaborate with their suppliers in Bangladesh to build their capacities in manufacturing apparel products having higher market demand. Ralph Lauren is one of the world's largest fashion brands.

Brand BGMEA Acting President #Sayed #Nazrul Islam and Vice President Miran Ali hosted a dinner for Marielle Boström, Head of Regional Sourcing, South Asia, Aditi Bharadwaj, Regional Sourcing Lead, South Asia, Ralph Lauren, and #Bashir Un Nabi of Ralph Lauren Dhaka office.

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CREDITS: BGMEA Linkedin (The news article has not been edited by DFU Publications staff).

18 May 2022, Mumbai:

AUTUMN FAIR OVER 75% BOOKED WITH A HOST OF MUST-SEE BELLWETHER BRANDS CONFIRMED.

The countdown is on for the UK’s leading marketplace for wholesale Home, Gift, Fashion, and Sourcing, Autumn Fair which takes place on the 4-7th September at NEC Birmingham, with the show almost fully booked and a host of industry-leading bellwethers set to showcase their latest collections.

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Timed to get retailers ready for the Golden Quarter, retail’s busiest and most profitable time of year, the market’s most innovative and inspirational brands are returning to the September show including stylish and on-trend furniture, textiles, and decorative interior accessories.

Daniel Mayhew, Event Director, Autumn Fair says: “Off the back of two incredible Autumn and Spring Fair’s we head towards this September’s Autumn Fair in a very positive and buoyant mood. Our fantastic exhibitors and so many of the industry’s leading bellwethers continue to support the show and many use it as the only platform to showcase their new collections.

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Commenting on why Autumn Fair is so important Alex Kenyon, Padgett Brothers said; “The Autumn Fair has always been an integral and important part of the Padgett’s business. In the main, customers are looking to buy for ASAP delivery – We hold good stocks and we can deliver.

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26 May 2022, Mumbai:

A cut above the rest at Texprocess 2022 ACG Nyström, a member of TMAS, the Swedish textile machinery association, will demonstrate the benefits of the automated Talon 75 multi-ply cutter at the forthcoming Texprocess exhibition in Frankfurt, Germany, from June 21-24.

ALSO READ Innovations and Highlights@Texprocess 2022

This follows a new agreement with Eastman Machine Company, of Buffalo, New York, building on a partnership dating back over a century – combined, the two companies have installed over 3,000 automated cutting systems worldwide and distributed hundreds of thousands of manual cutting machines.

As a well-established full-service supplier of textile machinery and software, ACG Nyström, part of the ACG Group, will serve as a hub for imported Eastman equipment, parts, and consumables, enabling shorter lead times and direct delivery within the European Union.

RELEVANT NEWS Texprocess: 21 to 24 June 2022

Industry 4.0 ready

Eastman’s Talon multi-ply cutting systems are Industry 4.0 ready and equipped with the latest in condition based predictive maintenance technology.

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20 May 2022, Mumbai:

Revenue up 56% to Rs 50 billion

 Records highest quarterly revenue since inception in Q4 FY 2021/22

 India expansion complete, adds 20 tons a day

ALSO READ SriLanka: Jan'22 Apparel Exports set a 5 yr record

Teejay Lanka PLC has reported a revenue milestone of Rs 50 billion at the Group level for FY 2021-22, achieving its first annual sales of a quarter of a billion in US Dollar terms at the rates of exchange that prevailed during the year.

A strong fourth quarter during which revenue grew 38% to Rs 13.5 billion, the highest quarterly revenue since the Company’s inception, enabled Sri Lanka’s largest textile manufacturer to achieve 12-month sales growth of Rs 17.8 billion or 56% to end what was a challenging year for businesses in general, on a high note.

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The Group posted a profit before tax of Rs 2.887 billion and net profit of Rs 2.517 billion for the year ending 31 st March 2022, recording healthy growth of 11% and 18% respectively. Net profit for the fourth quarter was Rs 826.2 million, reflecting an improvement of 9%.

At the company level, Teejay Lanka increased revenue by 40% to Rs 29.4 billion for the year, and reported a pre-tax profit of Rs 2.6 billion and net profit of Rs 2.4 billion, achieving growth of 23% and 24% respectively.

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17 May 2022, Mumbai:

Want to learn the science behind processing wool?

The Woolmark Learning Centre’s Science and Technology Program provides a series of introductory and advanced courses within the fields of textile science and engineering.

ALSO READ Australian Wool Innovation: John Roberts new CEO

The range of coursework available in the program is designed for first or second-year tertiary levels through to those in their more senior years of study.

In this series of courses, areas of interest include wool fibre science, wool processing, worsted, and woolen spinning, dyeing, and finishing.

On completion of a course, you will receive a certified Credly digital badge to display your achievement online.

RELEVANT NEWS 2022 International Woolmark Prize theme ‘Play’ invites finalists to celebrate design and innovation

THE WOOLMARK LEARNING CENTRE

Australian Wool Innovation and its subsidiary The Woolmark Company, have been educating and supporting the global wool industry for more than 50 years.

As a not-for-profit organisation, our purpose is to equip the entire industry, from the Australian woolgrowers who produce wool, to the designers who create it, with the resources, information, and tools to succeed in the industry.

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CREDITS: Woolmark Linkedin (The news article has not been edited by DFU Publications staff).

25 May 2022, Mumbai:

MUNICH FABRIC START UNVEILS NEW PRIME MANUFACTURING SOLUTIONS AREA THE SOURCE

MUNICH FABRIC START extends its holistic portfolio with Prime Manufacturing Solutions.

ALSO READ PHYSICAL & SAFE: MUNICH FABRIC START & BLUEZONE ALMOST AT PRE-PANDEMIC LEVEL

Sustainability, transparency, digitalisation, nearshoring - the current topics of the industry need a holistic platform, a one-stop solution for fashion sourcing. MUNICH FABRIC START creates such a place for reliable and flexible sourcing solutions and a rethought value chain with THE SOURCE.

MUNICH FABRIC START once again underlines its market importance as one of the leading European meeting points for fashion designers, product managers, buyers and decision-makers: This season, besides the well-established areas Fabrics, Additionals, Design Studios, ReSource, Sustainable Innovations, Bluezone and Keyhouse, the high-quality portfolio gets a new destination for Prime Manufacturing Solutions.

RELEVANT NEWS PERFORMANCE DAYS MUNICH SCHEDULED TO TAKE PLACE ON December 1-2, 2021 IS CANCELLED!

The holistic ecosystem of MUNICH FABRIC START and BLUEZONE offers a platform for developments from DOB and HAKA to sportswear, from affordable luxury through contemporary to off-price as well as for targeted trend inspiration. The fully booked International Fabric Trade Show will welcome up to 20,000 fashion professionals from 30/08 - 01/09/2022 in Munich. Unveiling THE SOURCE, the one-stop solution for holistic fashion sourcing.

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19 May 2022, Mumbai:

vdma@ Techtextil sustainable technology for technical textiles.

VDMA Textile Machinery invites experts and stakeholders from the (technical) textile industry to register and attend our technology webtalks in the run-up to Techtextil 2022.

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VDMA Textile Machinery Webtalk with Oerlikon Textile GmbH & Co. KG about "Oerlikon Nonwoven: HydroCharging with hycuTEC".

Oerlikon Nonwoven introduces its new hycuTEC hydrocharging solution for filter media production. This new technology for charging #nonwovens enables the #filter efficiency to be increased to more than 99.99%. As a result, it offers #meltblown producers considerable material savings with simultaneously improved #filtration.

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The hycuTEC is the market’s first industrially-manufactured hydrocharging solution that can also be seamlessly integrated into the production process. And the innovative technology is also easily retrofitted to existing systems as a plug & produce component – a first within the market.

hycuTEC combines perfectly the highest performance with sustainability: minimum water consumption and minimum energy consumption at production and low energy consumption in the applications over the lifetime of the hycuTEC filter media.

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16 May 2022, Mumbai:

The 37th IAF World Fashion Convention will be held in Dhaka, Bangladesh in November 2022. IAF will host the Convention in collaboration with the Bangladesh Garment Manufacturers and Exporters Association (Brand BGMEA) and the Bangladesh Knitwear Manufacturers and Exporters Association (Bangladesh Knitwear Manufacturers & Exporters Association-BKMEA).

BGMEA President Faruque Hassan and IAF Secretary-General Matthijs Crietee made the announcement at a press conference in Dhaka on May 14.

ALSO READ BGMEA demonstrates impressive showing of Bangladesh RMG at '36th IAF Fashion Convention'

The leaders of BGMEA held a meeting with Matthijs Crietee, Secretary-General of the International Apparel Federation (IAF) in Brussels on February 23. BGMEA President Faruque Hassan along with Vice President Miran Ali, Directors Asif Ashraf, Tanvir Ahmed, and Abdullah Hil Rakib had a discussion with the IAF secretary-general about organizing the 37th edition of the World Fashion Convention in Dhaka. Bangladesh will host the 37th IAF World Fashion Convention in November 2022 on the 50th founding anniversary of the IAF.

Besides, the "Made in Bangladesh Week" will be held simultaneously in Dhaka from November 12 to November 18. The week-long event aims to showcase the capabilities and achievements of the RMG industry among participants arriving from different corners of the world and discuss the prospects and roadmap of the future.

RELEVANT NEWS Bangladesh likely to set an export target of $100 bn in the next 10 years

In the meeting, they expressed hope for a successful and meaningful IAF Convention in Dhaka where international industry stakeholders will gather with the aim to build a more sustainable apparel supply through collaboration and cooperation.

The IAF is the leading organization of world-renowned brands, manufacturers and associations having members from 40 countries and these include garment manufacturers and brands.

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CREDITS: IAF BGMEA The Daily Star (The news article has not been edited by DFU Publications staff).

24 May 2022, Mumbai:

Acquire competencies and expand offerings.

KM.ON acquires cloud technology from the company Digitale Strickmanufaktur as part of an asset deal KM.ON innovates and digitalizes the textile value chain with its offerings.

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The software company of the KARL MAYER Group is continuously developing new digital solutions to improve the customer experience, reduce complexity in our customers' day-to-day business, and ultimately make their business more profitable. Recently, the potential and capacities for this were significantly expanded.

On April 28, 2022, KM.ON acquired the cloud technology developed by Digitale Strickmanufaktur (Digital Knitting Factory), thus, expanding its portfolio of cloud solutions for textiles.

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In addition, the team of the Krefeld-based start-up was integrated into the KM.ON team. Together, they will continue to launch innovative textile solutions. " We are very pleased that our technology has been taken over by the KARL MAYER Group and can thus be made available to a very large customer base even faster in the future.

Our solution fits in very well with KM.ON's approach of offering new solutions on the market via the cloud," says Christian Zarbl from Digitale Strickmanufaktur.

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19 May 2022, Mumbai:

Nona Source launches first UK Showroom at The Mills Fabrica in Kings Cross, London 11th May 2022.

Established luxury fabric resale platform Nona Source, which re-values deadstock fabrics and leathers from LVMH Fashion & Leather Goods Maisons, launches its first UK showroom at The Mills Fabrica, London on 11th May 2022.

ALSO READ The Mills Fabrica Debuts New Visual Identity To Mark Global Expansion

Nona Source is a committed start-up serving the creative community and dedicated to a new form of fashion.

Designed for Creative Talents by materials’ sourcing experts Romain Brabo, Anne Prieur Du Perray, and Marie Falguera from LVMH, Nona Source offers professionals from the Fashion and Design industries the opportunity to purchase exclusive materials originating from LVMH Maisons at a competitive price of up to 70% off the original wholesale price.

Nona Source will be bringing its ethos from Paris to London, by opening its UK showroom at The Mills Fabrica in Kings Cross, London on 11th May 2022.

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From this date, the professional creatives will be able to book a private appointment with a Nona Source expert from Monday to Friday directly via the Nona Source website. Nona Source is a concrete solution addressing the challenges and opportunities of circularity, a key pillar of LVMH's environmental strategy as expressed in the Group's LIFE 360 program (LIFE: LVMH Initiatives For The Environment).

The opening of the London location on the 11th of May will open the opportunity to other fashion and design creatives in the UK, allowing them to weave sustainable and circular fashion ethics into their collections by using high-quality deadstock materials. Romain Brabo, Co-Founder of Nona Source, comments: “I am so glad that for our first anniversary we are opening a London showroom in one of the most creative places in the world.

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16 May 2022, Mumbai:

Bangladesh can target $ 100b RMG exports in 10 years: Buyers Bangladesh would be able to set an export target of $ 100 billion in the next 10 years, riding on the country's improvement of the apparel production facility and compliance over the past few years, international clothing retailers and brands have said.

ALSO READ Indian Garment Import From Bangladesh: An Overview

The buyers are also happy that Bangladesh will remain the favorable sourcing destination for apparel items as the sector's people are able to produce almost all items as per buyers' requirements.

RELEVANT NEWS Consumers look to buy cheap garments from Bangladesh

The observations came during talks with journalists on the sideline of the Sustainable Apparel Forum 2022 that kicked off in the capital on Tuesday.

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CREDITS: BGMEA (The news article has not been edited by DFU Publications staff).