16 November 2023, Mumbai

K.V. Srinivasan from India became the new President of the International Textile Manufacturers Federation (ITMF) at the Annual Conference in Keqiao, China.

Outlines

He will lead the Federation for the next two years, succeeding Ruizhe Sun from China, who was honored as a Life Member. he Committee of Management also elected Juan Parès from Spain, Mustafa Denizer from Türkiye, and Ernesto Maurer from Switzerland as Vice President, Vice President, and Honorary Treasurer, respectively.

The Non-executive board welcomed new members from Singapore, Pakistan, Brazil, and Hong Kong, China, along with some re-elected ones from Thailand, Bangladesh, and other countries. The ITMF aims to foster a vibrant and diverse global textile industry with its new leadership team.

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08 November 2023, Mumbai

RMG exports from Bangladesh declined by 13.93% in October 2023, from 3.68 billion dollars in October 2022 to 3.17 billion dollars in October 2023. This represents a decline of 513 million dollars, or around 5,643 crore taka.
For the period of July–October 2023, RMG exports from Bangladesh reached US$ 14.78 billion, up from US$ 13.95 billion in July–October of FY 2022–2023, indicating 5.59% year-over-year growth. However, the overall export earnings for July–October 2023 grew by only 3.52%, falling 9.31% short of the strategic export target for the same period.
Factors impacting
The decline in RMG exports in October is attributed to a number of factors, including the labor unrest in the final week of October, which allegedly sparked around the minimum wage issues, and the depressed sales and demand in the global market caused by historic high inflation followed by the Russia-Ukraine war.
Inflationary pressures
The RMG industry in Bangladesh is also feeling the heat of global inflation, as the cost of all inputs, including fuel, gas, electricity, and transportation, has increased significantly. Additionally, the Bangladesh Bank has increased interest rates since the first of July this year, making trade and investment finance more costly.
Policy intervention
The Government of Bangladesh has also declared new minimum wages for garment workers, increasing the gross wage of 7th grade workers by 56.25% and the basic wage by 63.41%. This growth in wages will escalate the cost of goods further.

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08 November 2023, Mumbai

Texworld and Apparel Sourcing Paris have seen an overwhelming response from exhibitors, with 75% of exhibition space booked by September. This reflects the event's global reach and the Asian textile industry's eagerness to forge stronger connections with European markets.
Global Textile Presence
Major national pavilions will showcase leading fashion sourcing nations, including China, India, Türkiye, Korea, Indonesia, Pakistan, and Thailand. Apparel Sourcing Paris will feature an increasing number of Hong Kong manufacturers.
Diverse Textile Offerings
Texworld Paris anticipates over 700 exhibitors across 13 sectors, with a notable rise in knitwear and activewear performance textiles.
Enhanced Navigation
A new hall layout consolidates both fairs on two levels in Hall 7 (7.2 and 7.3) at Paris Expo Porte de Versailles, making it easier for visitors to find the specific expertise and products they seek.
Sustainability at the Forefront
Sustainable Development remains a key priority, with the Econogy concept guiding visitors towards sustainable solutions

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13 November 2023, Mumbai

The World’s Fashion Leader According to a recent study by ThreadSpy, an online retailer of high-end menswear, Nike is the most valuable fashion brand in the world.

Foundational

The study used Google search volume and social media metrics to calculate the market value of various brands. Nike scored 9.87 out of 10 and had a market value of £30.5 billion, making it the clear winner. Some Highlights Nike is the undisputed champion of the fashion industry, with a huge lead over other brands.

Zara is the runner-up, followed by Louis Vuitton in third place. The top 10 list also features Prada, Adidas, Burberry, and more. The study shows the diversity and dynamism of the fashion industry, with brands from different segments competing for the top spots..

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Tukatech, a leader in 3D fashion technology, has joined forces with EcoShot by Metail, a company that creates realistic digital models.
The partnership will allow Tukatech’s customers to display their 3D virtual garments on digital models that look like real people, without making any physical samples.
What it offers
TUKA3D users can now access over 40 realistic digital models, thanks to the integration with EcoShot.
These models include different genders, ages, measurements, and poses. Some of them are real-life models, and some of them are generated by AI. TUKA3D users can also use AI to create custom models from their TUKA3D fit models.
The integration between TUKA3D and EcoShot is a big step for the apparel industry, as it can change the way products are developed. By avoiding physical samples, companies can save time and money, and also protect the environment.

11 November 2023, Mumbai

"A new report by Hong Kong-based environmental NGO Redress highlights that Asian supply chains are not ready to meet the demands of a circular fashion industry. The report identifies three key gaps: design knowledge, financial challenges, and leadership skills."
Three Key Gaps Identified
"Design knowledge: Asian manufacturers lack the knowledge and expertise to design for circularity. Financial challenges: The transition to circularity is expensive, and Asian manufacturers are struggling to secure financing. Leadership skills: There is a lack of leadership in Asia to steer the fashion industry towards circularity."
Report Presented at Fashion Summit Hong Kong
"The report was presented at a panel discussion at Fashion Summit Hong Kong, Asia's sustainable fashion event."

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08 November 2023, Mumbai

YÜNSA is a world-renowned manufacturer of worsted wool fabrics, catering to a diverse range of applications, including fashion, corporate wear, and upholstery. Founded in 1973 and publicly traded since 1990, YÜNSA has established a strong global presence with offices and agents in the USA, UK, Italy, and Germany.
A Commitment to Quality and Innovation
YÜNSA's state-of-the-art factory in Turkey encompasses the entire production process, from spinning to finishing, ensuring the highest quality standards throughout. Employing over 1000 skilled employees, YÜNSA boasts an annual production capacity of 4,500 tons of combed yarn and 12.5 million meters of fabric, catering to the needs of its extensive customer base worldwide.
A Diverse Product Portfolio for Every Need
YÜNSA caters to a wide spectrum of customer demands, offering a comprehensive range of worsted wool fabrics, from pure wool to blends incorporating cashmere, silk, linen, and viscose. This diverse product portfolio ensures that YÜNSA can meet the specific requirements of each customer, whether for fashion, corporate wear, or upholstery.
Sustainability and Technological Innovation at the Forefront
YÜNSA is deeply committed to technological innovation and sustainability. The company's innovative eDesigner software, designed to reduce sample production by 80%, ensures precise replication of designs, minimizing waste and environmental impact. YÜNSA's vision is to enhance life through sustainable, technological, and innovative textile solutions. The company's core values encompass reliability, customer focus, continuous improvement, and social responsibility.
Ambitious Goals for the Future
YÜNSA has ambitious goals for the future, aspiring to become the leading woolen fabric manufacturer in Europe by 2025 and globally by 2030. The company's commitment to quality, innovation, and sustainability positions it as a driving force within the textile industry, poised for continued growth and success.
YÜNSA's dedication to excellence and its unwavering commitment to sustainability make it a leading provider of worsted wool fabrics worldwide. With its innovative solutions and a diverse product portfolio, YÜNSA is well-positioned to continue its growth trajectory and remain a trusted partner for customers across the globe.

5 Key insights :

• Quality Leader: YÜNSA is a top global producer of worsted wool fabrics.

• Diverse Portfolio: YÜNSA offers a wide range of wool fabrics for fashion, corporate wear, and upholstery.

• Sustainable Practices: YÜNSA is committed to sustainability and innovation throughout its production process.

• Efficient Design: YÜNSA's eDesigner software reduces sample production by 80%.

• Global Presence: YÜNSA has a strong global presence with offices in key markets.

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06 November 2023, Mumbai

Background
The PaCT program was launched in 2013 by the International Finance Corporation (IFC) and various partners, including the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), and a number of global fashion brands and retailers.
The program is funded by the Kingdom of the Netherlands and the Royal Danish Embassy.
Objectives
The PaCT program aims to improve resource efficiency, reduce environmental impact, and promote sustainable practices in the textile industry.
Impact
The PaCT program has helped more than 338 factories to reduce freshwater consumption by 25 million m3/year and cut wastewater discharge by 21.08 million m3/year. These factories now save 2.5 million MWh/year in energy and avoid greenhouse gas emissions of up to 489,796 tons/year of CO2.
Role of BGMEA
As an implementing partner, BGMEA has been playing a crucial role in steering and implementing the PaCT program.

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08 November 2023, Mumbai

Brexit has had a significant impact on the UK's global trade reputation, both positive and negative.
Some supporters of Brexit argue that the UK has gained more autonomy and influence in global trade affairs, while others contend that the UK has weakened its position and bargaining power outside the EU.
The upcoming Import Export Show
It will explore the UK's post-Brexit trade status in depth, examining the full extent of the impact of Brexit on the UK's global trade reputation.
The event will also provide insights into how the UK can rebuild its reputation as a trusted and reliable trading partner.

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04 November 2023, Mumbai

EU Digital Product Passport Compliance
Avery Dennison, a leader in material science and digital solutions, has launched its Digital Product Passport as a Service (DPPaaS) to help brands comply with the upcoming EU regulations on Digital Product Passports (DPPs).
Phygital
DPPaaS is part of Avery Dennison's broader digital solutions portfolio, which connects the physical and digital worlds through its intelligent labeling and atma.io connected product cloud platform.
DPP is a key component of the European Commission's Circular Economy Action Plan (CEAP), which will be phased in starting in 2027 across key sectors such as apparel, textiles, batteries, and electronics.
As an associate member of the CIRPASS consortium, which advises the EU on the implementation of the DPP scheme, Avery Dennison has unique insights into the digital solutions that brands need.
A fit case
DPPaaS is a timely and innovative solution that helps brands prepare for the upcoming EU Digital Product Passport regulations.
By providing brands with the tools and resources they need to comply with the new requirements.

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