17 December 2021, Mumbai:

The global activewear apparel market size has the potential to grow by USD 157.1 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by distribution channel (offline and online) and geography (APAC, Europe, MEA, North America, and South America).

Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Adidas AG, ASICS Corp., Columbia Sportswear Co., Dick's Sporting Goods Inc., G-III Apparel Group Ltd., Gildan Activewear Inc., Hanesbrands Inc., Nike Inc., PUMA SE, PVH Corp., and VF Corp.

TECHNAVIO (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18 December 2021, Mumbai:

Adidas has revealed more about some of its initial plans to move into the metaverse, which it has been teasing with increasing regularity on social media over the past several weeks.

On the heels of hinting at its impending venture into the metaverse with a POAP (Proof of Attendance Protocol) last month, in connection with which it invited consumers to “join us as we voyage into the Metaverse” (upwards of 3,000 of the Adidas POAP tokens were minted since the November 19 launch), Adidas announced that it had acquired a plot of virtual land inside The Sandbox, and provided a sneak peek into a four-way collab with Bored Ape Yacht Club, Punks Comic, and Gmoney.

And more recently, the German sportswear giant confirmed the release of its first non-fungible tokens (“NFTs”) – 30,000 of them branded as part of its “Into the Metaverse” venture – on Friday, giving eager buyers the opportunity to get “exclusive access to Adidas Originals experiences and products," including “virtual wearables for blockchain-based gaming world The Sandbox and other platforms, plus physical products to match."

SOURCE: The Fashion Law 

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

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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17 December 2021, Mumbai:

Brussels, 16 December 2021 – 118 organisations signed today the TCLF^[1] Pact for Skills , an initiative promoted by the European Commission and coordinated by EURATEX.

The signatories acknowledge the skills challenge in the textiles ecosystem and commit to investing in reskilling and upskilling workers, integrating green and digital skills, and improving the attractiveness of the sector.

Members of the Pact will benefit from networking, guidance, and resources offered by the EC to implement the targets which are proposed in the Pact.

The Pact for Skills is part of the EU Industrial Strategy, addressing the competitiveness of 14 critical ecosystems, including textiles. The main aim of the Pact is maximising the impact of investments in improving existing skills (upskilling) and training in new skills (reskilling).

To reach such an ambitious goal, the Pact gathers various actors in the TCLF sectors: industry, employers, social partners, national and regional authorities, education and training providers.

These actors should work together and invest in large-scale skills partnerships, guarantee the exchange of best practices and increase the attractiveness of the sector.

Specifically, the TCLF Pact for Skills focuses on 5 objectives and for each of them, the signatories identified a certain number of target actions:

1. Promoting a culture of lifelong learning for all: one of the actions is to design and roll out courses promoting latest technologies and digital tools such as VR and AI (digital skills) and promoting durability, repair and waste management activities (green skills), in particular circular design skills.
2. Building a strong skills partnership with relevant stakeholders: signatories foresee to build regional and cross-sectoral partnerships between industry, education providers and authorities, which are adapted to their specific needs. .
3. Monitoring skills supply/demand and anticipating skills needs: to reach it, industry, policy and education stakeholders will establish the TCLF Skills Observatory.
4. Working against discrimination and for gender equality and equal opportunities: signatories will launch a TCLF manifesto of diversity and supporting initiatives to improve the gender balance and ensure equal opportunities for all.
5. Raising awareness & attractiveness on the TCLF industries, i.a. through dedicated information campaigns, showcasing the opportunities in the sector, and promoting mobility for young workers.

As of early 2022, the European Commission will offer signatories of the Pact for Skills to benefit from collaboration at EU, national and regional levels and in particular gain access to networking, knowledge and guidance & resource hubs.

“EURATEX is proud to coordinate this initiative,” says Alberto Paccanelli, EURATEX President. “Our companies’ success is based on finding the right people with the right set of skills.

This becomes increasingly difficult, so this Pact is a wake-up call to work together and develop a forward-looking strategy, where people are put at the heart of our sector.”

About EURATEX

As the voice of the European textile and clothing industry, EURATEX works to achieve a favourable environment within the European Union for the design, development, manufacture, and marketing of textile and clothing products.

The EU textile and clothing industry, with around 160,000 companies employing 1.5 million workers, is an essential pillar of the local economy across many EU regions. With over € 61 billion of exports, the industry is a global player successfully commercializing high added value products on growing markets around the world.

Working together with EU institutions and other European and international stakeholders, EURATEX focuses on clear priorities: an ambitious industrial policy, effective research, innovation and skills development, free and fair trade, and sustainable supply chains.

SOURCE: EURATEX 

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

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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20 December 2021, Mumbai:

With the approval of the Supervisory Board, the Executive Board of Adidas has decided to launch a multi-year share buyback program. Starting in January 2022, the company plans to buy back shares in an amount of up to € 4 billion until 2025.

Taking into consideration the € 1 billion share buyback completed in 2021 already, the company intends to return up to € 5 billion to its shareholders through regular share buybacks alone during the five-year strategic cycle.

The buyback activities are complemented by the company’s annual dividend payouts in a range of between 30% and 50% of net income from continuing operations. 

Strong shareholder returns are a key component of Adidas's new strategy ‘Own the Game’. As part of ‘Own the Game’, Adidas plans to generate substantial free cash flow until 2025 and return the majority of it – between € 8 and 9 billion – to its shareholders via dividend payments and share buybacks.

In addition, the company plans to return the majority of the cash proceeds from the Reebok divestiture to the shareholders after the closing of the transaction, which is expected in the first quarter of 2022.

“Over the next couple of years, our business will become significantly more cash generative than ever before”, said Harm Ohlmeyer, CFO of Adidas. “And we will hit the road running in 2022: Driven by strong top-and bottom-line improvements, we will once again generate a high free cash flow, which we will almost entirely return to our shareholders next year.” 

As with previous share buybacks, Adidas intends to cancel most of the shares repurchased during the program, which would reduce the number of shares as well as the share capital accordingly.

ADIDAS (The news article has not been edited by DFU Publications staff)

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18 December 2021, Mumbai:

The eurozone economy is being dealt yet another blow from COVID-19, with rising infection levels dampening growth in the service sector, in particular, to result in a disappointing end to 2021. Germany is being especially hard hit, seeing the economy stall for the first time in a year-and-a-half, but the growth slowdown is broad-based across the region.

Encouragement comes from the manufacturing sector, however, where the strain on supply chains is showing some signs of easing, in turn helping to revive factory production.

These easing supply constraints have alleviated some of the upward pressures on inflation, though the overall rate of price increase in December was still the second-highest on record. While inflation could soon peak, the rate of increase remains elevated.

Looking ahead, the Omicron variant poses downside risks to the growth outlook as we head into 2022, and any accompanying disruption to supply chains could result in price pressures spiking higher again.

Economy slows in December

The headline IHS Markit Eurozone Composite PMI® dropped two points from 55.4 in November to 53.4 in December, according to the 'flash' reading*, indicating an easing in the rate of output growth to the lowest since March.

The decline takes the average reading for the fourth quarter to 54.3, substantially lower than the 58.4 average seen in the third quarter. As such the PMI data point to a marked weakening of economic growth in the closing quarter of 2021, albeit with the rate of growth remaining above the survey's pre-pandemic long-run average of 53.0.

Service sector hit by COVID-19

The December slowdown was led by the service sector, where business activity grew at the weakest rate since April.

Slower service sector activity growth was in turn led by a steep fall in tourism and recreation activity of a similar magnitude to the declines seen at the start of the year amid rising COVID-19 infection rates and associated restrictions across the region. Inflows of new business into the service sector also slowed, dropping to the lowest since the recovery from early-2021 lockdowns began in May.

Manufacturing output growth meanwhile picked up, the factory sector outpacing services for the first time in five months, yet remaining well below rates of expansion seen earlier in the year.

Despite manufacturers reporting a weakening of new order growth, December saw the largest expansion of production since September thanks to an easing of supply constraints.

IHS Markit  

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

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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17 December 2021, Mumbai:

The team of the Munich Fabric Start Exhibitions GmbH has dedicated the last weeks to the finalisation of the upcoming MUNICH FABRIC START from 25/01 - 27/01/2022 and BLUEZONE from 25/01 - 26/01/2022: the new measures for safe events have been implemented; the organisers are ready to welcome the industry in Munich in just a few weeks.

And the current status is impressive: more than 600 suppliers from 33 countries are registered for MUNICH FABRIC START, including around 90 international denim suppliers for BLUEZONE.

The visitors can expect safe and inspiring trade shows with fully booked halls at almost pre-pandemic level!

“We are overwhelmed: we will be able to offer more than 600 exhibitors and thus around 1,100 collections a physical platform at the upcoming MUNICH FABRIC START and BLUEZONE.

This impressive current status and the enormous support from the industry is in this exceptional situation a milestone and anything but a matter of course.

Despite the great planning uncertainties, we are highly motivated to offer the industry a safe and inspiring trade show at the end of January – to build on the success of our two shows that were already realised during the pandemic." Frank Junker, Creative Director MUNICH FABRIC START

Safe show days thanks to a proven hygiene concept and the so called 2G+ rule The organisers are very aware of the great social responsibility and of course always place the health and safety of all participants at the top. At the moment, the so called 2G+ regulation is planned, whereby only vaccinated and recovered people with an additional valid Covid-19 test will have access to the exhibition grounds.

The extensive hygiene concept, which has already been proven at the last trade shows, is regularly adapted to the dynamic requirements. MUNICH FABRIC START says Hello EVERY.BODY The trend theme for Spring.Summer 23 – EVERY.BODY – stands for a new feeling, even a new definition of individuality and community.

In the search for optimism, a new balance and an individual self-image, our industry meets with a newly learned cosmopolitanism and tolerance.

There is a longing for personal exchange and the tactile experience of textiles – exactly what is missing without trade shows. In addition, it is about collecting new information and inspiration, without a screen or headphones.

SOURCE: MUNICH FABRIC START & BLUEZONE  

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

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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18 December 2021, Mumbai:

A Paris judge approved a 10 million euro ($11.27 million) settlement with LVMH (LVMH.PA) on Friday that closes a criminal probe into the luxury group’s role in a spying case involving the former top boss of France’s security services.

With the agreement, the world's largest luxury group and owner of the Louis Vuitton and Dior fashion houses avoid a public trial that could have aired details of work undertaken by former domestic intelligence services head Bernard Squarcini.

Squarcini, who was hired by the luxury goods giant in 2013 is suspected of drawing on his influence to collect classified information and notably of spying on activist journalist Francois Ruffin, according to court documents.

In 2016, Ruffin produced a documentary film called "Merci Patron" that put the spotlight on LVMH boss Bernard Arnault, following a family that lost their jobs at a supplier to the group.

PARIS, Dec 17 (Reuters) - A Paris judge approved a 10 million euro ($11.27 million) settlement with LVMH (LVMH.PA) on Friday that closes a criminal probe into the luxury group’s role in a spying case involving the former top boss of France’s security services.

With the agreement, the world's largest luxury group and owner of the Louis Vuitton and Dior fashion houses avoid a public trial that could have aired details of work undertaken by former domestic intelligence services head Bernard Squarcini.

Squarcini, who was hired by the luxury goods giant in 2013 is suspected of drawing on his influence to collect classified information and notably of spying on activist journalist Francois Ruffin, according to court documents.

In 2016, Ruffin produced a documentary film called "Merci Patron" that put the spotlight on LVMH boss Bernard Arnault, following a family that lost their jobs at a supplier to the group. 

The former intelligence chief, who served as a consultant for the luxury group for several years, is under investigation for influence peddling, illegally collecting information on private individuals, and violating privacy laws.

A lawyer for Squarcini, who has previously denied any wrongdoing, declined to comment on Friday.

The Paris public prosecutor's office said the agreement was "an efficient means of sanctioning acts prohibited under penal law," that was proven by the company to have ceased.

LVMH's acceptance of the agreement does not imply an admission of guilt or a judgment against the company, said Caroline Viguier, a judge at the Paris court Friday.

The settlement reflects an acknowledgment of "past shortcomings, that belong to the past," said LVMH lawyer Jacqueline Laffont, speaking in a hearing before the decision was announced.

REUTERS 

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

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DAILY NEWS:

• Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul

• Consumers will determine growth of sustainable fashion e-comm in India

• Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'

• Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22

• Nike strengthens retail presences with new store at DLF Mall of India,Noida

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