28 September 2023, Mumbai

Green Transformation Fund

BDT5,000 crore refinancing scheme

Long-term loans with a maximum interest rate of 5%

Factories can avail 70% of the costs of letters of credit against their required (machinery) imports as loans

Maximum loan amount of BDT200 crore

Can be used for water efficiency, conservation and management, waste management, resource efficiency and recycling, renewable energy, energy efficiency, heat and temperature management, ventilation and wind flow efficiency, working environment improvement initiatives, and other areas

Technology Development Fund

BDT1,000 crore scheme

Cheap loans to 100% export-oriented industries to upgrade the technologies they currently use

Tenure ranges from 3 to 10 years

Interest rate depends on the tenure (5% for less than five years, 5.5% for between 5 years and less than 8 years, and 6% for more than 8 years to 10 years)

Maximum of 1 year grace period

Can be used for replacing outdated machinery, adopting technology for renewable energy, and upgrading of machinery used in business operations and waste management.

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25 September 2023, Mumbai

Bangladesh Denim Expo taking place on November 8–9 at the International Convention City Bashundhara (ICCB).

The Bangladesh Denim Expo is a remarkable initiative founded by Mr. Mostafiz Uddin, driven by a passion for denim and a commitment to social responsibility.

The expo showcases Bangladesh's burgeoning potential in the denim industry, a sector where the country has earned a reputation for producing high-quality denim and jeans at competitive prices.

Beyond commerce

Beyond its commercial appeal, the Bangladesh Denim Expo serves as a platform for like-minded denim enthusiasts from around the world to unite and envision a new future for the industry.

A catalyst for change; By raising industry standards and promoting ethical practices, the expo helps to create a more equitable and sustainable future for all.

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16 September 2023, Mumbai

With over 20 years in the industry, Nemanthie has been pivotal in executing the MAS "Plan for Change," over the last few years, both as the Director – Product Creation & Sustainable Business at MAS’ largest business unit, and in her current role as the Director – Group Sustainable Business at MAS Holdings.

Nemanthie’s unique insights offer a front-row seat to the innovative practices and strategies that MAS Holdings is using to spearhead industry transformation with globally known brands.

Journey to Sustainability

Nemanthie can provide valuable insights into the company's sustainable product strategy, and the steps taken in the last year to pilot and scale efforts in circularity.

Nemanthie and her team are currently also working on exploring what comes beyond the 2025 targets set in the MAS Plan for Change and can offer some insight into what factors are influencing how MAS might choose to take their sustainability journey forward.

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27 September 2023, Mumbai

Learning about cotton production, marketing, and research

More than 30 textile manufacturing executives from 15 countries will visit the U.S. Cotton Belt September 30-October 7 on the 42nd COTTON USA Orientation Tour.

The tour, sponsored by Cotton Council International (CCI), is designed to help international customers learn more about U.S. cotton.

In progress

Tour participants will visit cotton farms, gins, and research facilities in the Mid-South, Texas, and California. They will also meet with U.S. cotton exporters and get briefings from industry organizations.

The COTTON USA Orientation Tour is a vital event for the U.S. cotton industry. It helps to build and strengthen relationships with international customers and showcase the high quality of U.S. cotton fiber.

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21 September 2023, Mumbai

Overall Growth

Bangladesh's total RMG exports to the world reached US$ 31.99 billion during the January-August 2023 period, showing 7.27% growth compared to the same period in the previous year.

EU

The EU is Bangladesh's largest RMG export destination, and it played a major role in the overall growth. Bangladesh's RMG export to the EU increased by 5.96% during the mentioned period, with a total export value of US$ 15.87 billion.

USA, UK, and Canada

Bangladesh's RMG exports to the USA decreased by 8.08% during the mentioned period, dropping to US$ 5.69 billion. Conversely, exports to the UK and Canada experienced positive growths of 13.60% and 6.79% respectively, with exports amounting to US$ 3.60 billion and US$ 1.05 billion.

New Markets

Bangladesh's RMG exports to new markets continued to grow, reaching US$ 5.80 billion in Jan-Aug 2023, showing 28.31% growth compared to the same period in the previous year.

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15 September 2023, Mumbai

Apparel Group's Crocs has opened its latest store at the Riyadh Park Mall in Saudi Arabia, further cementing its dominant presence in the country. The new store is the brand's 37th in Saudi Arabia and its 80th in the GCC region.

Unveiling

The official store launch was held on September 8th and was attended by esteemed guests including key influencers and media personalities from the region.

The guests enjoyed the lively atmosphere in the store, which was filled with music from a top-notch DJ and colorful graffiti art. They also had the chance to personalize their Crocs with Jibbitz, the brand's signature charms.

Quotes

Neeraj Teckchandani, CEO of Apparel Group, said, "Crocs has always stood at the intersection of comfort, style, and innovation. Our expansion in Riyadh and the broader GCC region is a testament to our unwavering commitment to our loyal customer base.

The Riyadh Park Mall store is not just another location – it's a celebration of our shared journey with our customers who have embraced the brand wholeheartedly."

The new Crocs store in Riyadh Park Mall offers residents and visitors an extensive collection of the brand's latest designs, bringing forth a blend of comfort, color, and innovation.

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20 September 2023, Mumbai

Non-profit Organisation Global Fashion Agenda Unveils New Film Series "Fashion Redressed" to Mobilize Sustainability in the Fashion Industry

Fashion Redressed, a new online film series presented by Global Fashion Agenda and produced by BBC StoryWorks Commercial Productions, intends to inspire the industry to take action to transform the way we produce and consume fashion.

The series comprises multiple films that showcase organizations from across the fashion and textile industries, spotlighting the innovations that are influencing the new seasons of fashion and featuring a collection of stories that depict tailor-made solutions to fit us and our planet.

The 11 self-contained branded films showcase a range of participants, including eBay, Elk, The Ellen MacArthur Foundation, Vestiaire Collective, Spinnova, Lenzing, Faherty, FarFetch, Waste2Wear, Colorifix, and Forest Stewardship Council. Each film focuses on a bespoke solution that can benefit us and the planet.

The series is a powerful reminder that we can all play a role in creating a more sustainable and equitable industry.

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14 September 2023, Mumbai

The Office of Textiles and Apparel (OTEXA) has released a report that shows a sharp decline in US apparel imports in the first seven months of 2023.

Imports from all major sourcing countries, including China, Vietnam, Bangladesh, and Indonesia, declined significantly. The total value of US apparel imports fell by 22.28% to $45.74 billion, and the volume of imports fell by 27.99% to 14.03 billion SME.

• The report attributes the decline in imports to a number of factors, including rising costs, inflation, and the ongoing COVID-19 pandemic. Despite the decline, the unit price per SME increased by 7.94%, suggesting that companies are passing on higher costs to consumers.

  The report also notes that there are some opportunities for growth in the US apparel market, particularly in diversified and high-value-added items. Companies that are able to innovate and offer products that meet the needs of consumers will be well-positioned to succeed in the current market environment.

  Outlines:

  • The decline in apparel imports is the largest since the global financial crisis of 2008.
  • The decline is expected to continue in the coming months, as rising costs and inflation put further pressure on businesses.
  • The decline is having a significant impact on the apparel industry, as many companies are struggling to maintain profitability.
  • The decline is also having a negative impact on jobs, as many apparel factories are being forced to close.

CREDITS: BGMEA Press Release.

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13 September 2023, Mumbai

Jason Ying Wins Champion and Best Visual Presentation Award

The Hong Kong Young Fashion Designers' Contest (YDC) 2023 grand finale was held on September 9, 2023. The event was a showcase of inspiration and creativity from 10 Hong Kong designers, who adopted a variety of styles. The winners of the competition were:

• Champion and Best Visual Presentation Award: Jason Ying, for his collection "Holometabolism"
• Excellence Award: Johnson Chong, for his collection "Last Chance Hiking With My Mum"
• My Favourite Collection Award: Tiger Chung, for his collection "Whispers From The Nomad - A Folk Horror Tale"

Jason Ying graduated from the Queensland University of Technology in Australia two years ago and has been working for a year to perfect his skills in pattern marking and sewing. Heavyweight Judges Offer Valuable Feedback to YDC Participants

MINI Hong Kong Continues Partnership as Lead Sponsor

YDC Collaborates with CASETiFY for Limited-Edition Commemorative Products

For the first time, YDC is collaborating with CASETiFY to infuse the inspiration of the 10 shortlisted designers into limited-edition commemorative products of CASETiFY accessories.

The collection will be available for public purchase from 9 October on the official website and all CASETiFY STUDiO stores in Hong Kong.

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