06 September 2023, Mumbai

'Best of Bangladesh Europe' showcases sustainable manufacturing

The event features 35 companies from apparel, textiles, agriculture, and other sectors. Over 1000 European visitors are expected to attend.

Event holds six interactive panel sessions on sustainable sourcing, workforce safety, agro-food, impact investing, and circular economy

Bangladesh Innovation Runway showcases the country's ability to produce high-end, sustainable, and innovative apparel products.

Highlights:

• Bangladesh is a major player in the global apparel industry and is committed to sustainable manufacturing.
• The country has a strong workforce with a focus on quality and innovation.
• Bangladesh is a growing market for agro-food products.
• There are many opportunities for collaboration between Bangladesh and Europe in the areas of impact investing and circular economy.

The "Best of Bangladesh Europe" event is a significant step in promoting Bangladesh as a sustainable and innovative manufacturing hub.

The event is expected to generate new business opportunities for Bangladeshi companies and help to strengthen ties between Bangladesh and Europe.

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04 September 2023, Mumbai

EUROSTAT for the period of January-June 2023 with a few analyses on the European Union’s (EU) overall import from the world and top sourcing countries:

• • EU's apparel import from the world declined by 9.22% in the first six months of 2023.
  • The decline was even steeper in terms of quantity (measured in kilogram), at 16.34%.
  • EU's apparel import from Bangladesh declined by 13.65% in dollar value and 17.59% in quantity.
  • EU's apparel import from China declined by 13.52% in dollar value and 15.45% in quantity.
  • EU's apparel import from Turkey declined by 11.12% in value term and 22.89% in quantity.
  • EU's apparel import from India declined by 6.49% in value terms and 14.07% in quantity.
  • EU's apparel import from Vietnam declined by 2.54% in value terms and 10.74% in quantity.
  • EU's apparel import from the other top sourcing countries also showed decline, with the exception of Cambodia, whose import increased by 0.14%.
  • The unit price (USD value/kg) of EU's apparel import from the world increased by 8.52% in January-June 2023.
  • The unit price of Bangladesh's apparel import increased by 4.79%.
  • The unit prices of other countries have also shown positive growth during the mentioned period.

  Analysis:

  The decline in EU's apparel import can be attributed to a number of factors, including:

  • The ongoing COVID-19 pandemic, which has disrupted supply chains and led to higher prices.
  • The war in Ukraine, which has also disrupted supply chains and led to higher energy prices.
  • The rising cost of living, which has led consumers to cut back on discretionary spending.

  Despite the decline in overall import, the unit price of EU's apparel import from the world increased. This suggests that EU buyers are shifting their focus to higher-quality and higher-value items. This is likely due to the rising cost of living, as consumers are looking for ways to get more value for their money.

  The decline in EU's apparel import from Bangladesh is significant, as Bangladesh is the second largest apparel supplier to the EU. This decline is likely due to a number of factors, including:

  • The rising cost of labor in Bangladesh.
  • The increasing competition from other low-cost apparel suppliers, such as Vietnam and Cambodia.
  • The stricter environmental regulations in Bangladesh, which have made it more expensive to produce apparel.

  The decline in EU's apparel import from China is also significant, as China is the largest apparel supplier to the EU. This decline is likely due to the same factors that are affecting Bangladesh, as well as the ongoing trade war between the US and China.

  The overall decline in EU's apparel import is a sign of the challenges facing the global apparel industry. The industry is facing rising costs, increased competition, and changing consumer preferences. These challenges are likely to continue in the coming years, and it will be interesting to see how the industry adapts.

   

CREDITS: BGMEA Press Release.

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28 August 2023, Mumbai

In Brief

The Brazilian lingerie brand, Mari M, has participated in Curve NY since 2018. In the June edition of this year, the brand presented its new Blooming collection with floral designs.

The prints were a hit with buyers, and the company was able to secure new business with both old and new customers.

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05 September 2023, Mumbai

• Retailers from across the UK attended the second day of Autumn Fair 2023, the UK's leading wholesale marketplace for home, gift and fashion. They were treated to a stimulating and informative day of trends and product inspiration, including two trend presentations from TrendBible.

  The first trend presentation focused on the key lifestyle trends for home, gifting and celebration in 2024. The four key macro trends are The Great Renovation, Meta Discovery, Democratising Domesticity and Inherent in Nature. The second trend presentation focused on two specific trends for 2024: Modern Love, a celebration of hedonism, and Retracing Roots, a festive trend inspired by Northeast Europe.

  On the show floor, retailers were positive about the event, with many finding inspiration in the latest trends. Some retailers also praised the use of the Connect app, which helps them to connect with suppliers and plan their visits.

  Outlines:

  • Retailers are looking for inspiration in the latest trends for home, gifting and celebration in 2024.
  • The Connect app is a valuable tool for retailers, helping them to connect with suppliers and plan their visits.
  • Autumn Fair is a great opportunity for retailers to find new products and trends.

   

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26 August 2023, Mumbai

The Yarn Expo Autumn 2023 will be held from August 28th to 30th, 2023 at the National Convention and Exhibition Center in Shanghai. The event will feature over 500 exhibitors from around the world, showcasing a wide range of innovative yarns, fibers, and sustainable offerings.

The fair will be divided into six zones:

• Cotton Yarn Zone
• Chemical Fibre Zone
• Fancy & Specialty Yarn Zone
• Linen and Ramie Yarn Zone
• Wool Yarn Zone
• Cashmere Yarn Zone

The highlights of the fair include the:

• India Pavilion, showcasing an eclectic range of products from India, including pure cotton carding to compact spinning, woven yarns to synthetic filament yarns.
• Uzbekistan Pavilion, spotlighting premium Uzbek cotton yarn.
• Pakistan Zone, featuring seven prominent suppliers from Pakistan, including Abtex International and Fabcot International.

The fair will also host a number of events, including:

• The New Fibre New World – Textile Materials Innovation Forum, which will explore the latest trends in textile materials.
• The Reborn – China Fibre Zero Carbon Action Display Zone, which will showcase the latest sustainable textile technologies.
• The Tongkun – China Fibre Fashion Trends Display Zone, which will present the latest fashion trends in yarn and fiber.
• The China Fibre Fashion Trends Display Zone and Forum, which will discuss the future of the textile industry.

The Yarn Expo Autumn 2023 is a must-attend event for anyone involved in the textile industry. The fair is a great opportunity to learn about the latest trends, meet with suppliers, and find new products.

Here are the subtitles in a more concise format:

• Overseas Yarn Zone: Over 100 suppliers from 14 countries.
• India Pavilion: Eclectic range of products from India.
• Uzbekistan Pavilion: Premium Uzbek cotton yarn.
• Pakistan Zone: Seven prominent suppliers from Pakistan.
• Fancy & Specialty Yarn Zone: Latest in-season yarn trends.
• Functional Chemical Fibre Zone: Environmentally conscious, functional, and fashionable products.
• Natural Cotton Yarn Zone: Nearly 50 cotton spinning enterprises.

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05 September 2023, Mumbai

Headwinds and tailwinds for Bangladesh's apparel exports

• Headwinds:
  • Devaluation of the national currency, making raw materials and machinery imports expensive
  • Energy crisis
  • Decline in orders and being squeezed price-wise
• Tailwinds:
  • US-China trade war, making Bangladesh a preferred replacement for China
  • Bangladesh's move to portfolio diversification and value-added items
  • Bangladesh's continued production during the pandemic
  • Bangladesh's ability to move away from basic to value-added garments
  • Bangladesh's efforts to meet sustainable standards

Good tidings for Bangladeshi exporters

• A 15% year-on-year growth in apparel exports in April 2023
• The US is the main driver of this growth, as it is reducing its reliance on Chinese imports
• Bangladesh is also benefiting from the Sino-US trade war
• However, Bangladesh is not the only country that is benefiting from this situation, and it is important to remain competitive

Bangladesh has remained dependable

• Bangladesh continued production during the pandemic, even when other countries were shutting down
• This earned the trust of importers, who are now looking to Bangladesh as a reliable supplier
• Bangladesh has also shown its ability to move away from basic to value-added garments

The year 2023 may not live up to expectations

• Despite the good news, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) is not convinced that 2023 will be a good year for apparel exports
• This is because garment imports by the US and the EU have declined in the first five months of the year

Conclusion

• Bangladesh's apparel exports are facing both headwinds and tailwinds in 2023
• The country needs to continue to diversify its products and meet sustainable standards in order to remain competitive
• However, the long-term outlook for Bangladesh's apparel exports is positive, as the country is well-positioned to benefit from the US-China trade war and the growing demand for apparel from emerging markets.

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31 August 2023, Mumbai

A study by JOOR found that Adidas is the most misspelled fashion brand, with an average of 556,000 online misspellings per month. Chanel and Swarovski are in second and third place, respectively.

Other commonly misspelled brands include Louis Vuitton, Versace, Jacquemus, Asics, Christian Dior, Moncler, Bottega Veneta, Tommy Hilfiger, Lacoste, Tag Heuer, Vivienne Westwood, and Dolce and Gabbana.

There are a few reasons why fashion brands are often misspelled. One reason is that the names of these brands are often made up of foreign words or phrases. Another reason is that the names of these brands are often long and complicated.

Whatever the reason, misspelling a fashion brand can have a negative impact on the brand's reputation and its ability to attract customers. So, if you're thinking of starting a fashion brand, make sure to choose a name that is easy to spell and remember.

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25 August 2023, Mumbai

Lycra FitSense is a water-based dispersion of the Lycra brand polymer that can be applied onto fabrics and garments to provide localized power enhancement, resulting in shaping and compression benefits.

The printable variant of the Lycra brand technology is underpinned by a global patent portfolio related to print technologies that modify garments for shaping purposes, achieved by altering the stress-strain characteristics of fabrics. Furthermore, Lycra FitSense technology benefits from trademark protection.

• Its primary application is found in various garment types including shapewear, activewear, swimwear, intimate apparel, and leggings. By utilizing this technology, lightweight single-layer printed fabrics are capable of delivering advantages typically associated with double-layer or heavier fabrics, thus minimizing material usage. This technology facilitates superior garment construction through precise, lightweight support.

Unveiling

Lycra Company is introducing a campaign to strengthen the protection of its intellectual property in connection with the Lycra FitSense technology.

The company has an array of patents and patent applications concerning the use of aqueous polyurethane dispersions, encompassing matters of composition, production methods, applications, and the benefits of this technology.

The company has recently enlisted proficient legal advisors based in Shanghai to pinpoint infringements of Lycra FitSense technology, affirming the intention to exhaust all available avenues to address patent and intellectual property violations.

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05 September 2023, Mumbai

IN BRIEF

A survey by the Hong Kong Trade Development Council (HKTDC) found that 90% of mainland Chinese companies plan to expand their international business activity in the next one to three years.

More than 70% of these firms focused on countries that were Regional Comprehensive Economic Partnership (RCEP) signatories or Belt and Road Initiative (BRI) beneficiaries. The survey also found that more than 60% of mainland enterprises preferred engaging Hong Kong-based professional service providers to ensure successful international expansion.

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28 August 2023, Mumbai

Apparel Group, a prominent force in the fashion and lifestyle sector, proudly presents an exclusive collaboration with esteemed Emirati artist Aysha Al Hamrani, known as @Mnawrah.

The exquisite artwork, titled 'Shaping the Nation of Dreams,' magnificently portrays Emirati women as the pillars of the nation, embodying resilience, unity, and spirit.

The constellation of seven stars symbolizes the harmony among the emirates, with each woman empowering and collaborating for a brighter future. In honor of Emirati Women's Day, 41 Apparel Group stores at Dubai Hills Mall host special in-store celebrations, cultivating an atmosphere brimming with appreciation, recognition, and solidarity, further accentuating the vital role Emirati women hold.

Mrs. Sima Ganwani Ved, Founder and Chairwoman of the Apparel Group, shares, "Emirati Women's Day transcends an annual observance; it encapsulates our profound commitment to lauding the remarkable accomplishments of Emirati women.

This year's theme, 'We Collaborate for Tomorrow,' seamlessly resonates with our vision of an assorted, inclusive, and united society. Our partnership with Aysha Al Hamrani underscores our deep regard for the contributions of Emirati women to our community."

This collaboration unfolds against the impactful backdrop of "We Collaborate for Tomorrow," a theme introduced earlier this year by Her Highness Sheikha Fatima bint Mubarak, the "Mother of the Nation." Beyond its powerful message, this theme perfectly aligns with the UAE's "Year of Sustainability," as declared by His Highness Sheikh Mohamed bin Zayed Al Nahyan.

It accentuates a mutual aspiration for innovative solutions that address global challenges and harmonizes profoundly with Apparel Group’s values of diversity, empowerment, and inclusivity.

Apparel Group's commemoration of Emirati Women's Day underscores its unwavering dedication to acknowledging and uplifting the pivotal roles women assume in society. Through solidarity and creativity, the Group persists in its commitment to a future where women's achievements are consistently exalted.

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18 August 2023, Mumbai

The Government of the United Kingdom has introduced a new tariff scheme titled “Developing Countries Trading Scheme (DCTS)”.

This scheme replaces the EU GSP scheme under which Bangladesh used to access the U.K. free of duty.

Benefits of the DCTS for Bangladesh

Under the new scheme, Bangladesh’s RMG products will continue to enjoy duty-free market access in the U.K.

The DCTS will make it easier to enjoy duty-free market access using imported raw materials.

Comparison with the EU GSP Plus scheme

The DCTS is similar to the EU’s GSP Plus scheme, but it does not include a textile safeguard provision.

This means that Bangladesh's apparel products are less likely to be subject to tariffs in the future.

Commitment to social and environmental standards

Bangladesh is committed to continuing to improve its social and environmental standards.

The DCTS recognizes this commitment and does not impose any additional requirements in this area.

Importance of the UK market for Bangladesh

The UK is the third largest export destination for Bangladesh. In the last fiscal year, Bangladesh exported US$5.02 billion worth of clothing to the U.K.

Growing interest from British clothing brands and retailers

British clothing brands and retailers are increasingly interested in sourcing from Bangladesh.

This is due to the progress that Bangladesh has made in improving its social and environmental standards.

Quick Message

• The DCTS is a positive development for Bangladesh. It will help to boost exports and create jobs. Bangladesh is committed to making the most of this opportunity.

CREDITS: BGMEA Press Release.

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