23 March 2022, Mumbai:

A list identifying and shaming greenwashing fashion brands might be released shortly if the Competition and Markets Authority (CMA) gets its way.

The Competition and Markets Authority (CMA) is the UK's competition regulator, a non-ministerial government institution charged with enhancing corporate competition and preventing and decreasing anti-competitive behavior.

It is looking at claims made by the fashion industry in the United Kingdom and will have a list of the worst offenders soon.

Last year, the CMA warned that the corporations had until 2022 to verify that their environmental claims were legal.

ALSO READ THE NEXT GENERATION OF MATERIALS… FROM WASTE

The Green Claims Code, which was released in October, outlines how firms may advertise their green credentials while minimizing the danger of consumers being misled.

"Before leaving with their hard-earned money, more individuals than ever are evaluating the environmental effect of a product. "We're worried that too many enterprises are falsely claiming to be green, while true eco-friendly businesses go unnoticed," said Andrea Coscelli, CMA's Chief Executive.

The Green Claims Code was created for all types of organizations, from multinational corporations to small firms. Failure to comply with the law can harm a company's image with consumers, as well as lead to CMA action.

RELATED NEWS Future Retail downgraded to restricted default by Fitch Ratings

Everything from fabric origin, manufacture, and transportation to trash would have to meet specific requirements in order for clothes to be fully sustainable. When a firm brands its products as eco-friendly, consumers should be able to learn about the complete supply chain and corporate procedures, as well as the pollution levels of the products.

According to the CMA, up to 40% of green claims made online may be false, implying that thousands of firms may be breaching the law and jeopardizing their image.

The CMA's 'worst offenders' list might soon include brands who disseminate incorrect or fraudulent information.

Companies will have to explain why specific goods or collections are environmentally friendly, as well as the percentage of recycled fibers in a garment. Shoppers spend about £54 billion on apparel and footwear each year.

Fashion is said to be responsible for anywhere between 2% and 8% of global carbon emissions, as well as waste and pollution. Every year, almost 300,000 tonnes of discarded clothing are burnt or buried in landfills in the United Kingdom.

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CREDITS: The Guardian, UK & Apparel Resources.

10 March 2022, Mumbai:

Meesho will bring down the payout cycle for sellers from 15 days to seven, the social commerce platform said on Tuesday.

The company also said that it won’t charge sellers for order cancellations - either by self or automatic ones.

ALSO READ: Meesho eyes at going for IPO

Payouts are payments made by an e-commerce marketplace to sellers after the sale happens on the platform.

The industry standard is 15 days. Meesho said it was the first company to offer a seven-day payment cycle.

RELATED ARTICLE Meesho digitized 4 lakh vendors

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CREDITS: ET.

19th February 2022, Mumbai:

The Better Buying Partnership IndexTM (BBPI), a new tool that examines buyer-supplier relationships through the lens of partnership quality, claims that by not seeking out their suppliers' ideas and insights on product and process innovation, various brands and retailers are missing opportunities to improve their businesses and incurring unnecessary costs.

It states that in order to increase corporate efficiency, businesses must collaborate with their suppliers on innovation.

ALSO READ: Leaders will forge alliances for a new era to tackle fashion’s social and environmental issues

"Brands and retailers are missing opportunities to reduce costs and increase efficiency by not partnering with and listening to their suppliers, and not fully seeing the contribution suppliers can make to the long-term success of the business," said Marsha Dickson, President, and Co-Founder of Better Buying Institute.

The BBPI allows suppliers to grade their customers based on 12 subjective criteria, with customers being classified as True Partners, Collaborators, or Detractors. Only after a buyer has consistently met a set of criteria is he or she designated as a True Partner.

The Better Buying Institute's (BBI) new Partnership Index, which awarded purchasers a score of 39 out of a possible 100, is cited by The Industry We Want (TIWW) program.

"These findings offer a clear picture of the burden suppliers face as a result of so many customers never, seldom, or occasionally giving enough time, enough visibility, consistent business, and fair financials," according to a TIWW statement.

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*Figures mentioned in the above article have been sourced from Apparel Resources article.

10 March 2022, Mumbai:

Uniqlo owner Fast Retailing Co 9983.T is suspending its Russian operations temporarily, it said on Thursday, reversing its previous position and adding that it condemned acts of aggression.

While numerous brands announced their exits from Russia over its invasion of Ukraine, Fast Retailing's founder had told Japanese media that the company would continue operating its 50 stores in Russia because "clothing is a necessity of life".

ALSO READ: 'Uniqlo India' sales jump 

But on Thursday it said: "While continuing our Uniqlo business in Russia, it has become clear to us that we can no longer proceed due to a number of difficulties.

"We condemn all forms of aggression that violate human rights and threaten the peaceful existence of individuals."

RELATED ARTICLE Uniqlo India reduces their losses 

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CREDITS: nasdaq.com.

19 February 2022, Mumbai:

Additional $2 Bn textile exports seen of which $650 Mn is MMF (MAN MADE FABRIC)

FTA aimed at increasing bi-lateral trade to 100$ Bn in 5 years, up from $60 Bn now.

Piyush Goyal: Safeguards put in place to prevent misuse.

India and the UAE signed on Friday a comprehensive economic partnership agreement, which will allow duty-free export of food products, textiles, gems & jewellery and pharma while giving easier access to Indian workers in high skill sectors to Emirates.

The deal signals the government's intent to return to signing FTAS as it seeks to push exports and the movement of Indian professionals.

ALSO READ: FTAs: Garments could form part of early harvest in trade talks with different countries

90% of India's exports to see zero duty from the date the agreement is implemented.

This will include.
> Textiles

'Doors will open for Indian exporters'

We expect this agreement to add at least 0.7% to India's GDP. It will have huge impact on our GDP as well, around 1.7%, while creating around 140,000 jobs in our market and more than a million in India

-Thani bin Ahmed Al Zeyoudi UAE'S MINISTER OF STATE FOR FOREIGN TRADE
CREDITS: TOI Dt 19-02-2022

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18 March 2022, Mumbai:

The Government of Tamilnadu unveiled its budget for the year 2022-23 today giving major thrust for the welfare of the people, infrastructure development, industrial growth, skill development, education, health, etc.

In a Press Release issued here today, Mr.Ravi Sam, Chairman, The Southern India Mills’ Association (SIMA) has hailed the various salient features of the State Budget describing it as a comprehensive and growth-oriented budget.

He thanked the Hon’ble Chief Minister for allocating Rs.32,660 crores for the industry that would attract huge investments in the State and create new jobs for several lakhs of people.

ALSO READ SIMA, CHAIRMAN: Indian Textile Mills concerned about global order cancellations

He has said that the textile industry is the largest industry of the State that accounts for 1/3 rd of the textile business size of the Nation would be greatly benefited out of the various benefits extended under Industrial Policy that encourages scale of operation.

RELATED NEWS SIMA: India to face a cotton shortage

Mr.Ravi Sam has stated that the allocation of Rs.2,400 crores for the infrastructure development and tackling the industry 4.0 initiatives for the Industrial Training Institutes (ITIs) in the State would help the industry to get skilled manpower to manage the future generation technology.

SIMA Chief has appreciated the announcement of implementing various special programmes jointly with the industry to create a skilled labour force.

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24 February 2022, Mumbai:

Sneakers made from banana or pineapple leaves, dresses from nettles or fish scales - the search for sustainable materials has taken the fashion industry to some wild places.

Experts warn these new textiles are not a quick fix for fashion's enormous problems with over-consumption and waste, but may be a necessary step in developing cleaner technologies.

ALSO READ: Renewable Carbon as a Guiding Principle for Sustainable Carbon Cycles

"You could possibly eat the final product," said Hannes Schoenegger, co-founder of Bananatex, which uses leaves from banana trees in the Philippines to make bags, T-shirts and a line of shoes for H&M that sold out within two hours.

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*Figures mentioned in the above article have been sourced from ET article.

17 February 2022, Mumbai:

On the occasion of the EU-Africa Business Summit, EURATEX is re-iterating the ambition of the European textile industry to grow its role on global markets, including the African continent.

The textile ecosystem is considered the 2nd most globalised sector of the European economy[1]; it is built on globalised supply chains and fierce competition with China, US, Bangladesh, Turkey and many others.

Imports are now peaking at €115 billion (ca. 60% garments and 40% textiles), with a dramatic increase of imported medical textiles (face masks) in 2020. Every year, 22 billion pieces of textile and garment products are brought into the EU Single market.

Europe’s answer to this competitive pressure must be to invest even more on quality and innovative products, made in a sustainable manner. As emerging markets evolve, the appetite for better quality, comfort and design will grow.

The ability and willingness to purchase technical textiles, which offer solutions to durability and improved performance, will increase.

ALSO READ: The global textile chemicals industry size by 2030!

That is where Europe can be successful. To illustrate: the EU’s exports to China have increased by 33% in 2021 (first 11 months). In its vision paper on the future of European textiles and apparel[2], EURATEX has confirmed its ambition to increase the global market share of the European textile industry.

Strengthening relations with nearby Turkey and North African countries is important in this regard, offering opportunities for nearshoring.

About EURATEX

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

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12 March 2022, Mumbai:

Tata group firm Titan Company on Friday said its subsidiary has inked a pact to acquire 17.5 per cent voting rights in US-based Great Heights Inc for USD 20 million (around Rs 152 crore).

ALSO READ: Titan Q3 FY22 Results

TCL North America Inc (TCLNA), a wholly-owned subsidiary of the company, has signed a stock purchase agreement with Great Heights Inc for a subscription of shares with voting preferred stock in the capital stock of Great Heights, the jewellery and watch maker said in a regulatory filing.

As per the pact, TCLNA would hold up to 17.5 per cent voting rights in Great Heights, it added.

RELATED ARTICLE Actor Rohit Saraf is the new brand ambassador for Titan-owned, Fastrack

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CREDITS: ET.

21 February 2022, Mumbai:

Honasa Consumer Pvt. Ltd (HCPL), the fastest-growing personal care brand house, has introduced Ayuga, a new skincare line. To connect with millennials and help popularise the brand, the company partnered with yoga and health ambassador

Shilpa Shetty Kundra. "Honasa Consumer was formed with the objective of developing a 'House of Brands' that identify and solve millennials' needs with a digital-first strategy," said Varun Alagh, co-founder and CEO of Honasa in a statement. 

ALSO READ: Mamaearth: Samantha Ruth Prabhu new brand ambassador

For the past two years, we've been trying to figure out why Ayurveda hasn't caught the attention of millennials in the same way that yoga has. That's when we came up with the concept of Ayuga, which combines the best of both worlds."

"Partnering with Shilpa Shetty Kundra for Ayuga broadened the brand's notion of restoring balance in life," said Ghazal Alagh, co-founder.

We're optimistic that our collaboration with Shilpa will help us spread our marketing message to millennials."

"I genuinely believe in the old sciences and have adopted a lot of the recipes and rituals in my life and have benefitted from it," Shilpa Shetty Kundra said of her affiliation with the company. 

When I first heard about Ayuga and the brand's philosophy, it hit me like a tonne of bricks. I am confident that customers will enjoy the brand and its goods, so I encourage them to restore balance in their lives by following Ayuga recipes and rituals."

Mamaearth and The Derma Co. are among the brands owned by Honasa Consumer Pvt. Ltd (HCPL).

Bhabani Blunt Hair Dressing Pvt Ltd recently purchased Bblunt, a haircare brand from Godrej Consumer Products Limited (GCPL), as well as Bblunt salons.

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*Figures mentioned in the above article have been sourced from IndianTelevision.com & Fashion Network article.

17 February 2022, Mumbai:

Language presents all-new Drivers for Men to add a touch of flair to your casual ensemble.

Language offers men handmade Drivers shaped from premium suede or grain leather with rubber-grommet soles, assuring comfort within luxury.

Language has a firm belief that the art of shoemaking is a fine balance of three qualities – aesthetics, comfort and durability.

Drivers from Language are versatile and comfortable for your casual outings. Some drivers are a combination of suede and grain leather, saddle detail & rubber sole that help you to be on your feet all day.

There are drivers designed to be a head-turner, crafted from authentic suede leather and elevated by a diverse colour palette. Make a fashion-forward statement with Drivers from Language.

READ MORE: Language shoes offer premium shoe line

Hand stitched with fine grain leather, rubber sole for your everyday use, a stunning pair that appreciates comfort with an absolute balance of style.

Find drivers made of soft suede and designed with metal trims from Language, they imbue the spirit of adventure into your lifestyle.

Explore the range of Drivers from Language at its exclusive brand outlets in Chennai and Hyderabad and in more than 200 multi-brand outlets across the country, at Viz., Metro Shoes, Mochi, Inc.5, Centro, Atesber, Regal Shoes.

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