16 December 2023, Mumbai

1. China Pivots: Embracing Domestic Might Amid Shifting Global Supply Chains

2. Facing a recalibrating world, China orchestrates a strategic shift in its supply chains, aiming for self-reliance in the face of global currents. Recent leadership meetings in Beijing grappled with vulnerabilities exposed by foreign shipping dependence and a rising exodus of US businesses.

    

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   Beijing Navigates Uncharted Seas:

   • Domestic Engine Revved: Recognizing its diminishing role in global car parts supply, China seeks to reignite domestic car production, leveraging its massive internal market as a catalyst.
   • Diversifying Trade Routes: Capitalizing on shifting alliances, China expands its trade partnerships, with rail cargo to Azerbaijan skyrocketing 47% as it navigates beyond Western shipping lanes.
   • Fortifying the Supply Lifeline: Leaders prioritize bolstering domestic supply chains, minimizing reliance on foreign shipping companies like those in India and Mexico.

   Headwinds in the Forecast:

   • US Exodus: 61% of American textile and apparel businesses are seeking production alternatives outside China, driven by rising costs and geopolitical tensions.
   • Belt and Road Jitters: Italy's retreat from the ambitious Belt and Road Initiative injects uncertainty into China's global outreach.

   Analysis: Strategic Adaptation, Not Retreat

   China's proactive approach to reshaping its supply chains is not a reactive retreat, but rather a strategic adaptation to a changing global landscape. While challenges remain, its massive domestic market and emerging trade partnerships offer avenues to navigate the shifting winds and propel continued growth.

   5 Key Insights :

   1. Domestic Drive: Car production revs up to counter global parts decline.

   2. Trade Tracks Shift: Rail to Azerbaijan soars, diversifying beyond Western lanes.

   3. Supply Line Secure: Minimizing reliance on foreign shipping companies.

   4. US Exodus Grows: 61% of American textile businesses seek alternatives.

   5. Belt and Road Wobbles

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15 December 2023, Mumbai

Reebok and Futureverse

Forget just wearing kicks; get ready to wear the future. Iconic sportswear brand Reebok has partnered with AI and metaverse pioneers Futureverse to unleash a digital fashion revolution.

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Think beyond sneakers and tees—we're talking cutting-edge experiences powered by AI, web3, blockchain gaming, and metaverse tech. Brace yourself for a whole new way to interact with Reebok.

Leaping into the Metaverse

2024 marks the arrival of Reebok Impact, a mind-bending digital shoe experience that will immerse everyone in the world of AI and virtual wearables.

This isn't just a sneaker drop; it's Reebok stepping off the athletic field and sprinting toward reshaping digital fashion.

But this isn't just about fancy shoes. This partnership is about changing how we see and engage with digital fashion. AI, Web3, gaming, and metaverse technologies are the game changers, blurring the lines between physical and virtual. It's time to make your online presence as powerful as your real-life self.

Remember Reebok's "life is not a spectator sport" mantra? Futureverse's play-to-learn approach takes it to the next level. Get ready to be inspired to live life to the fullest, both online and offline.

The launch of Reebok Impact is just the first step in this groundbreaking partnership.

More features, integrations, and experiences are on the horizon, ready to push the boundaries of innovation.

Short Message

This isn't a one-off collab; it's the dawn of a new era in digital fashion, and Reebok and Futureverse are leading the charge.

So, are you ready to step into the future?

Lace-up your digital sneakers and get ready to experience Reebok like never before.

5 Key Insights :

1. Fashion Forward: Reebok & Futureverse team up for AI-powered digital fashion revolution.
2. Metaverse Shoes: "Reebok Impact" drops in 2024, blurring lines between physical & virtual wearables.
3. Beyond Kicks: AI, Web3, gaming, and metaverse tech redefine how we interact with fashion.
4. Live Life Digitally: Play-to-learn approach empowers you to be your best online and offline.
5. Future Unlaced: This partnership is just the beginning, pushing the boundaries of innovation.

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12 December 2023, Mumbai

Moscow's Zaryadye Hall pulsated with the rhythm of international fashion from November 28th to December 2nd, 2023, as the BRICS+ Fashion Summit unfolded. More than just a showcase, it was a tapestry woven from diverse threads – industry titans, fashion education pioneers, and international associations, all gathered from 60 countries across continents.

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From Asia and Latin America to the Middle East and beyond, the summit stitched together a dialogue of style. Renowned names like Lucas Leao (Brazil), CHNNYU (China), and David Tlale (South Africa) shared their creative visions, while Alena Akhmadullina (Russia), Sadaels (Argentina), and Arzu Kaprol (Turkey) added unique textures to the global fashion canvas.

Leading the Indian delegation, Sanjay Chawla of DFU Publications, along with representatives from the esteemed Fashion Design Council of India (FDCI) under Sunil Sethi's guidance, wove India's rich handloom heritage into the summit's fabric. Top designers like Ritesh Kumar, Naushad Ali, Gaurav Khanijo, and Shruti Sancheti presented exquisite collections, showcasing the country's vibrant textile traditions.

Beyond the runway, the summit fostered collaboration and knowledge exchange. Industry experts, designers, and buyers mingled in the Zaryadye Park, forging partnerships and sparking new ideas. Fashion education institutions and international associations joined hands, building a bridge for future generations of fashionistas.

The BRICS+ Fashion Summit wasn't just a fleeting spectacle; it was a catalyst for innovation. New trends were born, collaborations blossomed, and the seeds of a more connected fashion world were sown. This wasn't just a celebration of style; it was a stitch towards a brighter, more inclusive fashion future.

Stay tuned for the next chapter in this global fashion saga. The BRICS+ story is just beginning!

Key Insights

1. Global Threads: 60 countries, diverse voices, united by fashion.
2. Beyond Runway: Collaboration and knowledge, not just catwalk glamour.
3. Stitching Style: Renowned designers, unique textures, weaving a global tapestry.
4. Handloom Legacy: India's vibrant traditions, woven into the summit's fabric.
5. Future Stitched: Innovation ignited, partnerships forged, a brighter fashion world.

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15 December 2023, Mumbai

From Pandemic Surge to $160 Billion Market: 

The Rise of Online Shopping in India

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Key Points:

• The pandemic has propelled India's online shopping, adding $8-$12 billion annually to its e-commerce market growth (2020-2028).
• The "How India Shops Online 2023" report by Bain & Co. predicts a surge from $60 billion in 2023 to a staggering $160 billion by 2028.
• 2023 will see a 17-20% growth, slightly lower than the anticipated 25-30% due to inflationary pressures.
• Big players like Amazon, Flipkart, and Reliance Retail's Ajio are ramping up investments to capitalize on this potential.
• India's online shopper base has grown remarkably, doubling its size between 2019 and 2022 with increased spending.
• Smaller cities (Tier II & III) and low-income/middle-income groups contribute significantly to the growth.
• Driven by new shoppers and increased fashion spending, the e-commerce sector is set for further evolution.
• The booming market is expanding the seller base, with over 10 million sellers expected by 2025.

Critical Insights:

• Social-commerce platforms are gaining traction, especially reseller-led models targeting first-time online shoppers.
• Quick-commerce and hyper-value commerce models are emerging, catering to convenience and affordability.
• Mobile internet penetration and improved logistics infrastructure are fueling the growth.
• The government's focus on digital initiatives like Digital India and e-commerce policy is also playing a crucial role.

Future Outlook:

• India's e-commerce market is poised for significant expansion, driven by a growing middle class, increasing disposable income, and smartphone penetration.
• Innovation and personalization will be key for brands to succeed in this dynamic landscape.
• Sustainability and ethical practices will gain importance as consumers become more conscious.

Overall, India's e-commerce market presents a promising future, offering immense opportunities for businesses and consumers alike.

5 Key Insights :

1. Pandemic Boost: Online shopping surges, adding $8-$12 billion yearly to India's e-commerce growth (2020-2028).
2. Market Explosion: From $60 billion in 2023 to a predicted $160 billion by 2028, fueled by new shoppers and mobile adoption.
3. Tier II & Beyond: Smaller cities and lower-income groups join the online shopping wave, driving significant growth.
4. Micro Trends: Social commerce, quick-commerce, and hyper-value models cater to convenience and affordability, shaping the future.
5. Sustainable Future: Innovation, personalization, and ethical practices will be key for brands in this dynamic and promising market.

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15 December 2023, Mumbai

Indian cotton spinners face a tough year, with revenue potential down 13–15% and profits shrinking 250–300 basis points, according to CRISIL Ratings. 

This gloomy outlook is fueled by lower yarn demand, higher cotton prices, and depressed yarn prices.

A study of 90 spinning firms, representing 40% of the industry, revealed record-low profit margins—7-8% lower than last year. Yet, CRISIL Ratings maintains that these firms remain financially strong and stable.

The culprit? 

A narrowing gap between cotton and yarn prices. Gautam Shahi, a CRISIL director, points to a decline from Rs 100 per kg to Rs 75–80 per kg this year, primarily due to steeper yarn price falls in the first half.

Knitwear and denim manufacturers, key domestic consumers, are tightening their purse strings. This dampens yarn demand, further impacting spinners.

Adding to the woes

The South Indian Mills Association (SIMA) raises concerns about a triple whammy impacting exports:

• 11% import duty on cotton: This hampers yarn competitiveness in global markets.
• High costs of man-made fiber and filament yarns: These pose additional challenges for yarn exports.
• Soaring power costs: These erode the industry's ability to compete domestically and internationally.

Seeking relief, the spinning industry appeals for government support and policy interventions. 

Measures to address these challenges are crucial to restoring the sector's health and securing its future.

5 Key Insights :

1. Revenue Tumble: Spinners face 13-15% drop in revenue, profits down 25-30%.
2. Demand Slump: Lower yarn demand from key consumers like knitwear & denim.
3. Price Squeeze: Narrowing gap between cotton & yarn prices hurts margins.
4. Export Woes: Triple whammy of import duty, high fiber costs, and soaring power.
5. Policy Plea: Industry seeks government support for relief and future revival.

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11 December 2023, Mumbai

WHY India

Indian retailers are doubling on in-store experiences to draw customers in the post-pandemic era. 

Despite high rental costs, they are expanding their retail spaces by 30-50%, betting on unique and immersive experiences to stand out from the crowd. 

Video Insights

The trick of the trade 

It's not just about attracting foot traffic, but also about converting visitors into loyal buyers. 

Retailers understand that in a $4 trillion economy, success hinges on experiences, not just products.

Data drives the trend:

• The top 7 Indian cities saw a 3.16 million sq. ft. gross leasing in retail in the first half of 2023, demonstrating consumer confidence and retailer commitment to experiential design.
• From January to September 2023, retail areas across major cities grew by 4.73 million sq. ft., reflecting the industry's agility in adapting to changing consumer preferences.

Beyond merchandise, experiences take center stage:

Pankaj Renjhen, COO and Joint-MD of Anarock Property Consultants emphasizes that physical stores are now about engaging the customer, not just displaying products. 

Retailers are expanding existing stores and opening new ones, capitalizing on a booming organized retail market. 

Data -points

CBRE India reports a significant 46% year-on-year growth in retail sector leasing during the January–September period of 2023.

In essence

Indian retailers are embracing a new paradigm, prioritizing experiences over mere merchandise to win the hearts and wallets of today's consumers.

| Key Insights |

| Retailers double store size |

| Unique experiences win customers |

| $4T economy rewards experiences |

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15 December 2023, Mumbai

From humble beginnings as comfy innerwear, knitwear has knitted its way to the top of the fashion heap, captivating both buyers and designers with its unexpected versatility. This isn't just your grandma's sweater anymore. Designers are pushing boundaries, experimenting with textures, cuts, and styles, creating everything from chic dresses to statement jackets. Emerging fashion talents particularly adore its malleable nature, allowing them to break the mold and express their creativity.

The global lockdowns of 2021 and 2022 were a turning point for knitwear. As people craved comfort and adaptability in their wardrobes, knitwear rose to the occasion. Its ability to stretch, breathe, and move with you made it the perfect companion for working from home, lounging around, and everything in between. In a surprising twist, knitwear seems poised to dethrone its long-standing rival, woven fabric, as the go-to choice for both comfort and style.

This surge in popularity isn't just a fleeting fad. Maximize Market Research Private Limited (MMR) predicts a massive global knitwear market boom, reaching $156.8 billion by 2030, fueled by a steady 5.8% annual growth rate. And it's not just sweaters leading the charge. Men's knitwear is expected to dominate, with a whopping 6.7% growth, cementing its position as the largest segment.

E-commerce plays a starring role in this knitwear revolution. Online sales have skyrocketed, making it easier than ever to discover and purchase the latest knitwear trends. This is especially true in emerging economies like Brazil, Russia, India, China, and South Africa (BRICS), where online knitwear sales are experiencing explosive growth.

Speaking of powerhouse players, China reigns supreme as the world's top knitwear producer and exporter. Bangladesh, India, and Vietnam follow closely behind, showcasing the global reach of this versatile fabric. In Europe, Germany and Italy hold the reins, producing and exporting knitwear on a grand scale.

Sum & Substance: Knitwear's popularity is no passing fancy. Its inherent charm, amplified by online accessibility and designer innovation, has secured its place as a fashion force to be reckoned with.

So, grab your favorite knitwear piece and embrace the cozy revolution!

5 Key Insights :

1. Cozy Couture: From innerwear to runway star, knitwear captivates with unexpected versatility.
2. Design Revolution: Pushing boundaries with textures, cuts, and styles, beyond grandma's sweaters.
3. Comfort Reigns: Lockdowns fueled knitwear's rise, its adaptability dethroning woven fabric.
4. Market Boom: $156.8 billion by 2030, led by men's wear and e-commerce surge.
5. Global Powerhouses: China leads production, with BRICS driving online sales.

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12 December 2023, Mumbai

A wave of closures and distress engulfed the Indian textile industry, mirroring the bleak landscape of the late 1960s. 

Video Insights

Dismantled machinery finds its way to scrap yards, as witnessed by Coimbatore's foundry owner, Sivakumar. In Somanur, weaver Kandasamy reports the monthly sale of over 10 looms within his village alone.

Nuanced View

Thulasidharan, head of the Indian Cotton Federation, paints a grim picture of the predominantly MSME-driven sector. 

Factories across the textile value chain are shutting down, selling off equipment, or even resorting to land sales to merely survive. Reduced work hours impact worker wages, while the textile and apparel share of the Index of Industrial Production plummets alarmingly.

Andhra Pradesh paints a similar picture, with P. Koti Rao, leader of the A.P. Textile Mills Association, reporting the closure of 8-9 mills. 

Soaring cotton prices, rising electricity bills, and a lack of government support threaten to push more mills towards closure.

This crisis is further compounded by sluggish domestic and international demand. Domestic demand remains stagnant, textile exports decline, and apparel exports experience concerning negative growth.

Several factors contribute to the industry's woes:

Rising Raw Material Costs: Raw materials (fibre), constituting 60-70% of production costs, have witnessed a dramatic surge, eroding the industry's competitiveness. Cotton prices are particularly volatile, with a decline in domestic production and yield exacerbating the issue.

Quality Control Orders (QCO) on Man-Made Fibre (MMF): 

The implementation of QCO creates hurdles and additional costs for MMF textile producers.

Unfettered Garment Imports: unchecked garment imports further disadvantage domestic manufacturers, making it difficult to compete.

Need of hour

The Indian textile and clothing sector stands at a critical juncture. Urgent attention and targeted solutions are needed to address these multifaceted challenges and ensure the industry's future. 

The collective effort of stakeholders, including the government, is crucial to creating a supportive environment that fosters growth and allows the sector to regain its competitive edge.

5 Key Insights :

1. Looms Abandoned: Closures and despair mark the industry, mirroring the 1960s crisis.
2. MSME Meltdown: Factories shut, equipment sold, survival a struggle for small textile players.
3. Costly Cotton: Soaring prices and declining yield erode competitiveness.
4. **Unfair Competition:**Unchecked imports and QCO hurdles disadvantage domestic producers.
5. Urgent Action Needed: Collective effort crucial to revive the industry at this critical juncture.

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11 December 2023, Mumbai

WHY India

Booming Growth:

• Young Power: The Economic Times forecasts that by 2028, youth will be 55% of consumers, a lucrative segment.
• Market Explosion: The clothing market is expected to reach $180 billion by 2030, growing 7% annually.
• Emerging Hub: India is not just a sourcing destination; it's a fashion enthusiast's paradise.

India's fashion arena is on fire

Video Insights

• India's fashion scene is ablaze with passion and talent.
• The flames of fashion are burning brightly in India.
• A fashion inferno is raging in the heart of India.

Challenges and Opportunities:

• Standing Out: Fierce competition from local and global players demands a unique brand identity.
• Customer Focus: Quality, improved experience, and embedded innovation are key to winning the market.
• Resilient Supply Chains: Building agile supply chains to handle disruptions like lockdowns.
• Bridging the Skills Gap: Investing in talent development to address the workforce skills gap.

  5 key insights for WHY India:

  Category	Insights
  Booming Growth	Young Power: The Economic Times forecasts
  Booming Growth	Market Explosion: $180 billion by 2030
  Booming Growth	Emerging Hub: Fashion enthusiast's paradise
  Challenges and Opportunities	Standing Out
  Challenges and Opportunities	Customer Focus
  Challenges and Opportunities	Resilient Supply Chains
  Challenges and Opportunities	Bridging the Skills Gap

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