22 April 2022, Mumbai:

About the Ellen MacArthur Foundation

The Ellen MacArthur Foundation is an international charity that develops and promotes the circular economy in order to tackle some of the biggest challenges of our time, such as climate change, biodiversity loss, waste, and pollution.

ALSO READ YKK Announces New Collection of Recycled Zippers

About YKK

YKK solves the most complex fastening and attaching challenges. Since the company’s founding in Tokyo in 1934, YKK has continuously set industry standards for quality, innovation, and sustainability in the production of zippers, plastic hardware, hook and loop fasteners, webbing tapes, and snap and buttons.

YKK Corporation has joined the Ellen MacArthur Foundation Network to further demonstrate the company’s commitment to advancing the circular economy.

As YKK has long been a partner to many fashion brands that engage with the Foundation to drive circularity in the fashion industry, becoming a member of the Foundation's Network was a logical step to enable deeper collaboration among various stakeholders.

RELATED NEWS YKK(R) Touchlink™ Fastener to be Featured Across ARTILECT’s F/W 2022 Collection

With the release of the A New Textiles Economy report in 2017, the Ellen MacArthur Foundation brought the impact of the fashion industry into the spotlight and prompted many industry stakeholders to take action in order to unlock the environmental and economic benefits that a circular economy for fashion can bring to the economy, the environment, and society.

YKK has long been working to protect the planet through its products and processes and is further committed to actions and developments that are aligned with the Foundation's circular economy principles.

The circular economy is based on three key principles: eliminate waste and pollution, circulate products and materials, and regenerate nature.

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20 April 2022, Mumbai:

JUKI CORPORATION (Mr. Akira Kiyohara, Chairman & CEO located at Tama-shi, Tokyo, Japan) and PEGASUS SEWING MACHINE MFG CO LTD (Mr. Shigemi Mima, President & CEO located at Osaka-Shi, Osaka, Japan) have entered into a basic transaction agreement on April 26, 2021, to move forward with a business collaboration in the sales and development fields and announce to release the first model by joint development “Differential Lower Feed Safety Stitch Machines and Overlock Machines with integrated Control box M900/DJ series” in April 2022.

ALSO READ PEGASUS and JUKI enter into a fundamental transaction and cooperative sales agreement

The machines are supplied by both companies as part of the “JUKI Smart Solutions” product lineup.

Safety stitch machines and Overlock machines are lined up in M900/DJ series.

Product details： M900/DJ

RELATED NEWS JUKI takes a step closer to digitization with the launch of the ShuHaRi and E-learning platforms

M900/DJ series are compact sewing machines integrating with a direct-drive motor, control box, and operation panel. Pneumatic lint collector (LC) and presser foot lifter (PL) and operator-friendly LED light is provided as standard. M900/DJ2x can automatically set thread trimming function by detecting the edge of the material with a sensor.

With a safety function to prevent false operation, operators are prevented from mistakenly cutting material and getting injured by false operation.

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CREDITS: Juki (The news article has not been edited by DFU Publications staff).

18 April 2022, Mumbai:

Work-from-home, coupled with an elevated concentrate on health throughout the pandemic, has given new wings to the athleisure attire section, which is projected to keep up momentum even post-pandemic.

Brands on this house are increasing with experiential shops in 2022, to make inroads into tier-II and tier-III cities.

ALSO READ Athleisure, staples one needs to create a comfortable & stylish look

According to Ankur Bisen, senior associate and head (client, meals, and retail), Technopak Advisors, the section witnessed around 15% development throughout the pandemic and would proceed to develop at an identical charge this yr. Analysts peg the Indian athleisure market at over `54,000 crore.

‘Stretching’ past metros

Manufacturers resembling Jockey and Enamor, which began off as innerwear specialists, have seen athleisure change into their fastest-growing section, and at the moment are trying to increase outdoors metros, transferring into tier-II and tier-III cities.

Karthik Yathindra, chief advertising officer, Jockey India – Web page Industries, shares that Jockey Athleisure and Jockey Transfer at the moment are mainstays within the total portfolio, throughout all gross sales channels.

RELATED NEWS Tata CLiQ sees exceptional growth in ‘at home’ fashion and athleisure

Athleisure varies at the moment and contributes to about 25% of the corporate’s income. “We’re current in about one-fifth of the geography of India, and our goal is to amplify our presence 5 occasions over in our key markets,” he says.

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CREDITS: Financial Express Business Khabar Invest Medium (The news article has not been edited by DFU Publications staff).

21 April 2022, Mumbai:

Reliance Brands (RBL) has acquired a 51 percent stake in couturiers Abu Jani Sandeep Khosla (AJSK).

The partnership will accelerate the 35-year-old couture house's growth plans in India and across the globe.

It will enable the brand to strengthen India’s position as a creator finest fashion across the globe, believe the two designers.

ALSO READ Reliance Brands: 6th ‘Designer Brand’ acquisition & counting

Based in Mumbai, the couture label Abu Jani Sandeep Khosla is renowned for its classic and elegant designs.

The fashion house features three other labels, Asal by Abu Sandeep, a diffusion, formal, occasion and wedding wear, womenswear label; Gulabo by Abu Sandeep, luxe pret separates, featuring casual and formal wear for women; and Mard by Abu Sandeep, a formal and occasion wear men’s label.

RELATED NEWS Reliance Brands Limited x Rahul Mishra have teamed together

The Mukesh Ambani-controlled oil-to-retail conglomerate, Reliance Brands is expanding its portfolio in the luxury and retail space.

In 2021, it entered a strategic alliance with designer Manish Malhotra’s brand and also made an equity investment in fashion designer Raghavendra Rathore’s company and Abraham & Thakore. At present, RBL operates 680 stores and 916 shop-in-shops in India.

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20 April 2022, Mumbai:

Reliance Retail Focussing on Innerwear.

Reliance Retail has bought lingerie brands Clovia, Zivame & Amante as innerwear is set to drive growth within apparel.

New Buys Tailor-made to Help Rel Retail Rule Innerwear Biz.

ALSO READ Reliance Retail Ventures acquires equity stake in Clovia

Reliance Retail looks to fix the price point puzzle to capture a big chunk of the huge market opportunity.

Growth Path
Indian consumer spending on apparel especially innerwear is much lower compared to Asian peers, signalling a significant opportunity for growth.

Moving In
HOW RELIANCE CORNERED THE LINGERIE MARKET
Hush
Clovia
Zivame
Amante
Hunkemoller
M&S
Source: ET Research

RELATED NEWS Zivame launches online sale event in partnership with Ananya Pandey

RELIANCE'S ARSENAL

What Reliance has acquired are not just brands but online portals.

Ramesh Agarwala, chief financial officer and executive director of innerwear company Rupa & Co, said many offline-only brands have struggled to increase revenue beyond a point.

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CREDITS: ET Dt 20-04-2022 (The news article has not been edited by DFU Publications staff)

18 April 2022, Mumbai:

J&K got investment offers of over 52,000cr last year.

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CREDITS: TOI Dt 18-04-2022 (The news article has not been edited by DFU Publications staff)

21 April 2022, Mumbai:

Sivaramkrishanan Ganapathi, Managing Director, Gokaldas Exports says, the newly approved production linked incentive (PLI) scheme will benefit his company from FY24 onwards.

India’s leading garment manufacturer and exporter based out of Bengaluru, Gokuldas Exports has a turnover of over Rs 1,000 crore with a diverse workforce of over 20,000 employees at 23 factories located in the states of Karnataka, Andhra Pradesh, and Tamilnadu.

ALSO READ Gokaldas Exports reports rise in net profit

Ganapathi believes the scheme will boost MMF investments in India.

It will not bring in any benefits for the company in FY23 as it already has a strong order book and expects strong growth during the year.

RELATED NEWS Gokaldas Exports shares witness record high upward trend, in one month

The Indian government approved 61 companies for the textile production linked incentive (PLI) scheme with investments worth Rs 19,000 crore and an expected turnover of Rs 1.84 lakh crore in 5 years.

It hopes to accelerate India’s textile exports to $100 billion and create 2.4 lakh new jobs during the period.

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19 April 2022, Mumbai:

Despite shipments surging over Rs 33,000 crore in FY22, the future ahead looks tough for knitwear exporters in Tiruppur as raw material prices have increased due to the pandemic outbreak.

As per the Tiruppur Exporters’ Association, in the last 18 months, prices of cotton yarn increased steadily along with accessories prices.

MSMEs in Tiruppur are being compelled to execute their orders at increased prices, despite incurring losses or getting a wafer-thin margin.

ALSO READ TEA, Tirupur: Knitwear exports contributed 1% of India's exports in FY22

Exporters demand new schemes Raja M Shanmugham, President, TEA says, the crisis needs to be addressed on a war footing.

The Centre needs to announce a new scheme like ECLGS to allow MSMEs to avail of additional credit facility of 10 to 20 percent of the existing limit, he adds.

Knitwear exporters in Tiruppur are being compelled to complete committed export orders for the same price of garments, as buyers are not inclined to increase prices.

RELATED NEWS TEA advocates for a two-year extension of the IES on pre-and post-shipment rupee export credit

Exporters are also facing a decline in the number of orders being placed compared to the corresponding period of last year.

Training workers to match global standards Currently employing 600,000 workers, Tiruppur directly houses the most number of women entrepreneurs and migrant workers from the north and northeast.

The city contributes about 60 percent of total knitwear exports from the country and exports only cotton-based garments.

RELATED NEWS Tirupur exporters meet FM, urging to help SMEs

This offers it ample scope to increase its share in the global market by focusing on value-added and synthetic products, adds Shanmugham. The association plans to construct 100,000 houses for its garment workers.

This would enable laborers to shift permanently from their home villages to these industrial clusters.

The houses will have all required amenities, says TEA.

The association is also training existing laborers to compete with global players like China, Korea, Bangladesh, and Vietnam.

It is seeking the Centre’s help to upskill workers to match global standards. Its primary goal is to enhance current exports turnover to around Rs 1 trillion in another two to three years, adds S Sakthivel, Executive Secretary, TEA.

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CREDITS: The Tiruppur Exporters’ Association

21 April 2022, Mumbai:

Retailers and apparel brands including Lifestyle, Reliance Retail, Raymond, and Woodland said they will either hold product prices or take only marginal hikes despite unprecedented inflation across input costs as it could derail the recovery witnessed over the past few weeks.

"As a retailer, we have taken a stance of not increasing product prices for the next six months since it could affect the positive consumption trend we are seeing now," said Devarajan Iyer, chief executive of departmental store chain Lifestyle International.

ALSO READ January retail sales restricted to 91 per cent of pre-pandemic levels: RAI

Retailers across apparel, lifestyle products, restaurants, and supermarkets are expected to post double-digit revenue growth year-on-year for the March quarter despite a slow start due to the Omicron wave, with the reopening of offices and schools, and weddings driving demand.

Amit Agarwal, group chief financial officer at Raymond, added that the company will look at cost efficiencies and reducing discounting instead of direct price hikes.

RELATED NEWS Retailers across India on an expansion drive as sales surpass pre-COVID levels

India's largest retailer, Reliance Retail, has also decided not to increase the prices of the apparel owned by them fearing it could jeopardise demand generation.

In branded apparel, profitability has been under pressure for more than a year given sharp raw material inflation.

For instance, shoe and apparel maker Woodland managing director Harkirat Singh said raw material prices have gone up by 20-25% in the last 3-4 months, yet the company will not hike prices for the next few months.

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CREDITS: ET Pehal News News Nation India (The news article has not been edited by DFU Publications staff).