07 April 2022, Mumbai:

Cricketer KL Rahul is the new brand ambassador by menswear brand XYXX.

Rahul will endorse the brand’s innerwear and loungewear.

ALSO READ XYXX Unveils Hype and Code, making #EverydayElevated Athleisure

The association will enable XYXX to expand its presence across India and penetrate deeper into the innerwear segment.

Yogesh Kabra, Founder, XYXX says, the association will enable the brand to narrate its unique growth story and expand further within the Indian innerwear and other segments.

KL Rahul says XYXX’s extraordinary attention to detail, ideology, and ethos is reflected in their tremendous growth trajectory, rapid expansion across geographies as well as fast-growing, loyal customer base.

RELATED NEWS XYXX Unveils Hype and Code, making #EverydayElevated Athleisure

XYXX retails through a dedicated e-commerce store as well as on multi-brand e-commerce platforms.

The brand also has an offline presence in several multi-brand outlets and is expanding across Rajasthan, Gujarat, Maharashtra, Madhya Pradesh, Goa, Chhattisgarh, Punjab, and Delhi. 

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07 April 2022, Mumbai:

According to statistics from January 2022, the US imported US $ 3.54 billion worth of man-made fibers (MMF), which is less than the US $ 3.70 billion worth of cotton imported in the same month.

In 2021, the narrative will be the same — at least, that's what the numbers show. In 2019, the US imported cotton apparel worth the US $ 38.70 billion, whereas MMF apparel was worth US $ 40.57 billion, and this trend continued in 2020 when cotton imports of US $ 29.82 billion were lower than MMF imports of US $ 31.21 billion.

ALSO READ Indian apparel exports show an upward trajectory in the coming months

However, since 2021, when the US imported cotton apparel worth US $ 39.30 billion vs MMF apparel worth the US $ 38.70 billion, there has been some movement, albeit little, and the trend appears to be continuing in 2022 as well.

An examination of the figures over the previous 14 months appears to reveal a clear picture of the diminishing demand for polyester or MMF goods in the textile industry. To put it another way, cotton is becoming more popular.

Yes, one of the explanations has been the recent rise in crude oil prices, as MMF-based apparel is constructed of synthetic fibers that rely on intermediates such as pure terephthalic acid (PTA) and monoethylene glycol (MEG).

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While the rise in oil prices has reduced demand for MMF goods, it has reintroduced cotton into the spotlight. Cotton has traditionally been the most popular natural fiber, and cotton-made clothing, whether for adults or children, is still regarded as the most comfortable to wear.

As a result, it's not surprising that, according to a poll performed by Cotton Incorporated Cotton Lifestyle Monitor, nine out of ten customers agree that comfort is crucial in clothing buying decisions, with cotton apparel regarded as the most comfortable by 80 percent.

Furthermore, while 81 percent of customers believe cotton-made apparels are softer than MMF apparel, 93 percent believe natural fibers such as cotton provide superior quality clothing. That sums it up well.

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In fact, 73% of customers indicated cotton was more essential to them when buying home textiles. Cotton-made clothing has stood out due to its wonderful soft hand feel and excellent moisture absorption, especially in nations with hot climates. The soft-touch feel is particularly appealing to young parents who desire the same for their infants and children.

More to the point, roughly 82 percent of parents stated they prefer cotton or cotton mix goods for their children's clothing. It's also worth noting that polyester is heavier and denser than cotton, as well as being less breathable.

Polyester/MMF has long been considered to be less sustainable than cotton; nonetheless, pandemic-affected 2020 and 2021 witnessed an increase in consumers being more environmentally mindful while purchasing garments or fashion items.

As a result, there has been an increase in demand for cotton-based clothing.

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CREDITS: Apparel Resources.

06 April 2022, Mumbai:

Brand Finance Ranking Report: Nike Retains Top Spot As Most Valuable Brand.

As a result of increased consumer demand for sportswear, brands in the sector achieved significant brand value growth: Nike (brand value up 9% to $33.2 billion), Adidas (brand value up 2% to $14.6 billion), Puma (brand value up 13% to $4.5 billion), and Lululemon (brand value up 28% to $4.2 billion).

ALSO READ Lucy Rouse has been named the new leader of Nike's SNKRS program

The new report finds that amongst the top 50 apparel industry brands, the aggregate brand value of luxury apparel brands has grown 21% this year (from $103 billion to $125 billion), sportswear brands have grown 10% this year (from $68 billion to $74 billion) while fast fashion brands have dropped 7% (from $44 billion to $41 billion).

RELATED NEWS Nike & Hermès File Lawsuits for Trademark Infringement: non-fungible tokens (NFTs)

Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes around 100 reports, ranking brands across all sectors and countries.

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CREDITS: Trade Arabia SBG Online Write Calibre (The news article has not been edited by DFU publications staff).

07 April 2022, Mumbai:

More knitting systems, higher productivity.

STOLL expands its CMS range for the volume market with the CMS 503 ki.

ALSO READ STOLL launches trend collection, "WONDERFUL"

STOLL completes its product range for the volume market with a new CMS model. With three knitting systems, the newcomer called CMS 503 ki is even more productive than its neighbor in the range, the CMS 502 ki, and covers the same range of applications as the latter.

A wide range of fully fashion articles can be produced with maximum efficiency.

And it does so with low operating effort and high operational reliability. Equipped with STOLL's proven technology, the CMS 503 ki is as easy to handle as ever and operates with high reliability.

With the new knitelligence® machine generation, the CMS 503 ki is also prepared for the special requirements of the modern digital age: Process automation, transparency, digitization, faster response times, shorter production cycles, networking, and new business models are just a few aspects that open up completely new opportunities.

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The CMS 503 ki is offered in gauges E3,5.2, E7.2, and E14/12. Other gauges can be requested.

The working width is 45" Series production of the highly economical machine will start on April 1, 2022, and the innovation will make its first public appearance at the ITM from June 14 to 18, 2022, at the Tüyap Exhibition and Congress Center in Istanbul, on the KARL MAYER Group's stand, number 714 A, in Hall 7.

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07 April 2022, Mumbai:

Sector executives are on their toes looking for a solution as the Indian textile and garment industry continues to struggle owing to increasing raw material prices. A team from the National Committee on Textiles and Clothing (NCTC), which represents practically the entire textile supply chain, met with Union Textiles Minister Piyush Goyal and presented him with a unified agreement.

They advocated for the elimination of the 11% import tariff on cotton, as well as a strategy to assist MSMEs in overcoming financial crises in order to preserve the whole textile industry. Importantly, the Minister has said that the matter will be addressed.

ALSO READ Piyush Goyal: Industry has responded well to the multiple Government interventions

Piyush Goyal met with a delegation that included Raja M. Shanmugham, President, Tirupur Exporters' Association; T. Rajkumar, Chairman, Confederation of Indian Textiles Industry (CITI); Manoj Patodia, Chairman, Cotton Textiles Export Promotion Council (TEXPROCIL); Narendra Goenka, Chairman, Apparel Export Promotion Council (AEPC); and Ravi Sam, Chairman, Southern India Mills' Association (SIMA).

The delegation demanded that the Minister intervene immediately to safeguard the textile sector and the employment of tens of thousands of people employed in it.

RELATED NEWS Piyush Goyal: Time for the Startups to help India become self-reliant

The garment sector is presently in a precarious position as a result of an extraordinary surge in cotton costs, which are hovering around Rs. 95,000 per candy in March, and the industry anticipates that if this trend continues, the price would reach Rs. 1,00000 per candy in a few months.

As a result, on April 1, 2022, the spinning mills raised the yarn price by Rs. 30 per kg, causing a spiraling impact in the value-added knitwear garment sector.

The delegation believes that the fortunes of cotton farmers are inextricably linked to the fortunes of the textile industry, and that, unfortunately, the cotton traders' game is disrupting the entire textile industry, accessories, dyes, and chemical suppliers, exports, and employment, including banks.

RELATED NEWS In 2021, India's domestic textile exports would generate US $ 6.68 billion in income

Buyers are not willing to increase prices, thus garment-exporting units must fulfill committed export orders at the same price of garments.

Furthermore, purchasers have the option of sourcing garments from our competitors, such as Bangladesh, Vietnam, Cambodia, and Turkey, which have tariff-free access to the EU market.

In addition, due to the impact of the Russia-Ukraine war, knitwear exporting factories are already receiving fewer quantity orders from clients than in the same period last year.

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Immediate measures included removing the 11% cotton import duty and allowing the duty-free import of 40 lakh bales to stabilize cotton prices without affecting cotton farmers; imposing mandatory cotton stock declaration with all stakeholders to curb hoarding and speculation by traders on the MCX and NCDEX; and announcing a specific scheme for MSMEs like ECLGS to bailout the knitwear garment sector, which accounts for 95% of the industry.

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CREDITS: Apparel Resources.

05 April 2022, Mumbai:

Ind-Aus ECTA to ensure full capacity utilization of Indian apparel factories, says AEPC Chairman.

Indian apparel factories' capacity will be utilized in full with the Economic Cooperation and Trade Agreement (ECTA) signed between India and Australia, stated the Apparel Export Promotion Council (AEPC) Chairman Narendra Goenka on Sunday.

ALSO READ Prime Minister Narendra Modi's 4 points strategic pathway aiming at $400Bn exports in FY22

Goenka welcomed the ECTA that was signed between India and Australia on Saturday and stated that it offers duty-free access to 96 percent of Indian goods including the labour-intensive apparel sector.

Goenka said, "Australia is the largest apparel importer in the southern hemisphere. Indian apparels currently face an average tariff of 4.8 percent in Australia as against zero-duty apparel from China and Bangladesh.

RELATED NEWS India may become the world’s garment factory in 3 years: Chairman, AEPC

Duty-free access to Indian apparel will bring us at par with global competitors and make our products competitive."

Australia is majorly dependent on China for its apparel imports.

However, India has been able to retain its share of around 3 percent of total apparel imports in Australia despite a shrinkage in import orders from across the globe including Australia during the Covid-19 pandemic.

It was 3.22 percent with an import of 203 million US dollars of Indian apparel in 2020.

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CREDITS: ANI News The Print Just-Style (The news article has not been edited by DFU publications staff).

07 April 2022, Mumbai:

According to the most recent official statistics given by OTEXA and further analyzed by Clothes Resources, the United States imported $7.48 billion in apparel in February of this year, up 38.70 percent year over year.

The US garment market continues to recover, as seen by apparel import data that have already surpassed pre-pandemic levels. In the period Jan.-Feb. '22, the US clothing imports were US $ 15.02 billion, compared to the US $ 14.22 billion in the same period of 2019.

In the second month of 2022, China, Vietnam, Bangladesh, India, and Indonesia remained the top five garment shippers in the United States.

ALSO READ Imports of underwear in the US risen in Jan'22

In February of this year, US garment imports from China totaled the US $ 1.68 billion, up 46.10 percent year over year, while apparel exports from Vietnam were the US $ 1.37 billion, up 33.70 percent year over year.

China's and Vietnam's development may take a brief hold from March onwards, since both nations had a rise in COVID-19 cases in March, causing uncertainty in company activity and some closures.

Meanwhile, Bangladesh remained unstoppable, with US imports from the nation reaching the US $ 688.47 million in February of this year, up 43.20 percent year on year.

RELATED NEWS Piyush Goyal: India hits historic $400bn merchandise exports

India and Indonesia are engaged in a fascinating export war, with India having the upper hand.

In February of this year, the United States imported the US $ 434.68 million in apparel from India, up 42 percent on a year-over-year basis, while shipments from Indonesia totaled US $ 427.29 million, up 54.20 percent from February of the previous year.

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CREDITS: Apparel Resources.

07 April 2022, Mumbai:

The signing of the long-awaited India-Australia Economic Cooperation and Trade Agreement – "IndAus ECTA" – has boosted the Indian garment industry's spirits.

The sector also praised the swift succession of such trade agreements, citing the India-UAE pact as an example. "Australia is the largest garment importer in the southern hemisphere," said Narendra Goenka, Chairman of the Apparel Export Promotion Council (AEPC), who hailed the ECTA struck between India and Australia.

In Australia, Indian apparel now has an average tariff of 4.8 percent, compared to zero percent for clothes from China and Bangladesh. Duty-free access to Indian garments would enable us to compete with global rivals and improve the competitiveness of our products."

ALSO READ India-Australia Historic ECTA: AEPC Hails

According to Raja M. Shanmugham, President of the Tirupur Exporters Association (TEA), this would strengthen our exporters' confidence and assist us to attain our goal of $1 trillion in goods exports by 2030.

For garment imports, Australia is heavily reliant on China. Despite a drop in import orders from all around the world, including Australia, India was able to maintain its share of roughly 3% of overall garment imports in Australia during the Covid-19 epidemic. In 2020, it was 3.22 percent, with the US $203 million in Indian clothing imports.

The reduction of the tariff disparity with China, according to Narendra Goenka, will assist the Indian garment sector take advantage of the China Plus One approach, which is being adopted by several nations.

RELATED NEWS India may become the world’s garment factory in 3 years: Chairman, AEPC

Because identical goods are created in India at similar price points, Australia is a key region for Indian garment exports. India has the ability to export knitted jerseys, pullovers, and T-shirts of man-made fibers (MMF), which is a large piece of Australian garment imports.

MMF's jerseys, pullovers, cardigans, waistcoats, and similar knitted/crocheted products were the most popular clothing imports last year. Cotton T-shirts comfortably occupied the second spot.

The Indian garment sector excels at generating spring and summer items, but not so well at manufacturing winter items. As a result, when making winter items, Indian manufacturers do not use their maximum potential. When Indian garment companies are experiencing a slow season, Australia, which is located in the southern hemisphere, will want spring and summer items.

RELATED NEWS Prime Minister Narendra Modi's 4 points strategic pathway aiming at $400Bn exports in FY22

"A zero-tariff agreement with Australia in the southern hemisphere will keep Indian manufacturers busy throughout the lean season with orders for our best-selling spring and summer items."

This will allow the facility to operate at full capacity throughout the year. In three years, zero-tariff access would more than treble Indian clothing exports to Australia, according to Narendra Goenka. Raja claimed that India's knitwear exports to Australia were anticipated to be around Rs. 925 crore in the previous financial year, 2021-2022, with a meager proportion of 2%, and he was hoping that the agreement will assist grow exports to Australia swiftly.

In the past financial year, 2021-2022, Tirupur alone exported knitted items worth roughly Rs. 630 crore to Australia, a figure that is expected to quadruple in the following two years.

Raja is hopeful that the Tirupur Knitwear Cluster units would seize this newfound opportunity and work hard to meet buyer demands and increase exports.

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CREDITS: Business Line & Apparel Resources (The news article has not been edited by DFU publications staff).

05 April 2022, Mumbai:

Listed apparel firm, Go Fashion (India) aims to expand its retail presence by opening around 130 new stores year on year besides growing omnichannel retail for smaller towns and cities.

A seller of women's bottom-wear clothing under Go Colors, Go Fashions aims to offer a seamless customer experience by building on a technology-driven growth strategy to reach consumers in Tier-I to Tier-III cities and realizing its expansion plans for current and emerging markets

ALSO READ Go Fashion to invest in omnichannel steadily

The company aims to launch more designs while providing more brand destinations for consumers, says Gautam Saraogi, CEO. Founded in 2010, Go Fashion has an 8 percent share in the branded women's bottom wear market.

The women's bottom wear business is expected to grow 35 percent from Rs 13,500 crore in FY20 to Rs 24,300 crore by FY25.

Tapping into this significant growth potential, the D2C brand Go Colors aims to extend its market share.

RELATED NEWS Go Fashion, Ecstatic Achievement: 500th store in Pune

The brand adopts a sharp pricing strategy and offers products across various colors and styles.

According to a recent ICICI Securities report, the organized sector in the women’s bottom wear market is expected to grow at 24.3 percent CAGR to reach Rs 92.4 billion by 2025.

The fragmented nature of the industry and lack of organized players and limited branded competition will enable Go Colors to benefit from the growth in the bottom-wear segment, the report adds.

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CREDITS: ICICI Securities report.

07 April 2022, Mumbai:

Prices of cotton-based clothes and other textile items are projected to rise as cotton prices rise to more than Rs. 90,000 per candy.

This will be the second price hike in the previous few months, after basic clothing makers in Tiruppur raised prices by 15% in December 2021. Many clothing factories around the country have taken similar moves.

Garment makers believe they have no other choice because cotton prices are rising on a daily basis.

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

"Overseas clients are unwilling to grant any more price hikes since they have already increased rates," Raja M Shanmugham, President of Tiruppur Exporters' Association, stated. He also stated that the cost of cotton-based clothes increased by 15% between October 2021 and April 2022.

RELATED NEWS Tirupur exporters meet FM, urging to help SMEs

The President of the Indian Cotton Federation, J. Thulasidharan, has asked for steps to regulate the keeping of cotton stockpiles. Industry executives have been on their toes for more than a year trying to limit the volatility in cotton prices, but no solution has been found.

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CREDITS: Apparel Resources.

06 April 2022, Mumbai:

Tiruppur Exporters’ Association (TEA) has emphasised on promoting the Tiruppur cluster model across 750 districts of India stating that it will help India clock USD 3 trillion in exports in the near future.

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

Among the top garment hubs of India, Tiruppur contributes 1.06 per cent to India’s overall exports and has transformed itself into a major hub for the textile industry.

Highlighting the achievements of Tiruppur, Raja Shanmugham, President, Tiruppur Exporters’ Association told KNN, “A small cluster like Tiruppur which largely constitutes MSMEs contributes USD 4.3 billion to the country’s total exports.” 

RELATED NEWS Tirupur exporters meet FM, urging to help SMEs

He suggested that the Tiruppur cluster model must be developed across all the districts on a particular chosen product line which will easily help India achieve USD 3 trillion in exports in the future.

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CREDITS: KNN India (The news article has not been edited by DFU publications staff).