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International 13-04-2023

BGMEA: Apparel exports, Jan-Mar 2023

13 April 2023, Mumbai

According to official statistics, apparel exports to major markets such as the USA, Germany, and Canada have experienced negative growth during the January-March period of 2023.

However, exports to the European Union (EU) increased by 3.69% in dollar values, with declines in Germany but growth in France and Spain.

Exports to other countries in the EU, such as Poland, Austria, Slovenia, Latvia, and Lithuania, declined year-over-year. Apparel exports to the USA also declined by about 16% year-over-year, while exports to the UK grew by 14.04% and exports to Canada declined by 2.36% during the same period.

On the positive side, apparel exports to non-traditional markets showed a significant rise of 39.25% growth, with exports to Japan, India, Australia, Turkey, Brazil, and South Korea showing year-on-year growth.

The BGMEA is actively working to explore new markets and implement policy reforms to simplify business processes and sustain long-term growth.

CREDITS: BGMEA Press Release.

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International 13-04-2023

BGMEA: July-March, FY2022-23 Apparel export performance

11 April 2023, Mumbai

This economic depression is likely to result in a slower recovery, which could impact trade and retail, particularly in the fashion industry. In light of these challenges, it is crucial for us to adapt our business strategies to cope with the turbulence. We need to allocate time and resources toward exploring new products, customers, and markets.

It is evident that the global economic situation is affecting our export growth, and we need to be proactive in addressing this issue. By identifying potential opportunities in new product lines, expanding our customer base, and exploring untapped markets, we can mitigate the impact of the economic downturn on our export earnings.

What all you need to know

It is essential to closely monitor market trends, customer demands, and global economic indicators to make informed decisions and adapt our strategies accordingly.

Additionally, we need to closely collaborate with stakeholders, including buyers, suppliers, and retailers, to find innovative solutions and overcome the challenges posed by the current economic environment. This may include exploring alternative sourcing options, diversifying our export destinations, and strengthening our supply chain resilience.

In conclusion, while the export growth for RMG in Bangladesh has shown positive year-over-year growth for July to March in FY2022-23, the recent decline in export earnings in March 2023 highlights the challenges posed by the global economic depression and rising inflation.

To navigate through these uncertainties, we need to be proactive in adapting our business strategies, exploring new opportunities, and collaborating with stakeholders.

By doing so, we can mitigate the impact of the economic downturn and continue to thrive in the competitive global market.

CREDITS: BGMEA Press Release.

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International 11-04-2023

Sequins Apparels Sales

04 April 2023, Mumbai

The factors driving the demand for sequin apparel, as well as the outlook for the US, Canada, and Europe markets. Additionally, you provided a list of key manufacturers and suppliers of sequins apparel, as well as their strategies for growth.

Sequins apparel trendy, glamorous, and in-demand fashion statement.

It is worth noting that while the companies listed are prominent players in the sequins apparel market, there may be other manufacturers and suppliers that are not included in the list.

Additionally, the COVID-19 pandemic has had an impact on the global economy, including the sequins apparel market. The pandemic has disrupted supply chains, decreased consumer demand, and resulted in changes in consumer behavior. These factors may affect the sales and growth of the market in the short term.

Overall, the factors driving the demand for sequin apparel are expected to continue to fuel the growth of the market in the long run.

As the market continues to evolve, it will be interesting to see how manufacturers and suppliers adapt to changing consumer preferences and behavior, as well as the impact of new technologies and sustainability concerns.

CREDITS: Report by Future Market Insights

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International 04-04-2023

Bangladesh Garments Executives Association (BGEA)

16 March 2023, Mumbai

Bangladesh Garments Executives Association (BGEA)

A platform meant and designed to serve the interests of the executives working in Knit, Woven, and Sweater factories, etc in the larger interest of the growing apparel sector and the significance it assumes in Bangladesh's national economy.
DFU Publications had a quick interaction with Mrs. Jannatul Ferdous Nipa, Director on the sidelines of the 3rd GLOBAL TEXTILE CONCLAVE (GTC) currently underway at Jaipur, Rajasthan (India) find here the excerpts of the same:

As the Vice President of the Indian Importer Chamber of Commerce and Industry, it is my pleasure to be here today to discuss the potential for collaboration between India and Bangladesh in the textile industry.

Bangladesh is the second largest market for garments and has many green factories that maintain sustainability. India, on the other hand, is a closer and more competitive market for raw materials such as cotton, yarn, fabric, and accessories.

Our main focus is on sustainability through collaboration, which is why we want to build a strong relationship between the two countries. Last year, we organized an event in Bangladesh and learned that they are targeting $40 billion in exports of garments, which require a lot of raw materials.

We see this as a huge opportunity for collaboration between the two countries.

Furthermore, I would like to emphasize that the Indian Importer Chamber of Commerce and Industry is open to collaborating with Bangladesh and India to expand marketing opportunities in the Asian market. We can work together to make this happen and provide a strong market presence for both countries.

While China may be more aggressive towards Bangladesh, India is a closer and more competitive market for raw materials. Our lead time is shorter, which means we can access these materials faster than from other countries. Additionally, India is a competitive market for prices, making it a viable option for our materials.

In conclusion, I believe that collaboration between India and Bangladesh in the textile industry can be very fruitful.

Our chamber is open to collaboration, and we welcome anyone interested in expanding their marketing opportunities to join us. Together, we can create a strong market presence in the Asian market and beyond.

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International 16-03-2023

Texworld Evolution Paris

06 April 2023, Mumbai

Texworld Paris Celebrates its 25th Anniversary! The upcoming edition of Texworld Evolution Paris, scheduled for July 3-5, 2023, will be a special milestone as it marks a quarter-century of this esteemed event. For the first time, Texworld Evolution Paris will be held in downtown Paris, specifically at the Porte de Versailles Exhibition Centre.

With 1,300 exhibitors from nearly twenty countries already confirmed, this anniversary edition promises to be a grand gathering for buyers and exhibitors alike.

The summer trade fair for the fashion industry will once again bring together all the components of Texworld Evolution Paris, including Texworld, Texworld Denim, Apparel Sourcing, Avantex, and Leatherworld Paris.

This edition is set to be the largest event since the end of the Covid-19 health crisis, with over 1,300 manufacturers expected in Hall 1 of the Porte de Versailles Exhibition Centre, representing a significant 40% increase in participation compared to last February.

Chinese manufacturers are almost back to their pre-crisis level, with the number of exhibitors doubling at Apparel Sourcing Paris and showing a strong increase at Texworld Paris.

Manufacturers from India, Turkey, Korea, and Taiwan have also confirmed their attendance, reflecting the positive results of the winter session and the eagerness of exhibitors to maintain close contact with the market.

The 25th anniversary of Texworld Paris will be a special occasion with a range of special events, entertainment, and innovative services for visitors.

The T-Club area will enhance its business-oriented services to exhibitors and visitors, while Avantex Paris will also reinvent itself with a Hub dedicated to innovative solutions and companies, including performance textiles, sustainable fashion solutions, and Web3 players, all present at the Porte de Versailles.

In addition, Texworld Paris will also serve as a strategic meeting point for the fashion industry, as it shares two days in common with Curve and Interfilière Paris, organized by WSN Développement, which are the go-to events for professionals in the lingerie, loungewear, swimwear, and activewear community.

These shared dates and news will create an expanded fashion platform and promote collaboration and synergy among industry professionals.

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International 06-04-2023

ITME Africa & M.E.: Nov 30-2nd Dec, 2023

01 April 2023, Mumbai

The 2nd edition of ITME Africa & M.E. will be held at the Kenyatta International Convention Centre in Nairobi, Kenya, from November 30th to December 2nd, 2023.

With the theme of "Prosperity through Textile Technology & Engineering," this exclusive business event offers a unique gateway to the emerging textile industry of the African continent and the Middle East.

ITME Africa & M.E. 2023 catalyzes transforming the textile industry of Africa and the Middle East in the coming decades.

By providing unlimited opportunities for business, sourcing, collaboration, and investment in the textile, textile engineering, ancillary, and allied industries, this event aims to drive growth and prosperity throughout the region.

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International 01-04-2023

Toys ‘R’ Us forced to close new store due to legal issues

15 March 2023, Mumbai

Toys ‘R’ Us, the American toy and clothing retailer, faced legal complexities with the mall owner and was forced to close a store it had opened in Hyderabad within 24 hours, according to sources.

The store, located in the Sarath City Capital Mall, opened on March 11 but was closed the next day. The mall is said to have pulled the plug on Toys ‘R’ Us due to a no-compete clause with another global toy retailer, which already had a shop in the mall. The clause prevented the two competing toy retailers from operating in the same mall.

Toys ‘R’ Us has launched in India in two formats, as Toys ‘R’ Us, the world’s leading toy store, and Babies ‘R’ Us, a one-stop destination for baby essentials. It is run by Ace Turtle, a Bangalore-based firm that entered into a joint venture with the Flipkart Group’s wholesale entity in India to acquire the licence for Toys ‘R’ Us and Babies ‘R’ Us in June 2021.

This is not the first time that Toys ‘R’ Us has attempted to enter the Indian market. In 2017, it teamed up with Tablez India, a division of Abu Dhabi-based Lulu Group International, for an exclusive master franchise agreement.

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International 15-03-2023

Toys ‘R’ Us forced to close new store due to legal issues

BGMEA: Government Grants 4 New Land Customs Ports for Raw Material Imports

05 April 2023, Mumbai

On 21 December 2022, the National Board of Revenue (NBR) of the Government of Bangladesh issued a gazette that permits the import of yarns from India through four new land customs ports, namely Bhomra of Satkhira, Sonamasjid of Chapainawabganj, Darshana of Chuadanga, and Banglabandha of Panchagarh.

The semblance is that Bangladesh is ticking boxes right at this moment building its competitiveness in the global textile industry.

Previously, the Benapole land customs port was the only point of entry for yarn imports from India. This decision is critical for the readymade garment industry as it depends heavily on imported raw materials, especially cotton, and yarn, with India being the primary source.

Until now, 80% of the trade between Bangladesh and India was handled through Benapole port alone, which was a significant bottleneck due to its limited capacity.

Furthermore, the government has waived the restriction on partial/multiple shipments while importing raw materials through Benapole port.

This will bring greater flexibility, reduce warehousing costs, and improve supply chain management, thus, bolstering the growth of the RMG exports and the bilateral trade between Bangladesh and India.

It is worth noting that India is the largest producer of cotton and the second-largest producer of Manmade Fibre and Filament globally, making it a critical source for Bangladesh's growing need for raw materials. This move will reduce congestion, enhance efficiency, and potentially decrease transportation costs, ultimately reducing lead time in export and improving competitiveness.

As India is also a potential market for Bangladesh's RMG, the opening of new ports will improve the efficiency of exporting goods to different parts of India, especially the Northeast.

In 2022, Bangladesh's RMG exports to India reached US$898.33 million, up from US$438.21 million in 2018. The neighboring country is also an emerging economy with a sizeable population and rising middle-income group, which presents a potential fashion market.

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) played an active role in advocating for this policy reform by engaging with the government. The Ministry of Commerce and the NBR deserve gratitude for this critical decision.

The government is currently working to enhance the infrastructure and administrative capacity of all land customs ports, including building road and rail networks and warehousing capacity.

There is also significant development work ongoing in Benapole Port to establish warehouse facilities.

CREDITS: BGMEA source

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International 05-04-2023

EU market 2012-22: Apparel import

31 March 2023, Mumbai

The latest data on the European Union's (EU) apparel import statistics and trends, here are a few analyses:

Bangladesh and China remain the top two apparel import sources for the EU: The EU's apparel import from Bangladesh grew significantly in 2022, making it the second-largest apparel import source for the EU after China. China still holds the top spot with a 29.24% share of the EU's total RMG import.
Import growth from top sourcing countries: The EU's imports from Turkey, India, and Vietnam grew significantly in 2022, with Turkey being the third-largest source of apparel imports for the EU. Additionally, imports from other top-sourcing countries such as Cambodia, Pakistan, Morocco, Sri Lanka, and Indonesia also saw positive growth.
Annual growth trends: Over the past ten years (2012-2022), the value of the EU's apparel import from Bangladesh has grown by an average of 9.15% annually, while their import from the world has shown a 3.17% average annual growth. China's import growth has been relatively stagnant during this period.
Negative annual growth for Indonesia: Among the top ten apparel-supplying countries in the EU, Indonesia is the only country that has shown negative annual growth.

Overall, the EU's apparel import trends indicate that Bangladesh and China remain the top two apparel import sources, while there is significant growth potential from other countries such as Turkey, India, and Vietnam.

CREDITS: BGMEA

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International 31-03-2023

Bangladesh Apparel exports: Jan-Feb 2023 Country-wise

13 March 2023, Mumbai

According to the data published by The published data of Bangladesh RMG exports by the Export Promotion Bureau, showed a growth of 10.12% in the first two months of 2023 Vs the corresponding period in 2022.

Not surprisingly many of the European Union accounted for the largest export destination for Bangladesh. The export to the EU was US$ 4.22 billion, showing a year-on-year growth of 8.42%.

Albeit, in the EU region few nations, such as Germany, Austria, Bulgaria, Denmark, Finland, Latvia, Malta, Poland, and Slovenia, showed negative growth traction.

Export to the U.S.A. and Canada downtrend by 13.79% and 3.49%, respectively, during the aforementioned period. Although, the export to the UK showed 21.63% year-on-year (Y-o-Y) growth traction, reaching US$ 964 million.

The country's export to non-traditional markets rose by 42.51% to US$ 1.64 billion, and Japan was the top-notch export destination with US$ 321.12 million. Other non-traditional markets, like Australia, India, South Korea, Turkey, and UAE, also showed an impressive upward trend, while exports to these countries were soft to Russia, China, South Africa, and Chile as exports shrank here.

Considering the global macro economy is unstable amid global turmoil, deeply impacting retail sales and resulting in downward/negative growth in some key consumption markets. This trend is likely to sustain for some time, making the coming months challenging.

Today it is business imperative for Bangladesh to explore new opportunities/non-traditional markets and concentrate on resource/cost optimization building efficiencies to tide over unprecedented times.

It's worth noting that despite the global geopolitical tensions and predicted economic slowdown, the RMG industry in Bangladesh is showing some promising signs of growth.

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International 13-03-2023

HKTDC Launches Seven Lifestyle Events

04 April 2023, Mumbai

Hong Kong, a cultural and creative hub that attracts innovative ideas and design talents, is experiencing rapid development in various industries, including fashion, lifestyle, product design, and licensing, driven by the increasing demand of sophisticated consumers for excellence, innovation, and quality of life.

The Hong Kong Trade Development Council (HKTDC) is organizing a series of exhibitions and conferences this spring, including the Hong Kong Gifts & Premium Fair, Home InStyle, Hong Kong International Home Textiles and Furnishings Fair, Fashion InStyle, Hong Kong International Printing & Packaging Fair, Hong Kong International Licensing Show, and Asian Licensing Conference, which will run from 19-22 April at the Hong Kong Convention and Exhibition Centre.

The HKTDC is committed to promoting creative and design industries and developing Hong Kong as Asia's city of culture and creativity. This year, the HKTDC has gathered several large-scale exhibitions in April to strengthen cross-industry and cross-field cooperation, creating greater synergy in the industries.

The exhibitions attract over 3,800 exhibitors from 23 countries and regions, with 70% being non-local exhibitors who will participate in person. The HKTDC has invited buyers from 50 countries and regions, including Mainland China, Japan, South Korea, ASEAN, India, the Middle East, Germany, France, and the United States.

The fairs will feature several themed zones, including the Zhejiang Pavilion, which will debut at the Home Textiles and Furnishings Fair, offering unique products from various provincial cities under the Zhejiang Ingenuity: Culture and Quality theme.

The Gifts & Premium Fair and Home InStyle will feature a brand-new Cultural & Creative Corner, promoting designer brands and products with unique styles, while Home InStyle will feature a first-time participant, the Industrial Designers Society of Hong Kong (IDSHK), featuring 12 exhibitors and presenting multiple design-led crossover product series from the ReMIX Program, covering lifestyle items, accessories-decorations, electronic devices, furniture, and household essentials.

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International 04-04-2023

Bangladesh Eases Fumigation Requirements, Boosts U.S. Cotton Imports

23 March 2023, Mumbai

The Ministry of Commerce of the Bangladesh Government has announced easing the rules for mandatory fumigation tests for importing cotton from Western Hemisphere nations or regions, particularly from the United States. Resulting clearly in the time reduction, hassles, and in turn cost of doing business for importers in Bangladesh, and in effect the competitiveness of the country's cotton industry at a time when there is a growing ambition of the country to hit USD 100 Billion exports in the coming years.

An interesting data point is that Bangladesh is the third-largest apparel import source for the USA and, that the value of USA apparel imports from Bangladesh has been gradually rising over the past 10 years. The recent growth in USA's RMG imports from Bangladesh after the pandemic is particularly commendable.

It is laudable that BGMEA is actively interacting/engaging with the American Apparel & Footwear Association (AAFA) on varied issues to make trade between Bangladesh and the USA easier.

The MoU (Memorandum of Understanding) signed between BGMEA and AAFA to improve competitiveness and facilitate trade access to the US market is a big plus. As today Bangladesh is in a good place, the proposal to replace conventional labeling with digital labeling is also a timely idea as it will lessen manufacturing costs and ensure greater transparency and traceability of products.

Overall, it seems that The semblance is that Bangladesh is ticking boxes right at this moment building its competitiveness in the global textile industry and consolidating its leadership status and in particular trade relations with the USA.

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International 22-03-2023

Bangladesh: Apparel export key items

11 March 2023, Mumbai

Historical background

In 2022, Bangladesh has set a new milestone of USD 45.70 billion RMG export. As per BGMEA analysis, Bangladesh’s RMG export has increased by 27.64% in 2022 compared to 2021.

Based on the provided data, it appears that Bangladesh's apparel industry has performed well in recent years, particularly in the 6-digit HS-code level of the top 31-60 apparel products.

Breakdown of apparel exports pie

The export earnings from these 30 items increased significantly in 2022, reaching USD 4.28 billion, which represents a 59.25% increase from 2021.

The stack of exports is," Highest exportable apparel item for Bangladesh in 2022 was men's or boys MMF woven overcoats, followed by men or boys non-cotton woven shirts and women or girls cotton knitted blouses.

Whilst, the export of men's or boys' non-cotton woven shirts grew by 88.57% in 2022 Vs. corresponding to last year, whereas the export earnings from women's or girls' cotton knitted blouses rose by a robust 50.63% in the same period.

An interesting data point however is that Bangladesh exported USD 216.49 million worth of cotton-knitted babies' garments in 2022, which is something unusual in the country's apparel/clothing industry".

Macroeconomic variables

Bangladesh's apparel industry sustainably is maintaining its leadership to be a leading player in the global market, and its exports are growing steadily in certain apparel product categories.

But the country has its own set of challenges & threats such as labor rights issues and environmental concerns, which must be addressed to ensure sustainable growth in the industry.

CREDITS: Source BGMEA press note

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International 11-03-2023