09 September 2022, Mumbai:

VF Corporation & Redress, HK announce the 2022 winner of the world’s largest sustainable fashion design competition, the Redress Design Award.

The judges commented on the strength of the designers this year, making choosing a winner even more difficult. The judges were impressed by the finalists’ creativity, problem-solving, and ideas, as well as their dedication to advancing sustainability and circular design.

VF Corporation and Redress Reveal 2022 Winner of World’s Largest Sustainable Fashion Design Competition Winner Will Collaborate with Timberland on a Special Design Project.

The winner, Federico Badini Confalonieri, will gain the opportunity to work with VF Corporation’s Timberland team and collaborate on a special sustainable design project that advances the brand’s vision for a greener future.

We want to equip talented next-generation designers with the tools and experience needed to further develop innovative circular solutions,” said Sean Cady, VF’s Vice President, Global Sustainability and Responsibility, who served as a judge for the second year running.

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01 September 2022, Mumbai

GOME Retail In 1H 2022 consolidated gross profit margin significantly increased to 19.8%, Cash flows from operating activities improved significantly and positively.

Focused on the core business and creating a new profit model Technology-empowered business transformation.

GOME Retail Holdings Limited (HKEX Code: 493. HK, "GOME" or "the Company", and together with its subsidiaries, "the Group")announced its unaudited interim results during the six months ended 30 June 2022 (the "Reporting Period").

 In 1H of 2022, the sales revenue of the Group was approximately RMB12,109 million, and the consolidated gross profit margin was approximately 19.81%, increasing substantially by 5.56 percentage points as compared to the corresponding period last year.

The Group's operating expenses were approximately RMB4,839 million, which decreased by 3.10% as compared to the corresponding period last year.

The Group's loss attributable to the owners of the parent was approximately RMB2,966 million.

During the Reporting Period, the Group's cash flows generated from operating activities had significant improvement over the corresponding period last year, achieving a positive net inflow of RMB55 million.

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23 August 2022, Mumbai

THE PRIMARY EXHIBITION FOR YARNS & KNITWEAR.

39th session SHANGHAI special session → SPINEXPO HANGZHOU will take place 28-29-30 August 2022 Autumn Winter 2023-24.

The leading international industry sourcing exhibition dedicated to innovation in yarns, fibres and knitwear.

Venue: Hangzhou International Expo Center.

CREDITS: SPINEXPO HANGZHOU Website

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07 September 2022, Mumbai:

As per official BGMEA report," During July-May, 2021-22 our RMG export to the European Union reached US$ 19.30 billion, with 33.06% growth compared to the same period of previous fiscal year. Export to almost all the EU markets including Germany, Spain, France, Poland, and Italy showed positive growth during this period.

Particularly, as per BGMEA, our export to Germany grew by about 27% with an amount of US$ 6.51 billion during the mentioned time. Export to Spain and France showed 37.83% and 34.93% growth respectively. Other countries in EU region having high growth were Slovenia 66%, Greece 62 %, Hungary 61.26%, Poland 46.78% and Romania 46.39%.  

Our apparel/RMG export to U.S.A. stood US$ 8.14 billion in July-May, 2021-22 with 52.54 % Y-O-Y growth. At the same time, export to U.K. and Canada reached US$ 4.09 billion and US$ 1.18 billion, with 29.16 % and 32.72% growth respectively.

During the first eleven months of FY 2021-22, our apparel export to non-traditional markets grew by 24.54% to US$ 5.79 billion from US$ 4.65billion in the corresponding period of previous year. Among the non-traditional markets, export to Japan reached US$ 999.97 million dollars with 15.27% growth.

Our export to India also increased significantly by 66.36%, which is US$ 647.27 million. On the other hand, export to China has declined by 18.64%, and reached US$ 199.60 million.  Other countries with significant growth were Chile 124.33%, Mexico 77.29%, Turkey 57%, South Korea 31.16%, and UAE 25.05%.  

However, the growth figures in recent months cannot be misjudged and over generalized as the advanced economies are clearly heading toward economic recession. Inflation in EU and USA has crossed records. Euro is losing value against US dollars. Both global trade and economic growth forecasts by a recent report by the World Bank depicts depressive picture. So while we need to be optimistic about our trade and industry, we need to make cautious steps".

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31 August 2022, Mumbai

RX Japan was established in 1986.

Its management philosophy is "to contribute to the development of various industries and the revitalization of the Japanese economy by creating exhibitions where exhibitors and visitors can engage in serious business discussions", and we have been making every effort to achieve this goal. Make Japan the business hub for the industry by organizing exhibitions.

RX Japan Ltd. is a part of RX, a global enterprise based in 22 countries/regions around the world.

Japan has eased border restrictions, and business travellers from most countries can enter Japan with NO on-arrival COVID-19 test and NO quarantine.

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11 August 2022, Mumbai:

Burberry receives SBTi approval for the net-zero emissions target.

Burberry is the first luxury fashion brand and one of the first companies globally to receive approval from the Science Based Targets initiative (SBTi) for its net-zero emissions target.

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This validation confirms that the goals Burberry has set to reach net-zero emissions by 2040 are based on the latest climate science and meet the urgent need to keep warming to 1.5°C in line with the Paris Agreement. Burberry’s net-zero target is underpinned by a series of commitments across scope 1, 2, and 3 emissions.

In the near term, we commit to reducing absolute scope 1 and 2 greenhouse gas (GHG) emissions 95% by 2023 from a 2017 base year and reduce absolute scope 3 GHG emissions by 46.2% by 2030 from a 2019 base year.

In the long term, we commit to maintaining at least 95% absolute scope 1 and 2 GHG reductions from 2023 through 2040 against an FY2017 base year, while reducing absolute scope 3 GHG emissions by 90% by 2040 from a 2019 base year.

Scopes 1 and 2 cover emissions generated from Burberry’s own operations.

Caroline Laurie, VP of Corporate Responsibility, Burberry: “The Science Based Targets initiative (SBTi targets) plays a critical role in ensuring ambitions set by businesses are in line with the latest climate science and will contribute to tackling the climate emergency.

Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative (SBTi companies): “Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change.

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26 August 2022, Mumbai

Gap Inc. (NYSE: GPS), a portfolio of purpose-led, billion-dollar lifestyle brands including Old Navy, Gap, Banana Republic, and Athleta, and the largest specialty apparel company in the U.S., today reported financial results for its second quarter ended July 30, 2022.

“This is a pivotal moment in time. While we search for a new leader, I am taking on the role of Interim President & CEO of Gap Inc. with a deep commitment to the company’s success and impatience for change.

Having navigated the global retail industry across brands and markets, I am not approaching this work from the sidelines,” said Bob Martin, Executive Chairman and Interim CEO, Gap Inc. “We are taking actions to better optimize profitability and cash ow in the near term, reducing operating costs as well as impairing unproductive inventory.

Mr. Martin continued, “Gap Inc.’s iconic brands, powerful assets, well-established values, and scaled Omni-platform are central to our strategic direction.

Net sales of $3.86 billion, down 8% compared to last year.

Comparable sales were down 10% year-over-year.

Online sales declined 6% compared to last year and represented 34% of total net sales.

Store sales declined 10% compared to last year.

The fiscal Year 2022 Outlook

“We have four strong brands and leverage in the portfolio to deliver over the long-term, however, our recent 3 execution challenges combined with the uncertain macro trends requires us to manage the levers in our control and take the actions necessary to drive improvement across our entire business,” said Katrina O’Connell, Executive Vice President and Chief Financial Officer, Gap Inc.

“In the near-term, we are taking actions to sequentially reduce inventory, rebalance our assortments to better meet changing consumer needs, aggressively manage and reevaluate investments, and fortifying our balance sheet.

While we have work to do, we believe these are the right initial steps to position Gap Inc. back on its path toward growth, margin expansion, and delivering value for our shareholders over the long term.”.

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09 August 2022, Mumbai:

Gucci has become the first major brand to start accepting payments in the form of the Bored Ape Yacht Club-affiliated ApeCoin (APE).

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The move towards crypto by the Gucci brand comes notwithstanding the cryptocurrency industry is living up to its legendary volatility.

As of now, Gucci will accept ApeCoin in US stores and plans to expand that reach across the rest of its North American presence. Apecoin's price has soared from nearly $6 on August 2 to $7.4 on August 9.

(ET report)...The news article has not been edited by DFU Publications staff.

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02 September 2022, Mumbai

ABOUT IATF

With 13 successful editions, the International Apparel & Textile Fair has evolved as a leading brand in the MENA region to source and showcase the best in textiles, fabric, footwear accessories, and print from renowned mills across the globe.

The UAE's Exclusive Sourcing Fair is back after 13 successful editions from 28-30 November 2022! 

Three days of interactive speakers forum, unparalleled exhibits and collections, and networking opportunities that bring the best from the global textile industry.

Over 13 editions, IATF has garnered support from some of the world's leading Associations and Consortiums.

Exhibitors are mainly from Europe, India, China, Indonesia, Japan, Turkey, and various highly renowned manufacturing countries across the globe.

(IATF website report)

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24 August 2022, Mumbai

Burberry reveals its Autumn/Winter 2022 campaign, capturing the power of community as models come together in their individuality. Spotlighting the collection’s themes of belonging under the bright LA sun, the bold images and film harness the power of self-expression to forge togetherness.

Building upon the house’s code of duality, the campaign is a study of different identities. Elevated studio shots for the womenswear collection and candid outdoors shots for the menswear collection come together to present daring recombination of distinct Burberry codes and a fresh proposition for the future.

Burberry’s Chief Creative Officer Riccardo Tisci reconnects with the photography duo and friends of the brand Inez and Vinoodh to further explore his avant-garde approach to the house, whilst stylist Lotta Volkova brings definition and a new perspective to the attitudes expressed throughout the collections.

Across womenswear, waxed cotton coats and field jackets are presented alongside vintage-inspired floral lace corset tops in candy pink and red with matching pleated skirts, black leather bodysuits, and skirts.

The Lola bag also features in the campaign, celebrating the heritage of the brand and its founder, Thomas Burberry.

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08 August 2022, Mumbai:

Tuesday – 16th August
9 am São Paulo, 12 am GMT , 8 pm Beijing

Abrapa (the Brazilian Cotton Growers Association), together with ApexBrazil (the Brazilian Trade and Investment Promotion Agency) and Anea (the Brazilian Cotton Shippers Association) invite you to the "Cotton Brazil - 13th Brazilian Cotton Conference" online event.

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Challenges and Perspectives for the Brazilian Cotton on Global Scenario: Analyzing the global market and relations to Cotton Brazil.

The conference will discuss the challenges and perspectives for Brazilian cotton in the current global scenario, bringing valuable insights and implications to your market.

The brazil cotton association event outlining Brazilian cotton quality will be held in English and offered to international guests only.

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