The Synthetic & Rayon Textiles Export Promotion Council

MARKET WATCH 3RD MARCH 2021

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INTERNATIONAL

Cotton yarn prices gain sharply on surging cotton rates, demand

Cotton yarn prices have elevated sharply in India for the reason that starting of this year in view of a surge in cotton prices, in addition to home and export demand.

“Prices of the 30s combed yarn used by the hosiery sector have been raised by 30-40 per cent by export merchants in Gujarat over the last few weeks. They are quoting the yarn at ₹274 a kg. Prices were ₹245 in January,” stated a Rajkot-based dealer of uncooked cotton, yarn, and spinning waste, Anand Poppat.

With demand for cotton yarn being good, at the very least two months of production of a number of the spinning mills has been bought out.

“If you want cotton yarn, you can expect to get supply only late in April or May. If you are lucky, you can get some quantity for March from mills that haven’t sold all their production,” Poppat stated.

According to Trading Economics Website, cotton has gained over 13 per cent for the reason that starting of 2021, with prices rising almost 10 per cent in February.

Global cotton prices are seen spiking this advertising season (August 2020-July 2021) in view of production projected at a four-year low, greater imports by China and decrease carry ahead shares.

“Cotton prices in New York have increased from around 51.44 cents a pound in June last year to around 89.2 cents by February-end. The rise has come despite the country carrying over record stocks of cotton from last season (October 2019-September 2020),” stated Southern India Mills Association (SIMA) Chairman Ashwin Chandran.

SIMA is the apex physique of the textile trade in south India, representing the sector’s curiosity. According to the Cotton Association of India, a physique of merchants, a record 107.50 lakh bales (of 170 kg) shares have been carried over from final season.

According to the Committee on Cotton Production and Consumption (CCPC), a physique arrange by the Centre and comprising all stakeholders within the trade from farmers to end-users in addition to government officers, 102.95 lakh bales have been carried over from final season.

With prices dropping a tad through the weekend, cotton prices in New York quoted at 88.48 cents a pound ( ₹51,300 per sweet of 356 kg roughly).

According to the Cotton Association of India (CAI) and Gujarat Cotton Trade Association, India’s benchmark Shankar-6 cotton is obtainable for exports at just a little beneath ₹48,000 a sweet.

On Monday, cotton futures for supply in April dominated 1.17 per cent decrease at ₹22,460 a bale or ₹47,033 a sweet on the Multi Commodity Exchange.

The Cotton Corporation of India (CCI), which is holding big shares of cotton following procurement underneath the minimal assist price (MSP) programme, can be quoting across the identical degree for exports.

As the textile sector started working at close to optimum capability, demand for yarn elevated since December 2020. This resulted in greater yarn production, however prices have elevated, primarily, as cotton prices gained.

“The percentage of increase in yarn prices is lower than the rise in cotton prices. And prices have actually dropped from the peak seen a few days ago,” the SIMA Chairman stated.

For instance, the 40s depend warp yarn topped ₹300 a kg however has now dropped to ₹275-285. Hosiery yarn prices are nonetheless decrease.

“Yarn prices are expected to be raised again from March 1. It will become difficult for small and medium players in the hosiery sector,” stated Textile Exporters Association (TEA) Executive Secretary S Sakthivel.

Besides home demand, which has resulted in panic shopping for, export shopping for has additionally pushed up yarn prices.

“China is buying a good quantity. Its purchases have increased 15-20 per cent,” dealer Poppat stated.

“Besides China, Bangladesh, Peru and Brazil are also importing Indian yarn,” stated Sakthivel.

“Despite increased demand, yarn exports don’t even top 100 million kg a month currently,” a textile trade supply, who didn’t want to establish.

According to data from the Director-General of Commercial Intelligence and Statistics, yarn exports dropped to 959 million kg in fiscal 2019-20 in contrast with 1,313 million kg throughout 2013-14.

In phrases of worth, yarn exports have dropped 5 per cent on a compounded annual growth fee (CAGR) foundation from $3.9 billion in 2014-15 to $43.four billion in 2017-18. The newest data usually are not out there but.

“If you look at the yarn-cotton correlation, which is 0.95, you will understand how much pressure spinning mills are under. The mills make only 2-6 per cent profit,” the textile trade supply stated.

Yarn prices started heading north after provides have been unable to match from December onwards. The mismatch cropped up as garment and material producers resumed production operations faster than the spinning sector.

This leads to the yarn stock with the spinning mills drying up, whereas the rise in cotton prices compounded the difficulty.

Textile trade sources stated that they had urged the Centre to make sure that the CCI, which had purchased almost 100 lakh or one-fourth of the entire cotton produced within the nation this season.

“But that has not happened and spinning mills are now shouldering the blame for the yarn price spike,” the sources stated.

CAI has estimated production unchanged from final year at 360 lakh bales, whereas CCPC has pegged it at 371 lakh bales in opposition to 365 lakh bales.

Traders estimate that CCI may very well be holding at the very least 65 lakh bales, after considering its gross sales of about 125 lakh bales to commerce and exporters.

“There is a demand for all types of yarn, from 16 counts to 60 counts,” stated Rajkot dealer Poppat.

“The problem for small and medium hosiery manufacturers is that they have already committed to buyers at a lower price. Even a 5 US cents spike will force buyers to opt out or shift to other countries,” stated TEA’s Sakthivel.

“Probably, Indian exporters, especially garment units, should try and link their contracts to the New York cotton index. On the other hand, they can even consider hedging the position,” the textile trade supply stated.

SIMA’s Chandran blamed the panic buy of yarn for the spike.

The textile trade sources concurred with the view, saying, “If the buyers can avoid panic purchases and go hand-to-mouth buying besides keeping quiet, they can expect prices to drop.”

According to the sources, the issue that spinning mills face is that they need to pay money for getting cotton. “At most, mills get 30 days credit. But mills offer credit from between 60 days to 90 days,” the sources stated.

Ratings company Ind-Ra stated that international cotton prices have additionally elevated as a result of curbs imposed on Xinjiang area (China) cotton by the US administration. This is benefitting Indian home spinners,” it stated.

Textile trade sources say that if the US eases the curbs, then prices might head south.

Source: NewswrapIndia

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Indian economy on ‘upswing’; govt set to spend more along with pro-growth reforms: Panagariya

India’s economy is on an “upswing” and the government’s plans for increased spending comes in the backdrop of pro-growth reforms, former Niti Aayog Vice Chairman Arvind Panagariya said on Tuesday even as he opined that it might take longer to become a USD 5 trillion economy due to the coronavirus pandemic-induced disruptions. In an interview to PTI, the eminent economist described the government’s decision to privatise two public sector banks next fiscal as an “unprecedented” effort to “finally right a wrong done 50 years ago”.

He was apparently referring to former Prime Minister Indira Gandhi’s move to nationalise banks. Panagariya, who is currently a Professor of Economics at the Columbia University, said the country’s GDP growth in October-December 2020 quarter returned to a hair’s breadth above its level a year ago. “At 0.4 per cent, the year-on-year growth in GDP may seem low but given the large negative growth during the preceding two quarters ((-)24.4 per cent during April-June and and (-)7.3 per cent during July-Sept), the quarter-on-quarter growth momentum is very strong,” he said.

According to him, there are signs that the government is clearing past arrears at an accelerated pace and has also provided for doubling of government expenditure in the current quarter over the same quarter last year. “These facts would help boost demand and give further impetus to growth at a time when the economy is on the upswing… So the news on the growth front is very encouraging,” he said. To a query on whether it will be feasible now for India to achieve the target of becoming a USD 5 trillion economy by 2024-25, he said that given the unexpected COVID shock, “we may have to wait a year or two longer”.

In 2019, Prime Minister Narendra Modi envisioned to make India a USD 5 trillion economy and global power house by 2024-25. The pandemic has hit the economy hard and the country’s GDP is projected to contract nearly 8 per cent in the current fiscal ending March. On whether he is in favour of reviewing the 2-6 per cent target inflation band, Panagariya said, “I would favour revising the target up by 1 percentage point”.

In the past, he said the Monetary Policy Committee (MPC) had been quite reluctant to let the inflation rate rise above 4 per cent even though it has the room up to 6 per cent and was quite comfortable with the inflation staying around 2 per cent. “Healthy GDP growth requires greater room for prices to adjust. Besides, enterprises draw up investment plans based on the growth of profits in nominal terms,” he said, adding that the government wants low inflation to protect the poor but what matters for the poor is food inflation over which the RBI has very little control.

The inflation target for the Reserve Bank of India’s MPC for the next five years starting April is likely to be notified around mid-March. The current medium-term inflation target, which was notified in August 2016, ends on March 31. On the government’s proposed asset reconstruction company and asset management company, Panagariya said, “one or the other way, we need a rapid clean up of NPAs”.

If the government can move swiftly to set up the bad bank and take out the bad assets from the bank balance sheets, it will be a major step in the right direction, he said. “If it (government) cannot do that fast, it should be prepared to recapitalise the banks on a much larger scale than currently provided.” Replying to a question on fiscal expansionism, Panagariya said if the government had chosen to only expand spending to boost growth, ratings agencies may have seen it unfavourably. “But the increase in spending has been proposed in the backdrop of a large number of pro-growth reforms, including a massive privatisation programme and creation of a “Bad Bank” to clean up NPAs,” he said.

Noting that the rating agencies look at what the government does holistically than focus on just one indicator such as fiscal deficit, he said, “I see no danger from the ratings agencies”. On agitation by farmers against the new farm laws, Panagariya pointed out that discussions on APMC reforms are now 20 years old and every central government since Prime Minister A B Vajpayee has promoted the reforms.

Source: The Financial Express

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Tiruchi’s industry looking for mini textile park!

In Tamil Nadu’s Tiruchi District, Tiny and Small-Scale Industries Association (TIDITSSIA) is trying to establish a mini textile park as a hub for apparel manufacturing units in Manapparai area.

The association is also looking at support for leading exporters of Tirupur.

As per the industry estimate, around 50 apparel manufacturers in the district have reasonable scale of operations.

It is pertinent to mention here that 3 years back too, the association had tried to set up this textile park, but couldn’t succeed.

Now the State Government is offering 50 per cent of the cost to create roads, a sewage treatment plant and a captive power plant. The trade body intends to make use of this subsidy to start small textile clusters/parks.

As per the State Government rules, ten entrepreneurs can form a cluster and set up a mini textile park on ten acres. They should buy the land and establish a minimum of ten work sheds to get the subsidy.

The mini textile park scheme has to be implemented through formation of a Special Purpose Vehicle.

It is being said that a mini textile park planned by the TIDITSSIA in Manapparai area will pave way for further development of the apparel manufacturing business in Puthanatham town.

R. Ilango, President, TIDITSSIA, said “We will be approaching representatives of textile sector in Tirupur shortly.”

The association sees the SIPCOT Industrial Estate coming up in Manapparai as an ideal location for the purpose, with a special focus on promoting export.

With good road and rail connectivity, a mini textile park in Manapparai will generate substantial employment in the town and surroundings.

Tirupur Exporters and Manufacturers Association (TEAMA) is also positive about this initiative and believes that the scope for a joint venture with TIDITSSIA will be explored.

Notably, TEAMA is already active in establishing a textile park in Nagapattinam district in about 50 acres of land at a cost of Rs. 120 crore.

Source: Apparel Online

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India’s policies trade-restrictive, Make in India epitomises challenges to trade relationship: US

The US has said that India’s general and consistent trend of trade-restrictive policies has inhibited the potential of the bilateral trade relationship.

In its trade agenda for 2021, Washington said that the recent Indian emphasis on import substitution through the Make in India campaign has “epitomized the challenges” facing the bilateral trade relationship though India’s large market and economic growth make it “an essential market” for many American exporters.

“While India’s large market, economic growth, and progress towards development make it an essential market for many US exporters, a general and consistent trend of trade-restrictive policies have inhibited the potential of the bilateral trade relationship,” the United States Trade Representative (USTR) said in its annual report and trade agenda for 2021.

“Recent Indian emphasis on import substitution through a “Make in India” campaign has epitomized the challenges facing the bilateral  trade relationship,” it said.

The report comes at a time when India has said that the two sides will work on a greater engagement on the trade front instead of small issues.

As per the report, during 2020, the US continued its engagement with India to try to resolve “longstanding market access impediments” affecting its exporters.

Effective June 5, 2019, the US terminated India’s eligibility under the Generalized System of Preferences (GSP) programme, following which the two sides “resumed intensive work in the fall of 2019 aimed at producing a package of meaningful market access outcomes, and this engagement continued throughout 2020”.

Washington said its objectives in this negotiation included the resolution of various non-tariff barriers, targeted reduction of certain Indian tariffs, and other market access improvements.

“The United States also engaged with India on an ongoing basis throughout 2020 in response to specific concerns affecting the full range of pressing bilateral trade issues, including intellectual property (IP) protection and enforcement, policy development affecting electronic commerce and digital trade, and market access for agricultural and non-agricultural goods and services,” USTR said.

India’s barriers to US manufactured goods exports, including devices and high-technology products were also taken up last year, according to the report.

On the services front, New Delhi was Washington’s sixth largest supplier with exports worth $29.7 billion in 2019.

Source: The Economic Times

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ASW Marketplace’s B2B Matchmaking initiative fast gaining popularity

The much acclaimed ASW Marketplace-organised Vendor Meets, under the B2B Matchmaking initiative, has been fast gaining popularity.

This was distinct by the growing number of attendees at the recently concluded vendor meets, be it the one held by Ramesh Gunasekaran, Head Sourcing Easybuy, Max Retail Division, Landmark Group or the informative and engaging session with Jockey India.

The Jockey session, addressed by Wicrant Gambhir, Head of Sourcing, Page Industries Ltd., saw saw full house and active participation from many at the show.

In fact, some of the interesting questions from participants were the major attractions of both these meets.

Similarly, the recently concluded session by the buying office Ethical Sourcing too saw a huge response from the industry.

The session by Sanjay Thakur, Director Sourcing, Ethical Sourcing, saw him talk about new product categories and current business climate – much to the interest of participants.

The interest surged when Sanjay said that Ethical Sourcing was looking for vendors eyeing long-term relations in existing product categories.

The vendor sessions have been successful so far and ASW Marketplace is optimistic that not only will associations be forged, but also actual business will follow soon – all thanks to such meets under the B2B Matchmaking programme.

Notably, over 10 meetings have already been conducted and there are some more in the pipeline.

Source: Apparel Online

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CM Shivraj Singh Chouhan holds meet with Madhya Pradesh industrialists

Chief minister, Shivraj Singh Chouhan, has said that his government would extend all possible help to industrialists if they take initiative towards building an " atmanirbhar Madhya Pradesh". Chouhan was talking to a group of industrialists, who called on him on Sunday. He further said that MP has vast potential for investment in the fields of food processing, textiles, solar power and infrastructure development.

Chairman of Sagar group, Sudhir Kumar Agrawal, talked to the chief minister on establishing textiles and food processing units at Tamot in Raisen district. There will be investment of Rs600 crore in  the projects and 2,500 people would get jobs in the two units, he said.

Capt. Ishwar Dholakiya of Goldi Solar Pvt. Ltd. put the proposal to start a unit for manufacturing of solar cells for use in solar panels installed in solar power projects. MD, Pratibha Syntex, Shreyaskar Chaudhary and CEO, Netlink,  Anurag Chaudhary also interacted with the chief minister on  the occasion. Principal secretary, industrial policy & investment promotion, Sanjay Shukla and principal secretary in the CM secretariat, Manish Rastogi, were present during the meeting.

Source: The Times of India

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BRFL Textiles’ fabric production surges by 50% post funding

BRFL Textiles Private Limited (BTPL) has noted a boost of 50 per cent in its production at its Tarapur plant from 100,000 metres per day to 150,000 metres per day.

The rise in production has come after improved capacity utilisation within two months of raising private equity funding.

BTPL aims to reach its annual processing capacity of 144 million metres (400,000 metres per day) over due course of time.

Recently, BTPL completed Rs. 240 crore equity infusion from a consortium of marquee financial investors led by JM Financial India Fund II (an Indian growth private equity fund), Think Investments (a San Francisco-based investment firm) and others.

Speaking on expanding the capacity utilisation, Prashant Agarwal, Managing Director, BTPL, commented, “Over the years, the fabrics from our Tarapur plant have earned the trust of our customers for its superior quality and design innovation & uniqueness. With the influx of PE funds, our manufacturing capacities are now being further leveraged to expand our output and market presence.

We will continue to invest in people and maintenance capex to ensure that our state-of-the-art equipment at our plant is well oiled, efficiently run and complies with all regulatory standards. In serving our customers with timely deliveries of new-age fabrics and by supplying innovative designs, our Tarapur unit is poised to grow into one of the leading fabric processing houses in the country.”

It’s worth noting here that BTPL’s Tarapur plant is India’s largest single roof fabric processing unit supported by its captive power, effluent treatment, RO water and other utilities enabling cost competitiveness.

The state-of-the-art multi-fibre fabric processing unit also has a captive yarn dyeing unit with an annual capacity of 10.6 million kg (29 tonnes per day). The plant also employs over 2,000 people at the facility.

Source: Apparel Online

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KVIC's e-market portal promotes indigenous Indian products

The Khadi and Village Industry Commission’s (KVIC) foray into the online marketing segment has resulted in a gross turnover of over ₹1.12 crore in just eight months of the launch of its dedicated portal for the same. Launched on July 7 last year, Khadi e-portal has delivered orders to over 10,000 customers out of the 65,000 who visited the portal to date.

KVIC has also delivered more than a lakh articles and commodities to these customers, it claimed in a press release.

During this period, the average online purchase has been recorded at ₹11,000 per customer.

KVIC takes care of all logistics and infrastructure support like cataloguing, product photoshoot, maintaining online inventory and packaging and transportation of goods to the customers’ doorsteps. This reduces associated costs.

Khadi’s online sale, which started with just khadi face masks during the COVID-19 lockdown, has evolved into a full-fledged e-market platform with nearly 800 products.

The product range includes hand-spun and hand-woven fine fabric like muslin, silk, denim and cotton, unisex Vichar Vastra, trendy Modi kurta and jackets, a signature wrist watch, a variety of honey, herbal and green tea, herbal medicines and soaps, mustard oil, cow dung-cow urine soaps and a range of herbal cosmetics.

Source: Fibre2Fashion News

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FIEO seeks re-look at proposed Section 113(ja) in Customs Act

At the time of presenting the Union Budget, the government, besides altering the duty or tax rates that have a bearing on its revenue, proposes several amendments to the laws through the Finance Bill. Usually, these are changes the bureaucracy wants for plugging loopholes in tax collection and bringing about technical changes to cope with the emerging trends in legal interpretations and technological changes.

It is also for taking initiatives to make it easier to do business. Some of these changes are helpful. However, where the intent is to plug revenue leakage, the government seeks to introduce some restriction, prescribe harsher punishments for violations and give its officials more powers to deal with dishonest elements in the trade. The trade views these measures with suspicion and alerts the government to possible unintended consequences of the proposed amendments. This year is no different.

Clause 86 of the Finance Bill 2021 seeks to insert a new Section 113(a) in the Customs Act, 1962 to provide that any goods entered for exportation under claim of remission or refund of any duty or tax or levy, to make a wrongful claim in contravention of the Act or any other law for the time being in force, shall be liable to confiscation.

The Federation of Indian Export Organisation (FIEO) says that confiscation of goods for wrongful claim of refund/remission is particularly harsh as it will not only hurt exporters but also affect the country’s exports as well as its image.

Moreover, the word “wrongful claim” is subject to various interpretations and will put exporters at the mercy of field formations even if the remission rates are wrongly calculated or disputes about classification of the product under a particular rate arise.

The remission rates may be 2 per cent of the product value and for such a small benefit, the entire goods should not be confiscated. The FIEO has requested the government to re-look at the proposed Section 113(a) of the Customs Act, 1962.

Clause 87 of the Finance Bill 2021 proposes to insert Section 114C of the Customs Act, 1962.

It says that where any person has obtained any invoice by fraud, collusion, willful mis-statement or suppression of facts to utilize input tax credit on the basis of such invoice for discharging any duty or tax on goods that are entered for exportation under claim of refund, such person shall be liable for penalty not exceeding five times the refund claimed.

The FIEO is silent on this proposed change. Indeed, only a few can object to harsh measures against unscrupulous elements in the trade. However, many analysts have expressed serious concern that such harsh penalty may encourage the field formations to invoke this clause even in cases where genuine mistakes are made and no intent to defraud revenue is there.

The FIEO is especially worried about the proposed changes to restrict the facility of export of goods on payment of tax under the refund claim.

Challenges faced by the tax authorities should be discussed to find an amicable solution rather than dropping an excellent facility, says the FIEO.

Some restrictions and punitive measures are proposed in the goods and services tax (GST) laws also. As a rule, whenever the government gives more powers to its officials, genuine taxpayers have reasons to worry.

Source: The Business Standard

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Grunt Style to sell air, space forces' licensed apparel

Online lifestyle retailer Grunt Style has signed a contract with the United States Air Force and Space Force to sell their officially licensed apparel. With the new product line, Grunt Style now has licensed apparel for all five military branches of the department of defence. Customers can now choose from a selection of Air Force and Space Force t-shirts.

The agreement adds to Grunt Style’s wide selection of military licensed attire. Now, in addition to Army, Navy, and Marine Corps clothing, customers can choose from a selection of Air Force and Space Force t-shirts, ranging in size from small to 3XL, all made with 100 per cent cotton and printed in Carol Stream, Illinois. Everything comes with Grunt Style’s lifetime guarantee.

“Grunt Style was founded with a very clear mission: To instil pride in self, in military, and in country,” said Glenn Silbert, CEO of Grunt Style. “As part of that, it was important to ensure all branches of our armed forces are represented within our product line. With our new Air Force and Space Force apparel, we have options for everyone, no matter which branch of military they serve in or support. Our customers have been asking for this, and we’re proud to deliver.”

Additional officially licensed Space Force and Air Force prints and styles, including hoodies, will be added later this year.

Source: Fibre2Fashion News

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Retail sales slump 21.8% in January on lockdown

New Central Statistics Office figures show that the volume of retail sales decreased by 21.8% in January compared to December on a seasonally adjusted basis as the country went into another Covid-19 lockdown.

On an annual basis, retail volumes were 14.1% lower in January 2021 compared with the same month last year.

The volume of retail sales fell across all categories, with the exception of electrical goods which increased by 1.3% compared with December of the previous year. 

The CSO said the biggest fall in sales in the month were seen in bars, which sank by 75.1%.

Clothing, Footwear & Textiles sales slumped by 72.2%, while Furniture & Lighting sales were down 49%.

Sales of Books, Newspapers & Stationery were 47.9% lower in January compared to December, while Department Stores sales fell by 36.8%.

Meanwhile, car sales slowed down by 33.2% in January, while Fuel sales dropped by 22.4%.

Compared with January last year, the CSO said the volume of retail sales was lower 90.7% in bars, while Clothing, Footwear & Textiles sales were 68.4% lower.

Sales of Books, Newspapers & Stationery were down 52.9%, while Department Stores sales fell by 39.2%.

The Central Statistics Office said its figures show that the Covid-19 pandemic and the restrictions imposed as a result had a significant impact on the retail sector last year.

2020 saw the biggest seasonally adjusted monthly retail sales decrease in April, with a drop of 35.7%, during the country's first lockdown.

This was followed by a sharp recovery in May, with sales up 32.8% and by a jump of 41.4% in June as the country re-opened. 

The CSO said the percentage of online sales in Irish companies remained stable since records began in 2018 at between 2.5% to 4% prior to the impact of Covid-19. But in April, that figure rose to 15.3%. 

It also said that while overall retail sales fell in April, the closure of non-essential shops and outlets saw many consumers move online to purchase goods. As traditional shopping re-opened, the proportion of transactions online fell, it noted.

Source: RTE News

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IIM studies Sambalpuri handloom weavers' needs

IIM Sambalpur is working on a white paper to make a weaver producer company for Sambalpuri Handloom weavers in Odisha after it carried out a research project in Bargarh District to understand the needs of the community. The aim is to ensure fair price, better infrastructural facilities and access to digital technology and global market for weavers.

In an endeavour to preserve and promote the heritage of Sambalpur, IIM Sambalpur conducted the study project in the Bargarh District of Odisha to understand the need of the Sambalpuri Handloom weavers’ community, challenges faced, and interventions required for the development of the community. The project was sponsored by Mahanadi Coalfields Ltd, Burla.

The primary data was collected using a questionnaire survey conducted with five prominent weavers’ clusters - Barpali, Bheden, Bijepur, Bhatli, and Padampur. Fifteen weavers from each cluster were interviewed to assess their socio-economic condition, level of awareness, technological awareness, credit linkage, value chain, and major challenges faced by the weavers.

“During our conversation with the weavers, we came across the uniqueness of this rich textile craft. The work done on the handloom is very intricate and involves a 3-step process – Bandha (tie), Ranga (dye), and Bunakari (weaving),” IIM said.

All three processes were to be done by one person several years back, but in current times different communities of people do these activities. The design and effort involved decide the pricing of the products. All weavers are not equally skilled and cannot produce the same quality and design of the cloth. Power loom can achieve repetitive designs with a lesser cost, but it is difficult to identify the difference by end customers. Also, Bandha is purely manual work, cannot be achieved on a power loom.

According to the study, the major gaps in the entire ecosystem were - information asymmetry in the process. Weavers are unaware of the value chain; of various government schemes; subsidies, and other benefits. Raising awareness amongst weavers is the foremost concern.

There is no formal system of operation. Independent master weavers, agents, local traders form an informal parallel system. They consider this more convenient as agents pick up the products from their doorstep. With decent profit margins, master weavers sell the products to agents, who further sell to societies as Boyanika and Sambalpuri Bastralaya.

Some master weavers are of the view that if societies buy directly from them, the price of products will not be exceedingly high, and it will be beneficial both for weavers as well as consumers.

The study found that the entire process of weaving and marketing of Sambalpuri Handloom was unregulated. A little regulation from the government can be beneficial for all stakeholders. There is an ardent need to build trust between the weavers, master weavers, and the government. The need of the hour is to brand and promote Sambalpuri Handloom and look for export options. There exists a niche market for handloom products, we just need to tap it.

Moreover, consumer awareness on handloom and recognition of handloom weavers will raise their morale. Promotion of Sambalpuri handloom may also inspire younger generation of the community to learn the art and craft. An integrated approach and convergence and collaboration from various departments and public bodies will be an effective solution.

Sambalpuri Ikat is a revered textile craft celebrated across the globe. In India, it is said that this craft migrated to Western Odisha when the the Bhulia community came from Northern India and settled in Odisha, after the fall of Chouhan Empire at the hands of Mughals in 1192 AD. Since then, the Odisha weavers have been spinning their magic wand and creating enchanting weaves that are today globally celebrated. The age-old textile craft Sambalpuri Ikat/ Tie and Dye (locally known as Baandha) tags along a tedious process, where yarn clusters are dyed repeatedly in distinct hues and then woven into stunning fabrics, sarees, and dupattas.

Source: Fibre2Fashion News

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Malls may unveil Victoria’s Secret stores as early as next year

Victoria’s Secret, the premium lingerie and beauty retailer from the house of L Brands. is looking to launch stores in India. “They are asking for space in malls. The discussions were on hold due to Covid but the talks have resumed,” a source aware of the development told FE. The negotiations are preliminary and if the deal goes through, the company’s foray into the market may happen as early as next year.

US-based L Brands which operates its bath shop chain Bath & Body Works in India through franchise partner Major Brands is expected to explore the same arrangement for Victoria’s Secret, according to industry sources. Major Brands did not respond to FE’s queries. Victoria’s Secret’s bricks-and-mortar presence in India currently is restricted to a handful of airport stores.

“We do not have concrete information yet about the kind of outlet they will introduce here, whether it will only be a beauty store like the ones they have at the airport or if it will be a full lingerie store. If they only set up a beauty store, it will not be that exciting,” the source said.

The brand is setting the pitch for its India play even as the pandemic has crippled its business globally. Last year, Victoria’s Secret permanently closed 241 stores in North America and has projected to shut another 30 to 50 stores in the region. The sales impact of the 241 shut stores is estimated to be nearly $500 million, L Brands said in a statement last month. As the deal to sell a majority stake in Victoria’s Secret to private equity firm Sycamore Partners failed to take off, L Brands now plans to separate its Bath & Body Works and Victoria’s Secret businesses by August this year.

According to international media reports, Stuart Burgdoerfer, executive vice-president and chief financial officer of L Brands, at a recent earnings call said that the firm is pursuing a dual-path approach to the separation of Victoria’s Secret. “Dual-path meaning, looking at a spin option where Victoria’s would become its own public company and separately, a sale option where we would sell it to a third party,” Burgdoerfer said.

India with its young working class and rising disposable incomes is too lucrative a market for brands to overlook. The local apparel market is expected to grow to a Rs 5,700-5,800-billion opportunity by 2024 despite the pandemic-led year-on-year 27% decline in size in 2020, analysts at Boston Consulting Group (BCG) said in a recent report.

Entry of international brands is one of the factors that will fuel consumption, they said. The total retail segment is estimated to touch Rs 130-140 trillion by 2031-32.

A bunch of global brands are looking to expand their India presence. Ingka Group, the parent company of Swedish home furniture giant Ikea, for instance, recently announced the acquisition of a 48,000-square-metre land parcel in Noida for developing an Ikea store anchored retail shopping mall under its Ingka Centres business concept called Meeting Place.

Source: The Financial Express

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BRFL Textiles' fabric production up 50% post funding

BRFL Textiles Private Limited (BTPL), India's largest single-roof state-of-the-art fabric processing facility, has increased production at its Tarapur plant from 100,000 metres per day to now 150,000 metres per day as a consequence of improved capacity utilisation within two months of raising private equity funding. BTPL processes a wide range of fabrics.

BTPL aims to reach annual processing capacity of 144 million metres (400,000 metres per day) over due course of time. Recently, BTPL completed an ₹2.4 billion equity infusion from a consortium of marquee financial investors led by JM Financial India Fund II (an Indian growth private equity fund), Think Investments (a San Francisco-based investment firm), and others.

“Over the years, the fabrics from our Tarapur plant have earned the trust of our customers for its superior quality and design innovation and uniqueness. With the influx of PE funds, our manufacturing capacities are now being further leveraged to expand our output and market presence. We will continue to invest in people and maintenance capex to ensure that our state-of-the-art equipments at our plant is well oiled, efficiently run and complies with all regulatory standards.

In serving our customers with timely deliveries of new-age fabrics and by supplying innovative designs, our Tarapur unit is poised to grow into one of the leading fabric processing houses in the country,” BTPL managing director Prashant Agarwal said in a press release.

BTPL’s plant in Tarapur, Maharashtra, is India’s largest single roof fabric processing unit supported by its captive power, effluent treatment, RO water, and other utilities enabling cost competitiveness. The state-of-the-art multi-fibre fabric processing unit also has a captive yarn dyeing unit with an annual capacity of 10.6 million kg (29 tonnes per day). BTPL’s solid and yarn dyed fabric, printing, processing, and finishing techniques are a mark of excellence. Over 2,000 staff is employed at the plant.

BTPL has a strong presence in the B2B and B2C space alongwith long-standing relations with leading brands across the globe, and sells through large garmenters in India who also sell to domestic brands. On the domestic branded sales front, the distribution network of BTPL is spread across its own EBOs, over 100 distributors and over 8,000 retailers.

BTPL was formed as a separate entity in August 2020, as part of a restructuring process undertaken by Bombay Rayon Fashions Limited (BRFL), in which it hived-off its yarn dyeing & fabric processing units located in Tarapur, into BTPL by way of a slump sale on a going concern basis. The company’s brands, including Bombay Rayon, BRFL, Linen Vogue, Giza Classe, Dickens & Browne and others, were also a part of the transaction.

Source: Fibre2Fashion News

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Underlying economic growth themes

The latest growth numbers were perplexing in many ways. The headline growth at 40bps appeared lower than estimated average of 1% but that wasn’t about it. A deeper dive into the numbers intensifies some knowns and brings to the attention some unknowns. The standard caveats to growth numbers continues to apply- data collection is sampled and is often subjected to revisions. Yet I believe there are a few themes are unfolding and the recent numbers validate them.

1. K is turning out to be the winning alphabet– While we did have some alphabet soup on shape of recovery ranging from U,V, L to W, K is appearing to be the most predictable winner. Private consumption in Q3 contracted by 2.5% while topline of Autos+ consumer durables+ retail expanded by 10%+(atleast 6% in real terms). Quite unequivocally, it is the unorganized and informal sector that continues to be in pain. India’s exports might have flattened but labour intensive exports (Gems and Jewelry, textiles, leather etc) are still contracting. The much touted manufacturing is back into growth but again labour intensive component in IIP manufacturing is contracting by atleast 10%. As a result of continued shocks from demonetization to GST to Covid, not only is it contracting year on year, continuous contraction has severely affected the overall output levels.

2. Fiscal support is muddled- Both Government consumption expenditure and Public Ad & Defense have contracted in Q3. Then what happens to Central expenditure rising by 15% + in Q3? Clearly, while the Centre is spending more, the states’ and local bodies’ expenditure is decelerating. Infact, the spread between SDL and Gsec yields is whopping 150bps+, indicating that it might not be as easy for them to borrow their expenditure. This puts into question the overall optimism from a supposedly expansionary fiscal policy. Apr-Jan central government has spent about INR 25 tn of the budgeted INR 34 tn, will it spend INR 9 tn in the last two months or will it cut back on expenditure? From growth perspective, the complexion of expenditure matters more than the quantum.

3. Value addition will grow but headline number not so much: Given the CSO’ release and outlook, Gross Valued Added (GVA) will immensely outperform Gross Domestic Product (GDP) in Q4. This is owed to huge subsidy payments (GDP is GVA adjusted for taxes and subsidies). This explains the puzzle- if government expenditure is supposed to grow, why have the growth forecasts not been revised upwards? The answer lies in the complexion of the expenditure, most of which is subsidies and arrears, failing to have any real impact on growth. Higher the subsidies, lower the GDP vis-à-vis GVA. GVA, therefore, will be a better matrix to study growth in the coming quarters.

4. Investments are surprisingly up- Most indicators have been betting on low Capacity utilization, lack of ‘animal spirits’, fall in projects etc. but on the contrary, investments are up by 2.5% in Q3 (albeit aided by low base but 12% Q-o-Q growth shows pickup in momentum). This provides further strength to the hypothesis of better capex cycle ahead of us, while taking a harmonious view of the economy. ‘Construction’ and ‘Financial Services, Real Estate and other prof services’( real estate alone forms 60%+ of this category), has grown by 6%+. IIP capital goods and infra/construction are clocking some expansion. Import of capital goods is growing. These numbers put into perspective reveal the revival in the capex cycle. More force continues to be needed.

5. An incomplete recovery but optimism to get better is validated- While there are obvious caveats to this bipolar economic recovery, the optimism to heal gradually is validated. The fiscal and monetary heavy lifting needs to continue and probably get more focused to the laggards(informal sector and contact intensive services). With non food credit growth subdued at 5.7%, some structural issues still need ointment. Risk on might be the case for assets, not yet for the economy.

Source: The Times of India

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Walmart plans to triple exports from India to $10 bn annually

Walmart recently launched a new Vriddhi e-Institute in Agra to provide small businesses in Uttar Pradesh access to skills and competencies to grow in a post-pandemic environment through online and offline channels like Flipkart’s marketplace and Walmart’s international supply chain.

With this, Walmart is expanding its Vriddhi Supplier Development Programme towards empowering 50,000 micro, small and medium enterprises (MSMEs) across India for growth.

The program provides MSMEs with specific training to leverage modern commerce and get ready for opportunities in Flipkart’s eCommerce marketplace, the supply chain of Flipkart Wholesale and Walmart’s global sourcing operations, as well as the open marketplace, Walmart said in a press release.

The Vriddhi e-Institute in Agra will partner with MSMEs from the state through interactive learning and advanced competency-based training, with personalised feedback and advice.

The curriculum is tailored for the unique challenges and opportunities of local businesses and is offered in Hindi and English. In particular, the e-Institute will focus on empowering skilled artisans and entrepreneurs to expand markets for Agra’s prominent footwear manufacturing and stone carving sectors.

Walmart plans to triple its exports from India to $10 billion annually by 2027.

Source: Fibre2Fashion News

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INTERNATIONAL

State-Run Jute Mills: Govt going for lease to private

The government has decided to lease out all 25 state-run jute mills to the private sector despite initial plans of reopening them either through joint venture, public-private partnership, or a government-to-government (G2G) agreement.

A nine-member inter-ministerial committee has nearly finalised the terms and conditions of the lease contracts and international tenders for this purpose might be issued within a week or two, said sources at the Bangladesh Jute Mills Corporation (BJMC).

According to BJMC and ministry sources, it has been decided to lease out the mills for a period of five to 20 years through an open bidding system.

The government closed all state-run jute mills on July 1 last year due to heavy losses and excessive production costs, laying off more than 50,000 workers in three categories -- permanent, temporary, and substitute.

At the time, the Ministry of Textiles and Jute in a press release stated that the mills would be modernised and reopened soon through joint venture, PPP, or a G2G agreement.

Later on July 16, a 13-member technical committee was formed to suggest ways to reopen the mills. It also recommended leasing out the mills to the private sector for a short term besides the options of joint venture, PPP and G2G.

The BJMC and ministry have now decided on the short-term contracts and are currently considering leasing out the mills, along with some of the land, as its first priority, said BJMC Chairman Abdur Rouf on February 20.

Talking to The Daily Star again yesterday, "Our decision is to modernise and reopen these mills through private management while the state ownership will remain in place.

"This is what we mean when we talk about leasing out the mills to the private sector."

Contacted, Secretary of the Ministry of Textiles and Jute Mohammad Lokman Hossain Mian said the options to go for a G2G agreement, PPP, or other forms of investment are still there.

"If we don't get proper response in this [leasing] process, we might consider these options. We cannot comment on this issue any further," he said.

According to the BJMC chairman, the government will not spend any money to modernise the mills. At most, it can remove the old machinery if the investors want them to do so.

The BJMC will remain as a monitoring body to oversee whether the investors are complying with the terms and conditions. BJMC will also lay off 90 percent of its 2,900 staff officers and maintain a small workforce only to monitor compliance issues.

The BJMC had earlier been reluctant to lease the land that comes with the mills to private investors.

Also member secretary of the technical committee, Abdur Rouf had told The Daily Star in September last year, "BJMC had bad experience leasing out the entire mills to the private sector for a longer period of time. Many businessmen tried to grab land and misused the mills."

To prevent such a situation, the technical committee had recommended that only the mills might be leased to industrialists and all the land would be kept under government control.

When asked last month why the decision about leasing the land has changed when there is previous evidence of land grabbing, Abdur Rouf said, "Land adjacent to a mill will also be leased so that the investors can extend the plant if necessary or build necessary infrastructure."

"However, he added, "land that is not adjacent to the mill – like the land for workers' and officers' quarters -- will not be leased out.

"For instance, one of our largest jute mills encompasses 113 acres of land. We have calculated that if we lease out the land adjacent to the mill, at most 50 acres will be leased out in the process. The remaining 63 acres will be under our control."

EXPERTS, INDUSTRIALISTS SCEPTICAL

Industrialists said the duration of the contract is too short and their demands for bank loans on easy terms have not yet been addressed.

Chairman of Bangladesh Jute Spinners Association Md Zahid Miah said, "I have been saying it for a long time that without a long-term contract, like for 99 years, investing in these mills will not be feasible. The mills and their equipment are so old that an investor will have to start from scratch.

"Getting bank loans and importing and installing new machinery will take time and if everything goes in the right direction, then the lease term will end just at the time when the investor will start to make profits. They [BJMC] might tell you that they will renew the contract but this can never be said beforehand."

Chairman of Bangladesh Jute Mills Association Mohammed Mahbubur Rahman Patwari said, "If the duration is so short and the land is not leased, no bank will be interested to give loans. The government should take special measures to sanction loans for the investors of these mills on easy terms."

Executive Chairman of Bangladesh Investment Development Authority Sirazul Islam said, "The locations of the jute mills are very lucrative and there is a large amount of land on their premises.

"If the government wanted to use these properties for other industries, many Bangladeshi and foreign investors would have come forward. However, the decision so far is to lease out the mills exclusively for jute industries."

Research Director at Centre for Policy Dialogue Khondaker Golam Moazzem said, "It seems that this plan has been adopted to sustain BJMC's regulatory power by maintaining large-scale jute mills. To ensure effective privatisation, BJMC's activities should be stopped in the first place.

"We have said previously that the large mills should be replaced with small and medium-scale privately run mills. The existing infrastructure and real estate can also be handed over to BEZA [Bangladesh Economic Zones Authority] who can establish economic zones to attract investment in more profitable industries."

He added, "The government can also incentivise the jute industry in these economic zones which will attract businessmen to invest in the jute mills."

Investors are also alarmed by the unsettled financial liabilities of these mills -- which amount, at present, to more than Tk 1,000 crore in unpaid loans to various banks. The mills also owe more than Tk 250 crore to raw jute merchants who have been clamouring for their dues for a long time, according to BJMC sources.

CPD's Moazzem said, "Before leasing out these mills, the government must clear all of the unsettled financial issues of the mills. Otherwise, there will be legal difficulties in getting bank loans."

In this regard, BJMC Chairman Abdur Rouf asserted that the government will clear these dues by the next fiscal year. He also said it will be mentioned in the contract, that the investors will not be liable for unsettled financial issues.

Source: The Daily Star

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US cotton product imports set to decline in 2021

The Joe Biden administration has announced an import ban on the cotton products from China’s Xinjiang region. These measures were taken in response to allegations of forced labour and ill-treatment of Uighur Muslims of China. As a result, US imports which remained stable in 2020 at $12,150.38 million (2019: $12,468.87 million) might be affected this year.

According to Biden, China has detained approximately 1 million Uighur Muslims. US’s allegations against China may increase the prices of cotton textiles and apparels in US as the major cotton supply done in the world is fulfilled by Xinjiang region. Further, US also announced that it may ban the imports of cotton products from the countries who purchase the cotton from this region.

According to the industry experts, if the above decision is implemented fully, then it might create a major disaster in cotton and other textiles and apparels supply chain all over the world.

Source: Fibre2Fashion News

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Will textile boom last long?

Covid-19 has turned out to be a blessing in disguise for the textile industry as global buyers are increasingly turning towards Pakistan by cutting orders to regional players, resulting in 100% utilisation of available production capacity.

Almost all the major players in the country are in the process of expanding their capacity in a bid to create room for the growing number of export orders, especially for home textile. “Conditions for Pakistan’s textile industry are very favourable and it is working at full capacity,” remarked Taurus Securities’ textile sector analyst Hania Nabeel while talking to The Express Tribune.

Textile orders were pre-booked till December 2020 and for some companies till June 2021. However, it remains to be seen whether the industry will continue to receive such orders in future as well.

Textile orders have shifted to Pakistan because of the more severe impact of the Covid-19 pandemic on regional countries. This has given Pakistani exporters, particularly the key market players, an opportunity to quote competitive prices and offer better quality products so that the new buyers could become their permanent customers. According to the Pakistan Bureau of Statistics, textile group exports registered an increase of 10.79% to $1.32 billion in January 2021 compared to $1.19 billion in January 2020.

The All Pakistan Textile Manufacturers Association (Aptma) has revealed that they have received bulk export orders, which will engage the industry for the next six months.

“The textile sector has received an overwhelming response from the international market with handsome orders pouring in from the US and European Union,” said Majyd Aziz, a textile exporter.

At present, textile mills are enhancing their production capacity and hiring manpower in order to meet export orders according to schedule despite challenges like high costs of raw material. The positive impact of the growth in textile industry is also being felt by the allied sectors including chemicals, logistics, packaging and other services.

“Demand for specific chemicals has increased as a result of the rise in textile production,” said Irfan Chawla, Director of Archroma Pakistan, a leading chemical producer.

“Domestic producers have the expertise and capacity to meet the increase in demand for textile chemicals,” he said. “Our company is supplying a full range of textile dyes and chemicals for the spinning and garments industry.”

However, he suggested that Pakistan’s textile industry should draw up a policy to sustain exports to the global market and that could be possible through innovative strategies.

“Export figures may drop in coming months,” Hania Nabeel cautioned, adding textile orders were higher than last year but were lower when compared with the past six months as Bangladesh and India were now reopening their industries and markets.

“It depends on Pakistani companies whether they are able to retain the increased orders or not,” she said.

Duty reduction on basic raw material imports can support import substitution, thus saving foreign exchange and creating jobs in the country.

The government should encourage local production and import substitution through duty cut, tax incentives on investment in manufacturing and early release of tax refunds for exporters, and it should create a level playing field for domestic supplies compared to imports, said the Archroma official.

Source: The Express Tribune

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Bangladesh's DCCI calls for strategy committee to get EU GSP+ facility

Dhaka Chamber of Commerce & Industry (DCCI) president Rizwan Rahman recently proposed forming a national strategy committee to take time-bound actions to avail of the generalized scheme of preferences (GSP) plus facility in the European Union (EU) market after the country's graduation from the least developed country (LDC) status in 2024.

"After graduating from least developed country (LDC) status in 2024, Bangladesh would have to ratify 27 international conventions to get generalised scheme of preferences plus (GSP+) facility for export," he said.

A DCCI delegation paid a courtesy call recently on the prime minister's private industry and investment adviser Salman F Rahman, said a press release issued by DCCI.

The DCCI president also called for an effective introduction of integrated one-stop service (OSS) with skilled human resources from all relevant service delivery agencies to make investment easy and simple.

He also suggested devising a national strategy for promoting foreign direct investment aligned with the industrial policy, export policy, foreign exchange regulations, import policy and other government strategies.

Source: Fibre2Fashion News

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Milan designers hit reset button during digital fashion week

Fashion is off the hamster wheel, taking a deep breath that is allowing some freshness to seep into the once relentless cycle.

"It is so weird thinking about fashion, and the kind of hamster wheel of fashion, and how we never had a break and always complained about it,'' Marc Jacobs said during a Milan Fashion Week video chat with Miuccia Prada and Raf Simons post-digital show. "And then you get a break, and you complain."

Instead, he said, he was taking the moment to watch others, and be inspired.

Milan Fashion Week of mostly womenswear previews for next fall and winter wrapped a nearly all-digital edition on Monday. Only one designer — Daniel Del Core, marking his brand's debut — held a live runway show for a small number of guests.

While the bustle of live shows with the parade of itinerant fashionistas decamping from New York to London, Milan and finally Paris was missed, designers also were stimulated by the slower pace of the pandemic-era fashion cycle.

Austrian designer Arthur Arbesser shrank his collection to just 25 looks, which he presented in visits to his Milan studio and video calls, opting out of a digital runway show.

For the creations, he upcycled textiles from previous collections that had been stashed in a studio cubbyhole. The designer revitalized them either by printing a new design on the other side, in the case of a pretty pleated skirt, or printing over the original with a different pattern, in the case of a black architectural detailing over a striped cotton.

Arbesser said the enforced quiet of the COVID-19-era restrictions, along with the necessity of saving money, pushed other creative forces to the fore. He and his team created a patchwork mini-dress out of cotton, silk and technical nylon, and they experimented with Shibori hand-dying for a wool mini skirt.

The collection bears Arbesser's love of prints, this season's inspired by an actual painter's palette that he picked up at a flea market, which he mashes up with geometrical patterns and materials that range from soft silk jersey to wool to knits.

"I felt it was important to keep writing this story, my little story, keep adding chapters,'' Arbesser said of his 8-year-old brand. "I am happy that even doing something so reduced, so little, while at the same time producing quality, you can still be seen, you can actually sell your production."

Global masters Dolce&Gabbana took a technological leap forward with a no-holds-barred, youth-inspired collection featuring technical textiles in bold hues intermingled with hologram finishes, metallic glimmers and even multi-colored Styrofoam beads, for a feast of colorful confections.

The 140 looks included some reinterpretations of Domenico Dolce and Stefan Gabbana's iconic pieces — including Madonna's bejeweled bodysuit and corsets worn by dancers in Prince's "Cream" video — from the early days when Dolce&Gabbana helped define the bold sexiness of the 1990s.

The result was a mix of Dolce&Gabbana's trademark tailoring, often under strands of layered pearls and gold, alongside more futuristic elements that bely our new protective bearing: elaborate eye shields, plastic sneaker coverings and transparent slickers. Underlining this leap forward, a humanoid robot developed by the Italian Institute of Technology acted as master of ceremonies for the digital runway show.

"The collection is a tribute to this generation that asks us about the 1990s," Dolce said during an in-person presentation of the looks at the designers' showroom.

The designers said the younger generation's idea of sexy is much freer of preconceived notions than in the past, meaning men can wear lace T-shirts without a second thought.

"It has nothing to do with sexuality,'' Gabbana said. "It is almost a euphemism; it's about pleasing themselves."

Giorgio Armani staged separate digital men's and women's collections in his own theater both around a replica of a gorilla statue dubbed Uri that has been part of his personal home decor for decades. This green version of Uri evoked the designer's support of wildlife preservation, but also echoed the collections' ties to the natural world. Prints and designs that can be interpreted as leaves, or water lilies, or simple sea creatures, provided the motif for elegantly relaxed looks.

The fashion world also paid tribute to creative colleagues in the theater, which have been mostly empty in Italy since the start of the pandemic.

Pierpaolo Piccioli staged the Valentino Fall/Winter 2020/21 collection live to empty seats in Milan's Piccolo Theater, while the singer Cosima hauntingly intoned Sinead O'Conner's lyrics: "It's been so lonely without you here."

The Valentino collection was a somber affair, fitting the moment. It featured tailored jackets that have been reconstructed into capes, layered with pointy-collared white shirts, skin-fitting tops with seemingly hand-cut holes. For women, there was a movement in flouncy miniskirts peeking out of jacket hems, while feminine flourishes like ruffles on shirts were employed with discipline. Accessories featured studded bags and boots.

Milan designer Francesca Liberatore had planned an extravagant show in a Milan theater with holographic effects, but decided against it in solidarity with theater creatives who can't occupy that space.

"I had the moral problem. How could I do a show in a theater at this moment when artists themselves cannot recite in this place?" Liberatore said by phone.

Instead, her virtual show featured an actor on an empty stage, and two-dimensional models, like paper dolls, in creations including reinvented trenches in camouflage, representing the state of siege society is living under in the pandemic.

Source: The Star Tribune

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Hoss Intropia to launch spring/summer 2021 collection

Hoss Intropia has announced that it is set to launch its first spring/summer 2021 collection, under the artistic direction and strategic and operational management of Tendam, one of Europe’s leading omni-channel groups in the specialty fashion sector. Tendam is one of Europe’s leading fashion retailers operating in the specialised chain segment.

During this initial phase, Hoss Intropia will be available in 20 of the Cortefiel and Pedro del Hierro flagship stores throughout Spain in a shop-in-shop or boutique model as well as featuring a @Showroom concept in six other stores. It will also have its own online shop. The Hoss Intropia brand will gradually grow its presence internationally, within department stores and throughout the franchisee network, according to Tendam.

Alejandra Valero, design manager for eight years during the brand’s earlier days, has re-joined the company to lead the creative department. She is supported by a multidisciplinary team with years of expertise in the Hoss Intropia universe in the areas of design, visual elements, marketing and communication. The spring/summer 2021 collection, the first of the brand’s new era, is imbued with the original Hoss Intropia spirit and creates a universe that no other brand has been able to recreate, especially in the Spanish market, Tendam said.

The re-launch will use a shop-in-shop model to feature Hoss Intropia in 20 Cortefiel and Pedro del Hierro points of sale where Tendam’s new brand will be showcased as an integrated boutique. There will also be dedicated space in six stores for the @Showroom concept: a space where shoppers can get to know the products, touching the fabrics and trying on a selection of garments. At @Showroom, customers will be able to place an order on the spot and indicate where their purchases should be sent. Four collections will be launched this season and six in the following season, with each collection offering more exclusive apparel and accessories available via the online shop, which is the channel the company has targeted to make one out of every two sales of the brand, Tendam said in a press release.

Hoss Intropia returns to the market with a commitment to sustainability; more than 30 per cent of the spring/summer 2021 collection is sustainable, made with recycled materials, a denim line designed for responsible washing and all the t-shirts made from organic cottons. The launch of Hoss Intropia highlights Tendam’s expertise in customer knowledge and segmentation and represents an important step forward in the strategy of its multi-brand platform.

“Hoss Intropia was a fashion classic for women in Spain and internationally. Its romantic-sophisticated bohemian feel exudes a style of its own, setting it apart from the fashion trends of the day. We are staying true to its authenticity as we re-launch the brand and take advantage of its obvious compatibility with the rest of Tendam’s brands for women. Hoss Intropia caters to the affordable luxury segment,” Marie Castellvi-Dépée, CEO of Cortefiel and Pedro del Hierro said in a statement.

Source: Fibre2Fashion News

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UK's Whispering Smith reports sharp rise in made-to-order service

Whispering Smith, Britain’s biggest fast-fashion wholesale importer and supplier, recently reported a sharp rise in its made-to-order (MTO) service, designed to help ambitious young fashion designers and start-up brands get off the ground. Demand for its unique in-house MTO design, production and distribution services rose by over 1,600 per cent in the past 12 months.

The Manchester based group, which supplies to high street and e-commerce brands, including ASOS, New Look, Zalando and Footasylum, said in the past six months alone, it has worked with over 1,100 start-up brands, as well as established labels looking to adapt to the new post-COVID retail landscape and Brexit, it said in a press release.

The company also offers thousands of on-trend, affordable white label designs, which can be rebranded with its customers’ own labels.

MTO provides a 360-degree service to fashion labels of all sizes, capable of overseeing every aspect of the brand journey—from design, branding and merchandising, sourcing, manufacturing, importing, distribution and sales.

Source: Fibre2Fashion News

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