Telangana is the fourth largest producer of cotton in the country. Importantly, the cotton produced is the premium long staple variety. Currently, 17 lakh hectares is under cotton cultivation, yielding 70 lakh bales annually. However, only 7% of the cotton produced is ginned and spun in the 35 or so textile mills operating in the state. The rest of the cotton is shifted for processing and spinning to other states, including Tamil Nadu, Maharashtra and Gujarat that have large mills.
This means that the state is unable to reap the benefits due to lack of modern processing and dyeing houses. Furthermore, inadequate water resources due to scanty rainfall and depleting groundwater coupled with irregular power supply are some of the other reasons.
Lack of infrastructure coupled with limited employment opportunities compelled Telangana’s youth to look outward for opportunities in neighbouring states in the country and outside. They seek employment in the textile and garment sectors in Maharashtra, Gujarat, Haryana, Karnataka, the UAE, Bangladesh, etc.
Not all is lost, as the state is seeking to improve the languishing textile and garment industry. During the past few years there has been an improvement in the groundwater levels, largely due to Mission Kakatiya, with many irrigation projects like Priyadarshini Jurala Project, Koilsagar, Kalwakurthy LIS and others. Many water bodies are created and old ones filled, resulting in increased surface water. At the same time, better management of power generation has made it possible to make electricity available without major interruptions.
Telangana state and specifically Hyderabad are strategically located. To further the advantage, the government has proposed to connect different districts to the capital through the “regional ring road”. This project will greatly improve connectivity, making accessibility by road and railway to the seaports on the west and east coasts easier.
Human factor is critical to the textile and garment industry, which is highly labour-intensive. It needs trained workforce. A sustained effort to develop human capital is essential for the industry to survive and thrive. Many schemes to encourage and support handlooms have been operating in the state such as Nethannaku Cheyutha, infrastructural support and Chenetha Mithra input subsidy scheme. These are aimed at the development of handloom clusters and weavers.
While handlooms help weavers directly, the weaving process is slow and the fabric output is small. As a result, handloom fabric is mostly used in traditional wear.
The readymade garment industry needs high quality and large quantity of fabric. For the readymade garment industry to thrive, mill-made fabric is essential. Barring a few mills like Sanghi Spinning Mills and Sanghi Textiles, and Suryalakshmi Mills, there are no major textile players in the state.
Encouraging investments in modern spinning and weaving mills by setting up textile clusters will multiply employment and also improve local consumption of high-quality cotton fibre. Textile clusters must include processing and dyeing houses as standalone units or composite mills. These clusters can be developed in and around districts that have sufficient water resources.
Thus the state can encourage handloom and powerloom sectors to offer greater choice to the readymade garment industry and this approach will complete the value chain, leading to increased employment, investment and state revenues. It is a fact that for every Rs 1 crore invested, nearly 100 jobs are created directly in sewing, finishing and packing; and indirectly support services such as printing, embroidery, washing, trims and accessories. Promotion of the manufacturing sector is vital for sustained growth and employment. Therefore, development of the textile sector will create employment in Telangana where nearly 30% of the population is unemployed.
Various skill development schemes have generated large pools of skilled manpower in different districts of the state. Many of the trained youth prefer to seek employment within their district and state. The state government needs to address this demand, which would improve both the garment industry and add value to the state’s economy.
The larger picture that emerges is lack of sustained campaign to promote the industry. It is observed that there is a lack of connect between the industry and the government. This needs to be addressed by the state government by engaging actively with local and national trade bodies. It is time the state shifts gears and works on a mission mode to promote garment manufacturing.
Source: The Financial Express
The Cotton Corporation of India (CCI) on Monday reduced the selling price of cotton as a “one-time correction.”
International cotton prices had risen almost 12% in the last two months and dropped at the same rate, said Pradeep Kumar Agarwal, CMD of CCI. “The CCI did not increase the prices to that extent. Since CCI prices went up only by about 2%, it has reduced the prices by [about] 2%,” he said. The amount of reduction in prices differs according to the variety of cotton.
This nominal correction will give a stimulus to the textile industry as those who want to buy cotton can do so now, he added.
A. Sakthivel, chairman of the Apparel Export Promotion Council, said cotton yarn prices had gone up steeply in the last 4 months. The move by the CCI was significant for the textile value chain, especially garment exporters, he said, appealing to textile mills to reduce yarn prices by ₹20 a kg as cotton prices had declined.
Source: The Hindu Business Line
Finally, Indian textile and apparel industry gets some immediate support from the Government, as Cotton Corporation of India (CCI) reduces cotton prices by around Rs. 1,500 per candy (356 kg).
It is pertinent to mention here that the cotton yarn prices have consistently increased in the last four months. Cotton has gained over 13 per cent since the beginning of this year, with prices rising nearly 10 per cent in February.
High prices of cotton yarn and unpredictability in its availability have been affecting the entire value chain and having an adverse cascading effect on garment exports.
Apparel industry reacted positively on this step and hoped that his move will help them on ground level also. The move is significant as it will help reduce the burden on apparel exporters across the country.
Dr. A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), thanked Textiles Minister Smriti Irani for her help in getting the CCI to reduce cotton prices.
“We wholeheartedly thank you for meeting us on 18 March 2021 to discuss the issue of yarn price increase,” Dr. A. Sakthivel wrote in a letter to the Hon’ble Textiles Minister.
Source: Apparel Online
Union Minister Smriti Irani’s assurance of subsidies for reviving textile mills and appointment of Textile Commissioner for the holy city has raised hopes of local industrialists.
Responding to the demand of Amritsar Lok Sabha MP Gurjeet Singh Aujla in Parliament, she announced that various steps were in pipeline to revive the textile industry of the city. She informed that a Textile Commissioner would be appointed and subsidy would be given for its revival.
Earlier, Aujla had raised the matter of ignoring the textile industry of the border city, which used to be hailed as Manchester of India. He said it used to offer employment to a large number of people.
Textile Merchants Association (TMA) stated that the Union Government had not announced the textile policy which has been pending since 2016. Its members demanded that the New National Textile Policy should be framed to meet its requirements and redressal of shortcomings.
There are two components of textile sector – organised and unorganised sector. Most of the units here fall in unorganised sector which come under the MSME category. The problems gripping this sector are very much different from other.
Basic raw material for textile sector in India is polyester and woollen and worsted yarn. Woollen yarn, which is also called, greasy wool, is being imported from Australia and other countries. It said these raw materials should be made available at international price and particularly at the rate prevalent in Chinese market which could increase the textile export manifold. Improvement in the quality of wool in India either by importing merino goats from Australia or its sperm be arranged.
SK Wadhwa, a textile manufacturer, said, free import of textile readymade and made-ups under SSARC from Bangladesh in particular has crippled the domestic industry. So amendments are required. “Export Promotion bodies should organise international seminars, conferences during winters in the holy city, which boasts of international airport and the best of road and rail connectivity,” he said.
He demanded upgradation in the syllabi of IITs and polytechnics and direction to export promotion councils to arrange study and promotional tours overseas for textiles particularly shawls, Wool Research Center in Jodhpur may also improve research and development for innovation. “Setting up of a ‘wool technology centre’ at GNDU where courses can be offered to train students for wool exclusively,” he added.
Source: The Tribune
Apparel manufacturers have urged the mill owners to cut yarn price by Rs. 20 per kg as there has been reduction in cotton prices by about Rs. 2,500 per candy in the last two months.
Dr. A. Sakthivel, Chairman, Apparel Export Promotion Council (AEPC), has written a letter to Confederation of Indian Textile Industry (CITI) and SIMA, Coimbatore; NITMA, Chandigarh; TASMA, Dindigul.
He said, “We have requested all the mill owners to bring down the yarn price by Rs. 20 per kg with immediate effect.”
It is pertinent to mention here that Cotton Corporation of India (CCI) had reduced cotton prices by around Rs. 1,500 per candy earlier on Monday.
CITI Chairman was not available to comment on the next step to be taken by mills.
It is worth noting that since last four months Indian apparel manufacturers have been facing steep hike in raw material price. Time and again, they have requested the Government and the mill owners to control the yarn price.
Source: Apparel Online
“Due to poor quality of Indian cotton, importing nations are a little hesitant to buy from us,” said an upcountry trading source, not wishing to be identified.
This, in turn, can slow down exports that are projected at 75 lakh bales (of 170 kg each) by the Committee on Cotton Production and Consumption, a body of all the stakeholders in the cotton industry.
A trader from the western part of the country said that the Cotton Corporation of India (CCI) has been left holding 51 lakh bales of cotton procured this season due to the fibre being slightly yellow in colour. Similarly, Maharashtra State Cooperative Cotton Growers Marketing Federation (MSCCGMF) has not been able to sell at least six lakh bales it procured from the growers due to the same issue.
CCI denies
CCI and MSCCGMF had procured cotton under the minimum support price (MSP) scheme from the farmers, mainly during the early part of the current season (October 2020-September 2021). For this season, the Centre has fixed the MSP for cotton at ₹5,515 a quintal. At least 100 lakh bales have been procured by these agencies.
When contacted by BusinessLine, CCI Chairman-cum-Managing Director PK Agarwal denied there were any quality problems with cotton exports. “We have the best quality cotton with us. We bought the fair average quality cotton from the growers and whatever we did not procure were bought by other traders,” he said. Southern India Mills Association (SIMA) Secretary-General K Selvaraju said that cotton has quality issues this season, particularly with its colour, following unseasonal rains during October-November last year.
“The CCI was strict in ensuring that the cotton it procured this year adhered to the FAQ norms. Some private traders bought cotton below these norms at a price ₹500-700 a quintal lower than MSP. Last year’s cotton was of better quality than this year,” the SIMA official said.
The trader from the western part said that CCI did not have any problem in selling 45 lakh bales of the fibre with it from the previous season. “This year, the unit of colour reflectance (Rd) is lower in the current season’s stocks as rains have affected the colour,” he said. The Rd level is an indicator of cotton’s witness and a lower level means the fibre’s colour is a bit yellowish, probably on account of rainwater seeping in it.
“There seems to be no problem with either the micronaire or staple length. The issue is over cotton’s grading, basically due to the colour,” the trader said.
Prices drop
Trading sources said that due to quality issues, the CCI had lowered its offer prices for export last week, though one source put the cut due to a drop in New York price, which serves as the benchmark.
According to the Gujarat Cotton Trading Association, Shankar-6 cotton, the benchmark for exports, quoted at ₹45,100-45,500 a candy (of 356 kg) on Tuesday compared with ₹45,900-46,200 a week ago.
In New York, cotton prices are currently quoted at 84.32 cents a pound (₹48,350 a candy) against 86.13 cents (₹49,400) last week. In the domestic market, raw cotton or kapas prices have dropped by ₹150-200 a quintal since last week to ₹6,050-6,250 in Rajkot district agricultural markets.
CCI’s Agrawal said cotton exports this season would be between 70-75 lakh bales, up from projections of 65-70 lakh bales made last month.
The Cotton Association of India projected exports at 60 lakh bales earlier this month. Last season, exports were 50 lakh bales.
“Exports will be around 50-55 lakh bales in view of the problems that are reported on quality,” said SIMA’s Selvaraju. During the current season, 46 lakh bales have been exported until last week with most of the shipments heading to Bangladesh, China, Turkey and Vietnam.
Source: The Hindu Business Line
Knitwear exporters from Tirupur have asked buyers to increase prices against the backdrop of rising raw material costs.
Raja M Shanmugham, president, Tirupur Exporters Association, said that there ws an urgent need to hike the prices of knitwear products for Tirupur's exports to sustain and face the challenging business environment prevailing for the past four months.
The textile town in Tamil Nadu exports products worth about Rs 27,000 crore.
After the central government increased the minimum support price for cotton (kappas) procured from farmers, lint (ginned cotton) prices have risen from Rs 36,016/candy (355.54 kgs) in August 2020 to Rs 46,720/candy in March 2021 and the association has asked the Ministry of Textiles to intervene in the matter.
Shanmugham said that the increase in cotton yarn prices, coupled with an increase in prices of accessories and dyeing charges have made the manufacturing of garments costlier. He pointed out that the fabric cost for manufacturing garments was Rs 384.16/kg in the month of August 2020 has now (March 2021) gone up to Rs 464.8/kg, an increase of 21%.
Shanmugham said the difference in prices of regular cotton yarn and organic cotton yarn was just Rs 10/kg before November 2020, while now the difference was almost Rs 120 a kg. The cost for manufacturing garments was Rs 390.88 a kg in the month of August 2020 and has now (March 2021) gone up to Rs 566.72 a kg, an increase of 45 per cent.
Shanmugham said in the case of cotton and Spandex yarn, due to the increase in prices of Spandex yarn, the cost for manufacturing garments was Rs 432.32/kg in August 2020 and had now (March 2021) gone up to Rs 546.56/kg, an increase of 26%.
The association has appealed to buyers to consider the overall increase in the prices of fabric, which has resulted in an increase in cost of manufacturing of garments and requested them to revise the prices of garments to achieve a win-win situation.
Source: The Business Standard
With barely a fortnight to go for the elections, the garment manufacturers have at last ended their anxious wait for orders from political parties with a tinge of disappointment.
“Though polls were announced in short notice, the garment manufacturers were hoping that orders would gain momentum once alliances are sewed and seats are fixed. When it didn’t happen, our hope wasn’t lost. We thought orders may come after candidates are announced and electioneering picks up pace. That too didn’t happen. This has been our poor poll business season ever,” said Chandira Kumar of Sentinel Clothings in Tirupur.
In the previous polls, the garment units in the dollar city worked round the clock to meet out the poll demand as orders came pouring even one month ahead of the announcement of poll date.
“During the last assembly polls, we were rolling out at least 3000 customised t-shirts for political parties every day. It’s almost nil business now, although just two weeks were left for polls. Last assembly polls in 2016, the textile sector did a business volume of about Rs 100 crore,” he added.
The garment manufacturers attributed the dull poll business to the election commission’s strict enforcement of expenditure norms for political parties.
Orders from other states like Kerala has been nil due to checks and hurdles in transportation of poll materials. Political parties too appear to be working on a shoestring budget and are refusing to spend lavish for the poll paraphernalia following COVID-19 impact on the economy,” said another garment manufacturer.
However, in a silver lining for the ailing textile sector, the orders for printed masks with images of party symbols has begun to come in moderate numbers following the spread of a second wave of the pandemic.
“As the election commission has been insisting on wearing of masks even during the political meetings, orders have come forth in minimal numbers from political parties over the last few days,” said Chandira Kumar.
Political observer’s claim that a change in style of campaigning by party leaders from massive public meetings in the past to sparsely crowded open rallies has also had its impact in the poll paraphernalia business.
“I display my loyalty by wearing t-shirts and cap with the image of my beloved ‘Amma’ given by the party during such massive political meetings. But this time, I had to do away with just the party’s ‘karai veshti’ that too given during the previous polls,” said S Kalimuthu, an AIADMK loyalist in Pollachi.
Source: DT NEXT
Struggling to meet high-cost pressure, especially due to steep hike in yarn prices, Indian apparel exporters have urged global retailers and brands to increase the price of apparels, which they are sourcing from India.
Increase in cotton yarn prices, coupled with increase in accessories’ prices and dyeing charges, has made the manufacturing of garments costlier.
Substantiating further, the apparel exporters pointed out that the fabric cost for manufacturing garments was Rs. 384.16/kg in the month of August 2020, which has now (March 2021) gone up to Rs. 464.8/kg – that’s an increase of 21 per cent.
Raja M. Shanmugham, President, Tirupur Exporters’ Association (TEA) said that the price increase of knitwear garments from buyers is desperately needed and is need of the hour for Tirupur’s knitwear exports sector so as to sustain in the business and face the challenging business environment that’s prevailing externally and internally since past four months.
It is also pertinent to mention here that further to Union Government’s announcement on increasing minimum support price (MSP) in the current year for cotton (kappas) procured from the farmers, lint (Ginned Cotton) prices have been increased from Rs. 36,016/candy (355.54 kg) in August 2020 to Rs. 46,720/candy in March 2021, and TEA has represented Ministry of Textiles (MoT) to intervene for reduction of cotton prices also.
Though the CCI has reduced the cotton price to Rs. 1,500 per candy and overall there has been reduction in cotton prices by about Rs 2,500 per candy in last two months, apparel exporters believe that it will have very limited impact on the cost of final garment.
Raja says that in the case of organic cotton and spandex yarn, the fabric cost for manufacturing garments was Rs. 439.04/kg in the month of August 2020, which has now (March 2021) gone up to Rs. 648.48/kg, at an increase of 48 per cent.
TEA has appealed to buyers to consider the overall increase in the prices of fabric, which has resulted in increase in the cost of manufacturing of garments, and requested them to come forward and revise the prices of garments to witness a win-win situation for both sides.
RETAILER
Source: Apparel Online
Lux Industries NSE -0.38 % Limited, a hosiery producer said it will invest Rs 110 crore in setting up manufacturing and storage facilities in the next 1-2 years, which is expected to generate incremental sales of Rs 400 crore once it is operational.
The company said it has already identified a land parcel measuring the construction area of about 4.6 lakh square feet of which nearly 20-30% will be used for manufacturing and the rest for warehousing, storage and finishing facilities.
“Despite the advent of Covid-19, our performance continues to remain strong, and we continue to see robust demand. Our flexible manufacturing approach has made us more agile in responding to strong demand estimation. The new investment will further augment our ability to act swiftly and improve our market share in existing segments as well as new segments like kids and women innerwear,” said Ashok Kumar Todi, Chairman at Lux Industries.
The funding will be through internal accruals, it said in a statement to the stock exchanges. As of December 31, 2020, they had a cash balance of Rs140 crores.
“We expect to maintain our net cash status positive even after completing the Capex backed by our strong operating cash flow and focus on reducing working capital further,” said Pradip Todi, Managing Director at Lux nearly 16 home-grown brands including GenX and Lyra.
The Kolkata based firm has nearly 14% market share in the organized men’s innerwear market, primarily catering to the economy and mid-premium segments.
Source: The Economic Times
Increased economic activities have resulted in higher GST collection which stood above Rs 1 lakh crore for five months in a row since October 2020, Minister of State for Finance and Corporate Affairs Anurag Thakur said in the Rajya Sabha on Tuesday.
Thakur, during Question Hour, said this could be possible on the back of the measures taken by the government to boost economic activities over the last year to deal with the COVID-19 pandemic.
"GST collection has increased. If you see e-way bill data, numbers... activities have increased," the minister said.
"GST collection has witnessed above Rs 1 lakh crore for a stretch of five months since October 2020... The GST collection during the period has been higher than the collection in the same period last year," he said.
On the economy, Thakur said V-shaped recovery is being seen as the third quarter GDP numbers are positive and trade is getting better.
The Indian economy had seen a contraction of 24.4 per cent in the June quarter of FY21, impacted by COVID-19.
After two consecutive quarters of contraction, the country's GDP entered into a positive territory with a growth of 0.4 per cent in the October-December quarter of the current fiscal.
"When COVID-19 pandemic erupted... -24.4 growth rate was recorded in April- June.... Modi government has initiated several good steps with a positive result and 0.4 per cent growth was in the third quarter," Thakur said.
He also listed various steps taken by the government during the pandemic to boost the economy, including stimulus packages under Aatmanirbhar Bharat programme, emergency credit line and loan moratorium.
As per a written statement from the Ministry, the GST collection in any particular month depends upon the total taxable value of goods and services supplied in that month.
Moreover, the number of e-way bills generated in the current fiscal is almost equal to the number of e-way bills generated last year in spite of a dip in the number of e-way bill generated during April and May 2020, the statement said.
The monthly GST collection trend and the generation of e-way bills are clear indicators of increase in the economic activity, it said.
Source: The Economic Times
Whether handloomed or naturally dyed, pieces made of Philippine textiles are beautiful. They have this distinct charm that mirrors our ancient heritage with stories that make you appreciate them even more.
With the help of fashion designers, social entrepreneurs, and the government, our local tapestries are merged with design innovations, creating new closet staples that are the epitome of patriotic style. But, like all great things in the world, it comes with a price. In the case of these artisanal work, its price tag may not be that affordable for the regular Juan.
Among social enterprises championing local textiles, it is hard to find at least a blouse that costs below the P1,000 mark. Wearable pieces are marked from P1,500 and above while accessories start at P600.
We know what you’re thinking. Why is it that something made by Filipinos with materials sourced in the country would cost that high? We want to own and wear weaves proudly, but they’re just so expensive.
With its Transparency Thursdays series, homegrown brand ANTHILL Fabric Gallery aims to share on how it puts a price on its products and where does every cent their clients pay goes to. The brand’s Anya Lim, co-founder, managing, and creative director, and Jessica Ouano, chief sustainability and innovation officer and textile and apparel designer, reveal their business processes and talk about the intricacies of supply chain with their personal insights about their work. Here are some of our takeaways.
The work that goes into every piece
Although local brands like ANTHILL doesn’t mass produce their products like other retail giants, it still goes through the same process of product creation, which involves sourcing materials, drafting a good design, and prototyping. Jessica stresses that this part usually takes longer compared to the actual production as weavers create the textiles from scratch and repairs have to be made before approving a design.
“That in itself, I think, is something that is incorporated into the cost because we don’t realize how much repairs we have to make,” Jessica says. “We have to realize that our fabrics and our pieces are not fully ready-to-wear, off-the-rack garments. We don’t use cutting machines, we don’t do large scale production. Everything is made by hand. It takes time to create the pattern and cut each piece.”
Another thing they point out is that every step involves people. Being labor intensive means a high manpower cost and other operation expenses. As Anya says, “when it is made by hand and it is made by people, there is a propensity of having a lot of human error. We also have to account for that in order for us to be sustainable.”
Building a sustainable business
In an estimate, Anya tells that 42 percent of the price of a product is allotted to labor cost. The brand ensures that its staff and partner communities earn a minimum wage for their work. Labor accounts the highest in their cost tabulation and this helps them get the impact they’re working on, “which is to provide a sustainable livelihood.”
While a portion of their profit margin goes to one of the brand’s initiative, the Community Enterprise Development Program, where the brand use the “money to reinvest in capacity building.”
“We want to professionalize the way they do their business so they can work on their own,” Anya says. “The reason why costs are high is because we work with grassroots communities, production partners, and weaving communities that are not ‘professional’ in the sense where there is so much support needed from our end… But the ultimate goal is that we are able to pass on these business skills so that they can reach out to customers directly and lower the cost because we are not involved anymore in that process.”
Value of your purchase
Unlike in other businesses, the law of supply and demand doesn’t pretty much work for the social enterprise, wherein producing more could lower the price. In the beginning, one of the biggest issue that ANTHILL was trying to address was about sustainable economic opportunities among weaving communities. In that situation, there wasn’t a lot of demand that can give weavers a consistent livelihood.
There is also a cultural problem wherein most of the weavers are in their elder years and the younger generation aren’t interested in learning how to weave—an issue of cultural transmission or continuity.
“Young women didn’t want to learn the craft that is why it is a dying industry,” Anya muses. “When we approached communities. They didn’t know how much to price their weaves. They were priced so cheap and unfairly that’s why it wasn’t something they can see doing in the long run.”
At first, the brand followed that price range, selling weave at a lower price, to create the demand. But now that many brands are now using weaves and many customers understand the importance of preserving culture, they were able to increase the price, ultimately, giving artisans and weavers a larger wage and make them see their craft more as a profession than a side hustle.
“We want to be able to give the weavers the value they deserve,” Anya says. “So now we tell them to price their work right. If we go back to how it used to be, that because of the demand we are going to price them cheap, then we are just going back to square one and have these weavers undervalue their craft and their talent, not see themselves as designers, not see the potential to make weave forever.”
“The reality is, with the way that we work and the people we work with, it’s just not possible. We do not benefit from economies of scale the way fast fashion brands do,” Jessica says. “I personally feel that fashion shouldn’t be cheap. I believe in the concept of saving your money to buy something that is in good quality. Where you know people are paid fairly and your purchase goes toward a cause that you believe in.”
Source: Manila Bulletin
Eve Sleep, a direct-to-consumer sleep wellness brand operating in the UK, Ireland and France, has reported 6 per cent revenue growth to £25.2 million in its fiscal 2020 ended on December 31, 2020 compared to the sales £23.9 million in the previous fiscal. The company’s loss after tax for FY20 reduced to £2.0 million (FY19: £12.1 million).
“Eve’s rebuild strategy is essentially complete, six months ahead of plan. We move now to accelerate our business, with a mind to leveraging our strong brand, efficient marketing, high performing products and excellent customer service to allow us to diversify across markets, channels and categories,” Cheryl Calverley, CEO of Eve Sleep, said in a press release. “But we do so carefully. Successful e-commerce businesses win through balancing growth, with customer experience and business resilience, and we will do the same.”
Gross profit for the year rose to £14.4 million (£12.7 million). Whereas, operating loss decreased to £2.4 million (£12.5 million).
Geographically, Eve Sleep’s revenue in UK & Ireland increased 11 per cent to £20.5 million (£18.5 million). However, France’s revenue dipped 14 per cent to £4.6 million (£5.3 million).
“We seek sustainable, profitable growth and will avoid growth at any cost, and certainly to the detriment of customer experience or business resilience. We’re excited about the opportunities the next few years bring, and we now have a business ready to grasp those opportunities,” Calverley said.
Source: Fibre2Fashion News
Amongst plastic, paper, stainless steel, glass, vinyl and cotton fabric, cotton fabric was the material with the lowest half-life, implying that the COVID-19 virus dies faster on this type of surface compared to paper surfaces, according to independent research. Consumers do not see textiles as a relevant path for contamination of COVID-19, according to the European Union (EU).
Using updated data for the use of energy and water in washing of laundry decreases the climate impact from the use of textiles to only half of the impact from disposables, when comparing previously performed life cycle assessments (LCAs) of textile and disposable table linen.
Recycling of textile fibres, use of alternative fibres in textile-production and increased use of non-fossil energy in the washing process, are continuously decreasing environmental impacts from textiles, the EU noted in an analysis.
Multi-use of textile table linen in circular processes is already preferable to use of disposables, and several ongoing processes strongly y point at further environmental benefits from use of textile table linen as compared to disposables in the future.
Each job created in textile service industry creates another 0.25 indirect and induced jobs. The European and the US textile service sectors together support almost 330 000 jobs in all.
The diversity amongst workers in the sector clearly reflects the important role that the laundry and textile service industry has for the provision of jobs and opportunities for foreign-born people. The textile service industry is a motor for integration in countries through-out the world, the EU said.
Choosing textile table linen generates jobs locally through textile service companies. Supporting the sector is, therefore, utterly important in times with rising unemployment, the EU added.
Source: Fibre2Fashion News
