INTERNATIONAL
Textile Raw Material Price 2015-12-02
|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1041.63 |
USD/Ton |
-0.07% |
12/2/2015 |
|
VSF |
2204.99 |
USD/Ton |
-0.84% |
12/2/2015 |
|
ASF |
2024.75 |
USD/Ton |
0.00% |
12/2/2015 |
|
Polyester POY |
997.16 |
USD/Ton |
-0.16% |
12/2/2015 |
|
Nylon FDY |
2395.37 |
USD/Ton |
-0.97% |
12/2/2015 |
|
40D Spandex |
5227.68 |
USD/Ton |
0.00% |
12/2/2015 |
|
Nylon DTY |
1042.41 |
USD/Ton |
0.00% |
12/2/2015 |
|
Viscose Long Filament |
2676.26 |
USD/Ton |
0.00% |
12/2/2015 |
|
Polyester DTY |
5817.54 |
USD/Ton |
0.00% |
12/2/2015 |
|
Nylon POY |
1240.6 |
USD/Ton |
-0.31% |
12/2/2015 |
|
Acrylic Top 3D |
2223.71 |
USD/Ton |
0.00% |
12/2/2015 |
|
Polyester FDY |
2200.31 |
USD/Ton |
0.00% |
12/2/2015 |
|
30S Spun Rayon Yarn |
2824.51 |
USD/Ton |
0.00% |
12/2/2015 |
|
32S Polyester Yarn |
1638.53 |
USD/Ton |
-0.94% |
12/2/2015 |
|
45S T/C Yarn |
2637.25 |
USD/Ton |
0.00% |
12/2/2015 |
|
45S Polyester Yarn |
1810.18 |
USD/Ton |
0.00% |
12/2/2015 |
|
T/C Yarn 65/35 32S |
2247.12 |
USD/Ton |
-0.69% |
12/2/2015 |
|
40S Rayon Yarn |
2996.16 |
USD/Ton |
0.00% |
12/2/2015 |
|
T/R Yarn 65/35 32S |
2574.83 |
USD/Ton |
0.00% |
12/2/2015 |
|
10S Denim Fabric |
1.09 |
USD/Meter |
0.00% |
12/2/2015 |
|
32S Twill Fabric |
0.92 |
USD/Meter |
0.00% |
12/2/2015 |
|
40S Combed Poplin |
1 |
USD/Meter |
0.00% |
12/2/2015 |
|
30S Rayon Fabric |
0.74 |
USD/Meter |
0.00% |
12/2/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0.00% |
12/2/2015 |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY 0.15605USD dtd. 02/12/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
curb the massive pollution caused by the textile industry, the government has directed it to adhere to the 'Zero Liquid Discharge' (ZLD) norm. ZLD essentially means that a factory recycles all effluents and doesn't release even a drop into the environment. The draft notification issued in this regard appears strict, but a closer study reveals that it could do more harm than good, to both the industry and the environment. Perhaps, this is a consequence of the environment ministry's zeal to get quick results. Not surprisingly, even before the policy gets legal standing, it's facing strong criticism.
What's in the draft notification?
All textile units - dyers, cotton or wool processors, integrated factories - that generate over 25 kilo litre effluents daily must install Zero Liquid Discharge effluent treatment plants. Water recycled by these plants will be reused. The units won't be allowed to draw groundwater except to make up for the shortfall and for drinking, as assessed by the respective State Pollution Control Board or the Pollution Control Committee. After the notification is approved, the units will have 30 months to set up the treatment plants. They won't be allowed to operate if they fail to comply. The units that already have effluent treatment plants will be required to make them ZLD compliant. Until upgraded to ZLD, the existing treatment plants will follow the "effluent discharge standards as specified in the Environment Protection Rules, 1986".
What's the need for ZLD?
The textile industry is a heavy polluter, so much so the courts have had to close some factories, including at Vapi in Gujarat and on the banks of Noyyal river in Tamil Nadu in 2011. Mostly, the pollution is caused by untreated or partially-treated effluents from the units released into streams, rivers, oceans. It destroys the water quality of these water bodies and also contaminates aquifers. Gujarat's Vapi Industrial Area, which comprised 22 textile units, for example, all but destroyed the area's ecosystem before it was closed down in 2011. Several NGOs are waging legal battles to stop the industry from polluting their environs. Vanashakti, for example, is fighting a case in the National Green Tribunal to stop pollution of Ulhasand and Waldhuni rivers near Mumbai. The draft notification is seen as the first serious first step in cleaning up the mess created by the textile industry.
What's wrong with the notification?
Seemingly, the draft policy is meant to force the textile industry to clean up its act, "Zero Liquid Discharge" implying a complete stop to the release of any pollutants. That isn't quite the case. Even when effluents are treated in a ZLD plant, sludge remains, and it needs to be dumped. Currently, the industry is mandated to treat the effluent so that its "pollution load" is within prescribed limits and then release it all, including the sludge, into the ocean. The sludge generated by the ZLD process, however, will be too concentrated to release in this way. So, it has to dumped in the traditional manner.
According to a broad estimate, a textile unit that generates 100 tonnes of effluents will end up generating 500 tonnes if they cut the COD down to 200mg/litre. COD, or Chemical Oxygen Demand, is a measure of water pollution. "This will create the issue of dumping the sludge. In Dombivli Industrial Area near Mumbai, there are around 400 textile units. Imagine how much sludge they will generate. And where would it all be dumped?" asks Rajesh Gajra, an environmental consultant with expertise in setting up effluent treatment plants. "How will the government handle dumping of this sludge when it's struggling with municipal solid waste management." "Moreover," Gajra adds, "the lichet that will percolate through the ground from the heaps of sludge, wherever it's dumped, will contaminate aquifers. This means the very purpose of ZLD policy will be defeated."
That's not all. "If all units go the ZLD way, it will be nothing less than a disaster," Gajra says. "It's a high power-consuming process. The amount of power required isn't currently available. So, the government will either have to enhance power generation or ask the factories to set up captive power plants." "If the latter is agreed upon, everyone will go for a thermal power plant. With such a large number of textile units in the country, just imagine the amount of carbon emissions." According to Stalin D, project director of Vanashakti, "this is a classical example of how policies should not be formulated". "Instead of going into the depth of the issue, the government has issued this draft notification in haste," he says. "I think it's an attempt by the government to project itself as a forerunner in combating climate change. But the notification in its current form will never serve the purpose."
How will it affect the industry?
Mostly, the industry is likely to suffer financially if the policy is implemented. "The ZLD system is very costly. Small and medium scale industries can't afford it even if they go for a common facility. So, they will have to down their shutters," says the director of a textile company based in Ahmedabad. "As a result, the Indian textile market will be thrown open to the Chinese." It's vital for the industry's health that the government "gives a second thought to the policy", he adds. "The notification is nothing less than an attempt to save a finger and cause gangrene to the entire body," says the director of a textile factory in Mumbai who did not want to be named for fear of reprisal. "Instead of coming out with these high-headed policies, the government should strictly implement existing rules and encourage bio-remedial procedures." He claims bio-remedy - a more sustainable practice of treating effluents using multiple plants, widely being used in Israel - will not only completely treat the effluents, but also create good landscapes in industrial clusters.
SOURCE: The Catch News
While the RBI has made a correct assessment of the global trade slowing down further due to waning demand and commodity price crash, it has not suggested or spelt out any specific measures to help Indian exporters who are facing tough times with exports declining for 11th month in a row, said chairman of the EEPC India Mr T S Bhasin. He said, at a time when the key markets of the US, Europe and Emerging Economies are showing consumer resistance, some out of the box solutions are needed to help the exports, particularly in the engineering goods which are produced pre-dominantly by the SMEs and are highly labour intensive. He said the fast moving and deteriorating events in the West Asian economies and their impact on markets like turkey are also taking a toll on the exports.
SOURCE: The Economic Times
Early signs of a turnaround are visible in some export sectors such as readymade garments, pharmaceuticals and electronics despite persistent weakness in global trade, the Reserve Bank said. In the external sector, exports contracted for the 11th month in a row in October, indicating the persisting weakness in global trade, RBI said in its 5th bi-monthly monetary policy review statement in the current fiscal. "Excluding petroleum products, however, the decline in exports was more moderate and early signs of a turnaround are visible in respect of readymade garments, drugs and pharmaceuticals and electronics," it said. These sector together contributes about 14-15 per cent in the country's total exports. With global commodity prices, especially those of crude, softening further, both petroleum products and non-petroleum products exports continued to contract, it added. It also said that the decline in bullion imports despite the festival season helped narrow the trade deficit in October as well as over the financial year so far, moderating the current account deficit further.
Further it said that the global trade has slowed further with waning demand and oversupply in several primary commodities and industrial materials. India's exports remained in the negative territory for the 11th month in a row by registering a dip of 17.53 per cent in October to$21.35 billion. Exports contracted due to steep decline in shipments of petroleum products (57 per cent), iron ore (85.5 per cent), engineering (11.65 per cent) and gems and jewelery (12.84 per cent) amid a global demand slump. The cumulative exports during April-October this fiscal came down by 17.62 per cent to$154.29 billion as against$187.2 billion in the same period last year.
SOURCE: The Economic Times
A day after official data showed high growth in the manufacturing sector, a record since the new gross domestic product series came out, the widely-tracked Nikkei purchasing managers’ index had quite a different story to tell. Manufacturing activities fell to a 25-month low in November because of a slower increase in new work and output. Subdued demand prevented firms from hiring more hands. Input inflation rose at the quickest pace since May. Output prices were not raised that much, which prompted experts to call the Reserve Bank of India (RBI) to cut rates to spur growth, minutes before the RBI was to unveil its monetary policy review. PMI fell to a 25-month low of 50.3 in November, from 50.7 in October. A reading above 50 marks expansion of the sector, while a score below this level means contraction. On Monday, the official GDP data was released for the second quarter, ended September 2015. That data showed that manufacturing rose by a record 9.3 per cent in three months. This was the highest growth since the new GDP series came up from 2011-12.
After record factory production growth in GDP data, manufacturing PMI at 25-month low Manufacturers indicated that new business inflows rose in November, marking a 25-month sequence of expansion. That said, the rate of growth was the weakest over this period. There were reports that growth of new work was hampered by subdued domestic demand and competitive pressures. Mirroring the trend for new orders, production increased at the softest pace in the current 25-month sequence of expansion. Sub-sector data highlighted consumer goods as the best performing category, while operating conditions at intermediate companies deteriorated for the first time since December 2013. New business from abroad increased further in November. Albeit slight, the rate of growth was the strongest in three months. New export orders rose at consumer and intermediate goods firms, while a contraction was seen in the capital goods category.
According to government data, merchandise exports declined for 12 consecutive months in October. Following a marginal increase in the prior month, manufacturing employment in India was broadly unchanged in November. This was signalled by the respective index recording only fractionally above the no-change mark of 50. Outstanding business held by Indian goods producers rose in November, amid evidence of delayed payments from clients and labour shortages. Inventory levels decreased during November. Stocks of purchases declined for the first time in one-and-a-half years, which panellists associated with falling quantities of inputs bought. Holdings of finished goods were depleted at a marked rate, which was the second-fastest in three years. Input cost inflation accelerated to the strongest in six months during November, but remained below the long-run series average. Companies reported higher prices paid for metals, textiles and food. Factory gate charges were subsequently raised. The rate of inflation was, however, only marginal. Pollyanna De Lima, economist at Markit Economics, which is the compiler of the PMI survey, said, “The slowdown in growth combined with weak inflationary pressures support further rate cuts. Input cost and output charge inflation as measured by the survey were much lower than their respective long-run averages.”
SOURCE: The Business Standard
To arrest the exodus of investors from the Special Economic Zone (SEZ) scheme entirely benefitting the SEZs/FTZs/EZs in China, UAE, Malaysia, Thailand, Vietnam etc, industry body Assocham has advocated a single window clearance mechanism, ease of doing business and fiscal incentives both direct and indirect. In a press release, Assocham said it has submitted a note to the Commerce and Industry Minister. Assocham said that currently there are 416 SEZs which have been formally approved, out of which 330 SEZs have been notified. Further, out of 330 notified SEZs, only 202 SEZs are were operational as on March 31, 2015. Nearly 3,900 units/ companies have set up their operations in these operational SEZs by making cumulative investment of Rs 2,88,477 crores. The SEZs have created direct employment for more than 12 lakh people. It is estimated that nearly double the number of indirect employment is generated outside SEZs by the Domestic Tariff Area (DTA) units which are doing business with SEZ Units and/ or Developers. All this has been delivered by only 202 operational SEZs. “If the entire 416 SEZs become operational, there will be quantum jump in exports from SEZs, development on industrial infrastructure and foreign investment into India”, said D S Rawat, Secretary General of Assocham.
There has been massive exodus from SEZs of late. In fact, until 2013, there were nearly formally approved 580-SEZs, of which over 150 SEZs have been de-notified or have exited from the SEZ scheme in the last 2 years. This massive exodus from SEZs is mainly attributable to the factors like unstable policies relating to availability of fiscal benefits promised under the SEZ Act (particularly, policy relating to taxation), challenge of maintaining attractiveness of the SEZ Policy after imposition of Minimum Alternate Tax (MAT) on SEZ Units and Developers, and imposition of Dividend Distribution Tax (DDT) on SEZ Developers, evident lack of pro-business stance of the Government (instead, Government's stance has been predominantly pro-revenue most of the times), lack of clarity about implication of proposed Goods and Services Tax (GST) on SEZs, issues relating to effectiveness of the Single Window Mechanism and lack of coordination across departments at the Central and State Government level.
SEZs have already a legislation in place (SEZ Act, 2006), which lends tremendous credibility to the SEZ policy and instils confidence amongst the domestic and global investors. The entire ethos and purpose of the SEZ Act/ Rules were to provide to the foreign investors simplified procedures for development, operation, and maintenance of the SEZ and for setting up units and conducting business in SEZs. The SEZ Act that came into effect on February 10, 2006, seeks to provide for drastic simplification of procedures and for single window clearance on matters relating to central as well as state governments and most importantly simplified documentation with an emphasis on self-certification making it convenient for foreign investors to come and set up their businesses in India. According to Assocham, these SEZs could be the best bet for the Government's “Make in India” policy, as sizeable land is already available for generating economic activity. “The Government could support the operational SEZs to optimally utilize their potential/ capacities by creating supportive business environment”, said Rawat.
SOURCE: Fibre2fashion
In spite of the global economic crisis, there has been a healthy change in the attitude at Kerala that does not have an industry friendly environment. The Kerela micro, small and medium enterprises sector is witnessing a robust growth, said Industries Minister P.K. Kunhalikutty. The Minister launching the logo of the Kerala Machinery Expo 2016, here on Monday said that though the textile and cashew industries are surviving on government support, success stories in industries sector are too many. The expo is being organised by the Industries Department, aims to bring technology and machinery from all over the country to upgrade facilities and improve productivity in the MSME sector. The Expo would provide technology and equipment at the doorstep of the entrepreneurs. The expo will be held at the ADLUX Convention Centre at Angamaly in Ernakulam from January 27 to 30. It would feature food processing, garments, rubber and plastics, ayurveda, electronics, handicrafts and such others.
SOURCE: Yarns&Fibers
Export Import (Exim) Bank today said it has inked an agreement with its counterpart in Malaysia to strengthen financial cooperation. The memorandum of understanding (MoU) will also help guaranteeing and other financial mechanism to support projects of interest to both the banks, Exim Bank said in a statement. "While both these institutions are cooperating with each other under the umbrella of Asian Exim Banks Forum, through this MoU, both these institutions intend to identify areas of cooperation in providing funding support for Indian companies setting up operations in Malaysia, and Malaysian companies setting up operations in India," the statement said. The pact was signed by Yaduvendra Mathur, Chairman and Managing Director, Export-Import Bank of India, and Norzilah Mohammed, Acting Chief Executive Officer, Export-Import Bank of Malaysia Berhad, in Tokyo on the sidelines of the Annual Meeting of the Asian Exim Banks Forum (AEBF).
Under the MoU, both banks shall also endeavour to finance infrastructure and other projects in third countries where Malaysian and Indian enterprises are involved. It will also help promote economic cooperation and industrial development as per their respective mandates. Also, possibilities of financing in local currencies of eligible projects, including project finance, equipment financing, export and import financing, overseas investment financing, will also be explored. "The MoU further enhances the scope of information and knowledge sharing between the two banks," the statement added.
SOURCE: The Economic Times
India will continue to resist pressure from certain developed countries, including the US, at the World Trade Organisation (WTO) to allow development issues of the on-going Doha round to be buried at the meeting of trade ministers in Nairobi later this month, despite a draft ministerial declaration hinting at its imminent closure. New Delhi draws its strength from about 100 developing and least developed countries that support its stand and want the Doha Development Agenda to continue, a Commerce Ministry official said. “We are not alone in our demand that all unfulfilled promises to poorer countries outlined in the Doha Development Agenda be met before the WTO embarks on something new. With about 100 countries supporting us, which includes the African group and the ACP group that have already made representations saying so, we do not run the chance of being isolated at Nairobi,” the official told BusinessLine. India has also submitted a joint proposal with China, Ecuador, Indonesia, South Africa and Venezuela to the WTO stressing on the importance of continuing with the Doha Development Agenda. If the Doha development round, launched in November 2001, is allowed to be abandoned, it will give an opportunity to rich countries to bring in new issues such as labour, environment, e-commerce, investment and competition policy into the WTO – something that India has been steadfastly opposing.
The development agenda of Doha, where rich countries are supposed to take on greater commitments to open up markets in goods and services compared to developing countries will then be dropped. A draft ministerial text, floated by three facilitators appointed by the WTO Secretariat last week, hinted at the possible drawing of curtains on the Doha round. Without spelling it out in exact words, the draft expressed regret that an agreement has not been reached on all areas of the negotiations, including agriculture, NAMA (industrial goods), services, rules, including fisheries subsidies, and TRIPS (intellectual property). “The draft could be next modified to say that since there is no agreement on a work programme for Doha round issues, it was not possible to continue the round. We are fighting against that possibility,” the official said. The draft doesn’t talk about finding a “permanent solution” to India's problem of treating food procurement subsidies, but since the facilitators said in their covering note that all contentious issues are being avoided, it could be added later, the official said.
New Delhi is satisfied with the draft specifying that the principles of special and differential treatment and less than full reciprocity for developing and LDC members shall remain integral parts of the WTO’s future work. However, it may not go down well with the US. Delegations will meet on December 2 to discuss the draft floated by the three facilitators and see if it could be taken forward.
SOURCE: The Hindu Business Line
A state-of-the-art textile finishing plant is being set up in Russia's Rostov region by consumer goods firm and clothing manufacturer BTK-Group to manufacture textile dyes for the domestic market. Russia's State Fund for the Development of Industry has granted a loan of RUB100m (US$1.5m) for the creation of the new centre, amounting to 30% of the total project budget. The venture is scheduled for completion in the first quarter of 2017. Owned by BTK-Group, the centre will operate under the leadership of Austrian textile expert Dr. Klaus-Juergen Wolf, and 16 other textile experts from India, Italy, Croatia, Germany, Denmark, Switzerland, Israel, Greece, South Africa, Italy, and Greece. They will train the Russian workforce and hand over the operations after an adaptation period. The plant will feature dyeing, finishing, printing and coating, and steaming machinery from brands such as Then-Fongs, Monforts, Andritz/Kuesters, and Zimmer.
At present, around 95% of all textile dyes used by Russian manufacturers of fabrics are imported, and only one similar finishing facility exists in the Rostov region, according to BTK-Group. The new facility will produce acid, disperse and reactive dyes, and it will have a production capacity of 3,000 tons of dye per year, allowing BTK a 30% share of the Russia and CIS textile dye market. "The problem with many manufacturers is the shortage of quality dyes for textiles," said Viktor Evtukhov, Deputy Minister of Industry and Trade. "Most buy from foreign suppliers: Germany, Switzerland, and China. In terms of national currency devaluation this greatly increases the cost of production of textiles. Unfortunately, the Soviet Union's largest manufacturing process for the production of dyes has been partly lost."
Evtukhov said the raw material base for the production of dyes in Russia at present is hydrocarbons and petrochemicals. "I believe the emergence of modern production will be a breakthrough…and will meet the requirements of safety and quality design." Sergey Bazoev, general director of BTK textiles, added: "BTK textiles, for the needs of their textile factories in the Rostov region and the Altai territory, has to import dyes in the premium segment in Europe in excess of 200 tons per month, which significantly increases the final cost of the textile product, especially given the current exchange rate. Own production of dyes will allow us to more effectively manage the value chain and to provide a high quality product to both domestic and foreign markets."
SOURCE: Just Style
In a bid to promote green environment, Taiwan Eco Textiles encourages textile manufacturers to use Polyethylene terephthalate (PET) bottles. The environmental edge of PET bottle polyester fibres is that they are recyclable, according to Taipei Economic and Cultural Centre in India Executive Director (Economic Division) Guann-Jyh Lee.Lee was in the City to be part of the two-day Taiwan Textile Fair. The fair is organised by Taiwan Textile Federation, supported by the Tirupur Exporters Association (TEA), and the Confederation of Indian Textile Industry (CITI).Lee explains, “The journey where drinking water bottles turn into beautiful dresses starts from the recycle bin around the corner of the neighbourhood. Once the bottles are collected and then crushed, they will be made into staple fibres for spinning, or into filament yarns for weaving, and then are ready for end-product applications.”According to the Environmental Protection Administration, 90,000 tonnes of PET bottles are reclaimed every year in Taiwan, which are equivalent to 4.5 billion drinking water bottles.The production of recycled PET bottle textiles in Taiwan benefits from a thorough reclamation scheme. Consumers are encouraged to recollect used bottles, and there are over 67,000 religious and environmental volunteers in the whole island devoted to reclaiming resources from waste.Lee claimed, “With a complete and comprehensive production system, Taiwan is the kingdom of polyester textiles.” The production and application of recycled PET bottle polyester fibers are optimised with the upstream spinning technologies for functionality, micronisation and compound effects, and the downstream finishing technologies of weaving, dyeing, coating and lamination. Taiwan's position as the most reliable source for functional and ecological textiles was further proved at various international sporting event such as 2014 FIFA World Cup Brazil, where many teams wore jerseys made from recycled PET bottle textiles developed by Taiwanese textile companies.Taiwan Textile Federation Overseas Market Specialist Sean Tsai said, “This time we are showcasing Taiwan's innovative and value-added fibres, yarns, fabrics, trimmings, and apparels. Industry is moving up the value chain and to ensure this movement, we are focused on introducing a new range with a stronger focus on knitted and functional textiles.”
SOURCE: The Deccan Herald
The Vietnam Textile and Apparel Association (VITAS) said that the garment and textile sector exports will grow an average of 11.5 per cent per year from now till 2020. According to the VITAS reports, the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020. Vietnam's garment and textile exports totalled $20 billion in the last nine months of this year, an increase of 10 per cent over the same period last year. Tariffs for Vietnamese garment and textile products will reduce from 18 per cent to zero per cent following the Trans-Pacific Partnership (TPP), and from an average 11 per cent to zero per cent following the Viet Nam-European Union Free Trade Agreement. “If these agreements take effect, then it will boost the growth and development of the garment and textile industry for longer term,” said Vu Duc Giang, president of the Vietnam Textile and Apparel Association (VITAS). Viet Nam has been among the top 10 garments and textile exporters in the world for the last 10 years. The country exports its products to 180 countries and territories, with the United States, the European Union, Japan and South Korea being major markets.
SOURCE: The CCF Group
After a three-year long resolute quest since 2012 by Sri Lanka’s apex export facilitator EDB to link with nine top global retailers, a visiting high powered multinational buyer team has finally linked with EDB and Lankan apparel giants on Nov.27 at Mt Lavinia Hotel. The State Minister of International Trade Sujeewa Senasinghe upon hearing the development over the phone and added that they believe that this breakthrough could help them to move towards their new apparel export target set by the industry. This is a good news for their surging apparel sector. Apparels are Sri Lanka's topmost merchandise exports and in 2014 it earned US$ 4.9 billion –just short of $ 5 Bn. (increasing by 9.2% from 2013). Last week, Sri Lanka’s apparel industry set an ambitious new export target of $10 Bn by 2025. The visiting international buyer team, flown in by EDB, consisted of reps from top fashion retailers of Brazil, Australia, India and Denmark. EDB’s years of efforts to get new markets such as the top international retail representatives, to visit Sri Lanka has worked, said Chairperson & CEO of EDB, Indira Malwatte, addressing the global representatives. This is the first time they are meeting such a group of top, new major buyers in Sri Lanka in one go. Their apparel sector now supplies to well-known labels including Calvin Klein, Gap, Marks & Spencer, and Victoria’s Secret. The reps in the visiting international buyer team were from Brazil (Casas Pernambucanas, Grupo Guararapes, Cia Herring), Australia (Pilot Athletic, Cotton on Group, Bein Sports, and Auluaulu International), Denmark (Day Birger Mikkelsen), and India (Raymond Apparel Limited). They were instantly wowed by the high quality of Lankan apparel produce, and promptly embarked on EDB facilitated factory visits of Lankan manufacturers on the same day. The buyers also took part in Sri Lanka Design Festival event in Colombo on 26 November. EDB estimates that Brazil’s apparel import market to be worth $2.5 Bn, Australia $6 Bn, and Denmakr $5 Bn.
A top spokesman from leading Sri Lankan apparel maker Hirdaramani Group revealed that they are highly grateful to EDB for linking them to world’s largest textile retailer, Spain’s ‘Zara’ chain. After talks, Zara has entered Sri Lanka and now they started work with them for their requirements. Zara, despite being the world’s largest textile retailer, does not advertise. Zara is owned by clothing group Inditex, which in turn is owned by the Spanish self-made mogul, Amancio Ortega. Spanish mogul Ortega last month briefly surpassed Bill Gates to become the world’s richest man. The Lankan born Australian Nirosha Fonseka (Director Marketing - Auluaulu International–Melbourne, Australia) said that they usually specialize in niche apparels from Sri Lanka-Swim, Beach, Active wear and Lingerie. Among their clients are such labels as Jane Lamerton, MYER, WaterSun. They are happy to say that we brought down a leading Australian fitness fashion label 2XU to source from Sri Lanka. They arrived today and are now in town, meeting with Lankan apparel suppliers. Casas Pernambucanas is one of the pioneering retailers in Brazil market having started almost a century ago said Hamilton Chen (Production Manager-Casas Pernambucanas) and added they have heard of Sri Lanka on and off but it has been largely unknown to them. What he saw during these few hours in Sri Lankan apparel manufacturing factories really impressed and amazed him due to the level of high production quality-very frankly. In fact, they are ready once the price ranges of supplies match their requirements. Casas Pernambucanas is the 14th largest retailer in Brazil with $1.6 Bn revenue. In 2013, it was listed as the number one Brazilian retailer. The EDB’s work to facilitate the buyer delegation started way back in 2012. As a result, a year ago last October, the first ever Lankan apparel industry delegation to Spain’s Inditex took place, again facilitated by EDB. The Lankan delegation took part in a presentation by Echevarria Hernandez (General Director of Communication for Inditex SA) at Inditex offices, Spain.
SOURCE: Yarns&Fibers
