INTERNATIONAL
NATIONAL
Raymond’s menswear brand, Raymond Ready to Wear, a major player in textiles and apparel, has inaugurated an exclusive brand outlet in Kanpur, expanding its brick-and-mortar retail presence in Uttar Pradesh. The announcement of the opening was shared by the mall on its social media, celebrating the upgrade in formal wear fashion with the arrival of Raymond Ready to Wear on the mall’s first floor. The diverse collection within the store encompasses formal men’s suits, reflecting Western styles, along with an array of dress shirts and blazers, featuring a spectrum of colours from turquoise to pale pink. Additionally, the store offers a range of smart casual wear such as polo shirts, chinos, and various accessories for men. Raymond, renowned for its brands like Park Avenue, ColorPlus, and Parx, already maintains approximately 10 retail outlets in Kanpur. Its brands have a substantial presence in Tier-4 and Tier-5 cities, with an extensive network of over 1500 outlets across 600 towns and 20,000 points of sale throughout India.rreta
Source: Apparel Resources
On the farthest end of the display is a large-scale depiction of an avalanche, fashioned out of Tyvek, a discarded fishing net, an old saree, beads and sequins: it cascades from the wall on to the white floor. Right in the middle of the layout stand miniature sculptures, some titled and others not, of animals and insects — from a porcupine made of discarded paper to a rather wiry spider, and even a pair of mice, in patchwork and patterns, entrenched in dialogue. An artwork titledAblaze | PhotoCredit: special arrangement On the packed opening night, Kalyani, the brain behind the display, says – amidst being pulled away multiple times to be offered compliments — “All through my practice, I have worked towards and around the environment. I look at Nature as an inspiration. It’s created so beautifully and perfectly.” A visiting professor at National Institute of Fashion Technology, Chennai, she often tells her students to look at the natural world for inspiration, even for something as seemingly easy as colour combinations. “Climate change is a big conversation and I felt I have to contribute in some way to bring awareness to the people, more so to the young.” To that end, boards that hold explainers aided by statistical data, accompany the works on display. “I would like to create a small ripple,” she says. The narrative of the show springs from the waters (marine life), and then moves to the woods and frozen land, separated as three sections. She speaks of an experience that she considers a wake-up call. “Once while driving to Santa Fe, we saw the whole sky turn red, and realised that the forest fires were nearing us.”
An artwork titled UntouchedWoods | PhotoCredit: special arrangement Kalyani, who is also an avid collector of fabric waste, says that while the larger concept was in place, the individual elements were not pre-decided. Their forms would reveal themselves over the course of creating the piece. She points to a vibrant work that represents a tree enclosed in glass, and says, “I started creating these leaves by patching all the fabrics I had together and sandwiching them between a water-soluble sheet and running a machine over it. Hundreds of leaves were created thus. At the same time, we would get some other material which we would spin and make yarns out of. It would grow, sometimes disassemble and grow again.” The display is also home to a community artwork: a loom that invites viewers to engage and pick up pieces of fabric and weave to create a tapestry.
An artwork titledLost in Ice | PhotoCredit: special arrangement Kalyani says that that it took 18 months and a team of three young artists at Common Threads Studio for the show to realise. She concludes, “I wanted the conversation to be brought down to something conceivable. Though the work is abstract, I hope it still sparks a reaction.”
Source: The Hindu
India and the UK are "very close" to achieving a mutually beneficial free trade agreement (FTA) but the aspects left to agree on are the toughest ones, Britain's Business and Trade Secretary in charge of the negotiations has told a parliamentary panel. Kemi Badenoch was answering questions posed by the cross-party House of Commons Business and Trade Committee, which scrutinises the work of the Department of Business and Trade (DBT), on Tuesday when she was asked about the timeline for signing off on the FTA - which has completed 12 rounds of negotiations. The Cabinet minister was specifically asked about some UK media reports suggesting that cricket fan British Prime Minister Rishi Sunak may be planning a return visit to India next month to sign the deal on the sidelines of the World Cup being hosted across the country. "We have never set a deadline. I think this is a very optimistic briefing for newspapers," responded Badenoch. "We are very close. It is possible, but I wouldn't be setting that sort of deadline. We will finish when we finish," she said. Referencing former British prime minister Boris Johnson setting a Diwali 2022 deadline for an agreement, Badenoch reiterated the Sunak-led government's approach of not setting any end dates. "We had the same thing last year, where they said we're going to have a deal by Diwali. Once you set a date, you create problems on your own side. We have always been very, very specific that it's about the deal, not the day. And, we will get there when we have a deal that is mutually beneficial for India and for the UK. We've done quite a lot, so it is close," she said. "It's the Pareto principle, that the few bits left are always the toughest bits," she added. The Pareto principle, also known as the 80/20 principle, is named after Italian economist Vilfredo Pareto and is a phenomenon that states that roughly 80 per cent of outcomes come from 20 per cent of causes. Badenoch reviewed progress with her Indian counterpart, Commerce and Industry Minister Piyush Goyal, during a visit to India last month coinciding with Round 12 of the FTA negotiations. Sunak's visit to New Delhi for the G20 Leaders' Summit earlier this month also concluded with a commitment to an FTA, with the British Indian leader telling reporters that he "won't rush things". Meanwhile, amid a diplomatic standoff between two of its allies -- India and Canada -- over the contentious issue of pro-Khalistan extremism, Sunak's spokesperson at Downing Street reiterated this week that trade talks with New Delhi remain on track. "Work on the trade negotiations will continue as before... when we have concerns with countries we're negotiating trade deals with, we'll raise them directly," the spokesperson told reporters on Tuesday. According to official DBT figures, UK-India bilateraltrade was worth an estimated GBP 36 billion in 2022 -- a figure expected to be significantly boosted with an FTA.
Source: Economic Times
Organised sector brick and mortar apparel retailers are expected to register a 7-8 per cent revenue growth this fiscal, buoyed by festival and marriage season demand, and despite inflation impacting discretionary spending in the first quarter, according to a report. Continued store expansion, including into tier-II and III cities, will also help revenue growth this fiscal and over the medium term, Crisil Ratings said in a report on Wednesday. Despite moderation in topline growth, revenue growth will be comparable to the 8 per cent range seen before the pandemic, the report said. Last fiscal, retailers had seen a strong 38 per cent growth on a low base, driven by swift recovery from the pandemic-induced slump and higher realisations following a steep jump in raw material prices. Operating margins are seen at 8 per cent this fiscal as improving product mix in favour of the premium segment and lower input costs will offset the impact of higher marketing spends, the report said. The pace of store area addition will be at the pre-pandemic level of 2.2 million sq ft in FY24, the report said, adding that it was 3.7 million sq ft in the last fiscal. The Crisil report is based on an analysis of 39 organised apparel retailers, which accounted for a fourth of the Rs 1.9 lakh crore revenue last fiscal. According to Anuj Sethi, a senior director at the agency, demand in the premium segment is rising gradually with consumers increasingly preferring branded garments, driven by return to office and buoyant corporate activity. s is helping offset muted-to-low demand from the economy and value segments, which account for 60 per cent of the revenue, because of changes in discretionary spends, he said. With continuous store expansion, and the onset of the festive and wedding seasons, demand should improve in the third quarter, which normally fetches around 35 per cent of the annual revenue. Operating margin is seen at previous year's level of 8 per cent, despite significant reduction in prices of cotton, the key raw material, as per the report. While store expansion in metros and tier-I cities will continue, retailers are also expanding to small towns, which will be relatively smaller-sized outlets. Hence, the pace of area addition will normalise to pre-pandemic levels this fiscal. That, coupled with continuing investments to augment technology platforms and omni-channel infrastructure, will keep annual capex flat at last fiscal's Rs 2,000 crore.
Source: Business-Standard
Tribal Cooperative Marketing Development Federation of India Ltd (TRIFED) under the Union ministry of tribal affairs will launch the second phase of the ‘Promotion of Tribal Products for North East Region’ (PTP-NER 2.0) scheme from September 21 to November 10, 2023. During the second phase, 29 districts with as many teams of TRIFED, North Eastern Handicrafts and Handlooms Development Corporation (NEHHDC) – Union ministry of DoNER, and state administration teams will travel across the Northeast region, to once again reach out to tribal artisans and showcase their cultural richness and heritage not only to the nation but world over. It may be mentioned that Union minister for tribal affairs, Arjun Munda had launched the central sector scheme, ‘Marketing and Logistics Development for Promotion of Tribal Products from North-Eastern Region (PTP-NER)’, for the benefit of Scheduled Tribes of Northeastern region, in Manipur on April 18, 2023. The scheme was initiated on the same day by TRIFED, with the aim of strengthening and giving impetus to livelihood opportunities for tribal artisans by increasing their production capacity through technology and giving their products access to markets by effective marketing and attractive packaging. In the first phase of the scheme (PTP-NER 1.0), eight states were covered and 38 districts were visited by the teams of TRIFED and NEHHDC, in close collaboration with state administration. These teams conducted 64 tribal artisan empanelment melas in April-May, 2023. With this initiative, TRIFED reached out to 2526 artisans from 44 tribes, empanelling 1056 of them and identifying 1465 for training capsules. As many as 3115 products were procured, ranging from textiles, forest produce, bamboo items, jewellery, pottery, paintings and more.
Source: The Shilling times
INTERNATIONAL
DOMOTEX will once again be the meeting place for exhibitors and visitors from all over the world to exchange information on new products and the latest industry trends. Participants from the skilled trades and specialist retailers can look forward to a new hub: At the RETAILERS’ PARK in hall 19, DECOR-UNION and the MEGA Gruppe — joined by their suppliers — will be exhibiting for the first time in a central area at the heart of the world’s leading trade fair for carpets and floor coverings. The RETAILERS’ PARK invites visitors to think beyond floor coverings and imagine a coherent interior design. Paints and varnishes, wallpapers, coats that protect against UV radiation and many other innovative products are presented to create harmonious interiors.
What’s waiting in the RETAILERS’ PARK From now on, craftsmen, sales staff and buyers from the specialist and wholesale trades as well as builders and architects will be able to obtain a comprehensive overview at DOMOTEX covering everything from floors and walls to ceilings. An open, inviting exhibition area with a central plaza and a daily happy hour make RETAILERS’ PARK the most important hub for the industry. Here visitors can establish new contacts, meet colleagues and get an overview of current topics in the industry presented in a series of lectures and live demos with practical solutions for their day-to-day business. Whether parquet or floor layers, painters or varnishers, sales specialists or professional buyers — the special display provides products and solutions for everyone. Which makes RETAILERS’ PARK unique for all visitors from the skilled trades and retail. “We are delighted that we have been able to win DECOR-UNION and MEGA as strong partners for our new area and to fulfill our trade visitors’ long-standing wish to include the product segments “wall” and “ceiling” in our portfolio”, explains Sonia Wedell-Castellano, Global Director of DOMOTEX Events worldwide. “In conversations with potential visitors, associations and publishers, we consistently receive positive feedback. The interest in our RETAILERS’ PARK is overwhelming!”
DECOR-UNION Branchentage at DOMOTEX 2024 As part of RETAILERS’ PARK, Deutsche Messe is teaming up with DECOR-UNION and Netzwerk Boden, the European trade association for floor coverings, carpets, curtains, beds, wallpaper and paints. In addition to having its own booth at the special display, DECOR-UNION will hold the DECOR-UNION Branchentage (Industry Days) at DOMOTEX for the first time in 2024, taking its participation a step further. “Our wish was to create a new platform for decisionmakers, processors and retailers who interact with products and services in the field of holistic interior design. Craftsmen and retailers often have to sell very different products – for floors, walls, ceilings and facades. Usually, these can only be found at various trade fairs. We want to change this situation with the new RETAILERS’ PARK”, reports Frank Böttner, Managing Director of DECOR-UNION. MEGA offers a wide range of services related to refurbishment, renovation and modernization In addition to DECOR-UNION, the MEGA Gruppe will exhibit at the new RETAILERS’ PARK. MEGA is represented at over 120 locations in Germany and has a network of over 5,600 members and more than 60,000 customers in the painting, flooring and plastering trades. The full range of products for the trade includes paints and plasters, floor and wall coverings, thermal insulation systems, machines and tools, construction technology and dry construction materials. The range includes the most important industry brands for the skilled trades and specialist retailers, as well as MEGA brand products developed specifically for the professional trades. “Together with our industry partners, RETAILERS’ PARK has been created as a platform for exchanges between craftsmen, clients, architects and other players in the construction and real estate sector. Here we bring together a broad range of products, the latest trends and innovations in all aspects of modern interior design,” explains Ines Buchholz, Marketing Manager of the MEGA Gruppe.
Source: Textile world
Bangladeshi-branded denim begins losing its shine -- after having reigned supreme on the global market in 2022 -- amid production-cost escalation for costly inputs. Industry sources say Bangladesh is losing out competitive edge to its competitors like Turkey, Mexico and Pakistan mainly because of high cost of production, mainly pushed up by costly dollar. The country dominated the global denim market with its sustained position as top supplier to two major export destinations -- the United States and the European Union-on a high annualised growth in 2022. Denim exports fetched Bangladesh US$298.75 million from the USA in January-to-June period of this calendar year -- down from 445.52 million in the corresponding period of last year. Mexico, however, surpassed Bangladesh by bagging US$313.27 million during the period despite a negative growth of 13.50 per cent on a year-on-year basis. Pakistan pulled in US$164.95 million from denim exports to the US market, yet marking a 32-percent negative growth. Meantime, USA demand for denim garments declined 29.34 per cent as the country imported this apparel worth US$1.44 billion during the first half of 2023 in a dive from US$2.05 billion in the corresponding period, BGMEA data showed. Also is marked a fall in EU's denim imports from the world by 17.19 per cent during the period. Bangladesh exported denim wears worth US$537.14 million during the first half of 2023--down from US$692.89 million. Turkey took US$488.41 million, recording an over 20-percent fall, and Pakistan earned US$328.29 million against US$410.49 million in the previous period. Bangladesh had earned US$943.70 million and US$1.55 billion from US and EU markets respectively in 2022, turning out as top denim supplier, according to data. The country earned US$561.29 million and US$798.42 million from the US market while US$1.02 billion and US$1.18 billion from the EU respectively in 2020 and 2021, data showed. Talking to the FE writer, Kamran Sadique, director of MBM Group, said global demand for denim items decreased due to high inflationary pressure on the major western markets, fuelled by the Russian-Ukraine war. As impact of the war, oil prices have increased, resulting in a rise in cost of living in importing countries. "As a result, consumers are prioritizing on basic needs like food, housing," he said "And this is true for all major exporting countries. But Bangladesh is losing its competitive edge to its competitors as our cost of production has gone up significantly mainly because of the gas-price hike," he notes about the domestic headwind, too. He used to pay Tk 8.0 million to 9.5 million in gas bill while the amount just doubled after the last gas hike. "Turkey and Pakistan have been getting more work orders and even some orders from Bangladesh shifted there as both the competitor countries can offer lower price compared to Bangladesh due to their currency devaluation," Mr Mahmud says about the exchange-rate differentials. On the other hand, exporters here in Bangladesh did not get the dollar at the rate the authority has fixed, he says, and shows a gap. The problem is likely to persist until the government adjusts the rate with kerb market, he forecasts, citing as an example that exporters are getting Tk 110 per dollar while the market rate is Tk118. Buyers are placing more orders with Turkey as it is near to them while the country has also increased its capacity, according to Mr Mahmud. Besides, Turkey can offer competitive price due to their currency devaluation For the same reason, some orders are also shifting to Pakistan, which used to be previously placed with Bangladesh, he claims. Shovon Islam, managing director of Sparrow Group, however, hopes orders will increase in the coming months ahead of the festivals like New Year and Christmas. He further notes that buyers' inventory has also started decreasing. Mr Sadique also notices trend of placing orders changing. "The long-run orders for single design will be replaced with minimum-order quantity with multi-styles," he explains. To grab such orders, the production line has to be changed which they called 'modular system' with skilled workers who can perform multiple tasks, he suggests, adding that they are getting ready gradually with the transformation and applying sustainable production processes. Responding to an FE query, BGMEA president Faruque Hassan stressed uninterrupted gas-and electricity supply to draw more investment in denim fabrics manufacturing He said, "More than 50 per cent of required denim fabrics are supplied by local textile millers while all types of denim fabrics are produced locally." He, however, says rising domestic yarn price has eroded their competitiveness. The BGMEA president also hopes denim exports will increase as buyers' stock of denim decreased.
Source: The Financial Express
Circ and Colorifix, two companies working to tackle waste in the fashion and textile industry, have been selected as finalists for Prince William’s Earthshot Prize. Both companies have been nominated within the 'Build a Waste-Free World' category for the prize, which was founded to discover, spotlight, and scale climate-positive solutions across a range of different industries.
Source: Ecotextile
Bangladesh desired duty-free-export facility restored on the US market and the United States trade representatives stressed expediting amendment to the labour law and ensuring worker right to form trade union. Such was an inconclusive outcome of the seventh meeting of the United States-Bangladesh Trade and Investment Cooperation Forum Agreement (TICFA) Council, held Wednesday in Dhaka. At the talks the US trade representatives assured Bangladesh of providing necessary technical and other sorts of support. Senior Secretary of the ministry of commerce Tapan Kanti Ghosh and Acting Assistant USTR for South and Central Asia Brendan Lynch co-chaired the meeting held at a hotel. Both delegations consisted of officials from trade, labour, intellectual property, and other relevant agencies. Briefing the media following the meeting, Tapan Kanti Ghosh said the host side strongly urged the US to give duty-free access of Bangladeshi products to the US markets. The privilege on the single-largest market for Bangladesh's singly dominating export item-readymade garments--has long been put on hold over labour issues. To underpin the request for the preferential trade facility, Mr Ghosh mentions that Bangladesh imports around 14 per cent of its total global cotton purchase from the USA. "We have requested them to consider duty-free access on the apparel exported to the US using this cotton," he told the journalists. They have taken notes of the arguments and said they would consider a way out for the apparel imported by the USA which uses such cotton, he said. All developed and many developing countries, excluding the USA, allow duty-free access for Bangladeshi products. Referring to WTO's Hong Kong ministerial conference 2005, Bangladesh requested the US delegates to provide the duty-free access. "We said we have made huge improvement on labour rights and other issues which they were concerned with," he said. "They listened to our plea and said they would discuss the issues with their authorities concerned." The US delegates wanted to know about-labour related issues, including their rights situation in Bangladesh. "They expressed satisfaction over labour union-registration process which has improved significantly," Mr Ghosh said, adding that the USTR was happy with the investigation updates on slain labour-leader Shahidul Islam. Five accused have already been arrested in this connection and they gave their statement ahead of submitting charge sheet, he mentioned. "They expressed satisfaction over the progress; they expect proper trial of the incident." The meeting also discussed intellectual property rights (IPR) as Bangladesh is turning into a developing country. "They said Bangladesh has to enhance the IPR-related laws to a global standard," said the senior secretary. After they were informed of the progress with such law, they vowed to provide necessary technical support for expediting the enforcement of the laws. Bangladesh asked for including it in the Global Financial Cooperation (GFC) fund that supports underdeveloped and developing countries. However, the US counterpart said the conditions to get the GFC fund are almost similar to that of GSP. The US suggested faster amendment of the labour law with all stakeholders' consultation and in line with the ILO's technical recommendations. Responding to a query, he said the US would also consider Bangladesh's request when they regulate GSP or Generalised System of Preference. The US would find a way to provide duty-free benefits to Bangladesh for export of items not on the Sensitive List of the GSP. Highlighting the achievement of TICFA, he said Bangladesh's export to the US has doubled to around $10 billion from eight to nine years ago. Bangladesh sought technical cooperation from the USA in terms of getting support for several more years after graduation from LDC. Bangladesh sought technical cooperation for biotechnology in agriculture, product diversification, new investment, especially in the manufacturing sector, hi-tech like semiconductor and IT sector. A US embassy statement issued to the media said the meeting discussed a range of issues impacting the bilateral trade relationship, most notably labour reforms, as well as policies impacting the investment climate and digital trade, intellectual-property protection and enforcement, and bilateral cooperation in the agricultural sector.
s https://thefinancialexpress.com.bd/trade/ticfa-talks-with-united-states-focus-many-issues 4/12 The United States noted that a tripartite labour law-review committee is reviewing the amendments to the Bangladesh Labour Act (BLA) and encouraged Bangladesh to extend freedom of association and collective bargaining to Bangladesh's Special Economic Zones (SEZs) and the Export Processing Zones (EPZs). "The United States recognized that Bangladesh had undertaken some efforts to address hurdles workers face when registering unions, and stressed the importance of ensuring a simplified and impartial trade union registration process that allows for applications to be registered within the legal timeframe." The US also reiterated its interest in engaging with Bangladesh on ongoing processes for amendments to IP-related laws and regulations, including the Copyright Act Amendments, Industrial Designs Act, Patent Bill, and Implementing Regulations and IPR Enforcement (Import and Export) Rules. In addition, the United States discussed actions needed to address concerns with Bangladesh's ranking as one of the top five source economies for counterfeit clothing globally, as noted in USTR's 2023 Special 301 Report.
Source: The Financial Express
