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  • The global export of synthetic staple fibres, not carded, combed or otherwise processed for spinning of acrylic or modacrylic decreased 20.48 per cent from $593.28 million in 2017 to $471.78 million in 2019. Total exports fell 21.67 per cent in 2019 over previous year and is expected to rise to $572.15 million in 2022 with a rate of 21.28 per cent from 2019.Pic: ShutterstockThe global import value of synthetic staple fibres of acrylic or modacrylic was $1,026.00 million in 2017, which slipped 26
  • UK-based premium clothing retailer Superdry has secured a 70 million pound (roughly US $ 91 million) lending facility to help tide over the tumbling sales during the pandemic.Image Courtesy: superdry.comThe Group’s share prices have fallen 77 per cent so far after its stores remained closed during lockdowns.That being said, the retailer’s performance has picked up in the last 3 months up to July-end helping total sales decline lesser than expected to 24.1 per cent.Online sales saw a 93.2 per cen
  • One of the promising export sectors of Bangladesh, the leather sector has been struggling. After apparel, the leather, leather goods and leather footwear is the lone sector fetching over $1 billion from export every year since fiscal 2011-12 except for last fiscal year.On top of it the COVID-19 pandemic reduced the global consumption of leather products – the leather exports in the month of July was down by 15.23% to $106.1 million, according to data from the Export Promotion Bureau.Figure 1:Ban
  • Mohawk Industries, a global flooring leader, posted 21 per cent sales decrease to $2.04 billion in its second quarter (Q2) fiscal year 2020 ended on June 27, 2020 compared to the sales of $2.58 billion in same period previous year. Company reported a net loss of $48.2 million during the quarter compared to net income of $202.4 million in Q2 FY19.Pic: Mohawk IndustriesGross profit dropped to $369.9 million (Q2 FY19: $736.6 million). Selling, general and administrative expenses for Q2 FY20 were $4
  • The global trade of twine, cordage, ropes and cables (whether or not plaited or braided and whether or not impregnated, coated, covered or sheathed with rubber and plastics) of polyethylene or polypropylene has declined in 2019. However, the total trade rose 5.26 per cent from $2,059.75 million in the year 2017 to $2,168.14 million in 2019.Pic: ShutterstockThe total trade of twine, cordage, ropes, and cables of polyethylene or polypropylene declined 2.50 per cent in 2019 over the previous year a
  • If ever there was a time for the footwear industry to onboard 3D technology that time is now. Because the increasing reliance on digitization within footwear design and production, especially as design teams work from home, leaves very little room for inefficiency within the product development process.In addition to that, no longer can companies send their factory partners a sketch of a shoe and hope that they get it right on the first try, or waste time and product sending samples back and for
  • Adler Modemarkte, a textile retail chain in Germany, has reported 52.5 per cent revenue decline to €64.9 million in its second quarter (Q2) fiscal 2020 ended on June 30, 2020 compared to revenue of €136.7 million in same period previous year. Company’s operating expenses for the quarter were down 14.2 per cent to €24.3 million (Q2 FY19: €28.3 million).Pic: Adler ModemärkteEBITDA during Q2 FY20 reported a loss of €6.9 million compared to earnings of €27.4 million in same period previous year. Net
  • In consonance with the Government of India's vision of “Minimum Government and Maximum Governance”, a leaner government machinery and the need for systematic rationalisation of government bodies, the Government of India has changed the status of eight existing textiles research associations (TRAs) from 'affiliated bodies' to 'approved bodies'.Pic: Shutterstock"All TRAs do hereby cease to be ‘affiliated bodies’ of the ministry of textiles. The eight (8) TRAs shall hereaft
  • Walmart-owned Bangaluru based company Myntra has gone international joining up with the Middle East real estate giant Emaar Group’s e-commerce platform Noon.com and fashion portal Namshi.com to offer fashion-forward brands in the region. These brands and styles were chosen based on regional trends and consumer preferences.Figure: Walmart’s Myntra expands its fashion brand in the Middle East with 5X growth aimBoth Noon and Namshi are a conglomerate located in the UAE. Noon is a horizontal e-comme
  • Pakistan’s commerce ministry is busy trying to get the Textile Policy 2020-25 approved from the Economic Coordination Committee (ECC) as unless it policy is implemented, rise in exports is not possible, according to adviser to the prime minister on commerce and textile Abdul Razak Dawood, who recently said the ministry is working on the procedures on how to implement it.Prime Minister Imran Khan approved the policy several months back.Supporting the demand of the textile sector for continuation
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