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Apparel 2022-01-24

The Noida Apparel Export Cluster (NAEC): Demands policy intervention to check elevated cotton yarn prices & fabrics to promote apparel exports

24 January 2022, Mumbai:

The Noida Apparel Export Cluster (NAEC) on Sunday sought immediate intervention of the government in containing high cost of cotton yarn and fabrics, saying rising prices are impacting exporters.

NAEC president Lalit Thukral suggested control in cotton exports, removal of 10 per cent cotton import duty, and development of a mechanism to regulate the prices of cotton and other raw materials to support the sector.

Lalit Thukral (@lalit_thukral) / Twitter

"Apparel industry is facing a severe problem of high cost of cotton yarn and fabrics. During the last couple of months the cotton prices have been hiked up to 80 per cent.

The prices of the cotton per candy of 335 kg went to Rs 74,000 from Rs 37,000. In apparel making, 75 per cent of raw material used is cotton," he said.

He added that the unexpected steep price rise of the cotton posed a great challenge to the apparel manufacturers and exporters as it is hurting the production cost, which has been increased many folds.

"Indian exporters are losing export orders and facing tough competition in the global export market.

Moreover, they are also losing confidence of the importers and the buying houses," Thukral said, adding the major reason for this situation is unchecked export of cotton to competing countries like Bangladesh, Vietnam and Thailand.

CREDITS: ET

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Apparel 2022-01-24

Eelam Tamils criticize Raw Mango’s new collection

24 January 2022, Mumbai:

Raw Mango’s new collection has been criticized by Eelam Tamils for resembling the uniform worn by the Liberation Tigers of Tamil Eelam (LTTE). As per The News Minute, Eelam Tamils have criticized Raw Mango’s new Winter/Fall 2021 collection for featuring tiger-striped, militaristic outfits.

Called ‘Sher Bagh’, the collection includes outfits resembling LTTE uniforms. LTTE is the armed guerrilla organisation that fought against the Sinhala-led government’s defence forces during the Sri Lankan Civil War.

Researcher Sinthujan Varatharajan, known popularly by their Instagram handle @varathas, called the collection a commodifying of the resistance aesthetics of living people Others accused the collection of being a rip off of Eala Thamizh women’s guerrilla uniforms.

Raw Mango described the collection as collaboration between Raw Mango and Anjali Singh of Sujan.

However, critics believe, the resemblance to LTTE uniforms is no coincidence. The headgear is similar to the cap worn by Sinthujan notes. Additionally, the uniforms are oversized hinting at the original’s mass-produced quality.

The brand has been criticized for deleting critical comments on its Instagram posts. The collection’s appropriation with military uniforms rankles, says Sithujan.

It banalizes their sufferings and makes it routine, he adds.

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Apparel 2022-01-24

Eelam Tamils criticize Raw Mango’s new collection

Haryana's apparel industry is concerned as the state implements an employment reservation law in the private sector

23 January 2022, Mumbai:

Haryana, a renowned garment manufacturing state, has implemented a 75% job reservation policy in the private sector for residents earning less than Rs. 30,000 per month. This job quota has heightened the industry's concerns, which it describes as "unjustified."

Not just clothes makers, but also retailers and other companies are concerned about the Haryana government's decision. Garment Resources has also underlined how private job reservations for locals will harm the apparel business over a year ago when the matter was presented.

The largest centers of garment and textile-related items are Gurugram, Faridabad, Panipat, and Sonipat. Animesh Saxena, MD of Neetee Clothings in Gurugram and President of the Federation of Indian Micro and Small and Medium Enterprises (FISME), believes that this is harmful to MSMEs because the bulk of their staff is within the Rs. 30,000 pay category, which is subject to employment reservation. He also stated that, sadly, local candidates in many of the needed skill sets are not accessible in sufficient quantities.

Filling vacancies and planning expansion would be a big difficulty for MSMEs. The statute will be in effect for ten years, and the State Government has reduced the residence (domicile) requirement from 15 to 5 years for a person to get a bona fide resident certificate in the state, allowing private enterprises more recruiting freedom.

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Apparel 2022-01-22

Haryana's apparel industry is concerned as the state implements an employment reservation law in the private sector

32nd GGMA NATIONAL GARMENT FAIR 2022 - POSTPONED

24 January 2022, Mumbai:

32nd GGMA NATIONAL GARMENT FAIR 2022 - POSTPONED

NEW DATES : 3rd,4th & 5th MARCH 2022*

*NEW VENUE : HOTEL HYATT REGENCY*
*ASHRAM ROAD, USMANPURA AHMEDABAD

About GGMA

The textile Industry has always played a pivotal role in the industrial and economic growth of our state of Gujarat. The Garment sector of this industry, which has witnessed an accelerated growth over last few years, is still having tremendous potential for growth in today’s era.

GGMA, established in 1990 with just only 150 members is now having over 1500 members as of date. GGMA is fortunate to receive an able support both from state and central government.

We have renowned fashion design Institutes like NIFT providing excellent designers. Our visionary state government having realized the potential in the sector, has set up apparel parks at strategic locations and also planning for domestic apparel park which will go a long way in feeling the progress of the industry.

The Gujarat Garment Manufacturers Association (GGMA) is an alliance of Garment Manufacturers who are together working toward making Gujarat of the most sought after destinations for Readymade Garment Industries in India.

The efforts of GGMA are directed toward making people aware about the business possibilities that the Readymade Garment Business in a Gujarat can provide them.

GGMA also creates a platform to avail business for its Members and promotes their Brands on National & International platform. One such kind of a platform is a National Garment Fair which creates a huge opportunities for each Members.

Not only can it prove to be profitable venture for Manufacturers, but even the buyers and wholesales From across India and other countries also have seriously started considering Gujarat as prospect for garment trade.

We at GGMA have been contributing toward the garment trade development of state and this show acts as a platform to spread those developments to citizen of state as well as the country. GGMA has also responded positively in providing social services in natural calamities like floods, earthquake and tsunami in the state.

We also do a “VASTRA ARPAN ABHIYAN” every year. we also give a SCHOLARSHIP to student in school of Ahmedabad. We also give a momentous to member’s son or daughter who are pass with more than 75 % in 10th and 12 th standard.

MISSION :

Guide…up to Growth Inspiration…up to destination..Surety. up to success.

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Apparel 2022-01-24

32nd GGMA NATIONAL GARMENT FAIR 2022 - POSTPONED

Gokaldas Exports reports rise in net profit

23rd January 2022, Mumbai:

Bengaluru-based garment exporter Gokaldas Exports on Friday reported a big increase in its consolidated profit after tax (PAT) at Rs 30 crore for the December quarter over Rs 6 crore it recorded during the same period of last financial year.

As per The Economic Times report, the company recorded revenue growth of 95% during the quarter at Rs. 524 crore over Rs. 268 crore it achieved for the same period of last fiscal year.

In the December quarter, the company recorded an earning before interest, depreciation & amortization (Ebitda) of Rs. 63 crore, compared to Rs. 24 crore during the corresponding period of last year and Rs 54 crore in the previous quarter as per ET. The company said its Ebitda margin has improved by 3% over the same quarter of the last financial year.

During the last nine months, the company has incurred a capital expenditure of Rs. 42 crore towards capacity expansion and modernization of its business infrastructure.

**The statistics mentioned in the above articles have been sourced from The Economic Times.

Credits: TheEconomicTimes, MoneyControl

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Apparel 2022-01-23

Gokaldas Exports reports rise in net profit

Hans Creations in Jaipur has tripled its hand printing capability

23 January 2022, Mumbai:

The Indian textile sector is doing well and is on the right road, according to recent statistics from both the export and domestic markets.

Not just the giants, but even the micro-level players are expanding and preparing to develop. Hans Creations, a 6-year-old company located in Jaipur with its own dyeing, printing, and sewing operation, has tripled its hand printing capacity and expanded its product offering to include men's shirts and children's clothing.

Currently, the organization produces women's tunics for both export and local markets, with a daily printing capacity of roughly 1,500 pieces.

"Despite the fact that hand printing is around 20% to 30% more expensive than machine printing, we have clients in both local and international markets who demand hand prints, whether block or screen prints." As a result, we grew," said Nitin Koolwal, the company's Director.

10 Best Places To Visit In Jaipur In One Day [2022 Guide!]

He went on to say that, rather than using traditional brick tables for printing, the new tables are built of high-quality iron, and that the new unit ensures smooth worker performance and simple material transportation.

"We have numerous obstacles in the company, but we are optimistic that things will improve in the next two to three months." Nitin said, "Our sample of children's clothes and men's shirts is also doing well."

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Apparel 2022-01-22

Hans Creations in Jaipur has tripled its hand printing capability

Dominor Investment and others invest in startup investment to Zymrat

24 January 2022, Mumbai:

Dominor Investment Holding LLP led a $500,000 (Rs 3.5 crore) seed fundraising round for Zymrat, an innovation-driven performance apparel business.

Angel investors like Aditya Somani, Rashmi Daga, Mahesh Agrawal, Mridumesh Rai, Ankit Somani, and Sunil Goyal participated in the investment round, as did Anicut Angel Fund.

The cash will be used to expand the brand's category, accelerate product innovation, hire talent, and increase brand recognition through brand building.

"We are observing 5x higher demand for our goods in the sector we operate in," Ujjawal Asthana, co-founder and CEO of Zymrat, said in a statement about the fundraising.

Our largest product market validation has been a 40% repeat rate, indicating that we are on the correct track. This investment will enable us to create and produce high-performance, long-lasting, and one-of-a-kind goods employing new technology.``

D2C Performance Wear Start Up Zymrat Secures 500K In Seed Round - BW Disrupt

"Providing clients with world-class sports apparel, based on cutting-edge fabric technology and inspirational designs, is the main driver of Zymrat," said Tushar Singh, managing partner of Dominor Investments Holding LLP. We at Dominar are very delighted to help Zymrat in closing a critical market gap in India, having led two rounds of fundraising at the firm."

Zymrat is an innovation-led performance wear company for men that offers a wide range of items such as training and running t-shirts, shorts, joggers, and outerwear. It was founded in 2018 by Ujjawal Asthana and Ankita.

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Apparel 2022-01-24

Dominor Investment and others invest in startup investment to Zymrat

'Denim Darzi' launches upcycled collection

22 January 2022, Mumbai:

Denim Darzi has launched a new upcycled, sustainable and fashionable range of collection. As per a Fashion Network report, the range includes outfits for men, women and kids. Started around the pandemic in 2020 by entrepreneur Rupali Mukherjee, the brand was born out of sheer love for denims and with an aim to repurpose old denim wear and industry-waste denim meaningfully.

Denim Darzi’s wide collection includes Indian, western and Indo-western styles in various silhouettes from a sari to a dhoti. The brand upcycles post-consumer discarded denims and textile industry-waste denim. It infuses the collected denim with fabric waste from shops and the textile industry to design our collections. Its outfits are a concoction of waste denim and other fabrics like satin, cotton, linen, jamdani, adds Mukherjee.

The brand has tied up with a tailoring unit. It does hand sketches and sends them. The idea was to work sustainably and not have a big production unit. The brand operates only through online platforms.

Apparel 2022-01-22

'Denim Darzi' launches upcycled collection

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI): Bangladesh’s exports to India to grow record high by FY22

22 January 2022, Mumbai:

Bangladesh's exports to the Indian markets are expected to reach $2 billion for the first time at the end of the current financial year as the demand for Bangladeshi products is increasing to the neighbouring country.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) said this in a statement following a meeting between Indian High Commissioner to Bangladesh Vikram K Doraiswami and FBCCI President Md Jashim Uddin at the FBCCI office in Dhaka today.

In the last one year, the trade between Bangladesh and India has increased by 94 per cent, it said.

Bangladesh's exports to India to grow record $2 billion by FY22: FBCCI | The Daily Star

Addressing the meeting, Doraiswami said his country wants to improve trade and investment relations with Bangladesh in the areas of logistics, food processing, automobiles and garments.

He also sought cooperation from FBCCI for strengthening the bilateral trade relations between the two countries.

Md Jashim Uddin said the development of the logistics sector is the prime agenda of FBCCI.

The apex trade body is working to submit a 12-year plan to the government for the development of the logistics sector, he added.

On India's trade potential with Bangladesh, the FBCCI president said India could be a major supplier of yarn and cotton to the garment industry soon.

Doraiswami further said a new gate would be opened soon at Petrapol land port to facilitate the movement of trucks between the two countries.

THE DAILY STAR (The news article has not been edited by DFU Publications staff)

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Apparel 2022-01-21

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI): Bangladesh’s exports to India to grow record high by FY22

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Apparel 2022-01-24

Shoppers Stop posts net profit in Q3 FY22

22 January 2022, Mumbai:

The consolidated net profit of Shoppers Stop reached Rs 77.32 crore in the third quarter ended December 2021. The company had posted a net loss of Rs 25.11 crore in the October-December quarter a year ago.

Its revenue from operations increased by 33.82 per cent to Rs 958.11 crore during the period under review as against Rs 715.97 crore in the corresponding quarter of the previous fiscal. Total expenses increased by 16.23 per cent to Rs 905.14 crore in Q3/FY 2021-22, as against Rs 778.78 crore.

Venu Nair, Managing Director and CEO, says, as the fashion and beauty retail is seeing encouraging early trends from the Wardrobe Reboot, we are rightly poised to capture the pent-up demand.

The company has seen a sustained demand during the festive period and the marriage season in October and November. It has witnessed a high customer spend and a higher Average Transaction Value (ATV), adds Nair.

The company is encouraged by the strong rebound and expects an accelerated growth trajectory now, driven by a robust recovery from the lockdown blues, accelerated small size store expansion, growth in the private-label mix, and an increased focus on high growth beauty business.

Shoppers Stop operates 83 department stores in 45 cities. It also operates 11 premium home concept stores, 129 Specialty Beauty stores of M.A.C, Estee Lauder, Bobbi Brown.

Apparel 2022-01-22

Shoppers Stop posts net profit in Q3 FY22

Industry Data Analytics, report: Global Cashmere Clothing Market To Reach $3,333.6 MN By 2026

22 January 2022, Mumbai:

Estimated to be worth $2844.6 million in 2020, the global cashmere clothing market is expected to be worth $3,333.6 million in 2026 with an estimated growth rate of 4.0 per cent CAGR over the next five year, says Cashmere Clothing Market Report by IndustryDataAnalytics, a digital consultancy company providing research reports across Industries.

China tops both production and consumption

The report states, China is the largest exporter of Cashmere clothing in the world. It exports around 70 percent of the world’s cashmere to various countries.

Italy is its largest importer with imports accounting for 78 percent of total cashmere exported by China in April 2017. China is also the largest importer of Cashmere in the world.

The country’s growing national economy and gradually improving quality of life is driving Cashmere up consumption. Many leading companies like Lara Plana and Brunello Cucinelli are known to import large amounts of Cashmere for their products.

China manufactures Cashmere garments in large quantities. Yet, its brand penetration is low as most of brands operate as OEMs.

This relegates most local brands to the bottom of the Cashmere value chain across the world. US is also a leading manufacturer of cashmere clothing in the world. In 2016, it manufactured about 19 per cent of world’s cashmere production amounting to 3.5 million units.

Global cashmere clothing market to reach 3333.6 million by 2026

Cheap raw materials and labor help Asia dominate

Among the continents, Asia leads global cashmere production due to its low raw material costs and easy availability of cheap labor. This has led to many famous cashmere brands setting up their manufacturing bases across Asia.

The fashion luxury cashmere market is largely concentrated with top 20 brands accounting for 50 per cent of global market share.

The report states, Loro Piana, Brunello Cucinelli, Ermenegildo Zegna, Malo, Alyki, Pringle of Scotland, SofiaCashmere, Autumn Cashmere, TSE, Ballantyne, Birdie Cashmere, Maiyet, Gobi, GOYO, Cashmere Holding, Erdos, Hengyuanxiang, Kingdeer, Snow Lotus, Zhenbei Cashmere are some of the leading players in world cashmere market.

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