News
-
US’ Major League Soccer & Adidas extend multi-year partnership
US’ Major League Soccer (MLS) and German sportswear brand Adidas have announced a multi-year extension of their partnership. Under the multi-faceted agreement, Adidas will continue as the official supplier for the league, its clubs, and youth academies. The extension was unveiled as part of a ser...Read more -
Sri Lanka’s garment exports up 10.7% in 2022; down in Dec
Sri Lanka’s garment exports stood at $5,483.1 million during January-December 2022, which grew by 10.7 per cent over the exports of $4,951.5 million in the same period of the previous year, as per statistics released by the Central Bank of Sri Lanka. Its garment exports dropped by 8.7 per cent in...Read more -
UK’s Coats Digital helps Handa digitally transform garment production
UK-based Coats Digital, leading technology solutions provider for the apparel industry, has announced that global fashion manufacturer Handa Industries has selected its FastReactPlan to digitally transform its production processes, enabling it to respond agilely to more complex order requests, st...Read more -
China’s share 27% in US’ imports of leather apparel in Jan-Sept 2022
US imported leather apparel and accessories worth $2.695 billion from China, which was 27.10 per cent of its total imports of $9.944 billion during January-September 2022. The imports registered an impressive growth of 29.46 per cent year on year (YoY). There was no spill over effect of US ban on...Read more -
Apparel imports of Middle East at $3 bn in H1, China claims 31% share
Apparel imports of Middle East stood at $3.108 billion during January-June 2022. Amongst all the exporting nations, China ranked first on the suppliers’ list with a share of 31.43 per cent ($977.016 million), followed by Bangladesh, Turkiye, Italy and India. Asia-Pacific region supplied about tw...Read more -
US imports babywear worth $255.955 mn in July 2022
Babywear imports by the United States has been on a rise since April this year. The imports increased to $255.955 million in July 2022 from $245.802 million in June 2022. The country imported babywear worth $1,633.762 million in the first seven months of this year, while they amounted to $2.414 ...Read more -
Bangla-China JV to invest $15.63 mn to set up garment accessories unit
Bangladesh-China joint venture company Jinqiu Global Textile Bangladesh Ltd will invest $15.63 million to set up a garment accessories manufacturing unit at the Ishwardi Export Processing Zone (IEPZ) in Paksey of Pabna district. The company will annually manufacture 250 million metres and 2 milli...Read more -
Low demand causes south India’s cotton yarn prices to decline further
Cotton yarn prices have declined further in South India today as demand from the downstream industry continues to be low. Cotton yarn prices have eased by ₹5-15 per kg in the Mumbai market and by ₹3-7 per kg in Tamil Nadu’s Tiruppur market. Traders feel that cotton yarn demand is not likely to p...Read more -
European textile exports slide due to energy crisis amid Ukraine war
European textile and clothing industry recently urged the EU to protect the industry from the crisis resulting from exorbitant increase in natural gas and crude oil prices amid Russia’s invasion on Ukraine. Latest export data reflects the crisis as outbound shipment of technical textile and polye...Read more -
US retail sales to grow by 7.1% this holiday season: Mastercard
This holiday season, retail sales in the US excluding automotive are expected to increase by 7.1 per cent year over year (YoY), according to the Mastercard SpendingPulse annual holiday forecast. The key trends to watch include extended holiday shopping; bargain hunting; in-store experiences drawi...Read more -
G20 area’s GDP growth down 0.4% QoQ in Q2 2022
Gross domestic product (GDP) in the G20 area fell 0.4 per cent quarter-on-quarter (QoQ) in the second quarter (Q2) of 2022 after rising 0.5 per cent in the first quarter (Q1), according to provisional estimates by the Organisation for Economic Co-operation and Development (OECD). The contraction ...Read more -
HZ Outdoor to invest $6.03 mn in Bangladesh’s KEPZ for RMG plant
China-Taiwanese company HZ Outdoor International Co Ltd will invest around $6.03 million in Bangladesh’s Karnaphuli Export Processing Zone (KEPZ) to build a readymade garment (RMG) and bag manufacturing plant. An agreement to this effect was signed between Bangladesh Export Processing Zones Auth...Read more -
GGGI in Seoul, Cambodia ink sustainable energy pact for garment sector
Seoul-headquartered Global Green Growth Institute (GGGI) and Cambodia’s ministry of industry, technology, science and innovation and the ministry of environment recently signed an agreement in Kep City to promote sustainable energy practices in the latter’s garment sector to reduce environmental ...Read more -
Cambodia’s 2023 monthly minimum wage reaches $197.86 in talks to date
The latest range in negotiations for next year’s monthly minimum wage for Cambodia’s textile-related sectors is expected to rise to just below $200, the labour and vocational training ministry recently said. Based on seven socio-economic criteria for determining the minimum wage, a minimum ...Read more -
Indonesia may hope investment in textile sector from RCEP, not synergy
Indonesia’s Parliament has given a green signal to the country’s membership of the Regional Comprehensive Economic Partnership (RCEP) trade pact. The country expects to boost trade and foreign direct investment in various sectors. Indonesian textile sector may also hope for higher investmen...Read more
