| Italy:ITEMA launches EK808 rapier weaving machine at ITMA ASIA/CITME |
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Source: chinaapparel.net
| USA:Cotton futures rebounds to finish with triple-digit gains |
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Cotton prices started the week under pressure but after four down days in a row and closing losses totaling over 500 points, cotton futures rebounded to finish with triple-digit gains Tuesday thanks at least in part to sharp advances in other commodities, a weaker dollar and sky rocking crude oil. Cotton prices rallied on Friday when grains rallied but unfortunately cotton could not stand on its own feet and when grain prices rolled over, cotton prices came down hard. More technical damage was also done to cotton when the market made new lows for the week. |
Source: chinaapparel.net
| Global garment retailer C&A to buy organic cotton from India |
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Leading global garment retailer C&A has decided to source organic cotton from India to make garments, a move that will give a big boost to Indian farmers.
"The C&A will source 7,500 tons of organic cotton from India this year for manufacturing clothes," Anuradha Bhavnani, India head of Shell Foundation, which is instrumental in sourcing global customers for Indian organic cotton, told reporters. Shell Foundation, a UK-based organisation funded by petroleum major Shell, has been working among Indian cotton farmers through NGOs. C&A has 1,172 stores across 16 EU countries. The clothing made from Indian cotton would be available in all its outlets, she said. "For many years, C&A Europe has been purchasing products from India. In the coming years, we even plan to strengthen our existing commitment to organically produced cotton produced in India," C&A Executive Board member Andreas G Seitz said in a statement. By 2012, C&A hopes to switch more than 20 per cent of its product range into organic cotton, Seitz said. Bhavnani noted that C&A would be able to manufacture about 12.5 million items of clothing including jeans and T-shirts from Indian organic cotton. Besides global players, Shell Foundation is also talking to a big retail chain from India for supply of organic cotton. An assured market for organic agriculture product will encourage Indian farmers to grow more such items. Besides, organic cotton is likely to fetch them more rewards compared to normal variety. |
| source: economictimes |
| Australia:'Future Fibre Materials - Renaissance through Innovation' to be held in July |
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The Australian TCF Technology Network has announced details of its upcoming 2008 Annual Conference "Future Fibre Materials - Renaissance Through Innovation". |
| source: Australian TCF Technology Network |
China's apparel exports to the US market may seriously slow down in 2008, as a result of higher production costs, rapidly rising yuan and surging competition from Vietnam while US quotas in most sensitive categories are still maintained until the end of the year. US apparel imports already declined 15% from China in December, possibly announcing a sourcing shift to other nations in the near term.
After surging in the past years, US apparel imports from China may possibly decline in 2008 or less significantly growing than in previous period.
Latest US official data are giving signs of a possible shift to other sources, as the yuan is now rapidly appreciating and production costs are also pushing up Chinese prices to much higher levels.
US apparel imports from China surprisingly fell in December, according to statistics which were Friday released by the US Department of Commerce.
Total imports from China declined no less than 15% in December from the same month last year at US$1.42 billion (see our tables below).
Preliminary data in volume terms covering January 2008 are confirming such a fall in shipments from China, as already reported here.
The surprising decrease may be partly due to higher quota fill rates in 2007 with a consecutive lack of export licences at the end of the last year in China.
Those latest data seem however confirming statements from largest trading houses, announcing a potential shift in sourcing from China to other origins, due to a series of factors like rising yuan and production costs.
The Chinese currency grew at a much higher pace in the past weeks, finally up 8% from the same period a year ago (see graph below).
With a majority of order being placed six months in advance, the rise in the yuan is adding to usual uncertainties and may be considered a decisive reason for limiting imports from China.
A new labour law was just implemented in China which favors employees and should result in a significant increase in production costs.
Even if the law is not fully endorsed, as widely expected, wages are being increasing in China, in line with a current jump in inflation, and especially food prices.
Energy costs are also up, as oil and electricity prices are soaring.
The mortgage crisis has resulted in a slowdown in US retail sales. Apparel chains reported decreases in comparable (same-store) sales for December and January, possibly leading to lower apparel imports in the near term.
First data for January are indicating a fall in shipments in volume terms, in most important categories (see a link to our recent report below).
In addition to limiting imports in volume terms, the economic slowdown will force US importers in putting more pressure on prices.
This should negatively affect business with Chinese suppliers, who need raising their prices at the same time.
With the euro remaining at a high level, Chinese exports may more easily rise to the Euro zone in 2008.
In addition, European quotas were eliminated on 1 January while US quotas will be maintained until the end of the year.
First data about the level in export licences are a showing a surge in shipments to Europe in sensitive categories.
While shipments are falling from China, US apparel imports are this year surging from Vietnam where costs and prices are relatively lower.
Relocation of certain Chinese clothing capacities to Vietnam may also explain such a trend.
Beijing tries now being less dependant on foreign markets by developing domestic consumption.
Tax rebates were reduced from 13% to 11% in 2007 on VAT paid by exporters and should be further cut this year.
Demand for textiles and clothing is surging on China's domestic market, limiting the share of export markets in total sales.
Source: emergingtextiles.com
14 April 2008
U.S. retail sales sharply fell in March at a series of apparel chains. Comparable sales were down 18% at Gap's stores, for instance, reflecting lower consumer spending as food and gasoline prices are rising while housing prices are declining. Sales of higher-priced apparel were primarily hit, as usual when a recession hurts American economy.
Retail sales were sharply down at a series of U.S. apparel chains in March, reflecting lower consumer spending in the country.
Sales dropped 18% at Gap Inc.'s stores, compared with sales at stores open at least a year ago (comparable store sales).
Such a decline may partly reflect the difficulties faced by the group in the past period.
However, the current decline in housing prices in the United States and the rise in food and gasoline prices have heavily depressed consumer spending.
As usual when unemployment and prices are rising, apparel sales primarily suffer with consumers focusing on food and other purchases which cannot be postponed.
Not surprisingly, consumers shifted to lower-priced products with Wal-Mart retail sales rising 0.7% in March, by contrast with a sharp decline experienced at certain apparel chains.
Other types of distribution were also hit in March with J.C. Penney's comparable sales losing 12.30%, for example.
In addition to the economic recession, retail sales were lowered by Easter's date falling very early this year.
Cold weather also limited sales of spring clothing.
Last year's retail sales had been relatively high, by contrast.
U.S. consumer confidence fell this month to a 26-year low, according to the indicator of the University of Michigan.
Consumer spending should rise at the weakest rate in 17 years, a panel of economists last week said to Bloomberg.
Source: emergingtextiles.com
| Vietnam's garment export up in first 4 months |
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Vietnam is estimated to earn over 2.6 billion U.S. dollars from exporting garments and textiles, mainly to the United States, the European Union and Japan, in the first four months of this year, posting a year-on-year rise of 24.5 percent, according to a local industry association on Friday. To realize the targeted annual garment production growth of 16-18 percent and export growth of 20 percent between 2008 and 2010, garment and textile producers in Vietnam are increasing investment in purchasing advanced equipment and technology, launching more models with finer designs, seeking more material supplies, and improving management, said the Vietnam Textile and Apparel Association. Under a national plan on developing the local industry, Vietnam' s garment and textile industry will make total production value of 14.8 billion U.S. dollars in 2010, some 22.5 billion dollars in2015, and 31 billion dollars in 2020. The country targets garment export turnovers of 25 billion dollars in 2020. Vietnam reaped nearly 7.8 billion dollars from exporting garments and textiles in 2007, up 34.5 percent against 2006. It earned 4.5 billion dollars from shipping the products to the United States last year. |
Burberry has appointed Sarah Manley to be its Senior Vice President of Marketing & Communications, significantly boosting the executive’s responsibilities at the UK label.
With her new expanded role, Manley will be responsible for “all aspects of global marketing, advertising, all fashion and business PR, events and internal communication,” Burberry said in a release. So, now publishers worldwide know who to call for an ad page.
Manley, 37, has been with Burberry for seven years and previously held the title of SVP of PR & Communications. She will report to Burberry CEO Angela Ahrendts. Her appointment is effective immediately.
Burberry, which was founded in 1856, is a London-based company where it is quoted on the local stock exchange.
The famously unflappable Manley is know to have tight connections with UK aristocracy and to be very close to Burberry’s creative director Christopher Bailey.
“It’s great news for me. I am really lucky and so fortunate to work for a great British company like Burberry and with people like Christopher and Angela,” Manley told FWD.
Born in London, Manley, a British citizen who spent the formative years of her youth living in Sicily, is fluent in Italian and French.
Prior to joining Burberry, Manley spent six years at Polo Ralph Lauren and four years at Yves Saint Laurent, holding various positions in marketing, media and PR.
Erudite and popular, Manley is one of fashion’s greatest fans of scuba diving, and famous for being a ring leader in a gang of petite PR powerhouses that London broad sheet The Daily Telegraph drolly entitled The Bond Street Mafia.
Source: fashionwiredaily.com
LVMH Moet Hennessy Louis Vuitton is buying itself another watch brand, upping its commitment to the sector in the weeks following the world's largest watch and jewelry fair in Basel.
Luxury's largest conglomerate, LVMH inked a deal with the Geneva, Switzerland-based Hublot group, a high end watchmaker that has posted respectable sales growth in recent years.
Terms were not released in the deal which will see Paris-based LVMH buy Hublot from its founder Carlo Crocco, who launched the label in 1980, and Jean-Claude Biver, Hublot's CEO since 2004.
LVMH executives regard Hublot as a brand that will dovetail with its existing stable of watch makers that is comprised of TAG Heuer, the Swiss Watch Manufacturer Zenith, Dior Montres, and the watch collections of jewelers Chaumet, Fred and De Beers plus Louis Vuitton's watch line.
"Hublot is a strategic and very complementary acquisition. Its high-end positioning, selective distribution, financial performance and growth potential make Hublot a 'rising star'," said Philippe Pascal, CEO of LVMH’s Watches & Jewelry business group, in a release.
Hublot has grown at a rapid pace since 2004, racking up net revenue of some $149 million in 2007 with what a LVMH release termed "excellent profitability” without, however, stating a figure.
"I am happy that Hublot, an innovative brand since its creation, is joining the LVMH group, the world leader in luxury goods, whose creative passion is without any doubt a value that I have always shared," said founder Crocco.
Hublot currently retails in a selective distribution network of just 300 stores worldwide, primarily in Europe, though this should expand as the label has begun selling its products in China and India and sees strong growth potential in Asia, Japan and North America.
Hublot's product range is characterized by watches in unusual materials using unlikely combinations of precious metals like gold and platinum with technological metals such as titanium, tantalum and far more left-field ideas like ceramics, diamonds and natural rubber.
Its Big Bang collection includes models equipped with automatic movements whose prices range from 8,000 euros for steel and ceramic, to more than 300,000 euros, when integrating precious metals and technical complexity.
Hublot recently launched the Big Bang collection for women at the last Basel watch fair to considerable acclaim.
Source: fashionwiredaily.com
Call him Giorgio the Legionnaire.
Fashion Wire Daily has learned that Giorgio Armani is to be awarded the Legion of Honor, and no less a figure than French President Nicholas Sarkozy will pin the medal on the designer.
Sarkozy will confer the honor on Amani this summer in Paris when the Italian designer will be in town to stage the latest collection from his haute couture line, Armani Prive, on Monday, June 30.
A spokesman for Armani declined any comment, but well informed sources told FWD that Sarkozy has invited Armani to the presidential residence in the Elysees Palace to receive his recognition.
Most designers and actors - such as Valentino, Lanvin designer Alber Elbaz or thespian Jack Nicholson - are traditionally presented their ribboned Legion of Honor at a ceremony in the grand and gilded salon of the Ministry of Culture on rue de Valois, the heart of the Palais Royal, arguably the world’s most beautiful apartment building.
His new wife, Italian model and singer, the former Carla Bruni Tedeschi, will join the hyper energetic president at the ceremony. Speculation will be rife about what Madame Sarkozy will wear to the ceremony. On Sarkozy’s much-publicized state visit to the UK in March, Carla’s wardrobe was Christian Dior.
However, Carla is not unfamiliar with Giorgio’s oeuvre; she wore a silvery white evening dress by Armani when she carried the Italian flag at the opening ceremony of the XX Winter Olympics in Turin, Italy.
Armani will also receive the distinction just before he celebrates his 74th birthday on July 11.
Armani, a one-time student of medicine and subsequently a department store window dresser, founded his fashion house in 1974. He went on to create a label that last year scored annual sales of 1.7 billion euros, or $2.95 billion.
Arguably the world’s most famous contemporary designer, Armani is famed for his minimalist silhouette, “non-color” palette and revolutionary men’s fashion concepts, such as dressing guys in fabrics traditionally used by women.
Source: fashionwiredaily.com
Not only the new location makes the upcoming ITMA ASIA/CITME especially important: it is also a chance for the textile and textile machinery industries to take stock of current trends and explore new opportunities. 