India’s Textiles & Clothing Exports

India’s textiles and clothing exports stood at US$ 19.15 billion in 2006-2007 and improved to US$ 22.14 billion in 2007-2008. Textiles and clothing exports came down to US$ 20.94 billion in 2008-2009. However, in rupee terms the exports of textiles and clothing during 2008-2009 were of the order of Rs.96,309 crore as against Rs.89,121 crore in 2007-08, thus representing an appreciation of 8.07%. In absolute terms, the textiles and clothing exports as percentage of India’s total exports declined from 15.16% in 2006-2007 to 13.59% in 2007-2008 and further to 11.47% in 2008-2009. As per advance information received from some segments of the industry, there has been a considerable decline in the exports of readymade garment and cotton products during the first two quarters of the current financial year. This was stated by the Minister of State of Textiles, Smt . Panabaaka Lakshmi in the Lok Sabha today, in a written reply to a question by Shri Hansraj G. Ahir, Shri Jagdish Sharma and Dr. Murli Manohar Joshi.

The Government has been holding discussions at the highest levels with textiles and garment exporters to find out ways and means to counter the adverse effect of the global economic slowdown on India’s textiles exports. Various incentives have been introduced or enhanced for the sector under the Foreign Trade Policy 2009-2014, the Minister added.

News Source: Ministry of Textiles

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BGMEA, labour leaders form nine bodies to monitor RMG sector

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and labour leaders have jointly formed nine committees to monitor the situation in the apparel sector, specially in Dhaka, ahead of the Eid-ul-Azha festival.

The BGMEA leaders and the labour leaders formed the committees at a meeting held at the BGMEA office in the city Saturday.

BGMEA officials said the committees would act promptly to address any disturbance in the apparel sector in Dhaka.

“The committees will closely monitor the labour situation and find out the ways to solve the crisis,” Abdus Salam Murshedy, BGMEA president, told the FE Sunday.

The BGMEA chief also said he already urged the garment factory owners to pay the wages and bonuses before the Eid-ul-Azha festival.

The meeting was also attended by Bangladesh Textile and Clothing Labour League president ZM Kamrul Islam, Bangladesh Jatiyatabadi Garment Dal president Shahidul Islam and Jatiya Garment Sramik League president Md Selim Reza.

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Macy’s posts slight sales decline as shoppers emerge

Macy’s Inc reported a 0.8 per cent dip in its October same-store sales, ahead of the retailer’s outlook and putting it on strong footing to meet or beat its second-half projections. Cincinnati-based Macy’s operates roughly 850 department stores.

Analysts surveyed by Thomson Reuters expected the Cincinnati-based department store chain to report a same-store sales decline of 0.1 per cent. Macy’s total sales slipped by 1.3 per cent to 1.69 billion dollars from 1.71 billion dollars a year ago.

For the fiscal third quarter, its same-store sales declined by 3.6 per cent. That tracks ahead of what Macy’s had projected for the second half of the year, which is a same-store sales decline of five to six per cent. Total sales dropped 3.9 per cent, to almost 5.3 billion dollars from 5.5 billion dollars.

News Source: AEPC India

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Menswear companies focus on carving up domestic market

On the 3rd Annual Meeting and Summit of Men''s Wear Commission, Jiang Hengjie, Executive Vice President of China National Garment Association said the competition within Chinese menswear industry has been upgrading; China's international competitiveness shifts from labor cost advantage to advantages in product development, product quality, brand creativity and cultural innovation.

During industrial structure adjustment and upgrading, industrial resources start to flow and restructure; industry regional distribution goes through minor adjustments. Rising competition appears in domestic market which becomes the focus of companies.

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Italy Textile, Shoe, Leather, Eyewear Indus Want Government Support

Italy's textile, leather, shoe and eyewear industry leaders said Monday they have formed a united front to ask the government to help sustain jobs, salaries and investments, as the global economic turmoil batters the retail sector.

In a statement, the groups said they wrote a letter to Italy's Prime Minister Silvio Berlusconi, asking the government for an "urgent" meeting to discuss the negative effects of the global crisis on the sectors.

Italy is the largest exporter of clothing, textiles and shoes in the 27-member European Union. According to government agency SACE earlier this month, Italian export growth is expected to slow notably for the next three years.

The letter calls for the government to help maintain production with measures including facilitating credit lines for small- and medium-sized companies which make up the textile, shoe and eyewear industries, as well as cutting taxes on female workers, in order to improve their working conditions.

Female workers make up 65% of these industries' work force, the statement said.

Experts expect the luxury sector, which these industries serve, to face pressure into 2009. Bain & Co. expects worldwide luxury good sales to rise only 3% in 2008, from a 9% on-year increase last year.

News Source: chineseleather.org

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Dayanidhi Maran exhorts jute industry to focus on product

The mantra for survival of jute industry is product diversification and the Jute Geo Textiles (JGT) provide an opportunity to the Jute Industry to diversify and capture new market, said Thiru. Dayanidhi Maran, Union Minister of Textiles while launching the International Project for the Development and Application of Potentially Important Jute Geotextiles, here today. Ambassador Ali Mchumo, Managing Director of the Common Fund for Commodities, Tmt. Rita Menon, Secretary, Textiles, Thiru. Sutanu Behuria, Chairman, International Jute Study Group (IJSG) and Thiru. Sudripta Roy, Secretary General, International Jute Study Group, and Thiru. Bhupendra Singh, Joint Secretary, Ministry of Textiles were also present.

The Minister said that Jute Geotech is a very cost effective and versatile material for ground modification and stabilization, however, in India the use of these materials remain inadequate and far below the potential despite the country having the second largest road network in the world and indigenous fibre base. It becomes our bounden duty to sensitize the stakeholders about myriad applications of Jute Geotextiles and its business potential, emphasised Thiru. Maran.

Jute Geotextiles (JGI) can have a business potential of Rs. 1,260 crore in the 21,000 kilometre National highway being upgraded by the Government, said Thiru. Maran. The Bharat Nirman, a time bound action plan for development of rural infrastructure, envisages laying of 24,000 kilometres of roads to provide connectivity to rural areas and Jute Geotextiles in this Programme can generate a market potential of Rs. 868 crore, said Thiru. Maran. The Government will spent US $ 78.5 billion for development of road infrastructure during the Eleventh Five Year Plan Period and the Jute Textiles Industry shall shape up to exploit the potential, said the Minister.

The Minister said that there is an immediate need for standardization, if the Jute Geotextiles have to meet acceptability both in national and international markets. The Minister said that the five years US$ 3.96 million dollar project has also a social angle. The increased off take of jute will help in poverty alleviation in jute-growing areas and in improving the living conditions of farmers and workers. I compliment the Common Fund for Commodities (CFC) and the International Jute Study Group (IJSG) for their initiative, said the Minister.

The Minister hoped that the Jute Manufactures Development Council (JMDC) as the Project Execution Authority (PEA) will be able to fulfil its commitments with the support and co-operation of the partners of the project and lead jute sector to a better position in the interests of the farmers, the workers, the industries and all the stakeholders in the sub-continent.

News From: Ministry of Textiles

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Ban on export of cotton, thread demanded

Chairman All Pakistan Bed Sheet and Upholstery Manufacturers Association (APBUMA), Khawaja Muhammad Anees, has urged government to impose a ban on export of cotton and thread in order to ensure the maximum export of value added products and to earn reserves for the country.

Khawaja Anees said that increasing ratio of cotton export from the country has become a sign of threat for the local textile and spinning sector. Decline in cotton production target and the increase of thread export from the country has become the cause for the non-availability of crude material for local textile and power looms sector. Textile export has fallen due to export of cotton and thread. It is difficult to meet the export orders in future, he added.

He said that government had fixed the export targets in the trade and textile policy, however, due to low production during the current season. The price of cotton in the local market is increasing because of rising exports. He urged government to put ban on the export of thread and cotton so that the export orders of bed sheet, upholstery and other items could be delivered on time.

It is worth mentioning here that spinning mills have stopped the sale of thread in the local market, which is badly affecting the garments, power looms, hosiery and textile sector. The export of thread has increased after the dollar gains value. Exporters are minting record profit with the export of thread. However local industries are severely affecting with this trend.

News Source: PRGMEA

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American Apparel Q3 profit soars despite lower sales

Moves to streamline its inventories and switch towards higher-margin retail sales have helped lift T-shirt and casual clothing firm American Apparel Inc to an 82.6 per cent hike in third quarter profit.

The Los Angeles based firm, which makes and retails branded fashion basics, said its net income rose to 4.2 million dollars or 0.05 dollars per share, up from 2.3 million dollars a year ago.

Last year's figures were depressed by stock compensation payments, the company said.

"While we are pleased that we were able to deliver a profit in the third quarter in spite of the difficult environment, I believe the successes we had in terms of streamlining our inventories and significantly reducing our indebtedness will prove particularly valuable as we move forward," said chairman and CEO Dov Charney.

"While it is still very early, we are encouraged by some indications pointing to the beginning of momentum in our sales. "We believe that for the long term, our business remains on track as we continue to expand our brand's presence both in the US and internationally."
Looking ahead, American Apparel still expects its full-year sales to be in the range of 540 million dollars to 555 million dollars with a loss of one million dollars to a profit of four million dollars in the period.

News Source: AEPC India

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Hugo Boss Q3 profit drops 25% as sales fall

German fashion firm Hugo Boss posted a 24.8 per cent drop in third quarter net income amid a continuing slowdown in demand for luxury goods. The company said it doesn't expect to see profitable growth until next year.

For the three months to September 30, profit fell to 51.5 million euros from 68.5 million euros in the same period last year. Quarterly sales dropped to 450.4 million euros from 533 million euros, a fall of 15.5 per cent.

However, the company said it has "held its ground well" so far this year, with overall sales down 9 per cent to 1.24 billion euros from 1.36 billion euros last time.

Cost cuts and reorganisation -- including reducing the complexity of its collections to save production and logistics costs, and better materials management -- have also helped keep operating profit margin flat with last year's level of 18 per cent. The group added that its own retail operations made a positive contribution to nine-month sales whereas wholesale revenues fell.

Regionally, the biggest slowdown was in Europe where sales fell by 13 per cent to 852 million euros in the first nine months of the year. In the Americas, sales rose 2 per cent to 233 million euros with declines in North America offset by a 32 per cent jump in Central and South America.

Asia Pacific revenues were flat with last year at 122 million euros although revenues at Hugo Boss' own retail operations in China more than tripled.
Looking ahead the company said: "Due to the extremely weak overall global economic situation, Hugo Boss expects a declining sales development on the level of the first three quarters for the remaining fiscal 2009." The management also sees adjusted operating margin for the year at last-year's level, and expects a first positive upswing in 2010.

News Source: AEPC India

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