Financial Results

Net Profit At Nandan Denim Plummets 89.8% in Q1FY’24

Textile Insights August 7, 2023

In the first quarter of fiscal 2024 ending June 30, 2023, net profit at Gujarat based Nandan Denim plummeted 89.8 percent to Rs 1.07 crores from Rs 10.5 crore in the same quarter of previous fiscal. In the reporting quarter, sales at one of the biggest Indian denim fabric manufacturer, was also

Export

European Union Garment Imports Climb 20.97% in 2022

Textile Insights August 7, 2023

In 2022, the European Union’s garment imports from the world climbed 20.97 percent to reach US $103.09 billion as against $85.23 billion in 2021 and which stood at $90.53 billion in 2018. Quoting EUROSTAT statistics, the Bangladesh Garment Manufacturers & Exporters Association (BGMEA) said while, EU’s apparel imports from Bangladesh has grown at a CAGR […]

Industry

Pakistani Textile Industry On Ventilator Support

Textile Insights August 7, 2023

Difficulties in the Pakistani textile industry, which accounts for 60 percent of Pakistan’s overall exports has been seriously affected by multiple factors in the last few years. They include the Covid-19 pandemic, slowdown in orders from the US and the EU, rise in energy costs, critical state of the economy and months of political chaos […]

Machinery

Italian Company Biancalani Meets More Than 300 Buyers At ITMA

Textile Insights August 7, 2023

Italian textile finishing machinery manufacturer Biancalani met more than 300 buyers at ITMA 2023 and exhibited with the motto ‘We are open’. Potential and existing customers visited its stall from all over the world, and in order of interest the main countries were, India, Turkey, Pakistan, Brazil, Italy, Egypt and the United States. The company […]

Sustainability

New UN Report To Help Fashion Sector Reduce Carbon Footprint

Textile Insights August 7, 2023

The UN Climate Change’s Fashion Industry Charter for Climate Action has released two reports which aims to help the fashion industry reduce their carbon footprint. The two reports will help better understand on how to reduce greenhouse gas emissions from raw material extraction, production and processing, which for some companies is the most carbon-intensive part […]

Cotton

Pak Ginning Factories Witness Impressive Cotton Arrivals

Textile Insights August 5, 2023

Cotton ginning factories in Pakistan witnessed an impressive arrival of 1.42 million bales of cotton lint till July 31 in the current cotton season. This was made possible due to a record cotton crop output and as there was not any significant pest threat to the cotton crop from any of the major cotton growing […]

Apparel, Fashion, Retail

80% Of US Garment Brands Will Reduce Sourcing From China

Textile Insights August 5, 2023

Nearly 80 percent of US garment and fashion brands plan to reduce their China sourcing over the next two years. This was revealed in a survey done by the United States Fashion Industry Association (USFIA) of 30 fashion companies between April and June 2023, a majority of them having more than 1,000 employees. US fashion […]

Export

Chinese Textile Exports Down 11 Percent In Jan-June 2023

Textile Insights August 5, 2023

In the first six months of 2023, Chinese textile exports like home textiles, yarns and fabrics totaled $67.69 billion, down 11 percent over the similar period in 2022. Chinese garment exports dipped slower at 6 percent to US $74.98 billion in the first half of 2023 as against $79.68 billion in the comparable months of […]

Apparel, Fashion, Retail

US Garment Brands Seek Early Renewal Of AGOA

Textile Insights August 5, 2023

Garment and fashion brands in the United States have appealed to renew the African Growth and Opportunity Act (AGOA) at the earliest. The program allows African countries to export a wide range of products to the US without incurring any tariffs or duties. This has made it an attractive option for US fashion companies, as […]

Export

Global Garment Trade Rises 7.26% In 2022

Textile Insights August 5, 2023

According to the World Trade Organisation (WTO), global garment trade rose 7.26 percent in 2022 and amounted to US $576 billion as against $537 billion in 2021. China is the largest supplier of apparel in the world while Bangladesh retains second spot and its market share climbed to 7.87 percent in 2022 as against 6.37 […]