In a story published May 9, 2022, about a favorite guitar of the late Kurt Cobain being auctioned off, The Associated Press erroneously reported who owns the guitar. It is owned by Cobain's family, not Indianapolis Colts owner Jim Irsay.…
BB Engineering (BBE) has been shortlisted for the Plastics Recycling Awards Europe 2022 for the category Recycling Machinery Innovation with its PET recycling line VacuFil Visco for fibre-to-fibre inline recycling. BBE, a German machine building firm, is a joint venture between Oerlikon Barmag, a subsidiary of Oerlikon Textile & Co. KG, and Brückner Group.
The US department of agriculture (USDA) has forecast that the area under cotton cultivation in Mali for marketing year (MY) 2022-23 (August to July) will rise by 3 per cent to 740,000 ha compared to the previous year based on anticipated good farm gate prices and input prices, which have almost doubled worldwide and will motivate farmers to plant more.
The central parity rate of the Chinese currency renminbi, or yuan, weakened 567 pips (percentage in point) to 6.6899 against the US dollar on May 9, according to the China Foreign Exchange Trade System. In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day.
Etsy, the global marketplace for unique and creative goods, has entered into a partnership with the North Eastern Handicrafts and Handloom Development Corporation (NEHHDC). Both the organisations have signed a memorandum of understanding (MoU) to support small sellers, weavers and artisans, by providing them with market access and enablement support.
The 2022 progress report of the Swedish Textile Initiative for Climate Action has advised policymakers to ensure textile-apparel firms disclose their greenhouse gas emissions as per the most robust reporting standards and craft sufficient financial policy incentives for such firms to invest in climate action with partners in their supply and value chains.
Vietnam-Brazil bilateral trade turnover reached $6.35 billion in 2021, the highest so far, according to Ngo Xuan Ty, head of the Vietnamese trade office in Brazil. In the first three months of this year, the figure stood at $1.7 billion—up by 11.9 per cent year on year—of which Vietnam’s export revenue was $533.2 million—a rise of 3.5 per cent, Ty said.
Cotton yarn trade remained weak in markets of southern India today as spinners tried to maintain yarn prices at higher level, but buyers were not willing by buy yarn at higher prices. It is because weaving and garment industries are unable to find any takers for costlier products. According to trade sources, powerlooms are running at very low capacity.
Movista and Randa Apparel & Accessories (RAA), US’ leading privately-held company that produces men’s and women’s apparel and accessories under owned and licensed brands including Haggar Clothing, Levi's, Dickies, Columbia Sportswear, are leading the way in creating extraordinary retail experiences and transforming how shoppers interact with apparel.
The British Fashion Council Foundation has announced that Saul Nash has bagged The Queen Elizabeth II award for British Design. The award was presented by The Duchess of Cambridge, on behalf of Her Majesty The Queen, in this Platinum Jubilee year during an event at The Design Museum in London, which showcased all the talent support initiatives of the BFC.
The American web3 studio, BBRC, recently partnered with South Korean fashion illustrator Aaron Chang for an exclusive collection of NFTs called Ivy Boys. Ivy Boys is a limited-edition collection of 7,777 unique NFT avatars that gives owners exclusive access to the Ivy Bous Universe. The collection is inspired by the American Ivy League fashion style.
Austria’s Andritz has received an order from Manifattura Fontana to supply a complete neXline needlepunch line for the production of geotextiles to its site in Romano d’Ezzelino, Italy. Start-up of the line is planned for the fourth quarter of 2022. The needlepunch line will cover all process steps from fibre opening to automatic packaging of the product.
Tradewind Finance has provided receivables financing of $5 million to a garment manufacturer from Mauritius. A diversified company with 1,200 employees, it specialises in manufacturing and finishing denim products for distribution to leading retailers worldwide, including Australia and Europe. Tradewind Finance an international trade finance company.
Hello Kitty, known for spreading happiness across generations, has joined the sneaker and apparel brand headquartered in the US, Nike, to launch a limited-edition collection. Both brands have a history of inspiring and innovating trends, and this historic partnership will help elevate the everyday through super-cute personal style and expression.
Coupang and WHP Global are set to bring the Italian sportswear brand Lotto to one of the largest and fastest growing e-commerce companies in the world. Under the terms of the agreement, Coupang will serve as the distributor for Lotto in South Korea bringing a curated collection of men’s and women’s lifestyle footwear, apparel and accessories to consumers.
Nanollose, a leading bio-materials company, focused on commercialising scalable technology to create fibres and fabrics with minimal environmental impact, has entered into a collaboration agreement with innovative vegan leather and materials company, von Holzhausen. The companies will develop next generation vegan leather from microbial cellulose.
Sutlej Textiles and Industries Limited, a manufacturer and exporter of dyed yarns with presence in home textiles, will set up a green field project for 89,184 spindles comprising of cotton mélange yarn and PC grey yarn along with dye house in Jammu & Kashmir in India at an estimated cost of ₹914 crore, which will be implemented around Q4 FY 2025.
Stahl has released its 2021 Environment, Social, and Governance report to drive focus on value-chain sustainability and transparency. The report outlines the firm’s sustainable development ambitions and its achievements over the year. It also features Stahl’s ambitious climate mitigation targets for 2030, such as the transition to more renewable feedstocks.
USDA has announced a commitment of $50 million to assist eligible apparel manufacturers of worsted wool suits, sport coats, pants, or pima cotton dress shirts; pima cotton spinners; and wool fabric manufacturers and wool spinners. The new Cotton and Wool Apparel (CAWA) programme is part of USDA’s Pandemic Assistance for Producers initiative.
United Sports Brands (USB), the US-based sports performance and protective products company, recently announced the acquisition of Pearl Izumi, a manufacturer and retailer of cycling apparel and accessories. Pearl Izumi will join USB's portfolio of protective and performance sports equipment sold under the Shock Doctor, McDavid, Cutters, and Nathan.
Guess, Inc. has announced that it has entered into a €250 million revolving credit facility with sustainability-linked component through its wholly owned Swiss subsidiary, Guess Europe Sagl. The facility has an initial term of five years, with an option to extend the maturity date by up to two years and an option to expand the facility by up to €100 million.
Hanesbrands, recently announced results for the first quarter (Q1) of 2022 reporting rise is net sales of $68 million, a 5 per cent increase over prior year. The consumer demand in the Americas and Europe drove the growth. Global Champion brand sales increased 6 per cent over prior year. By geography, Champion sales internationally increased 10 per cent.
Apparel exports from Turkiye increased by 18.06 per cent year-on-year in January-March 2022, according to the data from the Turkish Statistical Institute and the country’s ministry of trade. During the first three months of the current year, Turkiye exported apparel worth $4.91 billion, compared to exports of $4.16 billion during the same period of 2021.
Apparel brand Endura has appointed Noah Bernard as its brand director, to lead the business as founder. Jim McFarlane, founder of Endura and director Pamela Barclay, have announced plans to step-back from the day-to-day management of the business. McFarlane founded Endura 30 years ago and has managed the brand together with Pamela for the past 15 years.
The exercise-bike company’s shares plunged as much as 20% on Tuesday after it slashed its sales guidance, reported a deeper loss than Wall Street had expected and said it's low on cash.