Textile Market News

Brazil's Foreign Ministry and the Cotton Growers Association (Abrapa) joined forces to ramp up cotton trade with Bangladesh. This mission was aimed at solidifying the already strong partnership between the two countries, which saw $2.3 billion in total trade in 2023.

Sri Lankan apparel giant MAS Holdings signed a three-year deal to buy recycled polyester from US startup Ambercycle. This deal signifies a shift in the textile industry as suppliers are now getting involved in promoting sustainable practices. MAS will buy 4,000 tonnes of recycled polyester, enough for 10 million T-shirts, to meet the rising demand for eco-friendly clothing. Currently, recycled polyester is mainly made from plastic bottles, but Ambercycle's technology recycles old clothes, which is considered more sustainable.

Spanish sustainable textile technology leader Jeanologia will showcase its revolutionary ATMOS process at Denim PV Milan. ATMOS offers an eco-friendly alternative to traditional stone washing, a major water polluter in denim production.

The Schneider Group launched Authentico, a brand ensuring a transparent and verified wool supply chain, from farm to garment. Authentico aims to be the go-to brand for premium, traceable, and responsible wool.

Swedish investment firm Altor has acquired Circulose (formerly Renewcell), a pioneering textile recycler that went bankrupt earlier this year. Circulose is known for its Circulose pulp, an innovative material made entirely from textile waste instead of trees. The company also boasts of the world's first commercial-scale facility for producing viscose and other sustainable fibers.

China's cotton yarn imports fell sharply in April 2024, down 35 per cent from March to 110,900 tons. This aligns with industry expectations and reflects a decrease in import activity due to rising overseas cotton prices. The unit price of imported yarn also climbed to $2.48/kg, making it less cost-effective compared to domestic options.

A new report by Accelerating Circularity highlights key learnings from successful cotton textile-to-textile (T2T) recycling trials in the US and EU. The project, involving 43 stakeholders across the industry, aimed to bridge the gap between research and real-world implementation of a circular textile system.

The North Eastern Handicrafts and Handlooms Development Corporation (NEHHDC) launched a Centre of Excellence (CoE) in Guwahati, Assam, in collaboration with the Apparel Made-Ups and Home Furnishing Sector Skill Council (AMHSSC).

The IMF’S upward revision of global growth to 3.1 per cent for 2024 is bringing positive tidings for India's yarn industry, which is poised for a significant expansion. This resilience in major economies, coupled with infrastructure improvements, a focus on self-sufficiency in raw materials, and a drive for innovation, is creating a perfect storm for growth in the sector.

Tensions are high in Maharashtra’s Ichalkaranji textile hub in as sizing unit owners threaten to strike over pollution regulations. The Maharashtra Pollution Control Board (MPCB) has reportedly issued shutdown notices to these businesses for lacking wastewater treatment systems.

Kallam Textiles reported a disappointing performance for the quarter ending March 2024. Net sales fell significantly by 44.67 per cent year-on-year to Rs 61.94 crore, compared to Rs 111.96 crore in the same period last year. The company also incurred a net loss of Rs 10.98 crore, reflecting a decrease of 40.19 per cent from the Rs 7.83 crore loss reported in March 2023.

The 51st India International Knit Fair, a major knitwear event, will be held September 4th to 6th in Tiruppur. The India Knitfair Association organizes the fair, which this year focuses on Spring/Summer 2025 collections with a sustainability theme.

Archroma, a leader in sustainable denim solutions, will showcase its latest innovations at Denim Première Vision Milan (June 5-6) and Denimsandjeans Vietnam (June 26-27). Denim remains popular, but traditional methods raise environmental concerns. Archroma helps brands and mills adopt cleaner and more sustainable practices.

Welspun Living reported a banner year with its highest ever annual revenue of Rs. 98,251 crore for FY24. The company is also expanding its manufacturing footprint with a new Jacquard towel plant in India and a pillow manufacturing unit in the US.

Tiruppur's famed knitting industry is experiencing a welcome resurgence. After facing quality woes with Bangladeshi garments, importers are flocking back, triggering a boom in orders and production.