Textile Market News

The luxury and fashion sectors' post-pandemic boom has weakened since late 2023, with the Italian spinning industry seeing an 11 per cent revenue drop in 2023 to €2.88 billion, despite being 4 per cent above 2019 levels.

Fashion brands are facing pressure to meet stricter sustainability standards by 2030. In response, they're seeking eco-friendly fabrics at the ongoing Future Fabrics Expo in London. Hyosung, a textile leader, is showcasing its sustainable solutions at the event.

Karaikal cotton farmers have seen prices jump significantly after the first day of auction at the government-regulated market. This forced private traders to offer better rates in the open market. Cotton prices in Karaikal had plummeted below Rs 50 per kg in recent weeks.

Decathlon has developed a new swimwear fabric called Negombo that is both made from recycled materials and recyclable itself. This innovation eliminates the use of elastane, traditionally used for stretch but difficult to recycle.

India's cotton industry is set for a price hike as the government raises Minimum Support Prices (MSP) by over 7 per cent for the upcoming season. This aims to help farmers but may squeeze textile producers.

The National Council of Textile Organizations (NCTO) applauds the addition of 26 Chinese textile firms to the "Uyghur Forced Labor Prevention Act" (UFLPA) blacklist. This brings the total to 65 banned entities, hindering their goods from entering the US. Kim Glas, NCTO CEO, praised the move, calling it a "critical step" against forced labor cotton from China's Xinjiang region

Consumers are demanding sustainable fashion, and traceable cotton is meeting this need. BASF's e3 program helps farmers implement eco-friendly practices and track their cotton's journey.

Indonesia's textile industry is facing a wave of layoffs and closures due to new trade regulations, according to industry leaders. The Indonesian Textile and Filament Yarn Producers Association (APSyFI) blames Regulation No. 8/2024 for exacerbating illegal imports and hurting domestic producers.

Bangladesh is aiming to be the world's top apparel exporter by focusing on man-made fiber (MMF) clothes. MMF clothes are more profitable than cotton clothes and are in high demand globally. Bangladesh is already a major apparel exporter, and they have been improving their production capacity and quality for decades.

The textile industry in Tamil Nadu, a major employer in the state, is facing challenges due to high raw material costs. SK Sundararaman, chairman of the Southern India Mills' Association (SIMA), met with the new Union Textile Minister, Giriraj Singh, to discuss their concerns.

Fashion retailer Marks & Spencer (M&S) is allowing alpaca wool back into its clothing lines, reversing a 2020 ban prompted by animal welfare concerns. The change follows the launch of the Responsible Alpaca Standard (RAS), which M&S considers sufficient to ensure ethical sourcing.

Ludhiana-based fabric dyeing company Kudu Knit Process Pvt. Ltd. has enhanced its operations with digital solutions from Sedo Treepoint. This collaboration marks a significant step in Kudu's digital transformation journey.

India's cotton exports are expected to jump by two-thirds in the 2023-24 season, reaching 26 lakh bales (170 kg each) due to rising demand from Bangladeshi mills. This marks a significant increase from the previous season's 15.5 lakh bales.

The Southern India Mills’ Association (SIMA) is organizing the 14th Texfair, a textile machinery exhibition, from June 21 to 24 in Coimbatore. This event aims to connect textile mills with machinery suppliers and promote modernization within the industry.

Fashion icon Diane von Furstenberg (DVF) is partnering with Lenzing Group, a leader in sustainable fibers, to bring eco-conscious clothing to the mainstream.