Irish textile firm Union Street (Lurgan) will open a yarn-spinning factory in India to reduce its exposure to price volatility in China, according to the company's recently published annual accounts, which reveal another year of double-digit sales growth. The company is involved in weaving, dyeing and finishing of linen and linen cotton fabrics.Pic: ShutterstockIt is also feeling the pinch from price fluctuations in Asia, according to a report in an Irish newspaper.In a strategic report acco

According to OTEXA, USA fell in its apparel consumption by 0.34 per cent in 2019. The country imported 27.74 billion SME apparels in 2019 as against 27.83 billion SME in 2018.Image Courtesy: The first three quarters saw positive trend by 4.61 per cent; 4.02 per cent; and 2.22 per cent respectively, while the 4thquarter saw a massive downfall by 11.89 per cent.In terms of values, the country saw a marginal rise of 1.16 per cent as it imported US $ 83.82 billion worth of apparels as against US $ 8

The fastest growing large economy in the world is India, according to the 22ndedition of Deloitte’sGlobal Power of Retailing. Longer term, India’s favourable demographics bode well for strong growth and a rising middle class, adds the report which identifies 250 largest retailers of the world across demographics with minimum retail revenue of $3.7 billion.The apparel and accessories sector earned the second highest composite retail revenue growth of 7.1 per cent in FY2017, however the sector cou

Chinese ambassador to Bangladeshrecently assured Bangladeshi industries, especially those in the textile and readymade garment sector, that the construction of mega projects in the country would not be affected due to thein his country. Bilateral trade would not be affected because of the outbreak, he said.Pic: ShutterstockWuhan, the epicentre of the virus, will not affect the fundamental picture of supply chain of Bangladeshi industries as the city is not a production centre for textile or appa

Bangladeshi apparel products made of raw materials, including cotton, imported from the United States should beby importers there, according to foreign minister AK Abdul Momen, who recently floated the idea to strike a deal on purchasing cotton from the United States in exchange ofPic: ShutterstockHe was speaking at a luncheon meeting organised by thein Bangladesh with the theme ‘Strengthening Bangladesh-USA economic relationship’.On an average, Bangladeshi products attract 15.6 per cent import

Bangladeshi garment accessories and packaging manufacturers fear losses of Tk150 billion (1500 crore) due if the coronavirus prolongs for six months as it would create a shortage of raw materials for the sector hindering the production.Figure:About 50% of raw materials are sourced from China.Meanwhile, the business people called for searching alternative sources to procure raw materials to avert supply crunch and policy support with ease trading facilities to buy from the new destination.Banglad

‘Silkflex Grand Textile Printing Technical Seminar’ shows innovation of Bangladesh textile printing sectorSilkflex Bangladesh Ltd awarded 250 leading textile factories for their contribution to the printing sector on ’12thSilkflex Grand Textile Printing Technical Seminar’ held at Officers’ Club, Dhaka on 7th February.Figure 1: Factories received the ‘Silkflex Print Contest-20’ award.Silkflex Polymers SDN BHD, Malaysia and Silkflex Bangladesh Ltd jointly organized the largest textile screen print

The seasonally adjusted volume of retail trade decreased by 1.6 per cent in the Euro Area (EA19) and by 1.3 per cent in the EU27 zone in December 2019 compared to figures in the previous month, according to estimates from Eurostat, the statistical office of the European Union (EU). In November last year, the volume rose by 0.8 per cent in EA19 and by 0.9 per cent in EU27.In December 2019 compared with December 2018, the calendar adjusted retail sales index increased by 1.3 per cent in EA19 and b

The global trade of bed linen has been moving up with high growth rate. Total trade increased by 18.27 per cent from 2016 to 2018, according to data from TexPro. The global trade of bed linen was $2,620.07 million in 2016, which increased to $3,098.80 million in 2018. Pakistan, China and Turkey collectively exported 71.83 per cent of total export in 2018.Pic: ShutterstockThe total trade of bed linen has risen by 7.60 per cent in 2018 over the previous year and is anticipated to reach $3,986.25 m

Indian Texpreneurs Federation (ITF) and Tiruppur Exporters' Association (TEA) will jointly organise an engagement meet for brands and SME manufacturing units in Tamil Nadu. This was disclosed after a meeting of brands and retailers with industry representatives organised by the ministry of textiles this week. Textiles minister Smriti Irani attended the meeting.Pic: Shutterstock"The meeting was well attended by 30 brands and retailers and was hugely successful. Industry representatives f