The global luxury market grew by 4 per cent in 2019 with Asia contributing most to the growth of this market according to the Bain-Altagamma 2019 Worldwide Luxury Market Monitor. The study reveals that the size of the global personal luxury goods market was pegged at € 281 billion in 2019. Of this, Mainland China’s luxury market grew the most bgy 26 per cent at constant exchange rates this year to reach €30 billion. Fuelled by favorable government policies and lower price differentials, Chinese

Advance Denim is the oldest denim manufacturer in China and is committed to making the most sustainable denim possible. Advance Denim has reduced its energy consumption per yard of fabric by 42 per cent since 2013. Saving is the result of applications of energy-efficient machine replacements and equipment upgrades. A state-of-the-art emissions tracking system ensures its thermal power plant is well below national standards for air pollutants. The company has reduced its water consumption by 58 p

First Lady of Nigeria’s Ekiti state Bisi Fayemi recently urged the government to ban imported ‘Aso-Oke’ fabric from China and revive the nation’s textile industry by protecting the interests of women workers. Not in favour of banning the import of all fabrics, Fayemi made the call during the 2019 Africa Fashion Week Nigeria (AFWN) in Lagos.Women in the Nigeria’s local communities toil hard to produce Aso-oke fabric, but lack the capacity to scale up. Instead of investing in boosting their capaci

The global trade value of animal hair (not carded or combed) has been increasing with high growth rate. Total trade increased by 55.78 per cent from 2013 to 2019, according to data from TexPro. Importing of raw animal hair is the major contributor to the total trade and it accounted for approximately 90 per cent of the total trade in 2018.Pic: ShutterstockThe global trade of animal hair was $804.08 million in 2016, which increased to $1,040.54 million in 2018. The total trade has risen by 20.77

Operating margin of Indian cotton yarn spinners is expected to shrink by 200-400 basis points (bps) on-year in fiscal 2020 owing to a narrowed spread between cotton and yarn prices as compared to last fiscal, according to CRISIL. The decline would be more than what was estimated by CRISIL in May, with small players bearing the brunt, the company has said.Pic: ShutterstockHigher domestic cotton prices compared with international prices during April-October 2019, a sharp fall in exports mainly to

The global trade value of wool (not carded or combed) has been consistently escalating with high CAGR of 7.55 per cent from 2015 to 2018, according to data from. The global trade of wool was $8,139.53 million in 2016, which increased to $9,726.59 million in 2018. The total trade of wool has risen by 8.19 per cent in 2018 over the previous year.Pic: ShutterstockFurther, total trade of wool is anticipated to reach $12,720.44 million in 2021 with a CAGR of 9.32 per cent from 2018, according to.The

Around 65.4 per cent of Chinese people are fans of hanfu, the traditional clothing of the Han ethnic group, while about 44 per cent have worn such clothing in the past, according to a recent survey by China Youth Daily. Around 64.5 per cent of the 2,001 respondents believe the growing popularity of hanfu has aroused the interest of more people.Pic: ShutterstockSixty five per cent of the 2,001 respondents felt there were more people wearing hanfu at parks, scenic spots, and even in the streets, o

Godsent has entered a three-year exclusive apparel sponsor partnership with Swedish sports fashion brand Björn Borg under which. GODSENT will integrate Bjorn Borg Apparel into all its official match wear and merchandise clothing. A new collaborative apparel collection is expected in autumn 2020 to highlight the benefits of physical training alongside gaming.The collaboration has begun in autumn 2019.Godsent is regarded as one of the top esports organisations in the Nordic and seeks to emphasise

India’s continuous export contraction is expected to stop in 2020 but the rate of growth will be subdued because of the uncertain global trade situation due to rising protectionism. The slowdown in exports now is mainly due to a decline in petroleum products, which comprise 13.42 per cent of overall outward shipments, commerce secretary Anup Wadhawan said.Pic: ShutterstockHowever, the positive growth in the exports of non-conventional commodity groups like electronic goods, drugs and pharmaceuti

The area allocated for cotton cultivation in Azerbaijan in 2020 is 105,000 hectares, the country’s agriculture minister Inam Karimov said recently. According to the new subsidy mechanism, which will come into force in 2020, $129 will be issued to farmers for every hectare of sown cotton, and $58 for each tonne of harvested cotton, the minister said.Pic: ShutterstockIssuing subsidies through the Electronic Agriculture System will accelerate the process and improve the quality of service, Azeri ne