Positive price movements were witnessed across the entire offering at Australian wool auctions this week. The Australian Wool Exchange (AWEX) Eastern Market Indicator (EMI) ended the week at 1545ac clean/kg which was a 28ac jump or 1.9 per cent. The USD EMI was far more effected and bounced 2.7 per cent or 28usc higher and closed at 1057usc clean/kg level.Pic: ShutterstockAll types and descriptions were well sought, despite the much stronger (+ 0.85%) Australian dollar (AUD) against the US Dolla

The global trade of artificial yarn has been growing with a high CAGR since 2013 except for the drop in 2015, according to data from TexPro. In terms of value, the global artificial yarn export was $493.90 million in 2016 and reached $588.39 million in 2018 with a growth rate of 19.23 per cent, according to Fibre2Fashion's market analysis tool.The total artificial yarn export moved up by 11.92 per cent in 2018 over the previous year, and is anticipated to reach $765.09 million in 2021 with a

Rue21, a fast fashion retailer, has announced that the company has named Catherine Cat Morisano as the chief merchandising officer and Mary Blodgett as senior vice president of stores. Rue21, the pioneer of fast fashion which is headquartered in the US, offers stylish apparel and accessories for men, women, and plus sizes at prices everyone can love.Pic: Rue 21Prior to joining Rue21, Morisano was most recently executive vice president and chief merchant at Charlotte Russe. Prior to Charlotte Rus

The primary domestic markets of US high-end activewear brand Spitfire Petite are California, Florida and Arizona and it is also expanding its reach across the North East (NE), southern Atlantic coast and the Mid-West, according to Founder Amy Lipton, who said the company is growing its presence online and in pro-shops and boutiques across the country.“We recently received a capital injection from Patti Meier Grundhofer, founder of MeierGroup LLC, who also joined the company as executive vice pre

The Global Footwear Manufacturing Summit will be held at Grand Hotel Saigon, Ho Chi Minh City, Vietnam, from 26 – 28 February 2020.Courtesy: Copex GlobalSince 2010, the major footwear companies that have been steadily moving production out of China and into Vietnam, Cambodia, Indonesia, Thailand, Bangladesh, among other countries, as the rising wages and its focus on more valuable items in China.The conference will extensively highlight the best destination for our footwear manufacturing.This co

Cotton, the most important fiber crop of India plays a dominant role in its agrarian and industrial economy. It is the backbone of our textile industry, accounting for 70% of total fiber consumption in the textile sector, and 38% of the country’s export, fetching over Rs. 42,000 crores. The area under cotton cultivation in India (8.9 million ha) is the highest in the world, i.e., 25% of the world area and employs seven million people for their living.Figure 1: Organic cotton still only occupies

Indorama Ventures (IVL), a leading chemical producer, has announced its commitment as part of the New Plastics Economy to help create a world where plastic never becomes waste. The company is now accelerating its efforts in support of a very ambitious goal to increase recycled content volumes by at least 750,000 tonnes, while also recently pledging US$ 1.5 billion towards achieving this target by 2025.The company is among 400 organisations that committed to eliminate problematic plastic packagin

India will soon make amendments to the definition of a micro, small and medium enterprise (MSME), according to MSME minister Nitin Gadkari, who recently said five crore jobs are expected to be generated in the sector in five years. Finance minister Nirmala Sitharaman had in August said amendment of the MSME Act would be considered for a single definition.Pic: ShutterstockGadkari was speaking on the sidelines of the Luxury Symposium 2019.The update may allow a single definition for purposes relat

India’s Department for Promotion of Industry and Internal Trade (DPIIT) is planning to set up a single window system to handhold foreign investors keen to invest in the country , according to DPIIT secretary Guruprasad Mohapatra, who recently said the system is expected to have representatives from both the central and state governments.The system will help in getting all relevant approvals and clearances required by foreign investors. A proposal regarding this was prepared by the department.Moh

There is currently frenzied activity and investment taking place to commercialise self-driving cars, involving both the established automotive manufacturers and the technology giants of Silicon Valley, according to the newest in-depth market reportAutomotive Textiles: Preparing for total transformation (5th edition).The 5thedition of the report is written by Adrian Wilson. © Textile Media Services“It is no exaggeration to say that this could completely reshape the landscape of the global automot