The Lenzing Group has made a huge leap forward in introducing blockchain technology. After joining the platform of the technology company TextileGenesis earlier this year, a market leader in specialty fibres made from the renewable raw material wood presented the first pilot at this year’s Fashion Summit in Hong Kong this week.The blockchain technology enables brands and consumers to identify Tencel branded fibres. © LenzingThis pioneering pilot project was conducted in close cooperation with Te

The global market for nanotextiles is expected to grow from US$ 5.1 billion in 2019 to US$ 14.8 billion by 2024 at a compound annual growth rate (CAGR) of 23.6% for the period of 2019-2024, according to the latestby Trends Market Research. This report provides an updated review of nanotextile technology, including materials and production processes, and identifies current and emerging applications for this technology.The study provides an updated, comprehensive description of nanotextiles. © Tre

Kornit Digital, a worldwideleader in digitalprinting technology and Spreadshirt, a global on-demand apparelprinting more than 5.5 million items annually, have announced an expanded partnership for Spreadshirt to grow and renew its fleet of DTG printers to support increased demand and to expand into new categories.Pic: Kornit DigitalSpreadshirt recently launched a division for third-party fulfilment that is already seeing rapid growth. The company also plans to expand into polyester sports clothi

Considering an impending Brexit, the United Kingdom needs to reach its own bilateral agreements with countries that grant preferences to the European Union (EU) nations to maintain preferential market access, according to the United Nations Conference onand Development (UNCTAD), which said a no-deal Brexit will result in UKlosses of at least $16 billion.UK merchandise export shares (2018). Pic: UNCTADThat would represent nearly 7 per cent loss of overall UK exports to the EU and most of the loss

Fashionsustain, the Neonyt conference which focusses on sustainableinnovations, will be held outside Germany twice this month, bringing together leaders in textile sector. On September 20, 2019, the event will be held during the LA Fashion Festival in Los Angeles. On September 26, 2019, it will be held with Intertextile Shanghai Apparel Fabrics.Pic: Neonyt FashionsustainAt the LA Fashion Festival (LAFF), Fashionsustain will be taking place under the motto ‘The change of fashion is now’, in close

Levi Strauss (Levi’s) has entered into an asset purchaseto acquire all operating assets related to the Levi’s and Dockers brands from The Jeans Company (TJC), Levi’s distributor in Chile, Peru, and Bolivia, for approximately $35 million, plus transaction costs. Levi’s is one of the leading brand-name apparel companies and a leader in jeanswear.The agreement includes approximately 80 Levi’s and Dockersstores, distribution with the region’s leading multi-brand retailers, and the logistical operati

Botswana’sand apparel producers reportedly seem to be giving up hope of exporting to the US under the duty-free provisions of the African Growth Opportunity Act (AGOA), preferring instead to focus on the local and regional markets. From 1.8 billion pula (P) in AGOA textile exports by local firms in 2008, the figure last year was at around P30,000.Pic: ShutterstockIn the same year, total textile exports were pegged at P233 million or 29 per cent higher than 2017 figures, implying that exports wer

To improve transmission of interest rates, the Reserve Bank of India (RBI) on August 4 asked banks to link lending rates on floating rate loans to borrowers belonging to, personal and micro, small and medium enterprises (MSME) categories to an external benchmark beginning October 1. Banks can, however, link loans to other segments of borrowers as well.Pic: ShutterstockIn a statement, RBI said the transmission of policy rate changes to the lending rate of banks under the current marginal cost of

The United Kingdom is keen to collaborate with India to develop a business climate that attracts British firms, according to British high commissioner to India Dominic Asquith. Ease of doing business factors are more important than the growth rate and considering a balance of interest in investments in each other’s nations becomes important, he said.Pic: ShutterstockOn his two-day visit to Ahmedabad recently, Asquith met Gujarat chief minister Vijay Rupani and business leaders from the state to

Owing to fierce competition between agents in the Brazilian market, the Center for Advanced Studies on Applied Economics (CEPEA)/ESALQIndex, with payment in 8 days, decreased 1.4 per cent in August 2019, closing at 2.4698 BRL per pound on August 30. The average Index in August, at 2.4667 BRL per pound, is six per cent lower compared to July 2019.Pic: Shutterstock"As cotton processing and the deliveries of the cotton purchased through term contracts advanced in Brazil in August, some higher