INSIGHTS Richemont's Q3 FY24 sales rose 8 per cent at constant rates to €5.6 billion, with strong growth in Asia Pacific and Japan. Europe's sales fell by 3 per cent, while the sales in Middle East and Africa increased by 10 per cent. Retail sales were up 11 per cent, but online sales dropped by 5 per cent. Nine-month sales grew 11 per cent at constant rates. Richemont, a leading Switzerland-based luxury goods conglomerate, has reported an 8 per cent increase in sales at constant exchange r

The textile industry's environmental impact is a long-standing subject of scrutiny, with parties ranging from concerned consumers to government officials chiming in to suggest how to make meaningful, positive changes. Here are five ways textile manufacturers could stimulate progress. Figure 1: Piled of folded textile Reduce the use of toxic processes One option for textile manufacturers to make improvements is to analyze which processes cause the most harm to the planet and look for ways to

INSIGHTS In the global retail sector, only 9 per cent of consumers are content with in-store experiences, and 14 per cent with online shopping. Despite 73 per cent preferring physical stores, they seek more variety and faster checkouts. Moreover, 65 per cent use mobile apps in-store, highlighting digital integration trends. AI in shopping interests 59 per cent. There is a growing disconnect between consumer expectations and the current offerings in the global retail sector, as the retail land

INSIGHTS After rapid expansion in 2023, the Asia-Pacific is expected to be the fastest growing one of the world economy in 2024, backed by resilient domestic demand in East Asia and India, according to S&P Global Market Intelligence. New orders placed with Indian manufacturers continued to show positive demand conditions in December, a top company executive noted. After rapid expansion in 2023, the Asia-Pacific (APAC) region is expected to be the fastest growing region of the world econom

INSIGHTS A team of scientists from the Zhejiang University has developed a new fibre inspired by polar bear fur, offering exceptional thermal insulation. Published in Science, this durable, washable, and stretchable aerogel fibre mimics the bear's fur structure, maintaining heat efficiently. Tested in a thin sweater, it provides insulation comparable to down jackets. Chinese researchers have created a groundbreaking knittable fibre, inspired by the unique structure of polar bear fur, offering

INSIGHTS The 2024 European Parliament elections are a critical moment for the European textiles and clothing industry. EURATEX's Manifesto outlines 15 proposals to enhance the industry's competitiveness. Key focus areas include developing a smart EU industrial policy, ensuring sustainability and competitiveness, and promoting free and fair trade among others. From 6 to 9 June 2024, European citizens will vote for a new European Parliament and, based on the results, a new European Commission will

INSIGHTS The global textile industry is seeing a transformation, with a focus on sustainability goals and commercial aspects, according to Smartex. As the supply chain makes up four-fifths of the industry's environmental impact, the modern textile factory is needed to prepare it for a change in primary data reporting and investment in more sustainable technology. The global textile industry is now witnessing a transformative shift, with a growing focus on sustainability goals and commercial a

INSIGHTS Global air cargo demand rose by 3.8 per cent year on year (YoY) in October. For international operations, the demand lagged slightly at 3.5 per cent YoY, according to the International Air Transport Association. Capacity was up by 13.1 per cent YoY in the month. Middle Eastern carriers performed the strongest, with a 10.9 per cent YoY rise in cargo volumes. Global air cargo demand, measured in cargo tonne-kilometres (CTKs), increased by 3.8 per cent year on year (YoY) in October this

INSIGHTS Though the global air freight market has been on a rollercoaster ride of late, 2024 could see a return of 'classic seasonality', according to Xeneta, whose Air Freight Outlook 2024 highlights muted consumer spending as a key factor in 2024. Demand for air freight is predicted to grow by 1-2 per cent next year and supply is expected to grow by 2-4 per cent. Though the global air freight market has been on a rollercoaster ride of late, next year could see a return of ‘classic sea

INSIGHTSThe EU continues to be resilient amidst the multiple shocks endured in recent years, but has lost growth momentum in 2023 amid high inflation and tighter financing conditions, with only a moderate uptick expected in 2024, the European Commission has said.Challenges include low productivity growth, green and digital transitions, ageing and social inclusion.The European Union (EU) economy continues to be resilient in the face of the multiple shocks endured in recent years, but has lost gro