The latest report concerning the global luxury market by management consultant firm Bain & Company shows collective growth at 4 percent to an estimated 1.08 trillion euro sales in 2016. The report states there is evidence that luxury consumers are changing their spending habits for more personal high-end experiences, such as luxury travel, food and wine, and even fine art. Meanwhile, the personal luxury goods industry managed to hold steady amid global geopolitical uncertainty. Despi

In the second fortnight of October, the pace of cotton trades was weak in the Brazilian market leading to fluctuations in cotton prices. Buyers as well as sellers showed less interest for both, prompt and long-term deliveries, while low supply of quality cotton also led to cotton prices oscillating in the Brazilian market in the fortnight. According to a CEPEA report, cotton growers were focusing on deliveries on contracts signed earlier and indicated that they would make cotton available in

Cotton output in 2015-16 fell due to pest attacks, competitive prices of other crops and climate changes, resulting in the demand for cotton exceeding production for the second consecutive year. An increase in the share of polyester in the world fibre market is also affecting cotton, making polyester the greatest competitive threat for cotton. The issues pertaining to cotton and its cultivation were discussed at the international cotton advisory committee’s (ICAC) 75th plenary meeting being

Revival of factories like Tanzania-China Friendship Textile Company (FTC) is essential for Tanzania's economic development, said Dr. Adelhelm Meru, permanent secretary in the Tanzania Ministry of Industries and Trade. He was speaking during the 50th anniversary exhibition of 'Urafiki' Friendship Textile Mill and 20th anniversary of FTC held in Dar es Salaam. FTC is a China-sponsored project in Tanzania. It is a joint venture company between Changzhou state owned Textile Assets Operation Compa

A decade ago, buyers would have been lining up at China’s biggest trade fair to make deals with textile firms selling material and clothing at a fraction of the prices charged in Italy or the United States. This month, exporters say, the queues have gone. “You can’t survive if you make low-end goods,” said Melinda Zhang, chief executive of Nantong Kelin Textile Co Ltd, which employs about 250 people and supplies bedding to clients including the W Hotel in Singapore. “When you compete to

Bangladesh's garment exports to the US increased slightly in the first nine months of 2016, according to data from the US Department of Commerce. Between the months of January and September, $4.32 billion worth of garment items were shipped to the US, up 0.32 percent year-on-year. However, garment import by the US dropped 6.25 percent year-on-year to $80 billion during the period. Among the top 10 garment exporters to the US, only shipments from Bangladesh and Vietnam increased slightly

Export earnings bounced back in October thanks to higher shipment of garment items, according to data from the Export Promotion Bureau. Bangladesh fetched $2.71 billion from exports in October, which is 14.39 percent higher than the earnings in the same period a year ago and 2.84 percent higher than the monthly target. Earnings from the garment exports have been rising mainly due to increased efficiency in productivity and increased volume of value-added garment items, said Siddiqur Rahman

In the third quarter ended September 30, 2016, sales dropped 13.4 per cent to CHF 549 million as against CHF 634 million in the same quarter of 2015 at Switzerland based Oerlikon Group. At constant exchange rates, sales stood at CHF 544 million in the reporting quarter, while orders in the quarter dipped 6.1 per cent year on year to CHF 572 million. EBITDA also fell lower at CHF 81 million, or 14.7 per cent of sales in the three months to September 30, 2016 compared to CHF 111 million and 17.

Hermes confirmed stronger-than-expected global demand for luxury goods on Thursday, joining industry leader LVMH and Gucci owner Kering in outshining third quarter results forecasts. A sales rebound in the Chinese mainland, improvements in Hong Kong, a British surge thanks to a weaker pound and relative US resilience despite the stronger dollar have all lifted luxury stocks including LVMH, Kering, Hermes, Richemont, Burberry and Hugo Boss in the past month. The luxury goods sector is tradi

Commerce minister Tofail Ahmed said the government has set $5 billion export target of leather and leather goods by 2021.‘The government has decided to provide financial assistance for the export of leather and other products to attain the target of $60 billion export by the golden jubilee of the country’s independence,’ he added. The minister was addressing the opening ceremony of the fourth edition of the three-day Leather Tech Bangladesh-2016 as the chief guest in city’s International Conv