Vega Balls Vietnam, belonging to Taiwanese group Yuan Chi, recently received an investment certificate for its venture into Dong Mai industrial park (IP), in the north-eastern province of Quang Ninh, developed by state-owned leading building material maker Viglacera. Accordingly, the company will build a large-scale export sportswear manufacturing facility over 32,400sq.m in the IP, with a total investment capital of VND330 billion ($15 million) in the first phase. The plant is expected to co

Despite all odds, Bangladesh remains as the second largest exporter of clothing products after China as its market share rose to 5.9% in 2015 According to the World Trade Statistical Review 2016 released last month by the World Trade Organisation (WTO), Bangladesh global market share in clothing rose to 5.9% in 2015, which was 5.1% in the previous year. China’s market share stood at 39.3% topping the list, which was 38.6% in 2014. The global market size of the RMG products is around $

Garment retailers in India have started gradually shifting from the maximum retail price regime (MRP) to fixed price regime after Union Finance Minister Arun Jaitley, while announcing the Union Budget 2016-17, announced a 2% levy of excise duty on garments and made ups with retail price of over Rs 1,000. This means, excise duty was levied on garments based on its MRP, irrespective of the actual realisation for the retailer. For example, a branded shirt with an MRP tag of Rs 1,400 is sold with

Garment makers in Tirupur have urged textile mills in their region to drop the move on increasing prices of hosiery yarn as cotton prices are cooling off. Cotton prices have come down by Rs 2000 per candy (about 355kg) and in this scenario, the inclination of mills to increase cotton yarn prices will totally affect the Tirupur garment export sector, said A Sakthivel, president, Tirupur Exporters' Association (TEA). Hosiery yarn prices, which were ruling at Rs 216 per kg in April, are now quot

In a survey, ACIMIT, the Association of Italian Textile Machinery Manufacturers found that orders in the second quarter of 2016, slipped 7 per cent from a year ago quarter for Italian textile machinery makers. According to ACIMIT, although domestic markets held their ground, overall orders were down, primarily due to slowdown in export orders. “We're experiencing a period of profound instability, especially in geopolitical terms, resulting in stagnating investments in many of our benchmark

Doan Ngoc Hieu, managing director of Leedo, confirmed that foreign countries were the target markets for most companies. Very few companies try to exploit the domestic market because they think big Vietnamese footwear manufacturers such as Asia and Biti’s hold much of the market share. However, there is still large room for Vietnamese manufacturers in the home market, as there is high demand for footwear makers. Hieu noted that the majority of Vietnamese footwear companies are household-ru

The central Thua Thien-Hue Province plans to spend more than VND6.6 trillion (US$295 million) on transforming itself into a textile and garment hub in the country's central region. This is the main objective of the province's textile and garment planning for the 2016-2020 period. Under the plan, the province will focus on developing the domestic market and expanding export markets, with exports being a driving force for the sector's development; boosting research, product design, brand-bui

Vietnam textile and apparel sector posted export revenue of only US$12.76 billion in the first six months, growing 4.72% year-on-year representing just 41% of the full-year target. Again, the growth was mainly driven by foreign direct investment (FDI) firms as the domestic peers struggled to find new orders in the period, said Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), at a press conference in Hanoi last week. According to VITAS, finding new orders would co

Shift of spinners from 100 percent cotton to polyester and viscose seen as they are unable to pass on the price rise of cotton to customers due to lackluster market. The shift to man made or blended fibres is likely to help them restore margins and profit and rule out the option for a production cut. Spinning units have been blending cotton with polyester and viscose after cotton prices rose steeply due to restricted supply and lower output. Suresh Maheshwari, president of a major textile

Industries Minister Amir Hossain Amu addressing an inaugural ceremony of the three-day apparel exposition arranged by the country`s fashion designer in the capital’s National Museum auditorium on Sunday said that Bangladesh will soon secure the top position in the world in Ready Made Garments (RMG) sector. The RMG sector is a very important sector in the economy of Bangladesh and now stands second position in exporting RMG. In the programme, he underscored the need for making skilled manpo