INSIGHTS Vietnam's textile-garment sector is targeting an export turnover of $44 billion this year—up by 10 per cent YoY. The sector's exports last year reached $39.5 billion—down by 10 per cent YoY. The extended producer responsibility clause, the EU's carbon border adjustment mechanism and the trend of 'sustainable fashion' are some of the challenges this year. The textile-garment sector in Vietnam is aiming for an export turnover of $44 billion this year—up by 10 per cent

INSIGHTS There's has been a decline in the use of recycled materials in the economy since 2018, despite increased interest in the circular economy, Circularity Gap Report 2024 reveals. It identifies policy, finance and employment as key areas for improvement. Deloitte's partnership with Circle Economy Consulting aims to help organisations embrace circular practices. Since 2018, the majority of materials entering the economy are new, with the proportion of secondary, recycled materials steadil

INSIGHTS Indian textile and chemicals businesses may not be immediately hit due to the Red Sea crisis due to either better ability to pass on higher costs or a weaker trade cycle, CRISIL Ratings has said. The home textiles sector's mid-teen margins can absorb higher freight rates now. A prolonged strife can hit the profitability and working capital cycle of exporters. Indian businesses in the textile and chemicals sectors may not be immediately affected due to the ongoing crisis around the Re

Textile Raw Material Price Item Price Unit Fluctuation Date Crude Oil WTI 75.19 USD/Barrel 2.42% 2024-1-24 PX 1036 USD/Barrel 0.48% 2024-1-24 Crude Oil Brent 80.06 USD/Ton 1.91% 2024-1-24 PTA Buy 5876 RMB/Ton 0.79% 2024-1-24 PTA Sell 750 USD/Ton 0% 2024-1-24 MEG Buy 4582.5 RMB/Ton -0.38% 2024-1-24 MEG Sell 540 USD/Ton 0% 2024-1-24 CPL Buy 13650 RMB/Ton 0.74% 2024-1-24 CP

IntroductionThe efficient use of natural resources and the utilization of recoverable wastes are getting more and more important day by day since recovering wastes have both economic and environmental benefits. As the source material costs constitute the majority of the yarn production costs, decreasing raw material costs provide considerable advantages for spinners. Figure: Recycling of textile wastes from different sources. Textile wastes can be divided into two main groups: production waste

In the rapidly evolving landscape of retail, the e-commerce market has emerged as a dominant force, transforming the way consumers shop for goods, including textiles. As online shopping continues to gain momentum, the textile industry is faced with the challenge of adapting its supply chain solutions to meet the unique demands of the digital marketplace. Figure: Stitching the future: how textiles supply chains are evolving in the e-commerce age. The traditional textile supply chain, characteri

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