Apparels

Despite recent diplomatic tensions, Canada’s garment imports from India have remained stable, with India holding a consistent sixth position in Canada’s apparel supplier rankings.
In 2024, Canada imported $234.062 million in apparel from India, accounting for 3.35 per cent of its total imports.
Although India briefly ranked fifth in 2022, its share has fluctuated slightly year-to-year.

Sosandar plc reported H1 FY25 revenue of £16.2 million (~$19.76 million), down from £22.2 million (~$28.87 million) YoY, with a strong gross margin improvement to 62.2 per cent.
Aided by cost management, pre-tax losses narrowed to £0.7 million.
The brand opened its first three UK stores and forecasts FY25 revenue of £40 million (~$52.02 million), focusing on profitability and sustainable growth.

India’s political stability is a key factor for US buyers, making the country a reliable choice for sourcing apparel, a report by the US International Trade Commission noted.
Praising India’s competitiveness, particularly in cotton garments, the report says key challenges for the industry that hinder scalability include increased labour costs, small production units and expensive logistics.

India’s readymade garments industry is expected to see moderate revenue growth of 4-6 per cent this fiscal, compared to 6 per cent last FY24, due to sluggish domestic demand and inventory buildup.
Export revenue is predicted to rise 5-7 per cent.
Operating margins are expected to remain stable at 11.0-11.5 per cent, with credit profiles supported by modest capex and steady working capital cycles.

Sri Lanka’s shirt exports to the US have seen a consistent drop in average unit prices, declining by 11.98 per cent to $8.96 in early 2024 from $10.18 in 2022.
Export volumes and values also fell, impacted by weaker demand from US brands.
Export values decreased 29.48 per cent from 2022 to 2023, marking a significant challenge for Sri Lankan exporters amid fluctuating global market conditions.

German shoe retailer Deichmann recently announced buying the trademark rights of the Hong Kong-headquartered fashion brand Esprit.
Esprit Europe GmbH and six other German companies of the fashion group had filed for insolvency under self-administration in May this year.
Esprit said Deichmann is taking over its shoe trademark rights in the US and Europe, but not operational company shares.

BESTSELLER’s first Supply Chain Due Diligence Report provides transparency on its sourcing practices, addressing human rights, environmental, and product safety risks across 350 suppliers and 700 factories in 18 countries.
The report details BESTSELLER’s efforts to mitigate these risks, showcasing its commitment to responsible supply chain management across its +20 brands.

Skechers reported a 15.9 per cent YoY sales increase in Q3 2024 to $2.347 billion, with international and domestic growth.
Gross profit rose 14.1 per cent, while the gross margin decreased slightly due to lower average selling prices.
The company expects Q4 sales of $2.165–$2.215 billion and aims for $8.925–$8.975 billion for FY 2024, targeting $10 billion by 2026.

Bangladesh’s apparel exports to the EU reached $11.112 billion in Jan-Jul 2024, down from $11.679 billion in 2023, amid growing political unrest and student protests.
Exports fluctuated, with a sharp decline in June before recovering in July, just before Prime Minister Sheikh Hasina’s ousting.
Europe, including UK, contributed 57.41 per cent to Bangladesh’s total apparel exports in this period.

The New York state in the United States recently passed legislation (Senate Bill S1322) to specifically prohibit the sale of products containing PFAS, synthetic chemicals that are resistant to water, oil and heat, and break down slowly over time.
The piece of legislation, which takes effect from January 1 next year, will create additional PFAS regulations mandatory for the garment industry.