Apparels

Second-hand clothing sector contributed $7.6 billion to EU and UK’s GDP in 2023, supporting 150,000 jobs, including 110,000 green jobs.
A recent report highlights the sector’s role in driving sustainable growth, mainly in lower-income countries.
The report calls for supportive policies to boost the sector’s potential as a key player in building a circular economy and addressing climate goals.

Bangladesh’s export earnings grew by 6.78-per cent YoY in September to $3.51 billion and by 5.04 per cent YoY to reach $11.37 billion in Q1 FY25.
Export of garments in Q1 were worth $9.29 billion—a 5.34 per cent YoY growth.
Out of that, export of knitwear was worth $5.22 billion—a rise of 5.72 per cent YoY, while that of woven garments was worth $4.07 billion—a rise of 4.85 per cent YoY.

The Bangladesh Garment Manufacturers and Exporters Association has requested a Tk54-crore ($4.5-million) soft loan from the Bangladesh Bank to support 39 garment units facing financial difficulties and struggling to maintain full-scale production due to disruptions caused by the recent unrest.
The loan will ensure timely payment of wages to around 56,000 workers employed at these factories.

India’s readymade garments exports saw an 11-per cent YoY growth in August, the textiles ministry said.
The domestic textile sector is expected to grow to $350 billion by 2030, it noted.
Investment worth over ₹90,000 crore is expected to flow through the PM MITRA Park and the Production-Linked Incentive Scheme in the next three to five years.

H&M will open its first store in Hue at Aeon Mall on October 11, 2024, marking its 14th store in Vietnam.
The store offers a wide range of fashion for women, men, and kids, with a focus on sustainability through initiatives like garment recycling.
H&M aims to blend modern fashion with Hue’s rich cultural heritage, offering locals and visitors an inclusive and expressive shopping experience.

Renowned sports brand Puma has collaborated with BMW M Motorsport to launch ‘Neon Energy’ collection.
The theme captures the vibrant street art culture of Las Vegas.
The collection consists of crewneck sweatshirts, T-shirts, sweatpants, trucker caps, and sneakers among other things.
This range features graffiti-inspired patterns and bright neon accents.

Africa holds a modest 3.63 per cent of the US apparel import market, with $1.67 billion in imports from January to July 2024, ranking fifth regionally.
The Asia-Pacific dominates with 71.81 per cent. Africa’s share remained consistent despite fluctuations, with imports rebounding after a 2020 dip due to the pandemic and growing steadily through 2022, before a 20.11 per cent decrease in 2023.

Nigeria’s vice president Kashim Shettima has commissioned the Enugu State Garment and Fashion Hub and unveiled the 5th expanded national micro, small and medium enterprises (MSME) clinics.
The clinics are joint efforts of the government and the Enugu state to boost MSMEs.
The hub is likely to create 48,000 jobs.
Shettima announced a N150,000 grant to all MSMEs that shine at the MSME clinics.

Ireland’s cotton apparel imports reached $565.2 million in the first half of 2024, representing 42.69 per cent of total apparel imports ($1.32 billion).
Trousers and shorts topped the list, with imports of $271.6 million.
Man-made fibre apparel accounted for 37.73 per cent, while other materials like wool, silk, and animal hair made up smaller shares.

Healthy order inflows amid rising demand will lift the revenue of RMG exporters in India’s Tamil Nadu state by 8-10 per cent to $5.11 billion in this fiscal, CRISIL Ratings said.
Operating profitability will rise by 25-30 bps on better operating leverage, a 1-3-per cent rise in realisations and stable yarn prices.
The centre’s impetus and Bangladesh’s gas crisis would also benefit the industry.