Fashion Forward: Exploring Industry Trends & Insights

Welcome to the most recent release of Fibre2Fashion 's biweekly newsletter! Keep yourself abreast with our handpicked insights into the textile, apparel, and fashion sector. Delve into topics ranging from emerging technologies to sustainability endeavors and market shifts.

Prime News

Apparel exports from the Southeast Asian nation of Cambodia surged by 26.40 per cent to $1,369.712 million in the first two months of 2024. This accounted for 34.35 per cent of the country's total foreign income, which amounted to $3,985.482 million for the period. The data was provided by the General Department of Customs and Excise (GDCE) under the Ministry of Economy and Finance. However, the trade figures for February 2024 indicate that textile exports are gaining momentum after a long declining trend.

India and the European Free Trade Association (EFTA) finally signed a Trade and Economic Partnership Agreement (TEPA) on March 10, 2024, granting India duty-free market access for 99.6 per cent of its total exports to the region. Additionally, the agreement has secured a $100 billion investment in India over the next fifteen years, which will greatly benefit the country with its diverse and extensive labour force. However, the specific benefits of the TEPA and the investment for India's various sectors, employment, and particularly the textile industry, remain to be seen.

Prime Articles

The global sneaker market, valued at $80.19 billion in 2024, is experiencing a slowdown in growth due to oversaturation, limited innovation, and consumer shift towards available models. Despite challenges, collaborations remain popular, with brands like Crocs leading in 2023. However, innovation and strategic collaborations may spur future growth.

India’s textile industry, an integral part of the nation’s rich cultural heritage, stands at the cusp of a transformative journey. This pivotal sector, deeply rooted in tradition yet brimming with modern potential, offers a unique opportunity for economic growth and sustainable development. This article uncovers some key aspects in shaping India’s future.

In Other News

US’ retail industry supported 55 million full-time and part-time jobs in 2022, accounting for 26 per cent of total US employment, according to a new report released by the National Retail Federation (NRF). The figures are up from 52 million jobs and 25 per cent of total US employment in 2018.

The UK's luxury industry is making significant strides, contributing a remarkable ￡81 billion (approximately $102.7 billion) annually to the nation's economy, according to a report by Walpole titled ‘Luxury in the Making’. Conducted in collaboration with Frontier Economics, this research highlights the sector's vital role, accounting for 3.7 per cent of the GDP. Over the past five years up to 2022, the luxury sector has seen a growth of 69 per cent, now supporting 454,000 jobs directly and indirectly in various fields such as design, digital, high-tech manufacturing, and heritage crafts.

Articles For You

Manmade cellulose fibre production is witnessing a global surge propelled by sustainability concerns, technological advancements, and diverse applications. From textiles to automotive, its versatility is revolutionizing industries. With innovations like the lyocell process, cellulose fibres are becoming key players in the quest for eco-friendly materials.

Amidst India’s ambitious plans to increase its textile exports to $100 billion, this article introduces an innovative model of fashion education designed to drive this growth. By integrating insights from government schemes, expert interviews, and industry analysis, it proposes a strategic link between fashion education and sector-wide advancement.