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Fuelling growth and creating employment
Indian textile and apparel market is estimated at $118 billion, 69% of which is domestic consumption while exports constitute the rest 31%.
The global apparel consumption in 2016 is estimated to be $1.7 trillion, which formed around 2 per cent of the world GDP of $73.5 trillion. EU-28 was the largest apparel consumer market worth $400 billion, which was followed by markets of the USA, China and Japan. These top four markets together constituted approximately 62 per cent of the global apparel consumption.
Raymond to reposition four major brands
Textile and apparel maker Raymond is repositioning its menswear brands even as it enhances product portfolios. Apart from ceremonial and ethnic wear, a range of accessories and footwear offerings will be added across the four brands—Raymond brand of ready-to-wear apparels, Park Avenue, ColorPlus and Parx—over a period of time.
Lux to step into lingerie biz
Lux Industries is planning to enter the woman’s lingerie category to drive better margins in the hosiery segment. The company will be extending its woman’s legging brand Lyra into lingerie and pitting itself against domestic players like Lovable in the mid-market segment.
Record attendance at Texworld USA
The Winter 2017 editions of Texworld USA and Apparel Sourcing USA closed their doors recently, welcoming a record number of verified visitors across three days.
Amazon targets big share of US apparel market
Amazon – a behemoth with global sales of $107 billion in 2015, more than 304 million active customer accounts and over 2,30,000 employees – is using its power to crack open a big share in the $254 billion apparel market in the US. Amazon has already reached a level where it can claim about 6.6 per cent of the market.
India exploring export prospects with China
To grab the market share vacated by Chinese apparel manufacturers, India's Clothing Manufacturers' Association of India (CMAI) has signed a memorandum of understanding with China Chamber of Commerce for Import and Export of Textiles (CCCT) to explore potential areas of mutual co-operation for increasing apparel exports from India.
India’s position in global textile industry
The top 10 markets in the world for textile and apparel constitute for 48 per cent of India’s total textile and apparel exports. The current global apparel market is worth $1.7 trillion and it constitutes around 2 per cent of the world’s GDP. The European Union, USA and China are the world’s largest apparel markets with a combined share of approximately 54 per cent.
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