Retail News - Apparel Architects

Feb102024 by Faraz Khan1 Comment

Bangladesh’s Clothes Sales to US Drop in 2023

Retail News

Bangladesh's Clothes Sales to US Drop in 2023 Bangladesh: their clothing exports to the US, their biggest customer, tanked 25% last year. This means less money for the country and fewer fancy threads for American closets. Bangladesh Garment Manufacturers and Exporters Association president Faruque Hassan said that Bangladesh was not the only country which witnessed negative growth in exporting apparel to the US market rather the exports of all readymade garment manufacturing countries declined on the market in 2023. Read: Cloudset Launches Innovative Platform UAE Can Now Rent Designer Clothes Why the slump? Two main reasons: Global slowdown: The world economy isn't doing great, so people are buying less stuff, including clothes. High prices: Inflation is hitting everyone ...

Feb62024 by Faraz KhanNo Comments

UK Retail Struggles Persist Despite January Sales Efforts

Retail News

UK Retail Struggles Persist Despite January Sales Efforts Despite the much-anticipated January sales on the high street, UK retailers faced ongoing challenges as consumer spending failed to witness a significant uptick. Households continued to tighten their belts amid the prevailing cost of living crisis, resulting in a sluggish start to the year for Britain’s largest retailers. The British Retail Consortium (BRC) reported a modest 1.2% growth in total sales for January compared to the previous year, falling below the annual average growth rate of 3.4%. Factors such as higher living costs, adverse weather conditions, and strikes on the transport network weighed heavily on consumer spending. Inflation played a role in driving up the value of goods sold, masking a decline in sales volume...

Feb22024 by Faraz Khan1 Comment

UK Retail Resilience Despite Challenges in January

Retail News

UK Retail Resilience Despite Challenges in January In January, UK retail demonstrated resilience despite facing challenges such as adverse weather conditions, uncertainties around household finances, and rail strikes. The overall footfall in the UK experienced a modest drop of 0.8% year-on-year, reflecting a stable performance amid various factors influencing consumer behavior. The month-on-month footfall decline of 20.1% compared to December 2023 was in line with the traditional post-Christmas dip, which has been consistent at an average of -22.9% since 2009, according to data from retail analysts MRI Software. Read: Over 60% of UK Shoppers Embrace Second-Hand Clothing Inflationary pressures and the cost-of-living crisis remain key concerns, contributing to a higher month-on-mon...

Jan312024 by Faraz Khan11 Comments

Uzbekistan Explores Strategic Collaboration with Auchan to Showcase Products in Russian Markets

Retail News

Uzbekistan Explores Strategic Collaboration with Auchan to Showcase Products in Russian Markets Uzbekistan is gearing up to showcase its leather shoes, textiles, and electrical equipment in 230 Auchan hypermarkets spread across Russia. This promising collaboration follows discussions between Fakhriddin Boboev, Chairman of the Uzcharmsanoat association, and Pierre Cardelli, Director of the department of Auchan Retail Russia. The talks explored the possibility of featuring a diverse array of Uzbek products in Auchan's extensive retail network in Russia. Key focal points included discussions on an educational program in the commerce sector and the potential creation of Auchan's sourcing company in Uzbekistan. Read: Duvaltex Revolutionizes Textiles with Ocean Waste CLEAN IMPACT TEXTILES...

Jan292024 by Faraz KhanNo Comments

Bangladesh Triumphs Over China as Top Garment Exporter to the UK

Retail News

In a notable turn of events, Bangladesh has emerged as a strong contender against China in the race to become the top exporter of readymade garments (RMG) to the United Kingdom. Recent reports, citing UK government data, reveal that Bangladesh surpassed China four times between January and November of the previous year, reclaiming the top position in the UK apparel market. This shift underscores Bangladesh’s resilience and competitiveness, attributed to factors such as pricing strategies and sustained volume exports. During the January-November period of the previous year, Bangladesh displaced China as the leading apparel exporter to the UK in January, March, April, and May. Despite being the second-largest apparel exporter in terms of value, Bangladesh maintained its supremacy as the t...

Jan272024 by Faraz KhanNo Comments

John Lewis Trims Redundancy Payouts Amid Ongoing Cost-Cutting Efforts

Retail News, News

John Lewis Trims Redundancy Payouts Amid Ongoing Cost-Cutting Efforts The John Lewis Partnership (JLP) is set to reduce its redundancy pay package for workers as part of its ongoing cost-cutting initiatives. The retail giant, encompassing the department store chain and Waitrose grocery business, aims to halve the existing redundancy pay, offering one week of pay per year as a partner instead of the previous two weeks. Read: Adidas and Vintage Threads Unveil Unique ‘Predator’ Collection to Celebrate 30 Years of Iconic Football Boots The move has raised concerns about potential future job cuts within the organization. In addition to helping the company manage costs, the revised plan may contribute to supporting budgets and upcoming pay reviews. The changes also include setting a...

Jan262024 by Faraz KhanNo Comments

India’s Fast Fashion Boom: Unveiling Trends and Opportunities in the 2023-2030 Market

Retail News, News

India's Fast Fashion Boom: Unveiling Trends and Opportunities in the 2023-2030 Market The latest market research report, "India Fast Fashion Market 2023-2030," delves into a comprehensive analysis of the industry, offering profound insights into market dynamics, regional assessments, key players, and industry developments. This research aims to provide a thorough exploration of India's fast fashion landscape, fostering a deep understanding of its economic opportunities and dynamics. The objective is to empower clients with insights spanning historical, current, and future perspectives, facilitating informed decision-making in strategic financial investments. Read: Indian Textile Association Gears Up for Eco Conference 400 Delegates to Propel Sustainable Practices Market Dynamics: ...

Jan252024 by Faraz KhanNo Comments

Chinese Delegation Explores Collaborations with BGMEA in Textile and Apparel Sector

News, Retail News

Chinese Delegation Explores Collaborations with BGMEA in Textile and Apparel Sector BGMEA: In a bid to foster stronger ties and explore potential collaborations, a delegation from China, representing the China Knitting Industrial Association and the China Cotton Textile Association, visited the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) on Monday. The visit aimed to create opportunities for mutual growth and enhancement of trade benefits, with a specific focus on the textile and apparel sector. Read: Dior’s Couture Extravaganza: A Fusion of Fashion and Artistry with Isabella Ducrot Led by Lin Yunfeng, Chairman of the China Knitting Industrial Association, Jing Shenquan, Vice Chairman of the China Cotton Textile Association, and Wei Wei, Vice Director of the D...

Jan232024 by Faraz KhanNo Comments

Vietnam Explores Textile Trade Expansion with Canada

News, Retail News

Vietnam Explores Textile Trade Expansion with Canada Vietnam's textile and garment industry is aiming to strengthen its presence in the Canadian market by advocating for a bilateral or free trade agreement. Despite holding the position of the third-largest exporter of textiles and garments to Canada, there is room for growth, with Vietnam currently accounting for a 12% market share in Canada's imports. The industry attributes its success to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). At a recent textile exhibition in Canada, Vietnamese companies VEG and Thái Sơn Co demonstrated their commitment to CPTPP's origin principles. To further boost development, the industry is urging for a reduction in export taxes through a new agreement. VEG, which e...

Jan172024 by Faraz KhanNo Comments

India and Bangladesh Lose Textile Exchange Accreditation Following Summer Suspension

News, Retail News

India and Bangladesh Lose Textile Exchange Accreditation Following Summer Suspension The International Organic Accreditation Service (IOAS) has officially revoked its accreditation for all Textile Exchange standards in India and Bangladesh, effective from January 3. This decision comes five months after the initial suspension of accreditation for both countries starting on August 1. The withdrawal is attributed to the failure of these nations to adhere to the rigorous auditing and certification standards set during the annual assessment. While the status change specifically impacts India and Bangladesh, other countries accredited by the Control Union Certifications (CCPB) remain unaffected. Transaction certificates issued before the status change are considered valid unless there is...