India’s Textiles & Clothing Exports

India’s textiles and clothing exports stood at US$ 19.15 billion in 2006-2007 and improved to US$ 22.14 billion in 2007-2008. Textiles and clothing exports came down to US$ 20.94 billion in 2008-2009. However, in rupee terms the exports of textiles and clothing during 2008-2009 were of the order of Rs.96,309 crore as against Rs.89,121 crore in 2007-08, thus representing an appreciation of 8.07%. In absolute terms, the textiles and clothing exports as percentage of India’s total exports declined from 15.16% in 2006-2007 to 13.59% in 2007-2008 and...

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BGMEA, labour leaders form nine bodies to monitor RMG sector

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and labour leaders have jointly formed nine committees to monitor the situation in the apparel sector, specially in Dhaka, ahead of the Eid-ul-Azha festival. The BGMEA leaders and the labour leaders formed the committees at a meeting held at the BGMEA office in the city Saturday.BGMEA officials said the committees would act promptly to address any disturbance in the apparel sector in Dhaka.“The committees will closely monitor the labour situation and find out the ways to solve the...

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Macy’s posts slight sales decline as shoppers emerge

Macy’s Inc reported a 0.8 per cent dip in its October same-store sales, ahead of the retailer’s outlook and putting it on strong footing to meet or beat its second-half projections. Cincinnati-based Macy’s operates roughly 850 department stores.Analysts surveyed by Thomson Reuters expected the Cincinnati-based department store chain to report a same-store sales decline of 0.1 per cent. Macy’s total sales slipped by 1.3 per cent to 1.69 billion dollars from 1.71 billion dollars a year ago.For the fiscal third quarter, its same-store sales declined...

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Menswear companies focus on carving up domestic market

On the 3rd Annual Meeting and Summit of Men''s Wear Commission, Jiang Hengjie, Executive Vice President of China National Garment Association said the competition within Chinese menswear industry has been upgrading; China's international competitiveness shifts from labor cost advantage to advantages in product development, product quality, brand creativity and cultural innovation.During industrial structure adjustment and upgrading, industrial resources start to flow and restructure; industry regional distribution goes through minor adjustments....

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Italy Textile, Shoe, Leather, Eyewear Indus Want Government Support

Italy's textile, leather, shoe and eyewear industry leaders said Monday they have formed a united front to ask the government to help sustain jobs, salaries and investments, as the global economic turmoil batters the retail sector.In a statement, the groups said they wrote a letter to Italy's Prime Minister Silvio Berlusconi, asking the government for an "urgent" meeting to discuss the negative effects of the global crisis on the sectors.Italy is the largest exporter of clothing, textiles and shoes in the 27-member European Union. According to...

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Dayanidhi Maran exhorts jute industry to focus on product

The mantra for survival of jute industry is product diversification and the Jute Geo Textiles (JGT) provide an opportunity to the Jute Industry to diversify and capture new market, said Thiru. Dayanidhi Maran, Union Minister of Textiles while launching the International Project for the Development and Application of Potentially Important Jute Geotextiles, here today. Ambassador Ali Mchumo, Managing Director of the Common Fund for Commodities, Tmt. Rita Menon, Secretary, Textiles, Thiru. Sutanu Behuria, Chairman, International Jute Study Group (IJSG)...

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Ban on export of cotton, thread demanded

Chairman All Pakistan Bed Sheet and Upholstery Manufacturers Association (APBUMA), Khawaja Muhammad Anees, has urged government to impose a ban on export of cotton and thread in order to ensure the maximum export of value added products and to earn reserves for the country.Khawaja Anees said that increasing ratio of cotton export from the country has become a sign of threat for the local textile and spinning sector. Decline in cotton production target and the increase of thread export from the country has become the cause for the non-availability...

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American Apparel Q3 profit soars despite lower sales

Moves to streamline its inventories and switch towards higher-margin retail sales have helped lift T-shirt and casual clothing firm American Apparel Inc to an 82.6 per cent hike in third quarter profit.The Los Angeles based firm, which makes and retails branded fashion basics, said its net income rose to 4.2 million dollars or 0.05 dollars per share, up from 2.3 million dollars a year ago.Last year's figures were depressed by stock compensation payments, the company said."While we are pleased that we were able to deliver a profit in the third quarter...

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Hugo Boss Q3 profit drops 25% as sales fall

German fashion firm Hugo Boss posted a 24.8 per cent drop in third quarter net income amid a continuing slowdown in demand for luxury goods. The company said it doesn't expect to see profitable growth until next year.For the three months to September 30, profit fell to 51.5 million euros from 68.5 million euros in the same period last year. Quarterly sales dropped to 450.4 million euros from 533 million euros, a fall of 15.5 per cent.However, the company said it has "held its ground well" so far this year, with overall sales down 9 per cent to...

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