Colour Chronicle - June 2013

GLEANINGS FROM THE PRESS
format retail’s impact on small merchants in a
niche segment.
– Fashion United, April 10, 2013
Indian govt
Urges cotton yarn producers
to cut prices
Textiles Ministry of India has called on the
domestic cotton yarn producers to maintain
the prices of their produce at low levels, so
as to avert any negative impact on any of the
textile industry segments, particularly the
powerloom sector, ZeeBiz said quoting PTI.
During a stakeholders meeting held to
discuss the issues confronting the country’s
textile and apparel industry, Textiles
Secretary Zohra Chatterjee urged the cotton
yarn producers to reduce prices to avoid
the need for any Government intervention,
Apparel Export Promotion Council (AEPC)
Chairman A Sakthivel said.
Over the past few weeks, cotton yarn prices
have experienced a sharp rise of about 20
per cent causing several powerlooms to
face difficulties, consequently leading to job
losses.
This is because local garment exporters
procure orders four to six months in advance
quoting prices on the basis of cotton yarn
prices then prevailing in the market. But
now as the cotton yarn prices have gone up
unexpectedly, all their calculations have gone
wrong, and they cannot even add new profit
margin, as most of the times the orders have
been grabbed amid tough competition, the
AEPC Chairman explained.
– fibre2fashion, April 11, 2013
Delhi
To host ICAHT-2013 this
September
The 9th International Conference on Apparel
& Home Textiles (ICAHT-2013) organised
by OGTC, would be held on September
20 and 21, 2013 at India Habitat Centre in
New Delhi. The underlying theme of the
conference is based upon creative thinking.
Through this cross-disciplinary event, the
idea is to explore creativity and the creative
process through the lenses of imagination
and innovation.
According to an estimate, the global apparel
industry will reach a value of 1,800 billion
dollars (` 96,66,000 crores) by the end of
2013. This is inspiring apparel manufacturers
to adopt new techniques to increase trade.
New business models and competitive
strategies are being used to enhance profits.
– Fashion United, May 5, 2013
Indian textile sector
Keen to explore emerging
markets
Indian textile and garment manufacturers are
eyeing on emerging markets, including South
America, Japan, Australia, New Zealand and
Africa, for exports.
According to industry representatives, Indian
textile sector witnessed a negative growth
mainly due to decline in clothing exports in
2012-13. However, exports to non-traditional
markets recorded positive growth during this
period and the textile and apparel makers
expect the growth to continue in the current
fiscal year.
Speaking to fibre2fashion, secretary of
Confederation of Indian Textile Industry
(CITI), D.K. Nair said, “Last fiscal year may
have ended with a negative growth in exports
of textiles, basically because of the decline
in garment exports. But now the demand for
our garments has started improving in the
traditional markets and exports to some new
markets have also started growing. Thus,
our exports of textiles during 2013-14 are
expected to register a significant positive
growth.”
– fibre2fashion, April 6, 2013
Freecultr, Lecoanet Hemant
Team up for new collection
The Fashion Freedom Project by Freecultr
delivers innovative design collaborations
leading to commercial concepts that benefit
its consumers. In the first series of its
collaborations, designer Lecoanet Hemant
has designed a capsule collection targeted at
a wider audience and delivered at affordable
price points with perfect fits.
“This collaboration marks a new and exciting
chapter in our world of fashion. It bridges
the design aesthetic of our luxury offering
in menswear with the innovation and reach
of our favourite e-high street brand – a new
voice for our vision,” says Hemant Sagar. The
collection focuses on freedom of expression
for every age wardrobe. Inspired by the
urban man who loves to travel, the collection
consists of semi-casual shirts, trousers,
T-shirts and shorts in pastel colors and travel
bags to complete the look.
– Fashion United, May 8, 2013
Raymond
Sets focus on growth and
profitability
After focusing on consolidation and margin
improvement for a year, apparel maker
Raymond intends to return its sights to
growth and higher profitability in the current
fiscal year. Raymond’s newly appointed chief
financial officer M. Shivkumar has indicated
that the company’s net debt may go up by
` 150-200 crores this fiscal owing to the
company’s capital expenditure plans.
Around ` 342 crores of debt is due for
repayment in the third and fourth quarters
of 2013-14, which will be replaced by longterm
debt, or other loans, he said. Raymond
appointed consultancy Accenture Plc last
year for a margin improvement programme
and consolidated its apparel business
structure to improve cost efficiency. These
measures have resulted in the firm boosting
cash flow from operations by 42 per cent
to ` 326 crores in the year ended March,
according to brokerage Phillip Capital
(India).
– Fashion United, May 8, 2013
Corneliani partners
OLS Luxury for India business
Corneliani has chosen to partner with OLS
Luxury, the luxury division of the Orissa
Stevedores group, owned by the Mishra
family. The company is also reported to be
22 COLOUR CHRONICLE__JUNE 2013