Top Textile & Fashion News of the Week | 25th to 31st October 2019

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1. Authentic Brands Group to Acquire Barneys New York
NYC based Authentic Brands Group (ABG) recently announced that it has emerged as the successful bidder to purchase the intellectual property of Barneys New York. Through this acquisition, ABG will enhance its luxury footprint and further establish its position as a leader in contemporary fashion.

2. Price sensitivity falling across retail categories: study
A study by US firm First Insight found elasticity and price sensitivity are falling in every category, including apparel for women, men and kids, and home goods, compared to its 2017 study.
It unveils many opportunities for retailers to leverage through higher pricing.

3. Growth of silk biopolymers linked to sustainable textiles
Kraig Biocraft Laboratories has announced that operations at its Vietnamese production facility are on track to set new production capacity records for the company. The company is a fully reporting biotechnology company focused on the commercialization of new textiles and high-performance fibres including spider silks.

4. Global cotton woven fabric exports declining since 2013
The global trade of cotton woven fabrics has been declining since 2013 with a considerable CAGR. The global trade of cotton woven fabrics was $26.93 billion in 2016 and dropped to $26.60 billion in 2018 declining by 1.23%, according to Fibre2Fashion’s market analysis tool TexPro.

5. Cone Denim to offer the revolutionary CiCLO technology
Cone Denim, a global leader in denim authenticity and sustainable innovation based in the US, has announced its collaboration with Intrinsic Advanced Materials as the first denim mill to offer the revolutionary CiCLO technology. Cone Denim is also introducing its newest denim capsule collection of CiCLO Stretch Denim, the latest in sustainable solutions.

6. Sharp rise in artificial yarn exports from China
The global trade of artificial yarn has been growing with a high CAGR since 2013 except for the drop in 2015. In terms of value, the global artificial yarn export was $493.90 million in 2016 and reached $588.39 million in 2018 with a growth rate of 19.23%, according to Fibre2Fashion’s market analysis tool TexPro.

7. Macy’s commits to stop selling fur by 2020
Macy’s has announced that it will stop selling fur by the end of fiscal 2020. This includes all Macy’s and Bloomingdale’s private brands, as well as items sold from brand partners. Fur will no longer be sold in Macy’s off-price stores, including Macy’s Backstage and Bloomingdale’s Outlet.

8. Egypt to host 1st pan-African leather fair in June 2020
Exhibition organizer “Informa Markets and Cairo for Investment and Development” recently announced the launch of the first edition of the Pan African Leather Fair in Cairo from June 21 to 23 next year. It will be backed by the Egyptian Export Council for Leather, Footwear and Leather Products and the African Leather & Leather Products Institute (ALLPI).

9. Synthetic, rayon 16.5% of India’s textile-apparel exports
Synthetic and rayon textiles exports from India are worth $6.15 billion—around 16.5% of the total textile and apparel exports worth $37.5 billion, according to Synthetic & Rayon Textiles Export Promotion Council (SRTEPC). The United States has a lot of potential as a market for man-made fibre (MMF) textiles, it said.

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