Apparel Views’ Post

The Vietnam Textile and Apparel Association (VITAS) reported that the sector’s export revenue in August was estimated at nearly US$4.3 billion, raising the value in the first eight months of this year to US$28.3 billion, up 6.2% year-on-year. Vietnam Textile & Apparel Association (VITAS) Nguyen Hoang Hai #VietnamTextiles #ApparelIndustry #ExportGrowth #VITAS #VietnamGarment #GlobalTrade #SmartManufacturing #GreenProduction #DigitalTransformation #SustainableFashion #ESGStandards #VietnamEconomy #TextileInnovation #SupplyChainOptimization https://lnkd.in/gPM99ZRT

In H1 2024, Vietnam's textile and garment exports increased by 4.6 per cent to $16.522 billion, with June exports rising 14.4 per cent month-on-month. Yarn exports grew 4.5 per cent to $2.161 billion, though June saw a month-on-month decline. The US was the largest market, accounting for 43.63 per cent of textile exports. Cotton and yarn imports also surged. #Fibre2Fashion #f2f #apparel #textile #fashion #textileindustry #f2fnews Read more here: https://lnkd.in/gvhCzYG5

RMG export in April 2024 was US$ 3.29 bn with decreased by 1.01% growth of FY 2023-24 The Export Promotion Bureau (EPB) has released the apparel export statistics for the period of July-April FY-2023-24. During the mentioned period, our RMG export grew by 4.97% year-over-year basis to US$ 40.49 billion from US$ 38.58 billion during the same period of the fiscal year 2022-23. The export of knitwear was US$ 22.88 billion, growth increased 9.11% and woven garments were US$ 17.62 billion, growth increased by 0.03%. The single-month apparel export earnings that indicate export in April 2024 was US$ 3.29 billion with decreased by 1.01% growth compared to April 2023. Informed by – Mohiuddin Rubel, Director, BGMEA, Additional Managing Director, Denim Expert Ltd. © Textile Focus #RMGExports #ApparelIndustry #BangladeshRMG #SustainableFashion #TextileExports #GlobalTrade #EconomicGrowth #FashionBusiness #TradeStatistics #ExportPromotion

While I appreciate the vision and optimism shared, it’s crucial to outline a concrete roadmap to transform our current $15-16 billion business into a $44 billion powerhouse. Here are some key considerations and steps we need to take: 1. Strategic Investments Where are the significant new investments? To achieve this ambitious goal, we need substantial and targeted investments across various sectors. This includes: Technology and Innovation:Investing in cutting-edge technologies and fostering innovation to stay ahead of the curve. Infrastructure Development:Upgrading and expanding our infrastructure to support the growing demands. Research and Development:Prioritizing R&D to develop new products and improve existing ones. 2. Public-Private Partnerships Collaboration between stakeholders and the government is essential. This involves: Incentives and Subsidies:Government policies that provide incentives and subsidies to encourage private sector investments. Regulatory Support:Streamlining regulations to make it easier for businesses to expand and innovate. Joint Ventures:Forming strategic partnerships between public and private entities to leverage strengths and resources. 3. Market Expansion We need a clear strategy for expanding into new markets. This involves: International Trade Agreements:Negotiating favorable trade agreements to open new markets. Market Research:Conducting thorough market research to identify and capitalize on emerging opportunities. Localized Strategies:Developing localized strategies to cater to the specific needs and preferences of different markets. 4. Workforce Development Investing in our human capital is crucial. This includes: Education and Training:Enhancing education and training programs to ensure our workforce is equipped with the necessary skills. Talent Acquisition:Attracting top talent from around the world to bring fresh perspectives and expertise. Employee Engagement: Fostering a culture of innovation and engagement within our workforce. 5. Sustainability Initiatives Sustainability is not just a buzzword; it’s a necessity. Our growth must be sustainable and environmentally responsible. This involves: Green Technologies:Investing in green technologies and sustainable practices. Corporate Social Responsibility: Enhancing our CSR initiatives to give back to the community and environment. Long-term Planning:Ensuring that our growth strategies align with global sustainability goals. Conclusion While imagination and positivity are essential, they must be backed by tangible actions and investments. We need a clear and actionable roadmap, supported by substantial investments, strategic partnerships, and a commitment to sustainable and inclusive growth. Only through these efforts can we achieve the ambitious goal of transforming our business into a $44 billion enterprise. But sorry say, lots of missing here from both the sides. And we must learn from Bangladesh here Abhishek Yugal

Vietnam's textile and garment exports (excluding yarn and fibre) increased by 8.9 per cent YoY, reaching $27.34 billion from January to September, while yarn exports rose slightly by 0.1 per cent. The US remained the largest market for garments, and China led in yarn imports. Vietnam's cotton imports grew by 2.3 per cent. Despite growth, the sector's 2024 export target was lowered to $44 billion. #Fibre2Fashion #f2f #apparel #textile #fashion #textileindustry #f2fnews Read more here: https://lnkd.in/d2ns_ijR

RMG Export in October -$3.30 bn, with 22.8% The country’s export earnings in October saw a robust growth of 20.60% catching $4.13 billion, up by $0.71 billion compared to $3.42 billion in the same month in 2023. According to data released by the Export Promotion Bureau (EPB), in July-October exports grew by 10.8% to reach $15.79 billion, up by $1.54 from $14.25 billion in the same period in 2023. Apparel sector accounted for $12.81 billion of the exports. In October, the readymade garment (RMG) sector, the country’s highest export earner, and generated $3.30 billion, with 22.8% increase from $2.68 billion in the equivalent period of FY24. Of the $3.30 billion, knitwear contributed $1.86 billion, a 24.6% increase from $1.50 billion, while woven garments earned $1.44 billion, reflecting a 20.54% increase from $1.20 billion compared to the October of the last fiscal year. Among other notable sectors, agriculture products experienced positive growth of 7%, reaching $113.1 million, up from $105.8 million in October FY24. Leather and leather goods witnessed a slight decline of 1%, totaling $83.2 million, while the earnings were $84 million in October 2023. #Apparel #Warptex #warptexbd #sourcing #clothing #Manufacturer #Exporter #statistics #exports #fashion #industry #manufacturing #Bangladeshgarment #garment #apparelindustry #fashionapparel #hometextiles #TextilesMarket #GarmentFactory

Vietnam's textile industry is booming, with exports reaching US $ 36.11 billion in the first 10 months of the year. As the holiday season approaches, garment makers are gearing up for increased demand from key markets like the US and Europe. Vietnam aims to hit a record US $ 44 billion in exports this year. To read more, click here👉🏻 https://lnkd.in/gmR_RMYx #ApparelResources #TextileIndustry #VietnamExports #FashionManufacturing #GlobalMarkets #Vietnam #Exports #GarmentExporters #ApparelExporters

In the 11th month of the current fiscal year (July-May), apparel exports were worth $43.85 bn, which is 2.86 percent higher than the same period of the previous fiscal year 2022-23. This information is known from a report of the Export Promotion Bureau (EPB) published recently. Brand BGMEA #Bangladesh #apparelexport #exportgrowth #BGMEA https://lnkd.in/gxJe7mfY

Insights from my interaction with the chief of the Uzbekistan Textile and Garment Industry Association! The chairman of Uztextilprom highlights how the country is fast becoming the preferred sourcing destination for global fashion brands and retailers. With its fully compliant industry, strategic location, and tariff-free access to several markets, Uzbekistan is poised for significant growth so it seems. #Uzbekistan #Uztextilprom #Sourcing #TextileIndustry

Bangladesh's Q1 FY25 exports up 5.04% YoY; garment exports up 5.34% Bangladesh’s export earnings saw a 6.78-per cent ($220-million) year-on-year (YoY) growth in September this year to $3.51 billion, according to the Export Promotion Bureau (EPB). EPB data showed that in the first quarter (July-September) of fiscal 2024-25, the country’s export earnings grew by 5.04 per cent ($10.82 billion) YoY to reach $11.37 billion. Readymade garments (RMG) ruled the overseas market during this quarter, bagging $9.29 billion—a 5.34 per cent YoY growth, domestic media outlets reported. Out of that, export of knitwear was worth $ 5.22 billion—a rise of 5.72 per cent YoY, while that of woven garments in Q1 FY25 was worth $4.07 billion—an increase of 4.85 per cent YoY. #Apparel #Warptex #warptexbd #sourcing #clothing #Manufacturer #Exporter #statistics #exports #fashion #industry #manufacturing #Bangladeshgarment #garment #apparelindustry #fashionapparel #hometextiles #TextilesMarket #GarmentFactory