Global apparel markets: business update, February 2023
This report provides information, analysis and valuable insight into developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; business news; environmental sustainability; joint ventures, cooperation, licensing and distribution; market forecasts; and textile recycling facilities. Brands, companies, other organisations and initiatives featured in this report include: Authentic Brands Group (ABG), BlockTexx, the Circular and Sustainable Textiles and Clothing (CISUTAC) consortium, Euratex, Horizon Europe, Qore, Ted Baker, The Lycra Company, and Worn Again Technologies.
- SUMMARY
- ACQUISITIONS, DIVESTMENTS AND MERGERS Authentic Brands Group (ABG) has acquired fashion apparel and accessories brand Ted Baker
- BUSINESS NEWS
- European textile trade bodies are calling for a substantial cap on the price of gas to save the European textile industry
- ENVIRONMENTAL SUSTAINABILITY
- Horizon Europe is funding a project called CISUTAC which aims to support the European textile and apparel industries in transitioning to a circular economy
- JOINT VENTURES, COOPERATION, LICENSING AND DISTRIBUTION
- The Lycra Company has entered into a partnership agreement with Qore to produce Lycra fibre made using bio-based materials
- MARKET FORECASTS
- Consumer expenditure on clothing and footwear in Europe is forecast to grow by an average of 5.3% per annum between 2022 and 2026
- TEXTILE RECYCLING FACILITIES
- BlockTexx has opened a textile recycling facility in Queensland, Australia, which is capable of recycling fabrics comprising blends of cotton and polyester
- Worn Again Technologies has secured £27.6 mn worth of investment to construct a textile recycling facility in Winterthur, Switzerland
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