Global apparel markets: business update, June 2022
This report provides information, analysis and valuable insight into developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; circularity; corporate social responsibility (CSR); environmental sustainability; investments; market forecasts; new facilities; and recycling. Brands, companies, other organisations and initiatives featured in this report include: Asos, Carbios, Cone Denim, Fashion for Good, Fast Retailing, FibreTrace, Frontier Yarns, Gildan Activewear, H&M Group, HeiQ, Inditex, Levi Strass & Co, Mango, Messe Frankfurt, MycoWorks, Oritain, Saitex, Stony Creek Colors, The Biomimicry Institute, The European Commission, and VF Corporation.
- SUMMARY
- ACQUISITIONS, DIVESTMENTS AND MERGERS
- Gildan Activewear has acquired Frontier Yarns for US$168 mn
- CIRCULARITY
- H&M Group has launched a circular design tool as part of its aim to manufacture only circular products by 2025
- The European Commission has published the EU Strategy for Sustainable and Circular Textiles
- CORPORATE SOCIAL RESPONSIBILITY (CSR)
- Cone Denim has extended its partnership agreement with Oritain in order to support the Uyghur Forced Labor Prevention Act (UFLPA)
- Global apparel brands have taken action against Russia in response to the military invasion of Ukraine
- ENVIRONMENTAL SUSTAINABILITY
- Fashion for Good has launched a pilot operation called D(R)YE Factory of the Future which aims to reduce the amount of wet processing carried out in the textile industry
- Fashion for Good has launched a pilot operation called Untapped Agricultural Waste Project which will assess the feasibility of using agricultural waste in the manufacture of fibres
- Levi Strauss & Co has collaborated with Stony Creek Colors in the launch of a pilot operation relating to plant-based dyes
- Traceable pigments produced by FibreTrace have been certified as being compliant with the Global Organic Textile Standard (GOTS)
- INVESTMENTS
- Carbios has secured Euro30 mn (US$34 mn) worth of investment to scale up its C-Zyme technology
- HeiQ has received significant investment for the development of its HeiQ AeoniQ yarn
- MycoWorks has secured US$125 mn worth of investment for the construction of a full-scale production facility
- The Biomimicry Institute has secured Euro2.5 mn (US$2.9 mn) worth of investment to launch a pilot project relating to the decomposition of textile waste
- MARKET FORECASTS
- Consumer expenditure on clothing and footwear in Africa and the Middle East is forecast to grow by 5.3% per annum between 2020 and 2025
- Consumer expenditure on clothing and footwear in Asia and Oceania is forecast to grow by 4.5% per annum between 2021 and 2026
- NEW FACILITIES
- Saitex has opened a fabric manufacturing facility in Vietnam
- RECYCLING
- Fashion for Good has established a pilot operation to scale up technologies for chemically recycling polyester
- VF Corporation has joined a consortium to launch a pilot operation relating to the recycling of blended textile waste in Cambodia
- List of tables
- Table 1: Africa and the Middle East: consumer expenditure on clothing and footwear, selected markets, 2016-25
- Table 2: Asia and Oceania: consumer expenditure on clothing and footwear, selected markets, 2018-26
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