Fossil Group, a global design, marketing and innovation company specialising in lifestyle accessories, has reported 16 per cent sales decline to $391 million in first quarter (Q1) FY20 ended on April 4, 2020 compared to sales of $465 million in same period last year. Company reported operating loss of $134.3 million (Q1 FY19: $19.9 million).Gross profit for the quarter were $140.4 million ($248.0 million). Net loss during Q1 FY20 were $85.6 million ($12.2 million).The company’s New World Fossil

The ongoing life-threatening coronavirus has already caused massive loss of life and economic damage throughout the globe, and Bangladesh has no exception with over 112,306 confirmed cases and over 1,464 deaths. Needless to say that, in the time of the pandemic, the private sector has been severely impacted.Figure 1: COVID-19 opened up the grim picture of the global apparel fashion industry.Coronavirus has brought unprecedented disaster to Bangladesh’s readymade garment (RMG) industry. This blow

Flagship shopping centres in the United Kingdom will take a long time to attract the same number of consumers back with many shunning the locations to avoid potentially crowded areas and unnecessary travel, according to data analytics company GlobalData. Despite landlords implementing measures to reassure shoppers, footfall is unlikely to return to pre-COVID levels before the end of the year.Pic: Shutterstock“...Many shoppers will feel that closed, restricted, or open but potentially unsafe amen

Peake Screen Printing from North Alabama is making customized masks in the COVID-19 pandemic. The company makes game-day gear for many SEC universities and local schools. When the coronavirus put a pause on sports, Peake Screen Printing was left to find new ways of keeping up business.Figure: Peake Screen Printing from North Alabama is making customized masks in the COVID-19 pandemic.“A lot of what we do is athletic printing, and sporting goods just shut down, but masks became the new thing,” sa

SAN FRANCISCO - Sustainable footwear brand Allbirds has launched a limited-edition collection of 'sustainable' underwear for men and women.The new underwear collection features a boxer brief for men and a thong, brief, shortie and bralette for women made with the brand's propriety yarn Trino.The material, a blend of responsibly sourced eucalyptus tree fibres, ZQ-certified Merino wool and elastane, was first introduced by the brand in its socks last year.Source:Eco Textile

Foreign investor interest inis still strong despite a fall in the volume of garment exports in fiscal 2019-20, according to the government. Of the 178 foreign enterprises endorsed by the Myanmar Investment Commission (MIC) and permitted to invest in Myanmar between October 1 last year and May 31 this year, more than three quarters channelled capital into the manufacturing sector, according to the Directorate of Investment and Company Administration (DICA).Pic: ShutterstockThe new investors inclu

BANBURY - UK waste recycling charity WRAP is relaunching its £1.5 million (US$1.9m) textile recycling grant scheme to make funding more accessible because of the coronavirus pandemic.WASTE has streamlined the application process so that funds can be allocated more quickly for innovative projects that are designed to keep textiles out of landfill.Beneficiaries will also no longer be required to put up match funding - originally set at 10 per cent for not-for-profit and 50 per cent for commercial

German e-commerce portal Zalando is extending its ‘Connected Retail’ programme to include Sweden, Poland and Spain.Image Courtesy: businessoffashion.comUnder Connected Retail, Zalando had put forth a special offer to waive commission fees and shorten payout circles to weekly for new and existing Connected Retail Partners since 1 April.Carsten Keller, VP of Direct-to-Consumer at Zalando said, “The crisis is not over and retailers continue to see its effects: consumers are slowly returning to the

LONDON - An ambitious vision for man-made cellulosic fibres (MMCF), such as viscose, modal and lyocell, to create a more sustainable textile industry has been outlined in a new report from two international sustainability non-profits - Forum for the Future and Textile Exchange.Entitled 'MMCF 30: Envisioning the Future of Man-Made Cellulosic Fibres', it says these fibres have "huge untapped potential" for building resilience in the global textile industry.The report points out t

Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (), in a proposed budget reaction expressed frustration as their demands for reducing corporate tax, source tax and providing cash incentive have not been addressed in the proposed budget for fiscal year 2020-21.urged the government to provide equal budgetary facilities as proposed for the readymade garment (RMG) sector.Figure: BGAPMEA -urged for equal facilities proposed for RMG sector .According to BGAPMEA, A