INSIGHTSThe UKFT Futures platform is open to a wide range of users, including new entrants, career changers, career advisors, and educators.This shows that the platform is designed to help anyone who is interested in exploring career opportunities in the fashion and textile industry.It has been developed with the support from the Textile Livery Group.UKFT has announced the launch of UKFT Futures, a brand-new platform promoting careers in the UK fashion and textile industry. Developed with the ge

Fashion companies that adapt to shifts in the industry’s merchandising model can create a competitive advantage, according to McKinsey, which recently said in an insight note that given the current economic environment and unprecedented uncertainty, the need to get merchandising right is even more urgent than usual.For that reason, many companies are seeking out new approaches to turn more efficient, and many are adding cutting-edge digital tools to their armories, the note said.About 97 per cen

Exports of textiles and apparel from the United States went up by 4.05 per cent in January 2023. The value of exports stood at $1.895 billion during the period under review compared to $1.821 billion in the same period of last year, according to the data from the Office of Textiles and Apparel (OTEXA), US department of commerce.Category-wise, apparel exports increased by 14.97 per cent year-on-year to $575.443 million, while the exports of yarn ($340.260 million) and fabric ($683.212 million) in

The year 2022 has been challenging for global fashion—COVID-19 hangover, prolonged Ukraine war, escalating raw material and fuel prices, interrupted supply chains and fluctuating exchange rates. The global fashion companies nevertheless continued to function with these challenges-in-tow, and reported their January-December 2022 performance by February 2023, forming the basis of this evaluation feature.The results of fashion retail companies are segregated as strong, moderate and weak based on th

Despite the challenges of her raw material costs, bigger fuel and shipping costs, increasing inflation, the war in Ukraine, and a cost-of-living crisis that is having a negative effect on consumer spending – the global state of fashion in 2023 will witness relative growth.Figure 1: The global state of fashion in 2023 will witness relative growth. Courtesy: Collected.A recently published report by McKinsey’s ‘The State of Fashion 2023: Holding onto growth as global clouds gather,’ stated that the

In the next six months, global consumers are planning to reduce their spending in luxury or premium products across a variety of retail categories, including fashion, which is forecast to see a 41 per cent decrease in spending, according to the 2023 PwC Global Consumer Insights Pulse Survey. However, there still remains an appetite for future spend, with 40 per cent consumers indicating they will look to treat oneself or others.As the cost of living crisis continues to rise globally, consumers h

China’s personal luxury sales contracted 10 per cent year-over-year (YoY) in 2022, as per a new report from Bain & Company. The country's five-year run of steady growth came to an end due to the impact of COVID-19 lockdowns and declining consumer sentiment. However, positive conditions are expected to return before the end of the first quarter of 2023.Online penetration played a significant role in how different luxury categories were impacted. Jewellery and leather goods sales showed th

American sportswear brand Nike and luxury jeweller Tiffany & Co have come together to introduce a pair of limited edition shoes—the Tiffany Nike sneakers. Crafted in black leather and featuring sterling silver adornments at the heels, the new Nike Air Force 1 (AF1) Low sneakers will sport Nike’s signature swoosh logo in Tiffany blue—set to be released on March 7, 2023.The Tiffany Nike sneakers will come in a Tiffany & Co box and dust bag as shown in an Instagram post by Nike. The public

Prasenjit Tito Chowdhury shared his 10 forecasts regarding fashion industry in 2023.2023 will be a Fashion Bonanza: Recession and inflation concerns will dampen net growth potential. However, 2023 being the first full year post-pandemic consumers, not just luxury clientele who already have been into enhanced shopping last year, will be celebrating life in every aspect, fashion shopping, experimenting with new trends, going out dressed up more, etc. If the economy dampens too much, it will impact

Hybrid shopping has become a conscious choice of fashion consumers after the lifting of COVID-19 restrictions, according to an 18-month, four-stage survey in the US, the UK, and Germany by Boston-based firm EPAM Continuum. The survey also revealed that consumers aspired to buy sustainable fashion products, but affordability was still the preference.Many shoppers said they were increasingly conscious of brands’ claims around sustainability and said they would often look for more sustainable optio