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H&M and YCloset team up to test

renting COS clothing in China
Cotton trading increases in Pakistani That’s how much of the world’s greenhouse gas emissions the clothing industry is responsible for - it uses more

markets inline with global trends H&M’s brand COS and YCloset, China’s leading and their move into rental clothing marks an impor-
energy than the shipping and aviation industries, according to the United Nations.
Inspiring Change 2020
clothing rental business have teamed up for a tant shift in public purchasing decisions. In 2018,
The cotton trading in Pakistani markets picked up in stock and dealers expect an increase in sales in the three-month trial in an attempt to foray into the rentals generated $1 billion in revenue, reported
Sustainability, Inspirations,
mid-December as the news of the US-China trade coming days. A price increase of cotton is also country’s growing clothing rental business as more Bloomberg.
deal made investors optimistic about a pick-up in expected in the local market as the business picks and more consumers become aware of the environ-
trade inline with the global markets, where trading up pace. mental impact of fast fashion. “It is important for us to try new approaches - testing
also picked up and an increase in future price of and collaborating to achieve the best outcome for
Influences, Opportunities!
cotton is also expected. High demand for quality cotton was seen in the YCloset is China’s largest clothing rental platform our customer and community - as well as the future
market, however, many buyers settled for lower with 15 million users who pay monthly subscription of our business,” COS managing director Marie
After the successful conclusion of the US-China grade cotton to restock at lower prices and to fees and have the option to buy the clothes after they Honda said in a statement.
trade negotiations and news of a cease fire by both replenish before a price increase. Prices in New York have rented them.
The U.S. was responsible for 21 million pounds of
sides in the trade war, world markets showed a cotton also increased in the range of US 0.61 to 1.29 As consumers become more aware and interested about a new project funded by the German govern-
discarded clothing in 2015, according to the Environ-
positive trend and local markets also showed cents per lb. However, Indian and Chinese cotton H&M, the world’s second-largest fashion group, also ment - “Sustainable Pakistan.” This project aims to
in protecting the environment, the textile industry
mental Protection Agency. This number has risen
renewed optimism in trade and acceleration markets were mixed to easy. launched its own rental business on November 29 promote the Pakistani garment and fashion indus-
(with the stigma of being the most polluting indus-
from 4.6 billion pounds in 1980.
expected in the near future. The cotton in Pakistan through its Stockholm flagship store in another try globally.
try on the planet) is facing the pressure of taking
markets changed hands quickly and it is expected International market also showed an up-tick in trade three-month trial. This rental service is however, has a
concrete steps towards sustainability and promot-
Reusing clothing contributes to sustainability: A
to pick-up further. Local buyers were quick to claim of cotton because of the US-China trade deal. limited range of festive gowns, with a fee per item. The previous editions of the Inspiring Change
ing eco-labels. The Pakistani textile industry is
research by British advisory group Waste and
leading the charge into a greener tomorrow with
Resources Action Program concluded that extending
Popular fast fashion retailers like H&M, Banana Conference were immensely successful and not
more and more attention being given to the
Republic, and Urban Outfitters are all entering the only raise awareness about the importance of
the life of one clothing item by three months contrib-
inclusion of sustainable processes in the textile
clothing rental industry. Fast fashion retailers are concerted cooperation and regular interactions
utes to a 10% reduction in its carbon, water, and
production and supply chains. Sustainability in
projected to generate $44 billion in sales by 2028, among the various branches of the textile industry,
waste footprints.
textiles can result in more stable performance, but also facilitated this interaction as well as
New trade policy to focus on
efficient management system, increased pro¬fit
provided a platform for building confidence and
Textile exports rise in EU but margins, and decreased cost of production while effective communication among all textile stake-
holders.
simultaneously improvising the labour-industry
“efficiency-driven” economys
production falls relationship, reduction in environmental concerns Cutting-edge research and development is also an
and a stronger, healthier work force.
important part of the conference. These innovations
The upcoming Inspiring Change conference will have paved the way for exciting new fibres and
have special focus on sustainability and will feature
The World Textile and Apparel Trade and there was a rise in EU consumer expenditure on The much-awaited new Strategic Trade Policy yarns that expand beyond conventional, natural
Razak Dawood has sought the services of individuals
not only presentations, but also lectures and
Production Trends: The EU, 2019 has found that clothing and footwear. Framework (STFP) 2019-24 has started to take shape and organic ones. This has resulted in innovative
“who have direct links with trade matters”.
solutions the industry can take towards a better
during 2018, textile and clothing exports from EU as the Ministry of Commerce began brainstorming to products for the lifestyle, sports, medical, transpor-
The vision, mission and goals of the STPF 2019-24
future for the planet.
to countries outside the union rose in value and The report contains statistical data, information, formulate the policy starting with the first meeting for tation and other sectors, thus ensuring continuous
are to transform Pakistan from a factor driven to
volume but the textile production fell following and insight into the textile and apparel industries the purpose between different government business growth.
efficiency-driven economy integrated into the global
‘Sustainable Pakistan’
two years of growth. in the EU. The report identifies important trends functionaries. and regional value in the medium term and an
innovation-driven economy in the long-term.
and includes information on general economic The Inspiring Change Conference will present The conference will be held in the vibrant city of
concept changing presentations and information
The report said that clothing production in the trends, textile, and clothing production in the EU, The first meeting for the STFP was held on December Lahore on the October 18, 2020.
EU declined for the second consecutive year to the textile and clothing trade balance, imports by 12, 2019 between the Commerce Advisor, The Commerce Division has envisaged the following
its lowest level in several years. Meanwhile, the supplying country, exports by the destination Commerce Secretary, Additional Secretary, former goals for the STPF 2019-24; (i) increase exports at a
imports of textiles and clothing into the EU country, and imports and exports by EU member Secretary Commerce, Younus Dagha, former Chief minimum compound annual growth rate of 12 per
increased in value and volume, showing that state. Executive Officer, the erstwhile Export Promotion cent annually till 2024;(ii) improve competitive and
Bureau (EPB) now TDAP, and officials of Commerce efficiency of the industry, especially export sector ;(iii)
increasing the share of regional trade in the total
Ministry and National Tariff Commission (NTC). trade by 20 per cent and ;(iv) promote sustainable,
Additionally, Prime Minister's Advisor on Commerce, socially-compliant, inclusive and gender-sensitive
Industries and Production and Investment, Abdul
export development.
July/August 2020
November/December 2019 November/December 2019