Industry News | 12/7/22
SPESA SPEAKS | Your BTS Wrapped 2022
By SPESA | December 7, 2022
Happy December everyone! Let’s see what you’ve been reading all year. Check out the top 10 most read original Behind the Seams articles from 2022. Unsurprisingly for a show year, there was a lot of Texprocess Americas content. But there was also a lot of interest in the Ukraine war, nearshoring, supply chains, and you, our members and readers.
SPESA Annual Business Meeting & Holiday Happy Hour (Virtual)
By SPESA | December 7, 2022
SPESA will host its annual Business Meeting virtually (via Zoom) on Wednesday, December 14th, at 4:30 p.m. ET, followed by a holiday happy hour & trivia night for all of our members and anyone else who would like to learn more about SPESA. During the Business Meeting, attendees will hear a brief update on SPESA's membership and activities over the past year, as well as plans for the future, including the Texprocess Americas show in 2023 and beyond.
U.S. Trade Deficit Widens on Greater Imports, Drop in Exports
By Bloomberg | December 6, 2022
The US trade deficit widened for a second month in October, as the value of imports increased and exports declined, which may weigh on economic growth in the fourth quarter. The trade gap in goods and services grew by $4 billion, or 5.4%, to $78.2 billion from a month earlier, Commerce Department data showed Tuesday. The figures aren’t adjusted for inflation.
VF CEO Steps Down | Steve Rendle’s 6 Years as VF CEO Marked By Supreme Deal, Job Cuts
By Sourcing Journal | December 5, 2022
VF Corporation on Monday announced that Benno Dorer, lead independent director of the VF board of directors, has been named interim president and chief executive officer, effective immediately, in response to CEO Steve Rendle’s decision to step down. Richard Carucci, a director on the board since 2009, will serve as interim chairman of the board.
Biden Signs Law Bringing Rail Strike Saga to an End
By POLITICO | December 2, 2022
President Joe Biden recently signed legislation to bring to a close any threat of a rail strike by enshrining into statute a contract between labor unions and the freight rail industry. That closes out months of chaotic negotiations that brought the nation to the brink of a rail shutdown that could have decimated the economy.
SPESA MEMBER SPOTLIGHT | How to Build Better Supplier Relationships While Boosting Efficiency
Press Release | November 29, 2022
If there’s one positive that came out of the pandemic, it’s that many companies recognized the value of trusted supplier relationships and took steps to improve them. To restore trust after buyer-supplier relationships hit a low point in 2020, many companies implemented visibility tools to build more transparent systems and proactively optimize inventories and better manage demand.
U.S. Factory Orders Beat Expectations in October
By Reuters | December 6, 2022
New orders for U.S.-manufactured goods increased more than expected in October amid strong gains in demand for machinery and a range of other goods, which could allay concerns of a sharp slowdown in manufacturing. The Commerce Department said on Monday that factory orders jumped 1.0% after rising 0.3% in September.
The World’s Fragile State and What It Means for Fashion
By Business of Fashion | December 5, 2022
By the end of the year, few economies were spared from the effects of escalations in everything from inflation to global supply chain meltdowns to heightened geopolitical tensions, all amid a worsening climate crisis that has contributed to unprecedented environmental events, from droughts to floods to heat waves. None of this looks likely to disappear entirely in 2023.
U.S. Manufacturing Orders from China Down 40% in Unrelenting Demand Collapse
By CNBC | December 4, 2022
U.S. logistic managers are bracing for delays in the delivery of goods from China in early January as a result of canceled sailings of container ships and rollovers of exports by ocean carriers. U.S. manufacturing orders in China are down 40 percent, according to the latest CNBC Supply Chain Heat Map data.
SPESA MEMBER SPOTLIGHT \ YKK Reports 18.2% Decrease in GHG Emissions
Press Release | November 30, 2022
YKK Corporation has released "This is YKK 2022", the company's annual integrated report on medium-term management strategies, value creation aimed at long-term sustainable growth, and sustainability initiatives for YKK's fastening business. The report also includes the company's progress during fiscal year 2021 under the five themes of the YKK Sustainability Vision 2050.
Apparel Bucks First Production Falloff Since May 2020
By Sourcing Journal | December 2, 2022
Economic activity in the U.S. manufacturing sector contracted in November for the first time since May 2020, after 29 consecutive months of growth, the nation’s supply executives said in the latest Manufacturing Institute of Supply Management (ISM) “Report On Business.”
Hiring Gen Z: How Manufacturing Companies Need to Pivot to Attract Young Workers
By Manufacturing Dive | December 1, 2022
With an aging workforce and hundreds of thousands of jobs to fill, manufacturers must highlight the career path available to the next generation of employees. As manufacturers review their recruitment strategies for the new year, many of them are brainstorming around the same issue: how to attract young talent.
SPESA MEMBER SPOTLIGHT \ INDA Names MaryJo Lilly Market Intelligence Leader
Press Release | November 30, 2022
INDA has named MaryJo Lilly as its new Market Intelligence Leader. Lilly brings more than 20 years of nonwovens & engineered materials expertise with a strong background in the disposable, medical and specialty materials industries.
Under Armour Will Invest $1 Million in Textile Research at NC State University
By The Baltimore Sun | December 1, 2022
Under Armour plans to invest $1 million in a textile research center at North Carolina State University through a partnership announced Thursday. The sports brand has opened an “innovation center” on the university’s Centennial Campus in Raleigh to develop new textiles and materials for sports apparel, footwear and accessories.
What Does the World Cup Have to Do With Garment Workers? Plenty.
By Sourcing Journal | November 30, 2022
What is happening—in Qatar and in garment-producing countries—is the devaluation of human lives into “cheap” units of labor. It’s for this reason that the #PayYourWorkers campaign has been calling on brands like Adidas to sign a binding agreement on wages, severance pay and the freedom to organize.
Fashion’s New Age of Volatility Hits Suppliers
By Business of Fashion | November 23, 2022
A post-Covid boom in demand has been dragged down by inflationary pressures worsened by the war in Ukraine, dampening consumer demand and squeezing economies in manufacturing hubs, amplifying a range of socio-political and environmental challenges that are creating their own ripples of disruption in turn.
SPESA MEMBER SPOTLIGHT \ Clothing Tech Elevates the Journey from 2D Concepts to 3D Fashion Creations
Press Release | November 22, 2022
This fall marked the release of Clothing Tech’s groundbreaking 3D CAD tool—the Garment Digital Twin™ (GDT), which Wilcox describes as “just the beginning.” Representing the first 3D CAD tool created specifically for the fashion industry, this unique solution is designed to automatically read existing patterns and tech packs then convert them into a 3D design.
Over 300 Delegates Attend 37th IAF World Fashion Convention in Dhaka
By Fibre2Fashion | November 22, 2022
IAF recently concluded 37th World Fashion Convention in Dhaka brought together close to 300 delegates from 15 countries. United by the convention’s theme of ‘Transforming the Industry Together’, speakers discussed methods of supply chain collaboration, climate action and financing, EU sustainability legislation, education and technology and raw material trends.
ITMA 2023 Launches Online Visitor Registration
Press Release | November 30, 2022
The ITMA 2023 online visitor registration platform is open for registration. Visitors can enjoy early bird rates until 7 May 2023 when they buy badges online. Visitors can register for ITMA conferences and forums, and request an invitation letter when ordering their badge if they require a visa to enter Italy.