Paweł Lewandowski
Romek Gelard Gello
Mc kenneth Licon
Ala Konturek
Marie M
After a fantastic Season 3 in February, Fashion Mavericks is back with another dose of fresh talent this September during London Fashion Week from Friday 16th – 21st September 2011 and is located at Somerset House, WC2.
September's edition of Fashion Mavericks will once again host a number designers across two days during London Fashion Week.
Showcasing at Fashion Mavericks allows designers to have a presence during one of the most important dates during the fashion calendar, drive brand awareness, create a buzz around their brand, meet industry specialists, use the event as a platform to launch and a perfect opportunity to enlist and work with a PR firm to take advantage of inviting key guests to their very own solo catwalk show tailored to the designers needs.
Season 4 as always will continue with the aim of providing a platform for new and independent designers.
VLOV Inc, which designs, sources and markets VLOV-brand fashion-forward apparel for men aged 18-45 in the People's Republic of China, announced its financial results for the fourth quarter and full year ended December 31, 2010.
Qingqing Wu, Chairman and CEO of VLOV, commented, "The strength of our fourth quarter financial results is attributable to our continuing efforts to offer more upscale products, with an emphasis on higher margin goods. Our Spring sales fair, held in December, met with exceptional response from our distributors, resulting in higher than anticipated orders at the end of the fourth quarter. At the same time, we have maintained a sharp focus on controlling costs, which helped drive operating margins of 23.5%."
"In the third quarter of 2010 we began to outsource 100% of our manufacturing, which allows the Company to focus more resources on design, marketing and advertising. As part of this initiative, our distributors continue to be very supportive by closing counter- and concession-type points of sale and opening stand-alone VLOV stores that more effectively showcase our enhanced, premium brand image. We are confident this strategy will enable the Company to generate improved gross profit and gross margin over the long-term. As of December 31, 2010, our distributors operated 526 POS and 36 stand-alone store locations.
Results for the year ended December 31, 2010 vs. the year ended December 31, 2009
Net Sales (amounts in thousands, in U.S. Dollars, except for percentages)
Net sales were $73,834 for the year ended December 31, 2010 compared with $64,343 for 2009, an increase of $9,491 or 14.75%. We generate revenue primarily from the sales of our apparel to our distributors, who retail them throughout northern, central and southern China. These retail locations, also known as points of sales ("POS"), include counters, concessions, stand-alone stores and store-in-stores.
We design and create samples, which are presented to our distributors at our biannual previews for their selection and purchase based on what they believe will sell most effectively in their POS. Additionally, we set guidelines for our distributors as to how our products are to be advertised and displayed.
We believe that our sales are driven by marketing and advertising as well as by creating fashionable designs. We do not own or operate any VLOV retail locations ourselves; the POS are established and owned by our distributors, each of whom operates its network of POS directly or through third-party retail operators. The increase in our sales was primarily attributable to increased sales in the Shandong, Liaoning, Sichuan and Fujian Provinces, as well as increased advertising.
We have continued to upscale our product offerings to our distributors and have been working with our distributors to sell our products primarily via stand-alone stores and store-in-stores and not through counters and concessions as we believe that stand-alone stores and store-in-stores strengthen our brand image with consumers. In this regard, our distributors have collectively closed more than 200 counters and concessions since March 31, 2010 and have opened 36 stand-alone stores as of December 31, 2010 that reflect our upscale brand image.
During the third quarter of 2010 we began to fully outsource our manufacturing to third parties. Our products are manufactured on our behalf, based on orders for our products that we receive from our distributors, which orders are based on the clothing samples we design and create.
Historically, we outsourced to two types of manufacturers: (1) sub-contractors, which require us to provide them with the raw materials for our products, and (2) O.E.M. manufacturers, which supply their own raw materials. Beginning in 2009, we have shifted our outsourcing entirely to O.E.M. manufacturers.
As we shifted away from sub-contract manufacturing and manufacturing product ourselves entirely to O.E.M. manufacturing in 2010, the components of our cost of sales have correspondingly shifted. Raw material costs accounted for 1.50%, of our total net sales in 2010, compared with 4.72% in 2009. With the shift to O.E.M. manufacturing, O.E.M. finished goods cost, representing our purchase of finished products from the O.E.M. manufacturers, correspondingly increased accounting for 57.37% of our total net sales in 2010, compared with 56.89% in 2009.
Labor cost accounted for 0.38% of our total net sales in 2010, compared with 1.82% in 2009. The decrease was primarily attributable to our increase in outsourcing our manufacturing to third parties.
Overhead and other expenses were 0.16% of our total net sales in 2010, compared with 0.42% for 2009. The decrease was primarily attributable to our increase in outsourcing our manufacturing to third parties.
Total cost of sales for 2010 was $43,863, an increase of 6.77% from $41,080 for 2009. As a percentage of total net sales, our cost of sales decreased to 59.41% of total net sales for 2010, down from 63.85% of total net sales for 2009. Consequently, gross margin as a percentage of total net sales increased to 40.59% for 2010 from 36.15% for 2009. Our gross margin increased due to the increased outsourcing of our manufacturing to third parties as well as focusing production and marketing on higher margin items such as suits, down jackets and leather jackets.
The +J summer collection, created with established fashion designer Ms. Jil Sander, will be launching in selected UNIQLO UK stores on Thursday 31 March. This limited edition collection will be available from 1am online and from 10am at UNIQLO 311 Oxford Street and Westfield London.
Since its initial launch in October 2009, the +J collection has been highly acclaimed throughout the world, gaining global esteem and recognition with each collection and most recently winning the prestigious 2011 Brit Insurance Fashion Award at the 2011 Brit Insurance Design Awards.
'As a collection, +J is still in its infancy. We feel all the more encouraged to be deemed relevant as a project which wishes to make the world a better place'. Ms. Jil Sander, upon receiving the 2011 Brit Insurance Fashion Award.
'We are absolutely delighted to receive the 2011 Brit Insurance Fashion Award for the +J collection. To be up against the likes of some of the most influential and established designers in the industry, and to win, is a great honour. UNIQLO and Ms. Jil Sander has proved to be a unique partnership over the last two years and this award only serves to reaffirm this'. Simon Coble, UNIQLO UK CEO.
The summer 2011 +J collection emphasises the colour blocking trend this season; featuring bold colour contrasts of fiery red and cobalt blue, matched with chalky whites and pillar of stone taupe. Weightless pieces include delicately pleated dresses, form fitting jackets and tailored shorts in techno-taffeta and lightweight cotton twill.
In order to cash in on the strong sales of its "Vortex" spinning machines and to expand the same, Murata Machinery Ltd is launching a permanent outlet for the brand in Shanghai in May 2011. This would be the first ever exclusive "Vortex" outlet across the globe.
More and more companies prefer to install Vortex machines, due to its aptness to spin rayon yarns which are reasonably smooth with great anti-pilling traits.
Several spinners in China and Southeast Asia have already installed Murata machines, while the company is stressing on bringing the advantages of "Vortex" yarn to the notice of apparel producers.
A leading Bangladeshi firm has also installed "Vortex", and owing to the same, there has been a rush in inquiries from the firms from competing as well as other countries like Indonesia, India, Turkey, China and Vietnam which have shown great interest in introducing the machines in their firms.
Moreover, Murata is also hopeful about new inquiries coming in from Pakistan, as a leading Pakistani firm has decided to install the company's machinery.
Hong Kong-based consumer goods sourcing and logistics company Li & Fung has predicted beginning of a new era of rising purchase prices.
The company said that the cost of raw materials as well as labor have increased significantly in China. In this situation, manufacturing enterprises have been left with no other option, but to pass on price rise to customers.
Li & Fung is one of the biggest suppliers to Wal-Mart and GAP in the United States. It is on the supplier list of the Debenhams and other companies in the United Kingdom too. The company registered profit rise of 27 percent in 2010. Its profit in 2010 was HK $4.28 billion (US $550 million).
President Bruce Rockowitz told that though the industry is in dilemma about the price rise, it had really become a foregone conclusion. He added that retailers were not sure what can be passed on to consumers and what can’t be.
Managing Director of Li & Fung Group William Fung said that increased competition in China's labor sector had led to wage increases by about 20 percent this year. Due to rising labor cost, China is on the verge of losing the edge in the world economy, he added.
China's rising labor costs has prompted Li & Fung to shift its production of clothing and other labor-intensive goods to countries like Bangladesh, Vietnam and Indonesia where cheap labor is available.
Due to a series of acquisitions last year, China's share in Li & Fung's total supply increased from 54 percent in 2009 to 57 percent in 2010.
Organized by the Institute of Textiles and Clothing (ITC) of The Hong Kong Polytechnic University (PolyU), the Fourth International Symposium of Intimate Apparel was held on March 29 at the PolyU campus to promote the exchange of the latest knowledge and development of intimate apparel among academics and industrialists. The event was supported by the world's leading lingerie and beachwear trade show organizer Eurovet as well as the Hong Kong Intimate Apparel Industries' Association Ltd.
The theme of this year's Symposium was "Modern Shapewear" and it has brought together some 220 local and overseas lingerie experts to share their insights and experiences. It was kicked off by Professor Tao Xiao-ming, Head and Chair Professor of ITC, and Mr Kenneth Wong, Chairman of Hong Kong Intimate Apparel Industries' Association and Director – Sales & Marketing of Top Form Brassiere Mfg Co. Ltd.
Research and development on glamorous and functional shapewear has become the current focus of the intimate apparel industry. It brings about a reform in intimate apparel with advanced textile technologies and new designs. This symposium discussed the latest technology and development as well as the global market of modern shapewear. It sharpened the industry's competitive edge on product design and innovation in the global market.
Distinguished speakers were invited to share their ideas and experience. Professor Fan Jin-tu, Associate Head of ITC, spoke on "Perception of Beauty"; Mr Hiroshi Imai, President and Representative Director, Wacoal (Shanghai) R&D Co., Ltd., talked about "Body Image and Body Shape"; Ms Michelle Rice, Global Director, Intimate Apparel & Swimwear, Invista (HK) Ltd., spoke on "Global Markets of Shapewear"; and Ms Niki McMorrough, CEO & Creative Director, Made by Niki Lingerie, delivered a talk on "Luxury Shapewear Design".
Established with strong industrial support in 2005, the Ace Style Institute of Intimate Apparel of ITC is the first lingerie institute in the Asia Pacific. Over the years, the Institute's research has reaped fruitful results and gained international reputation. Its graduates from the BA (Hons) programme in Intimate Apparel are well sought after by the industry. Starting from 2008/09 academic year, the programme has been converted to a government-funded articulation programme. This milestone not only signifies the quality of the programme, but also charts a new chapter in the development of local tertiary education in lingerie.
Innovations in shapewear and the application of 3D consumer shape data to swim and sportswear design, development and fit is the key to customer satisfaction, increased sales and diminished returns. This was the advice given to nearly 100 delegates at the ASBCI’s recent swim and sportswear seminar, held in Hinckley Island Hotel, Hinckley, Leicestershire, on March 9th 2011, run in association with Lingerie Buyer magazine.
Ten eminent speakers from the swimwear, sports clothing, shapewear, trend forecasting, textile development and testing sectors took to the podium to share their expertise at the seminar entitled: ‘Look good, feel good, smell good - Industry countdown to 2012’.
Speakers advised that in the run up to the Olympics 2012 the distinction between sports and leisure wear will continue to merge while advances in moisture management, anti-microbial finishes and lightweight laminate structures are revolutionising the design and performance of active sports apparel.
Visual 2000 International Inc. continues its rapid global expansion with the opening of a satellite office in Shanghai, China.
The new facility is currently staffed with software development and quality control teams that will also provide support and localization for the company's End-2-End fashion software solutions in the Asia Pacific region. The company plans to expand the operation to include local sales representation, implementation and training services over the coming months.
"Adding this operation in China will help us sustain our fast growth in Asia and around the globe", stated Vice President of Research and Development Charles Benoualid. "The added resources will ensure our ability to quickly develop new features and options for our solutions and allow us to maintain quick response to growing customer demand for our out-of-the-box solutions and rapid implementation schedules."
Working under the direction of the lead research and development unit in Montreal, the Chinese staff significantly expands the company's bench of Microsoft .NET programmers and provides localization support for the Visual 2000 enterprise resource planning (ERP), product lifecycle management (PLM), business intelligence (BI), and other business software solutions.
"We are pleased with the skill levels and commitment to quality of our new Shanghai team", added Benoualid. "With the guidance and oversight of our existing staff, we believe this office will quickly and positively impact the development of our current and future products."
Visual 2000 International Inc. develops and markets End-2-End software solutions for the Apparel, Footwear and Accessories (AFA) industry; including Visual PLM.net product lifecycle management (PLM), Visual ERP.net enterprise resource planning (ERP), Visual SCM.net supply chain management (SCM), Visual WMS.net warehouse management system (WMS), Visual BI.net business intelligence (BI), Visual EDI.net electronic data interchange (EDI), and Visual SFA.net sales force automation software (SFA) solutions.
The very first Intertextile Shanghai Home Textiles Spring Edition will open for business at INTEX Shanghai and ShanghaiMart next weekend. The new three-day fair held from 2 – 4 April 2011 features 216 suppliers from Austria, China, Korea, Hong Kong, Japan and the USA.
These manufacturers, on more than 25,400 sqm, will present an impressive range of household linens, wall and window decorations, upholstery fabrics, textiles for contract market, interior design and textile handicrafts and accessories, together with other home textile related products and services.
Tailored to meet the requirements of the domestic market, the Haining Home Textile Association and the Yuhang Home Textile Association have organised pavilions that occupy more than half of the exhibition area. In these areas, buyers can find an extensive assortment of decorative fabrics from renowned brands such as Haining Jinbaili, Hangzhou Kelida and Zhejiang Maya Fabric.
Fair participants also have the opportunity to see and source the latest fibrefill technology from Invista and cellulosic fibre technology from Lenzing.
Buyers have the chance to get tomorrow's inspirations from top Japanese design studios. Atelier Mineeda Co Ltd, Cosmo Kumagai and Nix Co Ltd will showcase a remarkable array of home textile concepts at the fair.
Intertextile Shanghai Home Textiles Spring Edition is organised by Messe Frankfurt (HK) Ltd, the Sub-Council of Textile Industry, CCPIT and the China Home Textile Association (CHTA).
The internationally renowned Intertextile Beijing Apparel Fabrics, will take place for three days from 30 March 2011 at the China International Exhibition Centre. Nearly 1,200 suppliers from around the world are confirmed to participate, an increase of 6 percent from the previous show. Originating from 16 countries and regions, exhibitors will showcase a variety of products suitable for menswear, ladieswear, casualwear, functional / sportswear and denim on 50,000 sqm of exhibition space.
"Intertextile Beijing Apparel Fabrics has yet to reach its fullest potential," stated Ms Wendy Wen, Director, Trade Fairs for Messe Frankfurt HK Ltd. "Each season, our show grows in scope, from expanding our product sectors to finding new suppliers, we are committed to help drive the textile market sector in China forward."
She added, "A clear indication of our team's dedication is the growing number of top retailers who are attending, such as Burberry, Mango, Newtimes, Polo Ralph Lauren and TAL who will participate in our exclusive Business Matching Programme. We are confident that attendees will not only see the difference but feel it as well."
A focal point at this year's spring fair is the new SalonEurope (Hall 3), which groups some suppliers into pavilions from Germany and Italy; as well as individual suppliers from Portugal, Switzerland, Turkey and the UK. Visitors can expect to find accessories, cotton blends, wovens and silks, plus many other luxurious materials including super fine wools, mohair and cashmere in the SalonEurope.
Aside from European made products, a collection of items made by reputable and established Asian manufacturers will be on-site. These include a Japan zone (Hall 4) as well as country / region pavilions from Korea (Hall 2), Pakistan (Hall 4) and Taiwan (Hall 4). An assortment of denim, cotton, functional and eco textiles are offered in these special areas.
Additional country / region representation includes: Austria, China, Germany, Hong Kong, India, Thailand and the US. Another key component of the product groups offered at the show is the expanded Accessories area, occupying the entire hall 9 and a portion of hall 7.
Meanwhile, some 900 suppliers from China offer competitively priced products and are organised into product end use (Halls 1, 5 - 9) including shirtings, ladieswear, casualwear, functional wear/sportswear, shirtings, denim and accessories.
One of the fair favourites, the Intertextile Directions trend forum (Hall 2) incorporates references on specific colour ranges, directions on fabrics, prints and garments, delivering an energetic insight for the SS12. This season, forecasters from Doneger Creative Services – New York, the US are in-charge of the entire conceptual on-site design.
Also ideal for inspiration are the two Fabrics China trend forums offering a glimpse into what fabrics, colours and textures will be in style for both menwsear (Hall 1A1) and ladieswear (Hall 8A) for the following SS12 season.
