December, 16-31, 2014

As the year comes to a close, a lot has been happening in the industry, with news that is both sweet and sour, while on one side buyers’ are looking to expand sourcing in the country, many incidences have rocked the industry. Ranked as the fourth largest buyer of garments in the world, after Inditex, Gap and H&M, Uniqlo, an iconic brand from Japan, has taken the global market by storm. With sales from international operations standing at a whooping ¥ 400.00 billion (US $ 3.36 billion) and the number of Uniqlo stores located outside of Japan rising to 632 stores, the global retail giant recently committed to increase sourcing from India as it met top 40 export houses and the EC committee of AEPC at its headquarters in Gurgaon. Raising eyebrows, news appeared in a section of the press stating that an Income Tax raid has been conducted on the premises and offices of Meenu Creations Private Limited, a well-known and respected name of Noida’s apparel export fraternity. An official claimed Rs. 40 lakh was seized from the residence of Anil Peshawari, a partner in Meenu Creations, and listed in the property scam with other ‘top’ officers of Noida authority. Amidst all this, Anil denies any connection and expressed shock and anger, not able to understand why he is being targeted. Under the ‘India Canvas’ section, Jaipur finds a special mention as the city is growing despite struggles. Team AOmet many exporters and stakeholders, getting a mixed update about current situation of Jaipur garment industry. Besides the above, our regular columns of Mind Tree, H2F, Fashion Trends, Industry Wire, Export Statistics, etc. make the issue worth reading.