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Lear Corporation, a global automotive technology leader in seating and e-systems, has received two first-place J.D. Power 2022 US Seat Quality and Satisfaction StudySM awards. In addition, Lear placed among the top three in four award-eligible categories. Lear’s overall quality score reinforced its position as a quality leader in seat satisfaction.

“Once again, Lear’s ability to deliver the quality, design and features which consumers demand, is recognised by the JD Power awards,” said Frank Orsini, executive vice president and president, Seating. “We are very proud of the teams in our just-in-time manufacturing plants, quality assurance and engineering centres. Their dedication to delivering the highest standards of design and operational excellence is making every drive better for customers around the world.”

Lear Corporation, a global automotive technology leader in seating and e-systems, has received two first-place J.D. Power 2022 US Seat Quality and Satisfaction StudySM awards. In addition, Lear placed among the top three in four award-eligible categories. Lear’s overall quality score reinforced its position as a quality leader in seat satisfaction.

The first place includes Mass Market Compact Car – Hyundai Elantra and Luxury Car – BMW 2 Series. The third place goes to Mass Market Compact SUV – Ford Bronco Sport and Jeep Compass (tie), Mass Market Truck – Chevrolet Silverado HD, Luxury Car – BMW 4 Series and Luxury SUV – BMW X3.

Conducted from February through May 2022, the 2022 US Seat Quality and Satisfaction Study is based on responses from 84,165 purchasers and lessees of new 2022 model-year vehicles. Seat quality is measured by the number of problems experienced per 100 vehicles (PP 100) during the first 90 days of ownership, with a lower score reflecting higher quality, the company said in a press release.

Fibre2Fashion News Desk (RR)

The Lenzing Group has concluded ‘The Lenzing Conclave’ in New Delhi. The conclave was aimed towards connecting the supply chain partners with the new generation of fibres and products for the textile industry through knowledge-sharing and a rich discussion platform. A key focus at the event was the challenge faced by the industry due to cotton supply and costs.

The discussions focused on the scope of end applications made using cotton – Lenzing fibre blends that provide comprehensive benefits throughout the supply chain and to end consumers. India is among the key markets for Lenzing Group and ‘The Lenzing Conclave’ represents their journey of 80+ years of fiber innovations and path to the future of textiles and fashion.

The Lenzing Group has concluded ‘The Lenzing Conclave’ in New Delhi. The conclave was aimed towards connecting the supply chain partners with the new generation of fibres and products for the textile industry through knowledge-sharing and a rich discussion platform. A key focus at the event was the challenge faced by the industry due to cotton supply and cos

The Lenzing Conclave came to a successful conclusion with the dissemination of new ideas and an expanded network of partners interested in taking it to market. Participants shared a commitment to implement sustainable and value-driven production throughout the supply chain, all the way to the end consumer. These concepts centered on meeting the market’s present fibre needs and solving the challenges related to cost, supply, and economic insecurity.

As well as becoming future-proof in light of the rate of expansion of the world’s textile markets and the requirement for superior, alternative fibres to satisfy this demand. The cotton – Tencel fibre blend options, which were presented in the product display, received a very positive response. The participants saw the value of these better performing and sustainable products meeting the current market needs. This particular line is expected to grow with more interest coming from the brands and manufacturers, the company said in a press release.

“We are glad to see the positive response to the conclave here in Delhi. We are striving to solve the crucial problem with the cotton availability and costs. Blends of cotton with Lenzing fibres are turning out to be a good alternate option for the industry with product benefits being passed throughout the supply chain to the end consumers. With our future ready sustainable fiber offerings, we see the opportunity to support the supply chain with superior products offered at a great value for them and their consumers. The current success of our Tencel and Lenzing Ecovero fibres are a proof to this vision,” S Jayaraman, senior commercial director, Lenzing Group, said.

The event featured product presentations for a variety of end uses including traditional clothing as well as denim, home and interiors, intimates and outerwear. The display featured a variety of innovative fabric advancements developed with Tencel lyocell and modal fibres, Lenzing Ecovero viscose fibres, and designed for the domestic and international markets. The conclave’s workshops walked attendees through the current state of the global fibre market and provided them with insight into its prospects.

With a presence of over two-decades in the Indian market, Lenzing has taken the lead in empowering India’s textile industry across the textile value chain to adopt more eco-friendly practices with the introduction of its flagship textile brand Tencel fibre. Lenzing opened the new year with celebrations around three decades of sustainable fiber innovation of its flagship textile brand, Tencel. Over the last 30 years, Tencel brand has empowered companies across the textile value chain to create premium value driven products for end consumers.

Lenzing’s original innovation Lenzing Ecovero viscose fibres have also been of key interest for the brands and manufacturers. Owing to its demand in western markets, Ecovero fibres continue to see new product innovations across different end applications.

In India, Lenzing has evolved from a one-product brand into a growing-basket of offerings as consumer demand for sustainable fashion products continue to grow. This success is reflected in collaborations with ace designers such as Satya Paul, Ritu Kumar, Rajesh Pratap Singh, Anita Dongre, and Abraham & Thakore to leading brands such as Levi’s, Jockey, Myntra, and Global Desi to name a few. Lenzing today is present across all major apparel categories in India such as ethnic wear, intimate wear, general outerwear, denims and home furnishings.

In 2020, Lenzing launched its first supply chain solution studio ‘The Lenzing Hub’ in Mumbai, and in 2022, it opened its second Hub in Surat, both of which are effectively meeting the demands of local businesses and connecting the local markets to new global innovations.

Fibre2Fashion News Desk (RR)

West Texas Intermediate (WTI) crude futures dropped by over 2 per cent to $89 per barrel, while brent crude prices dropped by over 3 per cent to reach $95 per barrel on Wednesday. Rising inflation, recession fears, fresh COVID curbs in China and the tightening of monetary policies by global economies are some of the reasons for the decrease in oil prices.

China’s northeastern port of Dalian, southern tech hub of Shenzhen and southwestern Chengdu are some of the cities experiencing fresh outbreaks and facing strict lockdown measures. This could lead to the country’s economic activity to take a slump again. China is the world’s largest oil importer.

West Texas Intermediate (WTI) crude futures dropped by over 2 per cent to $89 per barrel, while brent crude prices dropped by over 3 per cent to reach $95 per barrel on Wednesday. Rising inflation, recession fears, fresh COVID curbs in China and the tightening of monetary policies by global economies are some of the reasons for the decrease in oil prices.

Meanwhile, European Central Bank is contemplating a rate hike of 75bps to control inflation, while the Federal Reserve System of the US will also keep borrowing costs restrictive in the near future, according to global media reports.

Additionally, oil supply from OPEC has not been affected despite unrest in member countries like Iraq and Libya.

Fibre2Fashion News Desk (KD)

India’s Maharashtra state will have eight new multi-modal logistics parks in Ratnagiri, Jalna, Bhiwandi, Akola, Sangli, Jalgaon, Solapur and Nashik districts to reduce transport costs and generate jobs. The decision was recently taken in a virtual meeting of union road transport and highways minister Nitin Gadkari and state industries minister Uday Samant.

Bhiwandi and Solapur are textile and power loom hubs.

India’s Maharashtra state will have eight new multi-modal logistics parks in Ratnagiri, Jalna, Bhiwandi, Akola, Sangli, Jalgaon, Solapur and Nashik districts to reduce transport costs and generate jobs. The decision was recently taken in a virtual meeting of union road transport and highways minister Nitin Gadkari and state industries minister Uday Samant.

Gadkari said these parks will help reduce transport costs by 6-7 per cent. This will help will help retailers as well as consumers, Samant said, adding that necessary procedures to acquire land for development will be fast-tracked, media outlets reported from the state.

These parks are expected to help boost exports of the state’s specialties.

Fibre2Fashion News Desk (DS)

The net sales of Brunello Cucinelli, an Italian luxury fashion brand, was reported at €415.4 million in the first half of 2022, up 32.4 per cent at current exchange rates (28.3 per cent at constant exchange rates) compared to the first half of 2021. The company posted net profit of €50.6 million, up 131.4 per cent compared to €21.9 million at June 30, 2021.

In the first half of 2022, the company saw very important growth in all geographical areas, with the growth in Americas by 52.6 per cent, Asia by 27.2 per cent, Europe by 20.7 per cent, and Italy by 19.9 per cent; and in both sales channels, with increase in retail by 47.1 per cent and wholesale by 16.0 per cent.

The net sales of Brunello Cucinelli, an Italian luxury fashion brand, was reported at €415.4 million in the first half of 2022, up 32.4 per cent at current exchange rates (28.3 per cent at constant exchange rates) compared to the first half of 2021. The company posted net profit of €50.6 million, up 131.4 per cent compared to €21.9 million at June 30, 2021.

“The first half of 2022 closed with excellent results in terms of both growth and profits; on the back of these, we envisage a record year 2022 with revenue growth of around 15 per cent. During the pandemic, companies in our country, thanks to national social safety nets and wise and humanistic entrepreneurial choices, have generally managed not to lay off their staff and thus preserve the production and marketing of their products. Today, it seems to us that for certain products demand undoubtedly exceeds supply, which means that we Italians, great quality manufacturers, have become better at producing top-notch quality goods and consequently exporting them. There is no doubt that a strong dollar brings remarkable advantages to exports, and our sector will benefit therefrom,” Brunello Cucinelli, executive chairman and creative director of the Casa di Moda, said.

“The order intake for Spring Summer Men’s Women’s 2023 was very good, both in terms of quantity and image. All this makes us look forward to a year 2023 with a full 10 per cent growth in sales,” added Cucinelli.

“We would also like to recall that in comparison with 2021, the growth percentages for the first half of 2022 compared to year-end expectations benefit from the use of 2021 as a comparative base, a year in which the incidence of sales was significantly higher in the second half of the year, as a result of the impact related to the pandemic and the development dynamics of the retail network. For 2022, we fully confirm our expectations of an absolute rebalancing of margins to “normal” pre-pandemic levels, in line with the results of the first 6 months of the year. We maintain our belief in the importance of investment planning for 2022, which has contributed to the results achieved as at June 30, 2022 and will continue to enhance the company and the brand’s growth path, protecting its exclusivity and allure,” the company said in a press release.

Fibre2Fashion News Desk (RR)