Corporates

Garment Brand Libas Bags Rs 150cr Funding From ICICI Venture

Textile Insights May 31, 2024

Omni-channel retailer and ethnic wear brand Libas has successfully closed its first external funding round and bagged an investment of Rs 150 crore by IAF Series 5, a fund managed by ICICI Venture. Libas has fast-tracked its growth to become a leading force in the online fashion segment,

Industry

Turkish Company To Set Up 7.2mn Jeans Pieces Unit In Egypt

Textile Insights May 31, 2024

Egypt’s General Authority of the Suez Canal Economic Zone (SCZONE) signed land contract with Eroglu Egypt for a 65,000-square metre area. The contract aims to establish the Eroğlu Egypt’s readymade garments factory in the Qantara West Industrial Zone at a total investment of $40 million. “This factory, which is expected to create over 3,000 jobs, […]

Industry

Ichalkaranji Textile Sizing Units Warn Of Going On Strike

Textile Insights May 31, 2024

Textile sizing unit owners of Ichalkaranji have warned that they will go an indefinite strike due to pressure from the Maharashtra Pollution Control Board (MPCB). Textile sizing unit owners of Ichalkaranji have alleged that the pressure from MPCB will leave no alternative but to shutdown their operations. At a meeting organised by the local textile […]

Home Textiles

Chinese Home Textile Exports Grow Above Pre-Pandemic Levels

Textile Insights May 31, 2024

In the first four months of current year, Chinese home textile exports totaled US $10.12 billion, a marginal increase of 0.8 percent year on year, but still up 28.3 percent over the same period in 2019. Export of bedding products between January and April 2024 was $4.41 billion, growing by 1.6 percent over a year […]

Sustainability

Bangladesh Adds 12 More LEED Certified Garment Units In 2024

Textile Insights May 31, 2024

In the first five months of ongoing year, 12 more Bangladesh garment factories bagged the LEED certification, bringing the number of Bangladeshi LEED certified apparel factories to 218. LEED (Leadership in Energy and Environmental Design) is a globally recognised green building rating system that emphasises environmental responsibility and energy efficiency. “This recent

Financial Results

Harish Textile Engineers Slips Into Q4FY’2024 Net Loss

Textile Insights May 31, 2024

Mumbai headquartered Harish Textile Engineers slipped in to a loss in the fourth fiscal quarter ending March 31, 2024. However, the company reported an increase in sales in the same quarter. The textile machinery manufacturer reported a net loss of Rs 0.86 crore in the January to March 2024 quarter compared to profit of Rs […]

Technical Textile & Nonwoven

Asia Nonwovens Technology Expo Debuts In Bangkok From Nov 13

Textile Insights May 30, 2024

The Asia Nonwovens Technology Expo (ANTEX Asia) 2024, which will be the largest nonwovens show in Southeast Asia and the ASEAN region, is set to debut from November 13-15, 2024 in Bangkok, Thailand. ANTAX Asia will show sustainable and emerging technologies and has a goal of attracting over 200 exhibitors and 4,000 attendees from 20 […]

Textile Park

Burhanpur Textile Park Witnesses Waiting List For Plots

Textile Insights May 30, 2024

The proposed textile park in Sukhpuri, Burhanpur district, has reported a substantial waitlist of industries seeking to establish operations within the forthcoming industrial park. The Special Purpose Vehicle (SPV) established to oversee development of the park has obtained partial funding commitments from 250 companies for the cluster’s saleable area of 42 lakh

Financial Results

Aditya Birla Fashion And Retail’s Net Loss at 37% In Q4FY’24

Textile Insights May 30, 2024

In the fourth quarter of fiscal 2023-24, net loss at Aditya Birla Fashion and Retail Ltd (ABFRL) stood at 37 percent and reached Rs 266 crore compared to Rs 195 crore in the comparable months of earlier fiscal. Revenue in the January to March period at the Aditya Birla Group company grew to Rs 3,407 […]

Apparel, Fashion, Retail

Uniqlo Plans To Double Store Count In India To 28-30 Outlets

Textile Insights May 30, 2024

Asia biggest fashion retailer Uniqlo has plans to double its store count in India and raise it to 28-30 stores from the present 13 outlets it operates in the India. “Uniqlo currently operates 13 stores in India and plans to open about 28-30 stores in the next three years,” a source told India Retailing. “They […]