Corporates

Himatsingka Seide Limited Successfully Completes Rs. 400 Crore QIP

Textile Insights November 8, 2024

Himatsingka Seide Limited (HSL) has announced the successful completion of its Rs. 400 crore Qualified Institutional Placement (QIP). The funds raised will primarily be used to repay and reduce the company’s outstanding debt, bolstering HSL’s financial position and supporting its long-term

Corporates

Rieter, ARISE IIP And Afreximbank Sign Landmark Agreement For Africa’s Textile Renaissance

Textile Insights November 6, 2024

ARISE IIP, a leading developer of industrial parks in Africa, has joined forces with the African Export-Import Bank (Afreximbank) and Rieter, a global leader in spinning systems for yarn manufacturing. Together, they aim to drive the “Africa Textile Renaissance Plan” – a transformative initiative to revitalize Africa’s textile industry and create sustainable growth. This

Corporates

Itema Acquires Balance 20% Stake To Become Sole Owner Of Schoch & Co

Textile Insights November 3, 2024

Itema, a global leader in advanced weaving solutions, has completed its acquisition of Schoch & Co Srl, a longstanding supplier of textile machine components like reeds and drop wires. This final acquisition stage follows Itema’s 2019 purchase of an 80% stake, with the recent agreement granting Itema the remaining 20%, making it the sole owner […]

Corporates

Syre, RE&UP Recycling Technologies, And Sci-Lume Labs Inc. Join ITMF As Corporate Members

Textile Insights November 3, 2024

Three innovative companies, Syre, RE&UP Recycling Technologies, and Sci-Lume Labs Inc., have recently joined the International Textile Manufacturers Federation (ITMF) as corporate members, strengthening the organization’s commitment to promoting sustainability and circularity in the textile industry. Syre, focused on decarbonizing and dewasting textiles, aims to

Corporates

Rieter Issues CHF 65 Million Bond

Textile Insights October 31, 2024

Rieter has successfully placed a CHF 65 million bond with a five-year term and a 3.5% coupon rate. The net proceeds will support general corporate purposes, enhancing Rieter’s financial flexibility and extending its debt maturity profile. “This bond not only diversifies our investor base but also strengthens our strategic flexibility,” said Oliver Streuli, CFO of

Corporates

Vinted Completes €340 Million Secondary Share Sale

Textile Insights October 28, 2024

Vinted, Europe’s leading second-hand C2C marketplace for fashion, has successfully completed a €340 million secondary share sale, valuing the company at €5 billion. This transaction, led by TPG (NASDAQ: TPG), a prominent global alternative asset manager, acknowledges the contributions of employees and early investors to Vinted’s growth and positions the company

Corporates

Suominen Appoints Minna Rouru As Chief People & Communications Officer

Textile Insights October 27, 2024

Suominen Corporation announced the appointment of Minna Rouru as Chief People & Communications Officer, effective by February 2025. Rouru will join the Executive Management Team and report directly to President and CEO Tommi Björnman. Rouru brings a wealth of experience to the role, having served as Vice President of People & Communications at KONE Corporation,

Corporates

Lululemon Partners With Fanatics And NHL To Launch Fan Apparel Line

Textile Insights October 27, 2024

Lululemon has announced a multi-year partnership with Fanatics and the National Hockey League (NHL) to create a new line of fan apparel. Starting with 11 NHL teams for the 2024-25 season, the collection will expand to include all 32 teams by the 2025-26 season. The apparel will be available for purchase beginning October 29 across […]

Corporates

Inditex And Ambercycle Forge €70 Million Agreement For Regenerated Polyester

Textile Insights October 27, 2024

Inditex has signed a three-year agreement worth over €70 million with Ambercycle, a Los Angeles-based material science start-up, to purchase Cycora, a textile-to-textile recycled polyester. This partnership is crucial for scaling the production of Cycora and supporting the construction of Ambercycle’s first commercial textile regeneration facility. The new facility,

Corporates

Shiva Texyarn Wins Rs 41.24 Cr Order From Indian Army For ECWCS Wear

Textile Insights October 25, 2024

Shiva Texyarn Limited has announced that it has received a significant order from the Ministry of Defence, Department of Military Affairs, Indian Army, for the supply of 26,574 sets of Extreme Cold Weather Clothing Systems (ECWCS). The total value of the order stands at Rs 41.24 crore, inclusive of all applicable duties and taxes. The […]