Apparel, Fashion, Retail

Dressfolk Raises Rs 3.3 Crore In Seed Funding Led By All In Capital

October 7, 2023

Indian ethical clothing brand Dressfolk has announced a significant milestone in its growth journey, raising Rs 3.3 crore in a seed round of funding. The funding round was spearheaded by All In Capital, with participation from notable strategic investors such as Sidhant Keshwani of Libas,

Apparel, Fashion, Retail

Reliance Brands Strengthens Partnership With Superdry PLC

Textile Insights October 6, 2023

Reliance Brands through its wholly owned UK subsidiary RBUK has entered into a joint venture with UK-based Superdry PLC. The JV will acquire Superdry’s intellectual property assets for India, Sri Lanka, and Bangladesh. RBUK will own 76 percent and Superdry the rest of the JV entity and the consideration for the IP is £40 million. […]

Apparel, Fashion, Retail

NCTO Applauds Raising Issue Of China’s Predatory Practices

Textile Insights October 3, 2023

National Council of Textile Organisations (NCTO) has applauded the actions of a bipartisan group of senators who are raising alarm about the impact of China’s predatory trade practices on the US textile and apparel industry. NCTO has called on President Joe Biden to lead a multi-agency effort to substantially step up enforcement and develop a […]

Apparel, Fashion, Retail

Inditex & International Apparel Federation Ink Agreement

Textile Insights October 3, 2023

One of the world’s biggest garment retailers, Inditex and the International Apparel Federation (IAF) have signed a framework agreement to drive transformation in the apparel and textile industry “The agreement aims to promote a more respectful industry for people and planet by boosting circularity, traceability and worker wellbeing,” IAF said in a press release. The […]

Apparel, Fashion, Retail

US restricts imports from three more Chinese textile firms

Textile Insights October 2, 2023

In a bid to eliminate fashion goods made with forced Uyghur labour, the US has restricted imports from three more Chinese companies, bringing the total number of banned entities to 27. The names of Xinjiang Tianmian Foundation Textile, Xinjiang Tianshan Wool Textile and Xinjiang Zhongtai Group were added to the Uyghur Forced Labour Prevention Act […]

Apparel, Fashion, Retail

Garment Manufacturers Revenue May Rise 8-10% In FY’24

Textile Insights September 30, 2023

Revenue of Indian garment manufacturers is expected to increase by 8-10 percent in current fiscal on the back of healthy domestic demand and revival in exports. According to a CRISIL Ratings report, volume growth will be higher at 6-8 percent in the present fiscal, as against 3-5 percent in the previous fiscal. The report also […]

Apparel, Fashion, Retail

ABFRL Acquires Control Via 51% Stake In TCNS Clothing

Textile Insights September 28, 2023

Aditya Birla Fashion Retail Ltd (ABFRL) has acquired a 51 percent stake in TCNS Clothing to become a promoter of the women’s apparel brand. “The company has acquired 51 per cent of the expanded share capital of TCNS, thereby acquiring control over TCNS,” ABFRL said in a regulatory filing. Aditya Birla Group had announced in […]

Apparel, Fashion, Retail

US Advises Bangladesh To Stop Export Of Counterfeit Apparel

Textile Insights September 25, 2023

As per a statement of the United States Trade Representative (USTR), the US has advised Bangladesh to take action and stop export of counterfeit garments. Previously, the USTR had identified Bangladesh as one of the top five countries from where counterfeit apparels are exported worldwide. The concerns regarding counterfeit clothing were raised during the Trade […]

Apparel, Fashion, Retail

Indian Fashion Retailers’ Margins To Slip 120bps In FY’24

Textile Insights September 23, 2023

Fashion retailers will report 120 bps slip in margins mainly due to offering higher discounts and hike in advertisement spends, despite expectations of 13 percent revenue growth in fiscal 2024. An ICRA analysis also informed that the industry is poised to face this margin squeeze primarily due to amplified discounting and escalating expenditures on advertising […]

Apparel, Fashion, Retail

Poeticgem, A PDS Subsidiary, Acquires ‘Little Mistress’ Brand IP.

September 21, 2023

PDS Limited, a global fashion solutions company, is focused on expanding its portfolio with customized offerings, including sourcing as a service and brand management. In line with its strategy of adding value-accruing solutions to its offerings, it is pleased to announce that its UK-based vertical, Poeticgem, has acquired the brand intellectual property (IP) of Little