News - Textile Insights - Page 283

Apparel, Fashion, Retail

Ethnic Wear Brand Fashor Raises US$ 5 Million In Funding Round

Textile Insights August 18, 2024

Fashor, an ethnic wear brand, has secured US$ 5 million in a funding round led by Blume Ventures. The investment, comprising both primary and secondary transactions, will be directed towards expanding the brand’s omni-channel presence, enhancing its supply chain and bolstering its overall brand

Cotton

USDA Lowers 2024/25 U.S. and Global Cotton Estimates

Textile Insights August 15, 2024

The USDA’s latest report for the 2024/25 cotton season indicates a significant reduction in U.S. cotton figures. U.S. cotton production is forecasted at 15.1 million bales, a drop of 1.9 million from the previous estimate. The report cites a decrease in planted area by 500,000 acres, now totaling 8.6 million acres due to a 23% […]

Corporates

Shinkong Invests US$10M in Ambercycle’s First Facility

Textile Insights August 15, 2024

Shinkong Synthetic Fibers Corporation, a global leader in polyester production, has invested US$ 10 million in Ambercycle’s inaugural state-of-the-art commercial facility. This investment will expand global production capacity for Ambercycle’s premium material, made from end-of-life textiles, and marks a significant milestone in the three-year collaboration between the two

Corporates

Lenzing Wins Platinum In EcoVadis CSR Rating

Textile Insights August 15, 2024

The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, has achieved platinum status in EcoVadis’ CSR rating for the fourth consecutive year. This top-tier recognition places Lenzing in the top 1% of companies globally evaluated by EcoVadis, which assesses corporate social responsibility across environment, fair

Event

German Pavilion Will Highlight Textile Tech At CAITME

Textile Insights August 15, 2024

CAITME 2024, set for 11-14 September in Tashkent, Uzbekistan, will feature a significant presence from VDMA member companies, with around 25 participants showcasing their innovations. Notably, 13 of these companies will exhibit within the official German Pavilion, a space organized by the German Federal Ministry for Economic Affairs and Climate Action and initiated by

Machinery

Benninger’s FabricMaster Revolutionizes Indian Textile Dyeing Industry

Textile Insights August 15, 2024

The Swiss company Benninger, renowned for its innovative textile machinery, has introduced its latest marvel, the FabricMaster, to the Indian market. This soft flow machine is already making waves globally, with installations in Europe, the USA, Peru, Central America, and Bangladesh. Now, it is set to transform the Indian textile industry, with production taking place […]

Apparel, Fashion, Retail

Cantabil Retail India Reports Strong Q1 FY25 Results

Textile Insights August 15, 2024

Cantabil Retail India Ltd., a leading apparel manufacturer and retailer in India, has announced its financial results for the first quarter ended June 30, 2024. The company reported quarterly revenue of Rs. 127.9 crore, marking a 14.4% increase year-on-year (YoY). EBITDA rose by 14.5% to Rs. 39.4 crore, while the net profit after tax (PAT) […]

Textile Park

Telangana CM Promotes Warangal Textile Park Abroad

Textile Insights August 15, 2024

Telangana Chief Minister A. Revanth Reddy, during his visit to the US and South Korea to attract investment, has promoted the mega textile park in Warangal as a prime investment destination for Korean companies. Accompanied by State Industries Minister D. Sridhar Babu and a team of officials, Reddy highlighted the park’s potential during a business […]

Cotton

Xinjiang Cotton Crisis Forces Chinese Textile Firms To Adapt

Textile Insights August 15, 2024

Hong Yongcheng, a towel factory owner, has shifted production to Xinjiang amid heightened restrictions on Chinese imports, particularly affecting US-bound goods. With American buyers hesitant to renew orders due to these restrictions, Hong’s decision was driven by cost-cutting measures rather than a strategy to regain foreign markets. “I don’t see much hope in

Textile Park

Central Government Approves New Textile Project In Bihar

Textile Insights August 15, 2024

The central government has approved several initiatives to strengthen the textile industry in Bihar, as announced by State Industries Minister Nitish Mishra. The approval comes as part of ongoing efforts to enhance industrial development and create employment opportunities in the state. Among the approved projects is the development of the silk industry in Bhagalpur

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