Apparel, Fashion, Retail

Nike Continues To Be Most Desired Brand Among US Teens

Textile Insights October 16, 2023

Nike continues to be most desired brand among US teenagers for both, apparel and footwear categories, taking a 35 percent mindshare in clothing and 61 percent in footwear. This was revealed in a bi-annual survey done by investment bank, Piper Sandler of 9,000 US teens, which also informed that

Corporates

Kitex Setting Up World’s Longest Integrated Textile Project

Textile Insights September 30, 2023

Kitex Group, the second largest global producer of babywear laid the foundation stone of its second fully integrated fibre-to-apparel production hub in Telangana, which will be the world’s longest integrated factory. The foundation stone for the second cluster is located in Seetharampur, Rangareddy and upon completion; it will stretch across 1.2 kilometers, set to

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 […]

Corporates

KKR Picks Additional Rs 2069 Crore Stake In Reliance Retail

Textile Insights September 12, 2023

Mukesh Ambani led Reliance Retail Ventures has received an investment of Rs 2,069.50 crore through an affiliate of global investment firm KKR. This investment values Reliance Retail a pre-money equity value of Rs 8.361 lakh crore, which makes it among the top four companies by equity value in the country. “KKR’s follow-on investment will translate […]

Apparel, Fashion, Retail

China Proposes Law To Ban Apparel Which May Hurts Feelings

Textile Insights September 11, 2023

China has proposed a law that would ban apparels which could hurt feelings of the Chinese people. The proposed law includes a range of behaviours including images on garments or a speech that is offensive for Chinese people. The standing committee of the country’s legislature has released a draft of the legislation, and will be […]

Apparel, Fashion, Retail

TMRW & Bain Release Report On Digital Fashion Disruptor Brands

Textile Insights September 9, 2023

TMRW, an Aditya Birla Group backed company, which manages garment brands like Bewakoof, JuneBerry, Nobero, Urbano, etc and, Bain & Company have released a report on ‘Digital Fashion Disruptors: Navigating the Future of Fashion’. According to the report, digital disruptor brands are projected to outpace India’s online fashion market growth with 35

Apparel, Fashion, Retail

Reliance Retail Almost Doubles Valuation In Three Years

Textile Insights August 29, 2023

Mukesh Ambani led Reliance Retail’s valuation has almost doubled, notwithstanding the intervening Covid-19 pandemic. Qatar Investment Authority recently became an investor in Reliance Retail, with an investment of US $1 billion for a 1 percent equity stake. This investment values Reliance Retail at a pre-money equity value of Rs 828,000 crore as against it’s fund-raise

Apparel, Fashion, Retail

True Fit Partners Shopify For Fashion Genome

Textile Insights August 17, 2023

True Fit, an AI platform that decodes apparel size and fit for consumers has partnered with Shopify Inc., a commerce platform that enables merchants to start, grow and manage a business. “The strategic partnership will bring the quality, reliability, and economic benefits for which True Fit is known with its enterprise customers to merchants of […]

Industry

Smuggling Of Textiles & Clothing Kill Nigerian Textile Sector

Textile Insights August 8, 2023

Smuggling of textiles and garments through Nigeria’s land borders, has led to the closure of over 150 textile companies in the last few decades. The closure of the Nigeria and Niger road border has left several trucks stranded on the border, which are carrying smuggled and cheap textiles This was revealed by the Director-General of […]

Apparel, Fashion, Retail

80% Of US Garment Brands Will Reduce Sourcing From China

Textile Insights August 5, 2023

Nearly 80 percent of US garment and fashion brands plan to reduce their China sourcing over the next two years. This was revealed in a survey done by the United States Fashion Industry Association (USFIA) of 30 fashion companies between April and June 2023, a majority of them having more than 1,000 employees. US fashion […]