In the first quarter of fiscal 2019, Shoppers Stop Limited (SSL) has recorded a rise in the EBITDA by 37 per cent from 35.44 crore to 48.63 crore. The growth was primarily due to reduction in operating expenses. PAT grew by 363 per cent in the first quarter of from a loss of ₹3.72 crore to a profit of 9.77 crore (without including comprehensive income). The revenue growth would have been ideally flat or marginally positive, however due to the reclassification post implementation of Acco

Uzbek textile firm Arnasoy Gold Tex, which has an Oeko-Tex Standard 100 certificate, is planning to manufacture products under the Zara Home Collection and Tac Home brands in the country. Specialists of these brands have been reportedly involved in the project for five years. A factory will be opened in 2019 for the same that will offer jobs to more than 700. The company is also planning to sign contracts with Nike and Adidas for production of sportswear, according to an Azeri news agency

Southern Gujarat Chambers of Commerce & Industry (SGCCI) is organising the first edition of Yarn Expo from August 4-6, 2018 at the Surat International Exhibition & Convention Centre (SIECC), Sarsana, Surat. The expo will see participation of around 80 exhibitors, displaying a wide variety of yarns. A Fashion Show and a Seminar will also be held concurrently. Well-known domestic yarn manufacturers like Reliance Industries, Bhilosa Industries, Wellknown Polyesters, Perfect Filament, Sha

The Compact for Continuous Improvements in Labour Rights and Factory Safety in the RMG and Knitwear Industry in Bangladesh (Compact) has urged the Government of Bangladesh to ensure that the Accord operations in Bangladesh continue until the Remediation Coordination Cell (RCC) is deemed ready by the multi-stakeholder Transition Monitoring Committee. The Compact partners viz. the Government of Bangladesh, Government of Canada, Government of the US, the European Commission, and the Internationa

The Yamuna Expressway Industrial Development Authority (YEIDA) in India’s Uttar Pradesh state is planning to set up a textile park near the upcoming Jewar airport in Gautam Buddha Nagar district, according to the authority, which recently held meetings with Noida Apparel Export Cluster (NAEC) and agreed to allot a 200-acre plot to 100 textile businesses. The textile park is expected to be ready in three years. Gautam Budh Nagar district is known for readymade garments (RMG). Land for

A new US textile maker Vidalia Denim has secured its initial funding to produce yarns and fabrics for the North American market. Located in Vidalia, Louisiana, the heart of the cotton-producing region of the Mississippi Delta, the factory will employ more than 300 full-time workers and over half of the mill's energy needs will be met from renewable sources. Utilizing next generation indigo dye technology, the company will use less water and manage its power usage more efficiently than any

Morro Capital, a Miami-based leader in menswear, has taken over the popular athletic apparel brand Jocko. The company will join Morro Capital’s growing portfolio of top apparel brands which include Agacio, Cover Male, Daniel Alexander, Pistol Pete, Edipous, Good Devil, Daddy Underwear, Intymen, Kyle, Honcho Underwear, Mensuas, Miami Jock, Otzi and Skiviez. Originally founded and operated in Los Angeles, California by Michael Lee, Jocko has established itself over the past 25 years as a go-

While welcoming the progress made on tariffs and the proposed Free Trade Area to eliminate the need for most border controls and delays as mentioned in the Brexit White Paper released recently, the British Retail Consortium (BRC) has demanded further clarity on what a phased system would look like in practice and on how a backstop arrangement would work. "The British Retail Consortium has made it clear that a frictionless customs system is vital for retail businesses so it is encouraging t

The revenue from continuing operations in VF Corporation has grown 23 per cent (up 21 per cent in constant dollars) to $2.8 billion in Q1 of fiscal 2019. Excluding the revenue from acquisitions, revenue grew 12 per cent (up 10 percent in constant dollars), driven by strength across VF’s global and direct-to-consumer platforms, active and work segments. For the reported period, gross margin from continuing operations increased 70 to 50.3 per cent. While on adjusted basis, gross margin increase

The International Sourcing Expo Australia will host nearly 700 textile, apparel and footwear manufacturers and agents from 16 countries from November 20. The trade-only show will offer fashion buyers and designers the full spectrum of product and service offerings from off-the-shelf clothing through to made-to-order pieces, fabric and functional textiles. This year’s show will feature a wider range of clothing and footwear than previously seen in Melbourne, organiser Marie Kinsella said. The