LC Waikiki, Turkey based clothing firm that operates in over 20 countries across the globe, has expressed its interest to invest in Kenyan textile and apparel sector as it offers a world class investment location with competitive advantage to boost Nairobi’s efforts to grow the textile and apparel sector. The company is in discussion with leading shopping malls, namely, The Junction, Two Rivers and Garden City, in a bid to acquire retail shops. Kenya is on the charm offensive to win big in th

The international business news is once again dominated by Chinese companies' overseas investment and expansion plans. Chinese textiles group Ningbo Shantex Co Ltd which manufactures and exports textile accessories likely to make a takeover bid for United Kingdom-based apparel chain Phase Eight. Shantex is already in preliminary talks with Towerbrook, a private equity company that bought Phase Eight in 2011. Phase Eight was established in 1979 by Patsy Seddon in London to offer fashionable cl

Improved demand since a couple of days has resulted in better cotton prices as mills picked up their ready requirements of lint from the market. Both seed cotton (Kapas / Phutti) and lint prices increased at midweek following some recent rains in the cotton belt and a slightly lower production estimate of the current crop (August 2014 / July 2015). Seed cotton prices in Sindh reportedly ranged from Rs 1700 to Rs 2300 per 40 Kgs, while in the Punjab they are said to have prevailed from Rs 1900 t

Despite the political turmoil, nearly 900 garment and textile machine makers from 33 countries have gathered in Dhaka to show how improved technology could have an impact on the apparel sector. Exhibitors have come with modern machines and technologies -- for textiles to accessories, bleaching and washing, dyeing, knitting, cutting and laying and computer software -- to the 12th Dhaka International Textile and Garment Industry Exhibition 2015. Bangladesh Textile Mills Association in associ

Vinatex and the Itochu Group, two leading textile and garment makers of Vietnam and Japan, have just inked a framework cooperative agreement on implementing a string of new projects on finished textiles-dyeing products and raw materials in Vietnam. The string of projects aims to help Vinatex increase its self-reliance on material sources and expand its portfolio of finished textile, dyeing and raw material projects. The initial stages of the project items are designed to primarily serve Vi

Fresh demand by mills and spinners, helped the rates to hold present levels, dealers said on the cotton market on Tuesday. The official spot rate was unchanged at Rs 4,750, dealers said. In the ready session, trading activity improved slightly, as about 5000 bales of cotton changed hands between Rs 3450 and Rs 4950, they said. The seed cotton rates in Sindh at Rs 1600 and Rs 2300, in Punjab prices were at Rs 1700 and Rs 2500, they said. According to the market sources, trading activity improv

Despite several requests from Ministry of Textiles to Federal Board of Revenue, the value-added textile sector is still facing serious financial crisis, as more than Rs.200 billion of value-added textile chain has been stuck up with the government. According to officials, millions of rupees refunds of Sales Tax and Customs rebates payable to the exporters have been held up despite government assurances that all refunds of the exporters would be cleared by September 2014. The textile indust

Losses in the garment sector are mounting everyday for the blockade and shutdowns called by the BNP-led alliance, with 23 garment factories reporting losses of $19.02 million between January 14 and February 1. The amount will be much bigger if the losses of all affected factories are calculated, said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association. So far, only 23 factories have responded to the platform's request for quotations of losses incurred for

The global buyers of the RMG products have urged the commerce minister to maintain the supply chain, resolving the ongoing political disturbance rapidly for the sake of the country’s apparel business. They came up with the call at Byers’ Forum meeting held at a city hotel yesterday. The representatives from 65 brands including Inditex, Walmart, H&M, C&A Tesco and GAP attended the meeting. Responding to the buyers’ demands, Commerce Minister Tofail Ahmed assured the buyers of mainta

Readymade garment factory owners are going to enjoy four-year deferred letter of credit payment facility in importing capital machinery and five-year repayment facilities for foreign loans in place of existing one year. According to a recent decision of the Board of Investment and Bangladesh Bank, the garment manufacturers who want to get the opportunity of opening deferred LC for the period of three years more, will have to submit applications to the BoI. The Bangladesh Garment Manufact