Guess, the casual denim fashion business famous for its triangle-logo jeans, is to re-enter the Japanese market. The company pulled out of Japan eight years ago, but will begin selling jeans and other clothing as it plans to open a directly managed store in Tokyo. Guess aims to have 40 Japanese locations over the next three years, totalling 6 billion yen in revenue over the next five years. Itochu Corp acquired import and sales rights to Guess merchandise in 1994, but sales of most items have

Vietnam exported US$750 million worth of footwear products in May, bringing the commodity’s export turnovers in the first five months of the year to more than $3.1 billion. Export turnovers rose 11.4 percent compared to the same period last year, according to the Vietnam Leather and Footwear Association (Lefaso). Footwear manufacturers have stable orders, and are signing contracts with new importers, the association said. The footwear sector will greatly benefit from the Trans-Pacific P

The readymade garment (RMG) sector in Bangladesh is now under constant watch of the United States and the European Union as the government and the stakeholders in the country are trying to address the labour issues to retain its growing stake in the world apparel market, industry sources said. The sector has come under watch following the deadly collapse of Rana Plaza at Savar in April last that killed some 1,129 workers and maimed scores others, hardly five months after a devastating fire at

(State-run Hindustan Petroleum Corp will take in 84,000 barrels per day (bpd) from Saudi Arabia, more than double the 40,000 bpd it normally buys.) Top oil exporter Saudi Arabia is selling more crude to India in July as two refiners have asked for additional cargoes, industry and company sources familiar with the plan said, in part to make up for a loss of supplies from Iran. Hindustan Petroleum Corp (HPCL.NS) and Mangalore Refinery and Petrochemicals Ltd (MRPL.NS) stopped buying Iranian c

China imported about 400,000 barrels of crude oil from Iran in the first four months of 2013, up 11 percent compared to the same period in 2012, a Reuters survey showed. Three other major Asian buyers, namely India, Japan, and South Korea, reduced imports by 46 percent, 33 percent, and 28 percent, respectively. Iran’s oil exports will average 1.38 million barrels a day in the current Iranian fiscal year starting March 21, 2013, the International Energy Agency estimates. That’s in l

This seemingly sleepy town, almost sandwiched between Bangalore on one side and Kanyakumari on the other, breathes textile. About two and a half hours' drive from Coimbatore on an easy morning, with lush coconut trees, mills, car & bike showrooms, medical colleges and shops such as 'Coffee Prince' and 'Flying Cakes' lining the roads leading to the town, Karur is quite unlike Tamil Nadu's other textile bastion, Tirupur, which is more about latest fashion, designers, international buyers and n

The rupee’s free fall may cheer garment and textile exporters temporarily but they are not getting carried away, as inflation and pricing pressure from global buyers threaten to cut the party short. Exporters are concerned about the “dramatic” fall in the Indian currency. Says Charath Narsimhan, Managing Director of the Chennai-based Celebrity Fashions, “The volatile rupee could go back as quickly as it fell. The impact can be truly felt only if the momentum sustains.” According to A. Sak

Cotton consumption in Bangladesh will increase 7 percent to 7.28 lakh tonnes this fiscal year for continued export growth of garment and yarn, according to the Economist Intelligence Unit (EIU). The country currently consumes 6.8 lakh tonnes of cotton a year, according to data by Bangladesh Textile Mills Association (BTMA), the platform for cotton importers and spinners. “In Bangladesh, cheap labour costs, relocation by Indian and Chinese companies, and investment in the textiles sector sugg

The Karachi Cotton Exchange (KCE) increased its cotton spot (average) rate by Rs100 per maund (37.324 kilograms) to Rs6,500 per maund ahead of the expected heavy rains that may damage standing crop in fields, a dealer said on Tuesday. “Forecast for heavy rains in the cotton belts invited panic buying from spinning mills. The situation convinced the KCE to increase its spot rate,” Taqi Abbas, a member of the Advisory Committee of the Karachi Cotton Association, said. He said that heavy rains

MRS Fashions, a top clothing exporter in Bahrain, plans to open a new $10 million factory in September to meet rising demand from American consumers. The company accounts for nearly 70 per cent of Bahraini exports to the US. The new 100,000 sq ft facility, which will feature the latest machinery from Germany and Japan, is expected to manufacture three million pieces of designer clothing for JC Penney, Haggar, and Macy's. The company's existing factory produces nearly 160,000 garments per wee