Courtesy: Avery DennisonAvery Dennison Corporation, a global materials science company specialising in design and manufacture of a wide variety of labeling and functional materials, reported net sales increase of 1.9 per cent to $1.77 billion for Q4 FY2018 ending December 29, 2018. The total net sales of the company increased 8.2 per cent to $7.16 billion FY2018. By segment, the label and graphic materials segment of the company reported sales increase of 1.7 per cent. On an organic basis, sa

Courtesy: PR Newswire/Foot LockerFoot Locker is investing $2 million in Pensole, which operates the Pensole Footwear Design Academy (Pensole). Pensole has been founded by former Jordan design director and inspirational educator D'Wayne Edwards. A celebrated member of the global sneaker community, Edwards' wants to create a pipeline of new designers for the entire footwear industry. Edwards does this by offering free tuition and a learn-by-doing curriculum that teaches students the entire foo

As part of the Kudumbashree’s initiative to ensure employment and income for women, a fashion designing training centre, called the Primero Apparel Park, has been set up in Kerala’s Punalur. Kudumbashree is the women empowerment programme of the State Poverty Eradication Mission. State forests minister K Raju will inaugurate the apparel park on February 1. The project is a joint venture with the Punalur municipality. The park will take orders from other sellers, but Kudumbashree will als

The department of clothing and textile of Vadodara-based M S University’s faculty of family and community sciences recently signed a memorandum of understanding (MoU) with the Apparel Training and Design Centre (ATDC) in Gurugram, Haryana, to offer skill development training. The MoU was signed at the Vibrant Gujarat Global Summit in Gandhinagar. ATDC has a pan-India presence under the aegis of Apparel Export Promotion Council (AEPC). “The MoU is a collaborative agreement for implementin

Courtesy: RieterDuring fiscal 2018, total sales of Rieter, a textile machinery company, were CHF 1,075.2 million, 11 per cent higher than CHF 965.6 million in the last fiscal. The company's net liquidity also increased to CHF 150.3 million over CHF 130.5 million in fiscal 2017. However, the order intake was down 17 per cent year-on-year to CHF 868.8 million. In the Asian countries excluding China, India and Turkey, Rieter increased sales in the reporting year by 36 per cent to CHF 433.9 milli

Courtesy: Cotton USACotton USA showed the global home textile industry ‘What’s New in Cotton’, including new innovative technologies to drive sales growth, at the recently held Heimtextil expo in Frankfurt, Germany, the international trade fair for home and contract textiles. Cotton USA promotes US cotton fibre and manufactured cotton products all around the world. Twelve mills and manufacturers at the show expressed interest in becoming a Cotton USA licensee: one from the Czech Republic, Sp

The Federation of Indian Art Silk Weaving Industry (FIASWI) and the Federation of Gujarat Weavers’ Association (FOGWA) have urged Gujarat chief minister Vijay Rupani to consider extending power tariff relief to the existing power loom units and providing 10 per cent capital subsidy in the textile policy announced by the state government. The recently announced textile policy reduced the tariff by ₹3 per unit in the low tension (LT) lines and ₹2 per unit in the high tension (HT) l

Removal of import duty on man-made fibres (MMF) and reduction of goods and services tax (GST) on it from 18 per cent to 12 per cent and fixing of corporate tax rate for large companies at 30 per cent including surcharge and cesses are part of the pre-budget suggestions made by the Southern India Mills Association (SIMA) to the Confederation of Indian Textile Industry (CITI). Large companies are defined as the ones with a turnover of more than ₹50 crore. Though the tax rate for such u

India’s Maharashtra state will develop a textile park in Koradi. The Maharashtra State Power Generation Company (Mahagenco) will provide its additional 169 hectare land for the park, where traders and industrialists of the city will get space. This was decided in a recent meeting chaired by the state’s guardian minister for Nagpur district Chandrashekhar Bawankule. Bawankule has directed officials of the Nagpur Metropolitan Region Development Authority (NMRDA), the nodal agency for the texti

The International Monetary Fund (IMF) recently retained its growth projection for India at 7.5 per cent for 2019-20, saying it is likely to accelerate to 7.7 per cent in 2020-21. India’s economy is poised to pick up in 2019, gaining from low oil prices and a slower pace of monetary tightening than expected earlier as inflation eases, says an IMF report. With the latest outlook, India will remain the fastest-growing economy in the world, at least for the next two years, according to Indian me