Revenues from premium value-added (PVA) products grew 10.1 per cent compared to the first quarter of fiscal 2018, or 14.4 per cent when excluding the impact of foreign currency translation, and represented approximately 43 per cent of consolidated net sales. During the reported period, gross margin was 11.0 per cent, compared to 14.2 per cent for the first quarter of fiscal 2018, impacted by higher costs, including raw materials, and a less favorable sales mix. Operating income was $5.7 milli

A three-day global textile exhibition in south India’s Coimbatore city beginning January 27 next year would have 600 stalls and is likely to attract 300 importers and buyers from abroad, according to Tamil Nadu state minister of handloom O S Manian. State minister of municipal administration S P Velumani said ₹2 crore has been allocated for the show. Manian said the handloom sector has been growing in production and export and this is the first time a state government is organising suc

Courtesy: Debenhams Retailer Debenhams is planning to close up to 50 stores in a period of over 3-5 years. The company is gaining traction in various volatile markets, and is also taking decisive action to strengthen market base. In fiscal 2018, the retailer delivered above-market digital growth of 12 per cent supported by improved mobile and customer experience. During the year, the company revitalised fashion product under new leadership and held share in clothing, and gained in womenswear.

India’s Aditya Birla Group chairman Kumar Mangalam Birla recently said the conglomerate is looking at a capital investment of $5 billion over the next three years across its businesses both in the home market and abroad. The group has already spent about $3.5 billion in the past two years across various businesses, he said at the Economist India Summit. In July, the group announced that it would buy US-based aluminium player Aleris for around $2.58 billion. Aleris, which Novelis is acqui

Courtesy: Avenue Avenue Stores, which operates the Avenue, Loralette, and Cloudwalkers brands of women’s fashion apparel, has joined hands with PredictSpring develop and launch its new mobile app. PredictSpring is the mobile commerce platform to connect consumer and store associate app experiences. Avenue Stores are known for reinventing plus size women’s clothing. PredictSpring integrated with salesforce commerce cloud to deliver a market-ready app in four weeks. The next generation app of

Courtesy: Polyu The Hong Kong Polytechnic University (PolyU) has come out with an intelligent fabric defect detection system, called WiseEye, which leverages advanced technologies including Artificial Intelligence (AI) and Deep Learning for quality control (QC) in textile industry. The system effectively minimises the chance of producing substandard fabric by 90 per cent. The system substantially reduces loss and wastage in the production. It also helps to save manpower as well as enhance t

South Africa’s Clothing and Textile Competitiveness Programme has helped sector exports grow from 7.1-billion rand (R) in 2008 to R25.1 billion in 2017 and will receive its share of the R15.9 billion allocated to incentives and the Expanded Public Works Programme. The Small Business and Innovation Fund will also help entrepreneurs in the pre-start-up phase. Twenty two new leather factories have been opened in the last nine years creating 2,200 jobs. To augment this, government funds will be

The Tiruppur Exporters’ Association (TEA) has expressed concern over employees availing long leaves during festivals such as Diwali which is impacting productivity at knitwear units. TEA is worried that delay in delivery schedule will lead to cancellation of orders which will have cascading effect on working capital leading to severe financial stress. This will be an advantage to our competing countries at a time when we are struggling to withstand the onslaught of their competition, TEA pr

Courtesy: Messe Frankfurt Messe Frankfurt, which has become a market leader in the international trade fair sector, has completed 70 years. It organised the Export Fair in Frankfurt in October 1948 - the first after the Second World War –stimulating German foreign trade and reconstruction of the exhibition grounds. In 1948, the company had two managing directors and 35 employees. Some 2,000 exhibitors from 32 industrial sectors from Germany and Europe presented an international range that i

Courtesy: Deckers Brands The net sales of Deckers Brands, a global leader in designing, marketing and distributing innovative footwear, apparel and accessories, has increased 4.0 per cent to $501.9 million in the second quarter of fiscal 2019 as compared to $482.5 million during the same period last year. On a constant currency basis, net sales increased 3.3 per cent. During the reported period, the company's gross margin was 50.2 per cent compared to 46.7 per cent for the same period last y