Bangladesh government and readymade garment factory owners have expressed their deep displeasure over a unilateral decision made by the EU brands and retailers to extend the presence of Accord on Fire and Building Safety in Bangladesh by three years. Commerce minister Tofail Ahmed and law minister Anisul Huq at an emergency meeting with the partners of Sustainability Compact at the Bangladesh Secretariat on Sunday made clear the government’s position on the matter. At the meeting, the com

Rieter, the leading supplier of systems for short-staple fibre spinning based in Switzerland, has announced that the company has acquired the SSM Textile Machinery Division (SSM) from Schweiter Technologies AG, an innovative leader in yarn processing and winding and Swiss developer, leader, and holder of patents in electronic yarn guiding systems. SSM is the world’s leading supplier of precision winding machines in the fields of dyeing, weaving and sewing thread preparation and enjoys succes

For the fourth quarter of 2017, Nike's revenue has gone up 5 per cent to $8.7 billion. On currency neutral basis, the company has achieved 7 per cent growth. For 2017, revenue went up 6 per cent to $34.4 billion. International geographies and the Direct-to-Consumer (DTC) businesses globally led strong revenue growth in the fourth quarter and full year. Revenue for Nike brand was $8.1 billion, up 7 per cent on a currency-neutral basis driven by double-digit growth in Western Europe, Greater Ch

The textile trade between India and Russia currently stands at $161 million, but has the potential to reach more than $1 billion with a huge market of winter wears in Russia, said J K Dadu, additional secretary, Union ministry of textiles while speaking at a country session on the second day of Textiles India 2017. With over 10 months of extreme cold climate in Russia, India can has the potential to cater to this weather through items such as leather jackets, caps, boots, pashmina shawls and

As part of the Textile India 2017 exhibition, there were two fashion shows that are curated and produced by IMG Reliance Industries Ltd -- Evolution of Textiles of India and The Indian Handloom Show. Some known fashion designers, including Payal Khandwala, showcased their collections at the platform. At the event designer Payal Khandwala said that handwoven textiles must be incorporated into the industry in a more responsible way, one that is sustainable and long term. That requires commitmen

According to figures provided by the USDA, China’s appetite for cotton in 2016/17 is higher than previously estimated in May. The USDA’s June figures show that Chinese imports of cotton fibres have been revised upwards by 4.2% (+200,000 480lb bales) relative to estimates made in May, while domestic demand has been revised upwards by 1.4% (+500,000 480lb bales). As a result of such revisions, expectations of China’s 2016/17 total cotton supply were revised upwards in June relative to May by 0.

Paul Siu, deputy CEO of Deloitte China, is confident of China's economy and expects it to benefit more from reforms. "China's economy is very positive in general. The dividends from reform are huge and yet to be fully realized," he said during the sideline of the 2017 Annual Meeting of New Champions, also known as Summer Davos, in Dalian. China has set the target of achieving GDP growth at around 6.5 percent this year. In the first quarter, GDP grew at 6.9 percent year-on-year, getting the

Nandan Denim was trading higher by 6% to Rs 141 on BSE after the company engaged in textiles business said that the promoter of the company has acquired 235,009 equity shares representing 0.49% stake via open market. “On June 30, 2017, Vedprakash Devkinandan Chirpal had bought 100,000 equity shares from the open market on NSE and BSE,” NDL said in a regulatory filing. Earlier on June 27, 2017, Vedprakash Devkinandan Chirpal had purchased 80,000 shares, while on June 23, he purchased 55,

Best Pacific plans to debut one of the first lines of commercially available Lycra Sport Power-Comfort-Energy index-certified fabrics on the market at the Outdoor Retailer Summer Market show in Salt Lake City. The new fabrics leverage the recovery performance of Invista’s Lycra Sport technology and Best Pacific's high-gauge, double knitting construction. The Outdoor Retailer Summer Show is being held during July 26-29, 2017. The new fabrics deliver an outstanding stretch modulus and are

China’s textile conglomerate China Hi-Tech Group Corporation has become a wholly-owned subsidiary of China National Machinery Industry Corporation (Sinomach), an equipment manufacturing group, after the State Council gave nod for the same. The State-owned Assets Supervision and Administration Commission (SASAC) will no longer supervise China Hi-Tech. Post this announcement, the number of central State-owned enterprises (SOEs) has reduced to 101. The SASAC aims to bring down the number of cent