Trident, a prominent manufacturer of bedsheets, bathrobes, comforters (razai) and paper products in India, is offering a discount of 40% to all its shareholders on all items purchased from its website. To qualify for the 40% discount, the customers/shareholders have to add items worth Rs 5,000 to their cart, upon which they’ll get a discount […]
Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]
V Mart, which has just acquired Arvind Fashion’s UNLIMITED chain of stores, wants to retarget these stores at customers who find shopping at Reliance Trends, Westside and MAX too expensive
Branded apparel maker Arvind Fashions, which sells clothes under brands such as Arrow, Tommy Hilfiger, US Polo and Flying Machine in India, is trying a new strategy as far as its online business is concerned, said Director Kulin Lalbhai. While traditionally, garment vendors have looked at e-commerce as a way to get rid of their […]
Third-quarter results from textiles and garments maker Arvind Ltd indicated that the economic recovery from the COVID-19 pandemic has been far from uniform across all sectors of industry. While certain segments, such as two-wheelers and electrical equipment, have bounced back or even exceeded their pre-COVID levels, there are still others like textiles, retail and hospitality […]
Aditya Birla Fashion and Retail has taken a controlling stake in designer brand Sabyasachi for Rs 398 cr, adding to its existing portfolio of brands that include Louis Philippe, Van Heusen, Allen Solly and Peter England. It will buy a 51% stake in the company founded by Sabyasachi Mukherjee in 1999. “Sabyasachi is India’s largest […]
V-Mart, India’s largest chain of smaller-sized fashion stores, said it has started purchasing fresh stock from its suppliers after nearly six months of freeze on garment procurement. The company was hit hard when a nationwide lockdown was imposed by the central government in late March to control the spread of COVID-19, particularly as it had […]
Arvind Ltd, one of India’s biggest textile and garment manufactures, said its business revenue was down about 37% in August compared to the previous year due to the impact of the Coronavirus lockdown and it expects domestic market to remain subdued till early 2021. Revenue in August was at Rs 414 cr in August, compared […]
GHCL, one of India’s leading manufacturers of home textiles launched a traceable Egyptian cotton bedding brand called Nile Harvest. The products will be sold mainly in the US and UK markets. The company has partnered with Tailorlux GmBH of Germany to use its IntegriTex technology for the marking and traceability of Egyptian cotton. The firm […]
KPR Mill Limited, which makes yarn, garments and sugar, said it has decided to enter into what it called ‘branded retail business’. “We wish to inform you that KPR plans to enter into branded retail business,” the company said in a regulatory filing. “(We have) initiated building up the retail business team,” it said. However, […]
Arvind Limited, one of the largest integrated textile and branded apparel players, reported an improved set of results for the Jan-Mar quarter, boosted by strong revenue growth. Pretax profit rose by Rs 32 cr (29%) on year to 142 cr. This was also 57% higher compared to the preceding quarter. Higher tax expenses (Rs 26 […]
Textile and garments maker Arvind Ltd said it set up a joint venture with global auto-seat specialist Adient to manufacture automotive seat fabrics in India. Adient Arvind Automotive Fabrics will be based in Ahmedabad, India, and will supply materials both to Indian and foreign customers of Adient. “The joint venture will benefit from synergies between […]
Apparel Export Promotion Council of India has sounded alarm on the continued decline in apparel production in India and said India won’t be able to meet the garment export target of $20 bln this year. “If the capital blockage continues and the cost competitiveness of the industry is not restored, the slippage in exports will […]
TT Ltd said it has decided to set up a mega garment plant in place of Spinning Machinery at Gajroula in Uttar Pradesh. The move is part of its attempt to diversify from textile making to making garments. “TT is exiting from spinning and entering the garmenting and fabric business on a massive scale,” the […]
Rupa & Company, one of India’s largest knitwear manufacturers, said it is launching ‘Fruit of the Loom’ underwear brand in India. Fruit of the Loom, based in Kentucky, is one of the largest manufacturers and marketers underwear, T-shirts and fleece in the world. The company will launch 87 styles across the men’s & women’s range […]
Representatives of apparel exports met commerce minister Suresh Prabhu and sought certain changes in the tax reimbursement scheme under the current Goods and Services Tax regime. Apparel exporters are eligible for reimbursement of various state and central taxes under two schemes meant to promote exports: Rebate of State Levies (ROSL) and Drawback (DBK). However, they […]
Textiles and garments brand Raymond inaugurated a garment manufacturing plant in Ethiopia to gain duty-free access to the US and European markets. The plant was set up at a cost of Rs 100 cr and will employ over 2500 people in the first phase. More people will join later, the company said. Ethiopia also gives […]
Shareholders of Raymond Ltd rejected the sale of apartments in the company’s headquarters JK House to certain promoters. Chairman of the company Gautam Singhania had urged shareholders to vote against the resolution as the sale of the apartments would cause losses to the company as a whole. Four duplex flats were let to four members […]
Indian apparel makers have sought government intervention to stabilize the rupee, which has been rising in recent months, in stark contrast to the situation in other countries that compete with India in exporting garments. “Other countries started taking recourse to depreciating their respective currencies during the last one-and-a-half years, whereas Indian Rupee got appreciated,” complained […]
The industry has welcomed the move by the government led by Narendra Modi to extend support to the made-ups export industry and said it would help the sector break out of its current slump. The cabinet had yesterday included the made-ups sector in the Rs 6,000-cr apparel package unveiled in June this year. Made-ups include […]
