by TEXTILE VALUE CHAIN | Jun 17, 2024 | Business & Policy, News & Insights, Textile Industry
Upland cotton net export sales in the US for the week ended May 23, 2023-24 totalled 222,600 RB, showing a 10% increase from the previous week and a 25% increase from the prior 4-week average. The US Department of Agriculture’s export sales report attributed...
by TEXTILE VALUE CHAIN | Jun 6, 2024 | Business & Policy, News & Insights
Spanish clothing company Inditex, famous for Zara, saw a 7.1% increase in sales in Q1 FY24, reaching €8.2 billion. Adjusted sales grew by 10.6%. Gross profit rose by 7.3% to €4.9 billion, with a gross margin of 60.6%. Operating expenses increased by 6.4%, below sales...
by TEXTILE VALUE CHAIN | Jun 4, 2024 | Business & Policy, News & Insights
Genesco’s Q1 FY25 net sales totaled $458 million, showing a 5% decline from the previous year. This drop was attributed to lower store and wholesale sales, alongside net store closures. However, e-commerce sales increased by 3%. The company reported a GAAP...
by DIGITAL MEDIA EXECUTIVE | Jun 1, 2023 | News & Insights
Istat reports that Italy’s consumer confidence index decreased little this month, falling from 105.5 to 105.1. The only component that improved, from 119.0 to 119.8, was the economic situation. The current climate, the future climate, and the personal climate...
by DIGITAL MEDIA EXECUTIVE | May 29, 2023 | Finance & Economy
The Page Industries stock has been heavily sold off as a result of the 2022–23 fiscal year’s fourth quarter’s disappointing performance (Q4FY23). When sales are excluded during the Covid-19 period, unit volume fell 14.6% year over year (YoY) in Q4 while...
by DIGITAL MEDIA EXECUTIVE | May 24, 2023 | Finance & Economy
Wakefit, the top direct-to-consumer provider of home and sleep solutions in India, claimed a 30% year-over-year (YoY) growth, bringing in over $825 million during the fiscal year 2022–2023 (FY23). Wakefit expanded its reach in FY23 by opening 22 physical locations...
by DIGITAL MEDIA EXECUTIVE | May 18, 2023 | Garment
Amazon Smbhav Venture Fund led a new fundraising round of Rs 110 crore ($13.5 million) for the men’s knickers and lifestyle brand XYXX. The round also included participation from pre-existing institutional investors such as Sauce.vc, Anicut Capital, DSG Consumer...
by DIGITAL MEDIA EXECUTIVE | May 17, 2023 | Business & Policy
Joe Limbaugh and James Howe have been promoted, effective June 1, 2023, to executive vice president and chief commercial officer, respectively, and chief technology officer, respectively, at Motion Industries, Inc., a distributor of maintenance, repair, and operation...
by DIGITAL MEDIA EXECUTIVE | May 10, 2023 | News & Insights
Sukhvinder Singh Sukhu, the chief minister of India’s Himachal Pradesh state, recently said that his administration would rename the State Handicrafts and Handloom Corporation Ltd. as “Him-Craft.” An official statement states that the action is...
by DIGITAL MEDIA EXECUTIVE | May 4, 2023 | cotton industry, COTTON PRICE
As downstream industries look for less expensive raw materials, cotton yarn prices in North India have taken a negative turn. Due to weak demand, cotton yarn prices in the Ludhiana market have decreased by 1-2 rupees per kilogramme, whilst prices in the Delhi market...
by DIGITAL MEDIA EXECUTIVE | May 3, 2023 | Finance & Economy
Leading producer of home textiles Welspun India announced fiscal year 2023 (FY23) total sales of 82,151 million (about $1,068 million). In FY23, the company’s textile division generated 76,381 million in revenue. With an EBITDA margin of 10.6%, Welspun’s...
by DIGITAL MEDIA EXECUTIVE | May 2, 2023 | Corporate Update
Gross revenue for the FY 22 -23 is INR 2715 cr against the FY 21-22 is INR 2438 cr The fabric division sees revenue growth of 25% of YoY. Bhilwara, 0 May 2023:: Sangam India Ltd. (SIL), one of the foremost producers of PV-dyed yarn and seamless apparel, announced Q4...
