The coronavirus pandemic affected all industries, including weavers and artisans comprising Anantapur district’s largest workforce. The apparel and textile parks being developed by the Andhra Pradesh government are incomplete.
Browsing: Industry Update
Listed textile and garment makers in Bangladesh are facing low profits and sales due to the ongoing COVID-19 pandemic. However, spinners and yarn makers are performing well by taking advantage of the price hike of yarn.
Many PPE manufacturers in India have shared concerns regarding the safety protocols being followed in the making of PPE kits. Many manufacturers either don’t have BIS certification or lack testing labs on their premises.
As per analysts, many Japanese apparel brands are banning Xinjiang cotton, following the suit of many other well-known brands. This action will make them lose out in the Chinese market.
As per Indian Ratings on Friday, it is expected that home textiles exporters will see a growth in the top and bottom lines on account of sustained demand. Stability in raw material prices will also help.
Elgi Equipments Ltd reported an annual profit after tax (PAT) of Rs 1.02 billion and sales of Rs 19.24 billion for the year ended March 31, 2021 and expects to perform reasonably well in 2021-22.
BlissClub, a Mumbai-based women’s activewear brand, has managed to raise $ 2.25 million through seed funding led by Elevation Capital. The proceeds will be used for strengthening the team and in product development.