MARKET & ECONOMY
The company will add a large-scale Dan-Web airlaid production line to the Engineered Absorbent Materials (EAM) facility. This move will help the company become a leading airlaid nonwovens provider.
Myanmar’s political instability, lockdown in Cambodia and a the COVID-19 situation in India has prompted international retailers and brands to divert work orders to Bangladesh. Export earnings hit $3.13 billion in April.
The fund will be utilised for expanding the brands’ Direct-to-consumer (D2C) footprint domestically and internationally. The parent company of fashion brands, FabAlley and Indya, had raised Rs 207.4 million in June 2020.
Myntra is supporting its brand partners during the second wave of coronavirus. It is providing them Covid insurance and reimbursing the vaccination costs. It has relaxed order fulfilment turnaround time to 48 hours.
US consumers are shopping for summer wear, with relaxed COVID-19 restrictions and vaccinations. Analysts believe the pent-up demand for apparel and accessories will benefit Poshmark in the second quarter of 2021.
Prato, a Chinese community, located 11 miles north of Florence, has been the victim of coronavirus. Since the virus hit the community last year, it is believed that around 2,500 people, or 10% of the community has left.
With a spike in the number of COVID-19 cases, Karur textile manufacturers and exporters association has announced a complete shutdown of the manufacturing units starting May19.
Valmet will supply drying technology to Spinnova and Suzano’s textile fibre factory in Finland. The facility produces SPINNOVA fibre which creates 0% waste or side streams, 0% microplastics and has minimal CO2 emissions and water use.
The second wave of COVID-19 in India has adversely affected the textile sector in Tamil Nadu, especially when the export demand was high. Further, the textile hubs of Tiruppur and Coimbatore are worst affected.