The report added that Indian cotton prices are currently lower than global prices, helping cotton spinners grow their volumes. In the last quarter of the fiscal year 2024 (4QFY24), the sector's revenue grew by about 8 per cent compared to the previous year. However, yarn prices fell by 5 per cent, which limited the overall growth. With cotton prices stabilising, the value growth is expected to align with volume growth soon.
According to the report, the mid-value brands segment will see the maximum proliferation of brands, leveraging low-entry barriers and experimental consumer behaviour to drive growth.Further, brands with unique and value-adding positioning are expected to appeal strongly to customers.
Prior to joining the Benetton Group, Sforza worked in upper management of large corporations such as Astaldi, Poste and Ilva Group, according to a statement.
Globally, everyone is now demanding more and more sustainable product and services. There is a big surge in terms of sustainability as a mainstream theme, not as a sideline. India is one of the largest textile manufacturers and at the same time it is one of the largest domestic market consumption for textile. With respect to all these things, there is a lot of demand for green jobs in this sector.
On Thursday, H&M said external factors - such as material costs and currency moves - were making the 10% margin goal more difficult to reach this year, and that it needed to ramp up sales growth to get there.
H&M posted on Thursday a 52% jump in net profit for the second quarter as the world's second biggest fashion retailer pressed on with efforts to control costs. Sales rose by three percent to 59.6 billion kronor at the world's second biggest fashion retailer after Zara owner Inditex.
Textiles Minister Giriraj Singh announced that the government has sanctioned a production-linked incentive (PLI) scheme exceeding Rs 10,000 crore for the textiles industry, with plans under consideration to extend it to the garments sector. Additionally, he highlighted that the ministry is developing a strategy to surpass China in the textile sector.
Zyod will use the funds raised to expand its customer base to over 40 countries by the end of the fiscal year from 18 countries now, while going deeper into some current markets like the US, the UK, the Middle East Asia and Japan co-founder of Zyod, Ankit Jaipuria said. The firm will also use the funds to expand the categories it sells in and strengthen its tech capabilities, to better predict supply and production gaps as well as design trends.
Through INTUNE, Shoppers Stop aims to capitalise on mass premium opportunities, disrupting India's value fashion landscape, according to the latest annual report of the K Raheja Corp group firm. "We are targeting 60 new stores in FY2024-25 backed by strategic investments in merchandising, store operations, and customer analytics capabilities," the company said.
The Chinese-founded company, which was valued at $66 billion in a fundraising round last year, had started engaging with its financial and legal advisors to explore a listing on the London Stock Exchange early this year, sources told Reuters in May.
Gokaldas Exports Ltd (GEX), based in Bengaluru, has announced a strategic partnership with BRFL Textiles, a fabric processing company located in Tarapur, Maharashtra. This collaboration involves GEX making an initial investment of Rs 50 crore in BRFL through Optionally Convertible Debentures (OCDs), with a potential total investment of up to Rs 300 crore in phases. The agreement may lead to a merger between the two entities within a year.
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