05 September 2023, Mumbai

IN BRIEF

3 textile and garment exhibitions to be held in Dhaka from Sep 13-16

The exhibitions will feature over 1,600 manufacturers from 37 countries and provide a platform for buyers and sellers to explore cutting-edge textile products and solutions.

Latest Textile Events

04 September 2023, Mumbai

IN BRIEF

The 8th edition of CENTRESTAGE, a fashion and lifestyle event organized by the Hong Kong Trade Development Council, will return to Hong Kong from 6-9 September.

The event will feature over 200 brands from 17 countries and regions, showcasing the latest spring/summer 2024 collections.

The event will also feature a gala show featuring Hong Kong and Japanese brands REDEMPTIVE and FETICO and a runway show featuring four local brands that have participated in international fashion weeks.

Latest Textile Events

05 September 2023, Mumbai

IN BRIEF

Leading e-commerce company Flipkart will create more than 100,000 seasonal jobs in its supply chain network in preparation for the upcoming festive season and its "The Big Billion Days" (TBBD) sale.

The expansion will encompass fulfillment centers, sortation centers, and delivery hubs located throughout the country. The positions will cater to a diverse range of individuals, including local kirana delivery partners, women, and individuals with disabilities.

Latest Textile Events

02 September 2023, Mumbai

IN BRIEF

Lenders to Bombay Rayon Fashions have rejected all the resolution plans received for the textile manufacturer's assets. The company has admitted liabilities of ₹7,234 crore, including ₹6,690 crore financial dues.

Over a dozen companies, including Lalbhai Group-promoted Arvind, had shown interest in acquiring the company through the insolvency resolution process. However, the lenders were not satisfied with the proposals received.

The company's resolution professional will now need to file a fresh report with the National Company Law Tribunal (NCLT). The NCLT will then decide whether to initiate the liquidation process of the company.

Latest Textile Events

06 September 2023, Mumbai

IN BRIEF

Reliance Retail Ventures is funneling INR 300 crore into its recently established fast-moving consumer goods (FMCG) entity, Reliance Consumer Products (RCPL), using optionally fully convertible debentures.

It marks the initial substantial capital injection by the company's founders, with the goal of nationwide FMCG expansion. In its previous fiscal report, RCPL had already infused INR 277 crore into the enterprise.

Latest Textile Events

04 September 2023, Mumbai

IN BRIEF

China’s economy grew by 6.3% in Q2, higher than Q1’s 4.5% but lower than expected 7.3%. H1 growth was 5.5%, matching the annual target of around 5%.

Beijing avoided large stimulus despite rising local debt. Retail sales slowed down while industrial output picked up in June.

Latest Textile Events

02 September 2023, Mumbai

IN BRIEF

Aditya Birla Fashion and Retail (ABFRL) plans to raise INR 750 crore through private placement of debt bonds, starting September 4.

The bonds will be listed, unsecured, rated, redeemable, and non-convertible.

Latest Textile Events

06 September 2023, Mumbai

IN BRIEF

Furniture e, a furniture e-commerce company, has secured an impressive $23 million in funding over the last three months. The funding comes from a mix of loyal existing shareholders, including institutional investors and family offices.

The company will use the funds to enhance its ability to meet the ever-changing demands of its rapidly expanding customer base, which now exceeds 10 million users.

This will be achieved through the establishment of a robust omnichannel presence, an efficient supply chain, and a strong focus on technology-driven innovation.

Latest Textile Events

04 September 2023, Mumbai

IN BRIEF

The European Union's apparel imports from the world declined by 9.22% in the first six months of 2023. The decline was most pronounced in the value of apparel imports from Bangladesh, China, and Turkey.

The unit price of EU apparel imports increased due to inflation and the increasing value of the euro.

Latest Textile Events

02 September 2023, Mumbai

IN BRIEF

Reliance Retail Ventures is in advanced talks with global investors to secure $2.5 billion in funding by September. This is part of the company's $3.5 billion fundraising target, with $1 billion already pledged by Qatar Investment Authority (QIA) last month.

Reliance Retail has confirmed that it is evaluating various opportunities, amid media speculation about a potential stock market debut.

Latest Textile Events