14 August 2023, Mumbai

Prime Minister Narendra Modi inaugurated the 'Bhartiya Vastraevam ShilpKosh – A Repository of Textiles and Crafts' e-portal on National Handloom Day in New Delhi.

Unity in diversity: showcasing India's textiles

Developed by the National Institute of Fashion Technology (NIFT) in collaboration with the Ministry of Textiles, the portal unifies India's diverse clothing heritage. It provides a comprehensive platform for various clothing traditions to coexist.

Preserving cultural heritage

Addressing the audience, PM Modi highlighted the portal's role in preserving India's vibrant cultural heritage. He expressed satisfaction in seeing his concept of consolidating India's clothing diversity materialize.

Resource for exploration

The e-portal, a valuable resource, encompasses a craft atlas, cultural artifacts, and a visual museum. It is designed to aid individuals interested in understanding India's rich clothing traditions.

Khadi and village industries flourish

PM Modi shared the success of the khadi and village industries, boasting a turnover of over Rs 1.3 lakh crore, a substantial rise from Rs 30,000 crore a decade earlier.

Vocal for Local: A mass movement

He credited the 'Vocal for Local' ethos for this transformation, where citizens wholeheartedly embraced indigenous products, turning it into a mass movement.

Fostering cottage industries and handlooms

The Prime Minister elaborated on governmental initiatives fostering cottage industries and handlooms. These included the 'One District One Product' scheme, the Government e-Marketplace, the Mudra Yojana, and skill training programs.

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09 August 2023, Mumbai

BSL Limited, a pioneering company in the textile industry, is pleased to announce its ground-oriented financial results for the first quarter of fiscal year 2024 on 9th August 2023.

The company's unwavering commitment to excellence, innovation, and customer satisfaction has led to remarkable growth and solid financial performance during this period.

BSL Limited launched its first Cotton Spinning Unit of 30,000 spindles in Bhilwara, Rajasthan, India last quarter. This addition has augmented the company's revenue by 40 crores in the first quarter of this financial year.

Key Highlights:

1. BSL has shown remarkable and sharp growth in its Q1 YOY basis by increasing its sales to 160 crores which is an increase of 43% in sales

2. The company expects to grow at a fast pace with exponential increases in its revenue and EBITDA around the year.

Commenting on the results, Mr. Nivedan Churiwal, Managing Director of BSL Limited expressed his gratitude to all stakeholders for their unwavering support and trust in the company.

We are happy to announce the results for the first quarter of the fiscal year 2024. Our businesses showed significant growth in revenue of Rs 160.42 Cr. resulting in a 42.8% growth in revenue with EBITDA amounting to Rs 15.42 Cr. which was again an increase of 44.47 % on a YOY basis.

Our PBDT stands at Rs 7.97 Cr., up by 26.8 % on YOY basis with a PAT of Rs 2.27 Cr which is marginally lower than Q1 of the previous year.

BSL Ltd. remains confident in its ability to sustain this growth momentum throughout the fiscal year and looks forward to capitalizing on new opportunities that align with its strategic vision.”

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12 August 2023, Mumbai

Arvind Fashions, the parent company of renowned brands like US Polo and Calvin Klein in the Indian market, experienced a financial setback during the initial quarter of 2023.

Net loss widens

The company's net loss expanded to $1.98 million, a considerable increase from the $5.1 million loss recorded the previous year.

Revenue rises; However, there was a positive aspect as well, with a 4% rise in operational revenue, amounting to 9.57 billion rupees. The deceleration in consumer demand was primarily attributed to inflationary pressures, which led shoppers to be more cautious with their spending.

Mixed bag

Within the company's brand portfolio, its prominent labels such as US Polo and Tommy Hilfiger witnessed a modest 2% growth in revenue, while emerging brands like Calvin Klein and Sephora exhibited a more substantial increase of 15%. The segments associated with footwear and kidswear experienced remarkable year-on-year growth rates of 30% and 12% respectively.

Following the release of these financial results, Arvind Fashions observed a nearly 7% drop in its share value. The company expressed optimism, foreseeing a gradual improvement in demand as the next festive season approaches.

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11 August 2023, Mumbai

Techtextil India is the largest technical textiles, nonwovens, and composites expo in India. It is held every two years in Mumbai, and the 9th edition will be held from September 12-14, 2023 at the Jio World Convention Centre.

Outlines

The expo will feature over 160 brands from India, Germany, China, France, Korea, Taiwan, and Italy.

These brands will showcase the latest products and technologies in technical textiles, nonwovens, and composites.

The expo will also feature a dedicated pavilion for medical textiles, co-organized by The South India Textile Research Association (SITRA).

Latest Insights in Technical Textiles

In addition to the expo, Techtextil India will also host a number of knowledge programs. These programs will provide visitors with the latest insights into the technical textiles industry. Some of the topics that will be covered include:

• The latest trends in technical textiles
• The impact of new technologies on the technical textiles industry
• The growth opportunities in emerging sectors like medical textiles and geotextiles

Techtextil India is the perfect event for anyone who is involved in the technical textiles industry. Whether you are a manufacturer, a supplier, or a buyer, you will find valuable information and insights at this expo.

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17 August 2023, Mumbai

Textile major Donear Suitings has partnered with clothing retailer French Crown to launch a luxury suiting brand called "The Suited Saint."

Tie-Up

The partnership seeks to penetrate global markets, offering products priced at USD 500 and above. The brand's launch is scheduled for mid-September this year.

Donear has indicated to invest INR 30 crore over the upcoming 2-3 years, supplying fabric on a 90-day credit for manufacturing.

Contours

French Crown will oversee research, manufacturing, retail, and distribution, establishing a manufacturing facility and R&D unit in Surat.

International experts will guide the brand to cater to diverse trends and customer preferences.

French Crown

It currently garners 35% of revenue domestically and 65% internationally across 90+ countries, with the US contributing 60% of sales and the remainder from the UK, Canada, Australia, the Middle East, and others.

Vision; The company aims to reach INR 110 crore in revenue for FY24, building upon its annualized run rate of INR 100 crore.

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10 August 2023, Mumbai

Texvalley in Erode, the largest textile hub in South India, recently wrapped up the highly successful 3rd edition of TAG EXPO 2023.

The event, which has rapidly grown in stature since its inaugural edition in August 2022, attracted widespread attention from industry leaders, exhibitors, and buyers. The expo, held from July 24th to 26th, marked a significant milestone, showcasing the evolution of TAG EXPO into a global textile, accessories, and garments extravaganza.

Performance; With over 1200 pre-registered buyers and 150 exhibitors, the event demonstrated its rising influence in the industry.

TAG EXPO 2023's comprehensive media strategy, spanning trade magazines, digital platforms, influencer marketing, and traditional advertising, ensured extensive coverage.

This media blitz not only propelled the expo's success but also offered sponsors unparalleled exposure.

Well received

The expo's global appeal was accentuated by the participation of prominent international brands and buyers, creating a dynamic atmosphere for networking and collaboration. Emphasizing the event's forward-looking approach, TAG EXPO 2023 incorporated cutting-edge technology, including a dedicated app for post-event interactions, fostering enduring connections among participants.

TAG Expo's impact reverberated beyond the event's boundaries, bridging manufacturers and buyers, facilitating entrepreneurship opportunities, and contributing to the holistic growth of the textile and apparel sector.

Constructive platform

The expo's commitment to a seamless platform for innovation, trends, and business prospects positioned it as a vital player in shaping the industry's trajectory.

As preparations commence for the next edition in July 2024, TAG EXPO is set to expand its horizons, drawing an even broader international buyer base and solidifying its position as India's premier B2B exposition for the textile, accessories, and garment sector.

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