Apparels

Oban Fashions Pvt Ltd, a subsidiary of Rupa & Co Ltd, has been admitted under the Corporate Insolvency Resolution Process by the Mumbai bankruptcy court, following an application by its operational creditor, Sunrise Knitting Mills Pvt Ltd. The National Company Law Tribunal appointed Sanjay Ramdas Mahajan as the Interim Resolution Professional, with outstanding dues amounting to Rs 1.57 crore.

Epic Group and Creative Group have partnered to revolutionise India’s apparel sector, signing a non-binding MOU for a joint venture.
The Rs 500 crore (USD 60 million) investment will create 10,000 jobs, focusing on innovation, sustainability, and community development.
The collaboration aims to set industry benchmarks, enhance operational efficiency, and drive significant economic growth.

Fast Retailing, Uniqlo’s parent company, reported a 7.4% rise in operating profit for the first quarter, reaching 157.6 billion yen. Strong sales in Japan, driven by a tourism boom and cold weather, were offset by flat sales in China due to warm temperatures. The company plans to increase wages by up to 11% to retain employees.

ACON Investments acquired a controlling stake in True Religion, a premium lifestyle and apparel brand.
Partnering with SB360 Capital, ACON aims to enhance True Religion’s digital, retail, and international growth.
The brand will remain headquartered in Gardena, California, continuing its legacy of quality craftsmanship and innovation in denim and lifestyle products.

From Jan-Sept 2024, the UK imported $161.551 million worth of apparel from Indonesia, marking a 15 per cent decrease compared to the same period in 2023.
Despite this significant trade volume, Indonesia holds a minor 1.15 per cent share in the UK’s apparel market, ranking twelfth among suppliers.
Women’s garments dominate these imports, while men’s and unisex categories also contribute notably.

India-EU trade deal talks are set to begin in 2025, including a potential 0 per cent tariff on Indian textiles.
This is poised to disrupt global apparel supply chains, with India gaining a competitive edge over Bangladesh, China and Türkiye.
Key products affected include cotton garments and T-shirts.
The move is expected to boost Indian textiles exports while reducing reliance on tariff-heavy markets.

Titan Company Ltd opened its first exclusive IRTH store in Chennai. The company plans to achieve Rs 1,000 crore revenue by FY2027 from IRTH and Fastrack bags. They aim to open 100 stores nationwide by FY2027. IRTH bags are designed for women, focusing on premium quality at affordable prices. The brand is expanding into South India.

Titan Company Ltd opened its first exclusive IRTH store in Chennai. The company plans to achieve Rs 1,000 crore revenue by FY2027 from IRTH and Fastrack bags. They aim to open 100 stores nationwide by FY2027. IRTH bags are designed for women, focusing on premium quality at affordable prices. The brand is expanding into South India.

Bangladesh’s ministry of labour and employment has issued a gazette notification regarding the annual hike in the increment of wages for the domestic RMG sector.
The government recommended a rise of 9 per cent in the annual increment of the garment industry by adding another 4 per cent to the existing 5 per cent.
The 5-per cent annual increment determined by the Minimum Wage Board will continue.

Haiti’s garment manufacturing industry, which employed 62,000 workers in December 2021, has lost 64 per cent of its workforce in three years, Georges Sassine, ex-president of the Association of Industries of Haiti has said.
Apart from the security crisis, there is uncertainty regarding the renewal of trade preferences for Haiti under the HOPE/HELP Act.
The agreements will expire in September 2025.