Category: Domestic

US apparel industry grows 3 per cent in 2016

Apparel sales across women, men and children grew by 3 per cent in the US in 2016, to reach $218.7 bn, according to a recent report. Changing consumer needs and an evolving retail marketplace were the drivers behind the apparel industry’s overall sales performance last year. The industry had positive overall performance with growth in most categories. The apparel industry of the US has struggled to exceed 3 per cent sales growth since 2013, as significant gains in select consumer and retail segments were offset by declines in others, says a report by The NPD Group, a leading global...

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Future Group to grow fashion business by 30 per cent

The Kishore Biyani led Future Group plans to grow its fashion business across all its brands by 30 per cent each year. The fashion business, which currently makes up for 45 per cent of group sales, is also expected to generate revenues of RS. 10,000 cr and would also be selling around 80 cr pieces of garments by end of fiscal 2107-18. Kishore Biyani as also adding that they plan to set up 300 FBB stores across the country over the next few years. Kishore Biyani was speaking at the launch of the first standalone FBB store in Kolkata...

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Rupa gets exclusive marketing rights to fruit of loom

Indian innerwear manufacturer and marketer Rupa & Company has inked an exclusive licensing deal with US based Fruit of the Loom Inc, a subsidiary of Berkshire Hathaway Company. Under the terms of the agreement, Rupa will exclusively manufacture, advertise and market Fruit of the Loom innerwear and outerwear products for both sexes in India. Rupa & Company Chairman PR Agarwala as saying that this will be the second international brand to be manufactured and marketed by Rupa after FCUK. The licensing deal has been signed by Oban Fashions, a subsidiary of Rupa and had earlier in 2016, secured an...

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Surat textile traders welcome CBEC decision to keep saree out of made-ups category

A recent Central Board of Excise and Customs (CBEC) decision to keep sarees out of the category of made-ups has been welcomed by textile traders in Surat, which is India’s largest manmade fabric (MMF) wholesale market. On March 15, the CBEC issued a circular to classify sarees under Chapter 50, 52 and 54 of the Central Excise Tariff Act (CETA), 1985. “The CBEC circular on keeping sarees out of the ambit of central excise duty levy has come as a big relief for textile traders,” Federation of Surat Textile Traders Association (FOSTTA) President Manoj Agarwal said. “We had strongly...

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