Fashion conglomerate Shandong Ruyi has brushed aside a sale of textile maker Lycra proposed by Lycra's creditors and is instead looking to publicly float the business, two people with direct knowledge told Reuters.
What to do with China's abundant stock of coal? Chemicals giant Hengli plans to make clothes out of it. The firm has surprised observers by getting into mining with a $20bn project to convert coal into polyester yarn.
Mukesh Ambani’s Reliance Industries Ltd will pay between 240bn and 270bn rupees ($3.2-$3.6bn) to buy the Indian retail chains owned by Future Group, Mint newspaper reported on Tuesday, citing two sources.
Welspun India reported a 66 percent decline in consolidated net profit to Rs 54 crore ($7.3 million) for the quarter ended June, as against a net profit of Rs 156 crore it posted in the year-ago period.
Bombay Dyeing reported a consolidated net loss Rs 129 crore ($17.3 million) for the first quarter ended June 30, as compared to a consolidated net profit of Rs 28 crore it posted in the corresponding quarter last year.
Sachin and Babi Ahluwalia, the founders of womenswear brand Sachin & Babi, are launching a new brand ‘The Good Kloth Company’, to produce personal protective equipment and loungewear with new textile technology.