Arvind Fashions Ltd (AFL) reported a consolidated net loss of Rs 213 crore ($29.1 million) for the first quarter ended June 30, 2020, as against a net loss of Rs 95 crore it had reported in the year-ago period.
The owner of Tommy Hilfiger and Calvin Klein has revealed that it is closing its heritage brands retail business as part of efforts to streamline its operations in North America in the wake of the Covid-19 pandemic.
Fashion retailer Arvind Fashions plans to raise Rs 400 crore ($52.9 million) capital, via rights issue to stabilise its operations and cash flow, due to the disruptions caused by the Covid-19 pandemic.
Textiles manufacturer Arvind Limited has developed a textile which it says has the potential to destroy coronaviruses when droplets containing viral load land on it. It plans to use this textile for clothing.