UPDATES On The News Beat |
REST OF THE WORLD
New textile factory to come up in Uzbekistan by 2018 end
A modern $ 92-million textile unit will be built in Uzbekistan by the Namangan Sharbati joint venture , the National Bank for Foreign Economic Activity and Ozbekyengilsanoat joint stock company by late 2018 . The factory will annually produce 10,000 tonnes each of polyester fibre and yarn , 20 million meters of mixed fabrics , and 7,000 tonnes of blended linen .
The factory will be exempt from paying corporate income tax , value added tax and mandatory contributions to the Republican Road Fund under the Uzbek finance ministry till January 1 , 2022 , Uzbek media reported .
APPAREL
Turkish apparel brand LCW makes Iran production hub
|
Pic courtesy : LC Waikiki
Turkish firm LC Waikiki ( LCW ) is the first major foreign apparel manufacturer to officially start cooperation with Iranian garment players . LCW negotiated with Iranian authorities for eight months and surveyed over 70 units . The first phase will see LCW place orders with select Iranian apparel makers worth around € 20 million in the next year and a half .
Shortlisted Iranian company Ronak Jean has received LCW orders and has been making clothes for the Turkish brand labeled ‘ Made in Iran ’ for the past few months , according to Iranian media reports . The initiative is expected to create about 5,000 jobs in Iran .
Polygiene partners with Andar for women ’ s activewear
Pic courtesy : Polygiene
Polygiene Permanent Odour Control Technology , with its Stay Fresh functionality , is all set to debut in
|
women ’ s activewear in partnership with Andar in the Fall of 2017 . Andar is Korea ’ s leading brand of women ’ s activewear in athleisure segment in practices such as yoga , pilates and zumba .
More and more people are getting into the habit of training more often and this is fueling the fast growth of sportswear brands such as Andar in Korea . This new alliance combines Polygiene ’ s expertise in odour control technology with Andar ’ s cutting edge designs and high performance fabrics in line with this athleisure trend in South Korea .
Jos A Bank introduces clothes with 37.5 technology
Jos A Bank , a subsidiary of Tailored Brands , has introduced clothes for the modern traveller under the TravelTech
|
Pic courtesy : Jos A Bank
label featuring breakthrough 37.5 technology which helps maintain the optimum microclimate of the body .
The product from the hard-working TravelTech collection uses the 37.5 fabric technology developed by Dr . Gregory Haggquist , founder and chief technology officer at Cocona , including the patented processes that keep particles active throughout the manufacturing process to improve the performance of yarn , fabrics and film . The yarn used in TravelTech garments works from the lining to the mesh to the exterior fabric , which helps maintain the optimum microclimate for body .
CenterGate Capital ’ s affiliate invests in TSC Apparel
CenterGate Capital , an Austin-based private equity investment firm , has announced that its affiliate has invested in TSC Apparel . Headquartered in Cincinnati , Ohio , TSC is a B2B distributor of imprintable activewear and accessories , stocking and sourcing thousands of styles of tees , fleeces , headwear , sport shirts , outerwear , and accessories . TSC services its customers from its nationwide footprint
|
of strategically located regional distribution centres . CEO Bob Winget , who has been with TSC since 2001 , will continue to lead the company .
Danish firm Spectre opens garment factory in Vietnam
Denmark ’ s Spectre Garment Technologies Company Ltd has recently opened a factory to produce outdoor sportswear in the Hoa Xa Industrial Zone in the northern Vietnamese province of Nam Dinh . The factory covers 7,000 square metres with a total investment of over $ 5 million . The factory will be expanded next year with an additional investment of around $ 1 million .
International Apparel Federation opens Pakistan office
The International Apparel Federation ( IAF ) opened its first regional office recently at the Pakistan Readymade Garments Manufacturers & Exporters Association ( PRGMEA ) House in Sialkot . It will extend support to Pakistani apparel firms in exports , capacity building and compliance . This pilot initiative may lead to similar regional offices in other countries .
FASHION
US company Coach changes name to Tapestry
Coach Inc ., a New York-based house of modern luxury accessories and lifestyle brands , has changed its name to Tapestry Inc . from October 31 . Its portfolio includes Coach , kate spade new york and Stuart Weitzman . The name Tapestry speaks to creativity , craftsmanship , authenticity and inclusivity on a shared platform and values , said CEO Victor Luis .
The new name embodies the company ’ s creative brand-led and consumer-focused business , while also representing the deep heritage of the group , a press release from the company said .
Pic courtesy : Coach
|