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A leading global home textiles manufacturer and a part of the $3.6 billion Welspun Group, Welspun Living Ltd (WLL) reported a 16 per cent rise in its consolidated revenue to Rs29,360 million during Q2, FY25.
In its primary segment, WLL's textile business grew by 15.3 per cent Y-o-Y to Rs27,128 million during Q2, FY25. The brand’s flooring business grew by 2.9 per cent Y-o-Y to 2,498 million during the quarter. Emerging divisions, including Global Brands, Domestic Consumer, Advanced Textiles, and Flooring, grew by 22 percent in Q2, with the domestic segment showing a robust 20 percent increase.
WLL’s consolidated EBITDA for Q2 increased by 7.5 per cent Y-o-Y to Rs4,206 million (~$50.02 million) with a 14.3 percent margin. The brand’s textile segment recorded an EBITDA rise of 13.8 per cent in the quarter totaling to Rs3,742 million while the flooring business’s EBITDA rose by 9.5 per cent Y-o-Y to Rs220 million.
WLL’s profit after tax (PAT) was increased by 2.2 per cent to Rs2,010 million in Q2, FY25 while its net debt expanded to Rs18,323 million by Q2 FY25 from Rs15,734 million in Sep’23.
Notably, WLL launched a 4.6 MW solar energy project at its Telangana facility this year, supporting its commitment to 100 percent renewable energy by 2030. The company continues to be driven by innovation which contributes 23 percent to total sales.
With its emerging business segments growing by 22 per cent, WLL continues to align its operations on ESG principles positioning the company as a global leader in sustainable practices, highlights BK Goenka, Chairman.
At the recently concluded 5th International Textile & Leather Exhibition (TEXPO 2024) held at the Karachi Expo Centre, Trade Development Authority of Pakistan (TDAP) clinched deals worth over $910 million.
Attractingaround 527 foreign buyers from 60 countries, this high-profile eventfeatured 272 exhibitors. The three-day exhibition included 1,969 B2B meetings facilitated by TDAP and resulted in signing of 10 MoUs, positioning TEXPO as a vital platform for Pakistan’s textile sector growth and international partnerships.
Focused on fostering ties with non-traditional markets, TEXPO 2024 featured discussions on sustainability and innovation. The exhibition held key sessions on topics such as ‘Green Threads:
Weaving Sustainability into Pakistan’s Textile and Leather Sectors,’ led by Omar Hameed, Economic Minister from Brussels and Bianca Seidel, Bianca Seidel Consultancy. Another notable session, ‘From Waste to Worth: Circular Innovations in Pakistan,’ featured insights from Boudewijn MoI, Director, Bedding House, and Usman Khan, Advisor, REMIT.
The event concluded with a session titled, ‘Smart Moves: Transforming SMEs into Green Powerhouses,’ that included presentations by Yulia Bazhenova from GIZ, Cem Altan of the International Apparel Federation, Tayyab Naveed from UMT, and Aamir Chottani from Chottani Industries.
With strong international buyer interest and TDAP’s commitment to sustainable practices, TEXPO 2024 marks a significant milestone for Pakistan, bolstering its textile and leather sectors on the global stage.
In a meeting to monitor ongoing preparations for Bharat Tex 2025, Sardor Rustamboyev, Uzbekistan’s Ambassador to India and Pabitra Margherita, Union Minister of State for External Affairs and Textiles, India, discussed on the prospects to boost Uzbekistan's textile exports to India.
The conversation between the two leaders focused on strengthening collaboration in the textile sector and increasing the presence of Uzbek knitwear and other textile goods in India. Rustamboyev underscored Uzbekistan's recent advancements in textile and light industry reforms, emphasising the integration of modern technologies to manufacture high-quality, competitive products for the global market. The meeting aimed to facilitate business negotiations between industry leaders from both countries to foster deeper partnerships.
The two parties also reviewed Uzbekistan’s plans for Bharat Tex 2025, scheduled to be held in Feb’25 in India. The exhibition will include a dedicated showcase of Uzbekistan’s textile and light industry capabilities.
Bangladesh's home textile sector is struggling to regain lost work orders, primarily due to a significant shift of business to Pakistan over the past two years. This change followed a dramatic 150 per cent increase in gas prices in Bangladesh, which led many local exporters to halt new orders due to soaring production costs. In contrast, Pakistan benefits from abundant cotton supplies and lower production costs, making it a more attractive option for global importers.
Recent data highlights Pakistan's competitive edge, with its textile exports reaching a 26-month high of $1.64 billion in August 2023, up 13 per cent year-on-year. Factors contributing to this growth include government policies and the country's strategic position amidst political instability in Bangladesh and sanctions on China.
In contrast, Bangladesh's home textile exports fell by 2.05 per cent to $851.01 million in the fiscal year 2023-24. Once exceeding $1 billion in FY21, exports suffered a decline due to rising gas prices and ongoing labor unrest, limiting local mills capacity. Currently, Bangladesh's monthly export figures have dropped from the planned $30 million to $25 million, illustrating the challenges faced by the industry as it attempts to recover.
Sci-Lume Labs has introduced Bylon, an innovative, affordable material made from renewable agricultural waste, designed to close the sustainability gap in fashion. The material is not only scalable and 100 per cent recyclable but also promotes accessibility to eco-friendly clothing. This achievement has earned Sci-Lume Labs the 2024 ITMF Start-up Award, recognizing their impactful contribution to sustainable fashion.
Christian Schindler, ITMF’s Director General, praised the partnership between established companies and start-ups like Sci-Lume Labs, emphasizing how collaboration helps scale innovation in the textile industry. Through ITMF membership, Sci-Lume Labs gains access to essential data and a global network across the textile value chain, enhancing its industry insight.
CEO Oliver Shafaat noted that membership with ITMF is instrumental for understanding industry dynamics and fostering global collaboration. He emphasized that bridging communication between global stakeholders is crucial for developing sustainable, circular solutions. Schindler highlighted the ITMF platform’s role in supporting the transition to a circular textile economy, underscoring Sci-Lume’s commitment to an eco-conscious future.
CEM Altan, President, International Apparel Federation (IAF), urges leaders in Pakistan’s textile and apparel sector to expandtheir export base by targeting emerging and high-end markets such as Russia, Central Asia, and the Middle East. He also advises them to focus onvalue-added products such as garments, fast fashion, sportswear, and medical wear, instead of low-cost textile exports.
Presenting a strategic advantage to Pakistan, political challenges in Bangladesh are impacting its garment exports, notes Altan. Pakistan can become an attractive destination for foreign direct investment by offering global fashion brands both affordability and alignment with environmental, social, and governance (ESG) standards. Local manufacturers should adopt renewable energy sources and eco-friendly practices to cut production costs and meet international compliance requirements, Altan advises.
To enhance global competitiveness, Altan recommends digitising supply chains with advanced tools like ERP systems, blockchain for transparency, and IoT for more effective production planning. He also urges Pakistani brands to embrace e-commerce by utilising global platforms like Amazon, Alibaba, and Etsy to expand international reach.
Ijaz Khokar, Former Chairman, Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA), urges the government to create a five-year ‘Textile Destination of the World’ policy to drive export growth, innovation, human capital development, SME support, and financial access. The industry should also conduct quarterly reviews to track progress, he adds.
Exporters see significant potential in Russia, where Pakistani products could reach North American-level export values if formal banking channels are established. In addition to garments, leather goods and fashion wear could also appeal strongly to Russian consumers. In recent weeks, Pakistani exporters have seen increased orders from South Asian markets, including redirected orders from Bangladesh.
Looking forward, PRGMEA aims to host the World Fashion Convention in Pakistan again in 2026. Khokaropines, this convention could deliver extensive benefits to Pakistan’s textile sector. He urges the government and private sector to collaboratively establish research centers, textile clusters, packaging facilities, and fashion design institutes to further strengthen the country’s garment exports capacity. He also recommends launching a TEXPO Pakistan event in Dubai, inspired by the success of TEXPO, to attract regional buyers.
In a significant stride towards eco-conscious fashion, Liva Reviva and Indian label Ka-Sha have collaborated on ‘Roz’, a new line focused on sustainable, everyday wear. Known for its innovative use of renewable plant-based fibers, Liva Reviva has teamed up with Ka-Sha to deliver a collection that combines style, comfort, and sustainability under Ka-Sha’s fresh brand ‘Roz’.
Meaning ‘everyday’ in Hindi, ‘Roz’ represents a commitment to creating versatile, comfortable clothing for daily use while embodying sustainability. This collection stands out for its innovative fabric blend that includes Liva’s Reviva-M circular yarn produced from repurposed textile waste combined with hand woven kala cotton by artisans from Gujarat. This fusion of sustainable materials with traditional craftsmanship not only ensures durability but also aligns with the modern consumer’s demand for responsible fashion.
‘Roz’ offers elevated basics that prioritize mindful design without sacrificing style or comfort. Each piece showcases Ka-Sha’s dedication to craftsmanship, with details that bring refinement to functional clothing. From casual outings to workwear, ‘Roz’ blends practicality with environmental consciousness, aiming to appeal to consumers who value sustainability and quality.
Sree Charan, VP Marketing and Global Head of Brands at Birla Cellulose, Aditya Birla Group, expressed pride in this collaboration, highlighting Liva Reviva’s role in reducing textile waste while delivering premium-feel fabrics that support eco-conscious choices. Karishma Shahani Khan, Founder of Ka-Sha, described ‘Roz’ as more than a fashion lineit is a philosophy of simplicity in daily dressing coupled with the principles of conscious consumerism.
The collection has received early praise for its ethical production and versatile appeal, resonating with consumers seeking both style and sustainability. The partnership underscores a growing trend in the fashion industry where style and responsibility can coexist, setting a benchmark for other brands to follow. ‘Roz’ exemplifies how sustainable fashion can make a positive impact, ensuring consumers not only look good but contribute to doing good for the planet.
Parent company of popular Australian and New Zealand retail brands like Millers, Rivers, Katies, Noni B, and Autograph, Mosaic Brands has filed for bankruptcy. With around 763 stores and thousands of employees across both countries, the companyhas shifted its focus to expanding big-box Rivers megastores in regional areas of Australia.
A month prior to this announcement, Mosaic had opted to close its Rockmans, Autograph, Crossroads, W Lane, and BeMe brands, to concentrate more on its Millers, Noni B, Rivers, and Katies brands as well as a dedicated online marketplace. This strategic decision is expected to result in the numerous store closures and the loss of hundreds of jobs. As of Aug 2023, Mosaic operated 150 Rockmans stores, 49 Autograph stores, and 32 W.Lane stores, with BeMe and Crossroads exclusively online.
Mosaic has appointed Vaughan Strawbridge, Kathryn Evans, Kate Warwick, and David McGrath from FTI Consulting as administrators to oversee the insolvency process. Additionally, Mosaic’s senior secured lender has enlisted KPMG as receivers and managers to collaborate with FTI. The control of Mosaic will now transfer to FTI Consulting, which will evaluate the company's finances and determine whether restructuring is feasible to allow continued operations or if liquidation is necessary.
In Feb’04, Mosaic’s net profit rose by 38 per cent Q-o-Q rise to $5.4 million. However, the company registered a $66 million loss in FY22-23. This included $39 million in debt and $45 million in lease obligations. Mosaic’s annual report had cautioned that these financial burdens may cast significant doubt on the group’s ability to continue as a going concern. Nonetheless, the board of directors had previously expressed confidence in Mosaic’s ability to meet its financial obligations.
In northwest China’s Uygur Autonomous Region, advancements in breeding high-quality cotton varieties, alongside increased digitalisation and mechanisation in farming practices, have greatly enhanced cotton output and quality. As one of the country’s top cotton-producing areas, Xinjiang plays a vital role in supplying premium raw materials to the textile and apparel industries.
On October 9, Li Xueyuan, Xinjiang's lead expert in cotton industry technology, announced a new national record in calculated per-unit cotton yield at a high-yield demonstration field in Jinghe County, Bortala Mongolian Autonomous Prefecture. Over recent years, Li and his team have independently developed more than 20 high-yield cotton varieties. Initially, the team focused only on yield increases, Li noted. Now, it aims for early maturity, premium quality, disease resistance, and suitability for mechanised harvesting. Most of these goals have now been met.
In support of these advances, Xinjiang's Department of Agriculture and Rural Affairs has implemented a comprehensive cotton production technology system with designated demonstration fields across major cotton-growing counties to encourage uniform development.
Digital farming is now a cornerstone of cotton cultivation in Xinjiang, enabling farmers to manage field practices, including irrigation and fertilisation, directly from their mobile phones. Dong Cheng long, a farmer in Jinghe County, shared how his robust cotton plants now grow densely with well-formed bolls, allowing him to oversee nearly 500 mu (around 33.3 hectare) of land by himself. Mechanised harvesters further streamline his work, with each cotton picker able to process an average of 500 mu per day—equivalent to the labor of 2,000 workers.
Navigating macroeconomic pressures impacting families with young children, Carter’s Inc remains committed to strengthening its brand presence and retail footprint, according to Michael D Casey, CEO and Chairman.
Aided by a $40 million investment in price reductions and an additional $10 million towards brand marketing in H2, FY24, the retailer’s sales in the US exceeded expectations, notes Casey. The investments also helped itboost in-store and online sales in Q3, FY24, he adds.
Despite lower wholesale sales to department and off-price stores compared to last year, Carter’s saw a positive lift from customers consolidating purchases at major retailers like Target, Walmart, and Amazon. International sales performed as expected.
The company’s best-selling segment, The Baby Apparel, grew by 2 percent and made up over half of total apparel sales, while baby and toddler apparel combined contributed more than 80 percent. In contrast, sales for children aged 4-10 decreased by double digits. Within its pricing categories, Carter’s saw strong growth in both low and premium tiers, particularly with its Little Planet, PurelySoft, and Baby B’gosh collections, which increased by 50 percent.
Holiday shopping has started to improve, spurred by colder weather, and strategic price reductions on staple items helped Carter’s maintain comparable U.S. retail unit volumes to last year.
Reiterating Carter’s commitment to brick-and-mortar, Casey emphasised, nearly 70 percent of children’s apparel is bought in-store, which also drives e-commerce sales. The company aims to open 250 US stores by 2027, projected to add $250 million in sales. In Q3, FY24, the brand’s omnichannel sales grew by 12 percent, with stores supporting 38 percent of digital orders. Carter’s also opened 40 high-margin stores during the quarter while closing 30 low-margin ones, with 98 percent of stores cash-flow positive.
The brand’s net income in Q3, FY24 declined by 11.8 percent to $58.3 million while net sales contracted by 4.2 percent to $758.5 million. For the full year, Carter’s projects, its EPS will range between $4.70 and $5.15 while net sales will grow to $2.79 billion-$2.83 billion, driven by partnerships with Walmart, Target, and Amazon, where unit volumes rose by 15 percent year-to-date.
