In the second quarter (October-December) of the current fiscal year, the local value addition in Bangladesh’s readymade garment (RMG) sector increased by 3.66 percentage points compared to the corresponding quarter of the previous fiscal year.
Despite this, the sector experienced a 7.46 per cent decline in export earnings during the same period, alongside a 17.93 per cent reduction in the cost of raw material imports, as per a quarterly review report by the Bangladesh Bank, the country’s central bank.
The report disclosed that the import value of raw materials for garments totaled $3.37 billion in October-December of FY24, while RMG…
Rhone bolsters its leadership team with the appointment of Athleta and CorePower Yoga veterans Tess Roering and ESPN Chairman Jimmy Pitaro
STAMFORD, Conn., March 25, 2024 /PRNewswire/ — Rhonethe performance lifestyle brand dedicated to championing mental fitness, today announced the appointment of Tess Roeringwho previously held executive leadership roles at CorePower Yoga and Athleta, and Jimmy PitaroESPN Chairman, to its board of directors.
Roering and Pitaro join Nate CheckettsCEO & Co-Founder of Rhone; Dave CheckettsManaging Partner of Checketts Partners Investment Fund; Jon OwsleyManaging Partner at L Catterton; Simon Hill-Norton, Investor & Co-Founder of Sweaty Betty; and Carras HolmsteadInvestment Partner at…
Sue Wong Models Anna Gupta & Jazzika Kile; Honoree, Fashion Designer Sue Wong; Chairwoman Yu-Sai Kan. | Photo by Sheri Determan
Christian Chensvold, Associate Editor | Wednesday, March 6, 2024
Photo by Sheri Determan
Visionary California designer Sue Wong was recently honored at the third annual “Outstanding Asian American Women Who Dared” charity event, held Feb. 27 at the Taglyan Complex in Los Angeles. The event was co-presented by the China Institute in America and the Yue-Sai Kan One World Foundation and chaired by Yue-Sai Kan, celebrated by People magazine as “the most famous woman in China.”
Wong’s speech was…
Christian Chensvold, Associate Editor | Thursday, February 22, 2024
Few things are as rewarding in life as a mutually beneficial partnership, and a new one has just emerged in the Lone Star State, which clearly is not so lonely after all.
The Textile Showthe boutique trade event for the textile industry, and the Dallas Market Center have announced a new strategic partnership via the creation of The Textile Show Dallas, scheduled to take place Oct. 22–24 at the DMC.
The exclusive collaboration marks a significant milestone, bringing together two influential entities dedicated to fostering innovation, networking and growth within the…
Salt Life Group was a $10.3m net sales increase compared to the prior first quarter results while net sales in the Delta Group decreased to $69.6m. Credit: Shutterstock
Chairman and CEO of Delta Apparel Bob Humphreys mentioned that the company’s efforts to restructure, which involved substantial workforce downsizing and withdrawing from operations in Mexico, have resulted in $20m in labor savings annually.
Despite reducing its overall debt by 22% and inventory levels by 24% year-over-year, the company encountered slow demand in its activewear division and inventory constraints.
Humphreys explained that while many Delta Apparel customers have de-stocked to more normalized…
da-kuk
The apparel and footwear sectors are active after both Nike (NYSE:NKE) and Lululemon Athletica (NASDAQ:LULU) reported earnings late on Thursday. Meanwhile Nike (NKE) warned of a short-term revenue dip as the company shifted its focus to innovation, Lululemon’s (LULU) revenue and profit guidance warning was even more stark. Both athletic apparel giants warned on sluggish demand trends in certain categories.
Stocks react negatively to the earnings double-whammy including Allbirds (BIRD) -3.3%Deckers Outdoor (DECK) -2.5%On Holding AG (ONON) -2.3%Wolverine World Wide (WWW) -2.4%Under Armor (UAA) -2.2%Skechers (SKX) -1.8%and Birkenstock (BIRK) -1.5%.
During Nike’s earnings call, management underlined a commitment to…
HOUSTON—The message on the signs at the recycling drop-off site here was clear, and warmly welcomed by area residents who visited on a recent autumn Saturday to stuff bags of plastic waste into large green metal containers.
“All plastic, all numbers, all symbols,” proclaims one sign at the recycling site in Houston’s suburban Kingwood community, referring to the seven standard types of plastics, commonly identified on a plastic product by a number inside a “chasing arrows” icon. “Bag it and bring it,” reads another.
Normally, recycling programs limit what kinds of plastic they accept, ruling out types that are difficult…
Adele has stunned in a new promo video for Saturday Night Live (SNL)with fans calling the star “glamorous”, “iconic” and “a God”.
In a video released on Saturday, the singer was unmasked, and was playing with her hair as she stared down the camera lens, before being handed a telephone, and appearing to answer, “Hello?” in the silent clip.
Fans were losing it at Adele’s stunning new look, calling her “gorgeous” and saying they were “obsessed”.
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“Can we talk about how gorgeous Adele looks,” one fan wrote on…