Category: Apparel

May 25, 2012 (LBO) – Sri Lanka’s Textured Jersey Plc, said it wants aquire another plant in South Asia to expand production and is looking to move away from furnace oil after a tariff increase, though operating profits increased with falling cotton prices. “Acquisition of operational facilities, which may now be available at a reasonable […]

May 15, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, lost 3. 0 million US dollars in the March 2012 quarter, up 45 percent from a year earlier amid revenue losses and asset write-downs, interim accounts showed. The troubled firm reported losses of 6 cents per share. The stock closed at 8.00 rupees […]

Mar 09, 2012 (LBO) – Demand from the United States for apparels would be strong this year, though Europe may be weak and domestic conditions in China, a key competitor favoured Sri Lanka, a top industry official said. Competitive currency depreciation began during the great depression and was institutionalized as a policy tool partly after […]

Feb 20, 2012 (LBO) – Sri Lanka’s Kuruwita Textile Mills returned to profit in the December 2011 quarter helped by lower cotton prices and lower costs from a revamp that included shedding staff. The firm, which supplies treated fabric to garment manufacturers, said it made a December 2011 quarter net profit of 13 million rupees […]

Feb 15, 2012 (LBO) – Sri Lankan clothing retailer Hameedia has tied up with India’s Madura Fashion & Lifestyle to sell its clothing brands and also open retail stores in the island. We’re going a step further and will make these brands available at several national apparel retail chains in major cities.” Madura Fashion & […]

Feb 10, 2012 (LBO) – Sri Lanka Hirdaramani Group, a big apparel exporter, said it has got carbon neutral certification for one of its factories, giving it an edge over competitors among environmentally conscious consumers. Acquiring ‘CarbonNeutral’ certification for its ‘Mihila’ factory “adds to our competitive edge against regional providers, the group said in a […]

Feb 06, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills (HMGT) managed to reduce losses in the December 2011 quarter from a year ago but sales also fell, interim accounts showed. Hayleys MGT Knitting Mills made a loss of 515 million rupees for the nine months ending December 2011, down nine percent from the […]

Feb 03, 2012 (LBO) – Sri Lanka’s Textured Jersey Lanka, a unit of Brandix, an apparel export group, said net profit fell 29 percent in the December 2011 quarter from a year ago. Net profit in the nine months ending December 31, 2011 fell 11 percent to 409 million rupees from a year ago. Sales […]

Jan 18, 2012 (LBO) – Sri Lankan apparel exporters can use duty free trade deals and cheap labour in the West African state of Senegal to gain access to markets in North America, the Ministry of Industry and Commerce said. A statement quoted Amadou Moustapha, newly appointed Ambassador of Senegal to Sri Lanka, as saying […]

Jan 06, 2012 (LBO) – Apparel exporters Timex and Fergasam Group will build two factories at a cost of five million US dollars in Sri Lanka’s north-western Mannar, part of the former war zone, the ministry of industry and commerce said. Timex and Fergasam currently employs more than 8,000 across its 16 manufacturing facilities with […]

Dec 23, 2011 (LBO) – Sri Lanka has begun work to revive its handloom industry, setting up a task force with plans for a national centre to oversee training of a new generation of weavers amid a looming shortage of skilled workers. District Level Handloom Coordinating Centres will also be set up to create a […]

Nov 16, 2011 (LBO) – Brandix, one of Sri Lanka’s top apparel exporters, expects lead times to deliver new designs to shrink rapidly in future given fast changing consumer fashions within the next two years. Rapidly shrinking lead times would be one of the biggest challenges for the apparel industry, Brandix chief executive Ashroff Omar […]