The following is a round-up of apparel and footwear news from the world’s local media. just-style has not checked these stories so cannot guarantee their accuracy.
Lilliput Kidswear promotor Sanjeev Narula has petitioned the Company Law Board to restrain private-equity investors Bain Capital and TPG from obstructing the company’s operations. It is also seeking approval for a proposed IPO, which was blocked by the private-equity groups. The two private-equity firms have allegedly withdrawn their consent for the IPO and sought a re-audit of the accounts. THE ECONOMIC TIMES.
Liberty Shoes has posted a 50.13% decline in second-quarter net profit to INR170.8m, which it attributed to high interest costs. Sales grew 13.96% over the period to INR795.9m. BUSINESS STANDARD.
More than half of South Korea’s manufacturers have said that they expect to feel the impact of the European and US fiscal crises in the first-half of 2012. In a survey of 518 manufacturing companies, 56.9% responded that the consequences of the global financial crisis will do the most damage in the first-half of 2012, according to the Korea Chamber of Commerce and Industry. MAEIL BUSINESS NEWSPAPER.
Leading Pakistani textile manufacturers have decided to increase imports of raw cotton from Central Asian States by four-fold to meet domestic shortages and fulfil export orders. Pakistan is reportedly facing a shortage of some 4m bales of raw cotton in 2010-11 after floods reduced the domestic cotton crop to 12m bales from earlier estimates of 16m. THE FINANCIAL DAILY.
US Tariffs are shifting - will you react or anticipate?
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By GlobalData
