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Showing 20 results out of 10000

News

UK: Manufacturers Invited To Discuss Industry's Future

British clothing and textile manufacturers are being given the opportunity next week to hear how the sector's regional business leaders are working to help them and just what is being done on their behalf. An Industry Forum is being organised by The East Midlands' Clothing and Textile Partnership (EMCAT) and will take place at the Nottinghamshire International Clothing Centre on Friday October 20th.

13 Oct 2000

News

FRANCE: Strong Growth In Turnover Continues For LVMH

Continuing strong demand for luxury products is reflected in the latest trading figures for LVMH Moet Hennessy Louis Vuitton. Consolidated turnover for the third quarter 2000 reached 2,862 million Euros, an increase of 35 per cent compared to 1999.Sales growth, already very strong in the first half, continued during the third quarter of the year. The third quarter of 1999, used as a basis for comparison, was already up 31 per cent compared to 1998. September sales reached an absolute record level.Over the first nine months of the year, turnover has increased by 38 per cent to reach 7,894 million Euros.Growth in the Fashion and Leather Goods business group continues to be very consistent, with sales at Louis Vuitton up by 38 per cent. The distribution network continues to grow, and now numbers 276 stores - the most recent of which was opened in Seoul. A first store was also opened in Sweden. Other brands - Celine, Loewe, Kenzo and Givenchy - have registered double digit growth and the performance of Fendi is described as "excellent".

13 Oct 2000

News

UK: USM Calls It A Day After 100 Years

The end of an era was announced today when United Shoe Machinery decided to call in the receivers after more than a century in business.The receivers announced this-afternoon that they are restructuring the company and will be making a further 114 people redundant. Forty-six people were laid off last week, and this leaves a skeleton workforce of just 50 people at the business. David Duggins, one of the partners in Arthur Anderson and one of the joint administrative receivers to USM Group, said: "USM Group has been recognised for many years for its high quality machines, which have been used by leading footwear manufacturers all over the world. "Unfortunately, the market is over supplied and the high pound has not helped the company in these circumstances."Arthur Anderson hopes the company will survive in this restructured format, albeit as a service and maintenance operation rather than a machinery builder. If this is the case, it will at least be good news for the footwear manufacturing sector. Many manufacturers have invested in USM machinery and their production depends on reliable repair and servicing.The firm was founded in 1899 and was once one of Leicester's largest employers. In its heyday there were 2,500 people in the workforce, but this has now dwindled to about 50 people in Leicester and a further 300 outside the UK.

13 Oct 2000

News

USA: Texbid Expands Sales Reach With Two New Senior Hires

Texbid, the technical textile industry's global exchange, announced today the appointments of James M. Buch as vice president - sales and Carla Doleman as director - sales.Eric Kamisher, CEO, said: "Both Jim and Carla possess valuable industry expertise that will enable us to augment our sales and marketing efforts across the entire industry supply chain."Prior to joining Texbid, Mr Buch served as global business director and director of sales, North America for the industrial coatings division of Cytec Industries, Inc. Carla Doleman was formerly global market development specialist at Wacker Silicones, a leading manufacturer of technical textile coatings. She has also held positions at Breed Technology and Levi Strauss & Co.

16 Oct 2000

News

USA: Bluefly And Soros Negotiate New Financing

Bluefly, Inc (NASDAQ SmallCap:BFLY), an Internet retailer of designer fashions and home furnishings at outlet store prices, announced today that it has entered into a non-binding letter of intent with Soros Private Equity Partners pursuant to which affiliates of Soros have proposed to invest up to an additional $15m in the company.

16 Oct 2000

News

USA: Goody's To Open Three New Stores

Goody's Family Clothing, Inc (Nasdaq/NM:GDYS) today announced plans to open three new stores, one each in Decatur, Alabama; Fort Oglethorpe, Georgia; and Logansport, Indiana. The company also plans to relocate its Bessemer, Alabama, store. All four stores are scheduled to open Thursday, October 19. In Alabama, the company is adding a 35,000 sq ft store in Decatur's English Village shopping centre, bringing the total number of Goody's stores operating in the state to 34. As part of an effort to strengthen its presence in the North Georgia/Chattanooga, Tennessee area, Goody's is adding a 23,000 sq ft store to Ft.Oglethorpe's Sentry Station shopping center, bringing its total number of Georgia stores to 47. In Indiana, the company is locating a 17,000 sq ft store in Logansport Mall in Logansport. This store brings the company's total number of Indiana stores to 15. Finally, Goody's will relocate its Bessemer, Alabama, store from Westlake Mall to 59 West shopping center on Academy Drive. Year-to-date, the company has opened 22 new stores and relocated or remodeled six stores. Including the stores outlined above, the company plans to open 10 new stores during the remainder of this fiscal year, and relocate seven, bringing the total new stores for the year to 32, and relocated or remodeled stores to 13.

16 Oct 2000

News

USA: Warnaco Class Action Lawyers Call For Lead Plaintiff

The law firm, Laurence D. Paskowitz, announced today that Warnaco shareholders have only 10 days to meet the class action deadline. The class action suit, which was filed on August 22, 2000 in the US District Court for the Southern District of New York, is on behalf of all persons and organisation who purchased Warnaco Group (NYSE:WAC) common stock between December 11, 1997 and July 20, 2000 (the "Class Period"). The lawsuit alleges that during the class period, Warnaco and two of its top officers and directors issued materially false and misleading statements regarding Warnaco's earnings, prospects, and business practices. In particular, the suit alleges that Warnaco inflated sales through knowing violations of a jeanswear distribution license obtained from Calvin Klein, Inc and the Calvin Klein Trademark Trust ("Klein"). On May 30, 2000, Klein sued Warnaco over these alleged violations. The suit also asserts that Warnaco stock was inflated during the class period by misleading earnings forecasts, and that all of the alleged misconduct was motivated by the defendants' interest in profiting from salary, bonuses and stock sales. Plaintiff seeks to recover damages on behalf of the class and is represented by Laurence D. Paskowitz and Roy Jacobs, attorneys with many years of experience in prosecuting investor class actions. If you are bought within the relevant time period, you may move the court, no later than October 23, 2000 to serve as lead plaintiff for the class. In order to serve as lead plaintiff, you must meet certain legal requirements. Please contact the undersigned if you have any questions about this Notice, the action, or your rights. You may also learn more about class actions in general by visiting

16 Oct 2000

News

USA: FDS To Cut 550 Jobs, Restructures Fingerhut

Federated Department Stores, Inc has announced a significant downsizing of its Fingerhut core catalog operations.Ronald W. Tysoe, Federated vice chairman, said: "We believe the best strategy to pursue at this time is to make the Fingerhut core catalog a smaller, profitable and financially more viable business. Extending credit more selectively will reduce sales, so expenses must be reduced significantly."

16 Oct 2000

News

USA: Caribbean Law An Opportunity For US Firms Says ATMI

While the US textile industry has seen some difficult economic times, there are opportunities for the industry to increase fabric and yarn sales under the new Caribbean Basin Trade Partnership Act, the president of the American Textile Manufacturers Institute (ATMI) said at the 94th Annual Meeting of the North Carolina Manufacturers Association.

16 Oct 2000

News

GERMANY: Trevira Sale To DB Subsidiary Cleared By EC

DB Industrial Holdings, subsidiary of the Deutsche Bank, and DBG unit Mopla have bought Trevira GmbH in Frankfurt. DB Industrial Holdings has a portfolio of shares in both public and private businesses that amounts to over DM45m. The European Commission said on Friday it had cleared the plans by to buy man-made fibres firm Trevira.The deal was cleared under the Commission's new simplified procedure for vetting mergers, under which non-controversial deals are automatically given the go ahead after one month if no one raises any competition concerns.Trevira was sold by the Dutch company European Fiber Industries BV, which bought Trevira from Hoechst two years ago. The sale still has to be approved by the European Monopolies Commission."We look on Trevira as a very valuable company, which has clearly shown its ability to earn money by concentrating on speciality products," said Axel C. Pfeil, who leads the DB investor board. "DB will, with the existing management, strengthen Trevira's business strategy and will increase the business's profitability in the next three to five years." Ulrich Huwe, Trevira's director, said: "Under the new owner Trevira will increase focus on specialities more aggressively. We will expand our position in new markets and will from now on start conquering markets outside Europe."

16 Oct 2000

News

UK: Prima Solutions Awarded For Real Partnerships

A five-year partnership approach to its customers and suppliers has paid off for Prima Solutions. The company, which provides computer based solutions to the clothing and footwear industries, has been awarded 'Most Consistent Niche Market Performance', by financial software supplier, OpenAccounts.David Cook, business development director of OpenAccounts Plc said: "Our business partner channel is core to our success and demonstrates the strength of 'best-of-breed' applications in niche market areas. Prima Solutions has been our most consistent performing channel partner over the last five years".John Norman, joint managing director at Prima Solutions added: "Working with OpenAccounts has allowed us and our customers to take for granted a high quality international accounting system. This in turn allows us more time to focus our core expertise of supply chain solutions for clothing and footwear. It's a true partnership with real mutual benefits."

16 Oct 2000

News

USA: AnnTaylor To Open Website And Stores By End Of Year

AnnTaylor, the women's apparel retailer, plans to launch its e-commerce site, introduce cosmetics in select stores, and open roughly 80 stores by the end of the year. Speaking at the Robertson Stephens conference in New York City, chairman and chief executive J. Patrick Spainhour said Ann Taylor would launch its website within two to three weeks in time for the holiday season. AnnTaylor.com will carry around 50 per cent of what's offered in its stores and will also debut new products before they are rolled out to bricks and mortar stores. JC Penney Logistics will provide fulfillment for the site. The retailer's Loft division is expected to launch its site later in the year. Spainhour also said that the retailer would begin testing colour cosmetics in select stores today (October 16). The new feature is expected to roll out to 300 stores by next spring. In addition, AnnTaylor will increase its offerings of petite sizes with separate signage. As for new store openings, the company says it will have added 20 stores by the end of the year while its Loft unit would increase its store base by 62 locations. Loft expects to add 70 additional stores in 2001. The retailer recently opened its third flagship store in Chicago and Spainhour said that Ann Taylor hopes to have 15 flagships in the future.

16 Oct 2000

News

UK: ICG To Give TexYard £4.5m In First Stage Investment

Efforts to improve and streamline sourcing in the European clothing industry were given a significant boost today following a partnership agreement between TexYard ( www.texyard.com ) and Internet Capital Group (ICG)(NASDAQ: ICGE), the business-to-business (B2B) e-commerce company. ICG will inject an initial $4.

16 Oct 2000

News

UK: M&S In Outlet Sell-Off Rumours

Rumours that Marks and Spencer is to announce the sale of some of its underperforming stores next month have been quashed a company spokesperson.The BBC reported today that the retailer, which has 297 stores in prime sites throughout Britain, is deliberating on whether to include former Littlewoods outlets in the sale.

16 Oct 2000

News

VIETNAM: Exports Up 4.97 Per Cent In First Nine Months

Vietnam's textile and garment exports rose 4.97 per cent year-on-year to $1,372m in the first nine months of this year. The national Vietnam Textile and Garment Corporation contributed $365m, 17.3 per cent more than last year. The corporation met in Ho Chi Minh City last week to discuss its US export strategy for 2000-2010. Initial steps taken to boost exports to the US included setting up liaison offices in New York and organising tours of the US market and meetings among Vietnamese business people and US exporters in Vietnam and the US. Newly approved production and to waste water treatment projects, using ODA sources from China, Japan, Spain, Germany, France and the Netherlands, are also under way. The corporation said it would establish more joint ventures with foreign investors and exporters, all aimed at increasing textile and garment exports to the United States.

16 Oct 2000

News

INDIA: Fedex Tests Specialised Service On Indian Exporters

Express cargo giant, Federal Express Corporation, has launched a specialised service for Indian garment exporters and said the company may introduce additional aircraft in a bid to further enhance its presence in the country. "The international fashion industry is looking at India as a sourcing base. We anticipate increased growth in business between Indian garment exporters and the international fashion markets over the next few years. That is why we are keen on assisting customers in this segment," Federal Express, managing director, Indian Sub-continent, Jacques Creeten said. "We chose India as the first country in the world to test market the service, as it has a huge textile industry which is also the largest foreign exchange earner," Creeten he added. The new service would be powered by documentation software developed by Bangalore-based BFL Software, which would allow exporters to prepare their customs paperwork electronically, he added.

16 Oct 2000

News

INDIA: Minister Works To Cut Excise Duties For Textile Mills

Indian Textile Minister, Kanshiram Rana, hopes to cut excise duties for larger textile mills and has taken up the issue of tax rationalisation with the federal Finance Minister. The rationalised tax structure will be unveiled in the next few weeks at the same time as the new textile policy. Rana said big spinning units were at a distinct disadvantage as compared with the units in the SSI sector in terms of excise rates. "This disparity needs to be corrected. I am talking to the federal Finance Minister Yashwant Sinha for the purpose," Rana said. "The burden for spinning mills and yarn sector is unbearable and needs to be reduced," Rana said while adding that a reduction in cost and improvement in quality were the two major issues in the textile sector. Rana dismissed fears that a cut in excise duties would lead to decline in revenue collections saying lower rates would instead lead to better compliance and fewer evasions. Taxes in spinning and the yarn sectors were increased by the government under a new three-tier tax slab of eight, 16 and 24 per cent from an earlier single tax rate of five per cent. "Under the new tax structure, the effective tax rate has increased from five per cent to 9.2 per cent," he said.

16 Oct 2000

News

USA: Inventor Creates Odour Free Socks

Gang Sun, a textile chemist at the University of California, claims to have invented a technology that could be used to develop odourless sports socks. The same technology could be used to make hospital gowns that repel bacteria and viruses, he claimed.After use, the treated garments need only a machine wash with household chlorine bleach, to recharge the bacteria-killing capacity, he said.

16 Oct 2000

News

UK: Simon Jersey Announces New Board Member

Geoff Moore has been promoted to the board of international corporate clothing designer and supplier Simon Jersey as its new sales director. Geoff's appointment follows the company's recent restructuring to help Simon Jersey focus on customer needs.Joining a board of six, Geoff began his career at Simon Jersey in 1990 as a sales executive. He has enjoyed a successful decade within the company, and his role has developed as the company has strengthened its market position and customer base.Simon Jersey's managing director, Mavis Gradwell said: "I am delighted to welcome Geoff on the board, where he will be representing the sales division at the very highest level within the company. His business development skills have contributed to the company's growth over the past decade, and his appointment reflects how valued he is at Simon Jersey."

16 Oct 2000

News

UK: Speculation On Coats Viyella Unit Sale Increases

Coats Viyella, the textiles group, is close to agreeing a deal to sell some of its clothing factories to Li & Fung, a Hong Kong-based trading company, for an estimated £50m, the Telegraph reported yesterday.However, the company would not confirm the report today. A representative said that Deloitte & Touche, the accountancy firm, is handling all potential buyers. "Deloitte & Touche is talking to a lot of people about the sale of the 24 units."Apart from Li & Fung, potential bidders are reported to include Courtaulds Textiles, Dewhirst, SR Gent and unspecified venture capitalists.Coats Viyella decided last month to dispose of all its businesses apart from its global thread operations and its Jaeger and Viyella retail brands. UK-based factories were unable to compete with cheaper overseas locations. Four of the company's clothing factories were closed in September, resulting in the loss of around 2,000 jobs.

16 Oct 2000