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The board of directors of GHCL Limited has approved a proposal to demerge its textile business, pursuant to a scheme of arrangement between GHCL Limited and the resulting company.The board has clarified that both its businesses i.e. inorganic chemical business and textile business will be separately listed companies after the approval of the scheme of arrangement by NCLT. It is further clarified that textiles business will not be a subsidiary of inorganic chemical business after the demerger of the company. The shareholders of the demerged company (i.e. GHCL Limited) will get one equity share of the resulting company i.e. Textile Company, which will be a separate listed company. The new shares of the resulting company will be issued and allotted to the shareholders of GHCL as a consideration under the scheme, which would be applied for listing on BSE and NSE, where the existing equity shares of the company are already listed. On a standalone basis, the textile business generated revenue of Rs 1,195.49 crore that accounts for 35.5 per cent of the total revenue. On Monday, the stock of GHCL closed at Rs 97.55. On Tuesday, it opened high at Rs 102.20, up by 4.7 per cent.

#textile

In response to the escalating situation regarding the Covid-19 threat, Messe Frankfurt Trade Fairs India and MEX Exhibitions with mass consent of its exhibitors have decided to postpone Gartex Texprocess India, Mumbai edition by a few months. The decision comes after consulting with its exhibitors to gain a sense of whether we should proceed with running the show as originally scheduled. The response was an overwhelming majority of almost 95% opting to postpone the show. Having received this feedback in conjunction with current events surrounding Covid-19’s spread, the decision was taken. Though it was a very hard decision to make given all the preparations and expenditure already incurred on the show, MEX Exhibitions & Messe Frankfurt Trade Fairs’ first priority is the health and well-being of our exhibitors, visitors and trade partners. New dates will be announced soon.

#tradefairs

Textile business in West Bengal’s Siliguri city is dull these days due to the current coronavirus scare. Normally, it is a busy season around this time of the year, but customers are not venturing out for the fear of catching the diseases, resulting in a dip in demand. Supply is also impacted due to interruptions in receiving materials from China. Low demand and supply has given rise to a dull situation in the market because of Covid-19. Our number of customers are just negligible at present and the sales figures have gone down in the past few days. The orders have also gone down due to panic among customers. We hope the revival phase starts soon.” Nilanjan Dam, partner at the city-based News Ashok Textiles, agrees with Agarwal. “The number of customers has gone down drastically in the past few weeks. People are in constant fear because of coronavirus. Business wise, this used to be a busy time for us, but coronavirus has dampened the market.”

#west bengal

GOTS released a statement which informs that around 7765 are now Gots certified which is an increase of 35% with more than 3 million workers covered under GOTS in 2019. In 2019, the number of GOTS certified facilities globally grew by 35%, from 5,760 to 7,765 located in 70 countries. The number demonstrates that GOTS successfully serves as a sustainable solution. The required certified organic fibers protect the climate by absorbing CO2 and every processing step – from field to fashion – has to meet stringent social and environmental criteria before a finished product is allowed to carry the GOTS label.This huge leap forward was seen in both, production and consuming regions. Countries with largest growth in GOTS-certification in percentage in 2019 are: Bangladesh (73%), Netherlands (73%), Spain (71%), and Turkey (65%). In terms of total numbers of certified facilities, the highest increase is reported from Bangladesh (+505), followed by India (+438) and Europe (+396). The top ten countries in terms of total numbers of GOTS-certified facilities in 2019 are: India (2411), Bangladesh (1194), Turkey (858), Germany (565), China (448), Italy (444), Portugal (301), Pakistan (276), USA (147), and the UK (75). India has been at the top position with the highest number of GOTS certified facilities since 2008. This year, there was an increase of 438 GOTS-certified facilities in India. “With the whole supply chain from farm to retail, along with suppliers of GOTS Approved Chemical Inputs, India has a unique position in the organic textile industry.

#textile

Gap inc has selected its Board of Directors and has named Sonia Syngal, an accomplished retail leader and CEO of the portfolio’s Old Navy business since 2016, as the company’s next chief executive officer, effective March 23. She will also join the Gap Inc. Board of Directors. As Gap Inc.’s new CEO, Syngal’s top priority will be strengthening the performance of the portfolio. “To lead the company into its next chapter, we sought a dynamic leader who could bring a deep respect for our customers and make the decisions necessary to deliver value from our portfolio of brands over the long term,” said Bob Fisher, interim Gap Inc. CEO and current chair of the Gap Inc. Board of Directors. “Sonia has all of the characteristics and experiences needed to effectively execute against the work ahead. She is an excellent operator who drives innovation and decisive action, and she leads with both vision and heart.” “It’s an honor to build on this company’s rich heritage and lead our nearly 130,000 employees in transforming our business and operations to successfully compete in the future,” said Sonia. “I’m committed to fully realizing the potential of our portfolio and the advantage of our scale, with a focus on strengthening the love that our millions of customers have for our brands. To do that, we must better prioritize initiatives and capabilities that will improve execution and drive value creation.” The company also announced that Board member Bobby Martin will take the role of Executive Chairman, effective March 23. Martin has extensive experience in the retail world, having served as president and CEO of Wal-Mart International, as a former director at Dillard’s Inc., and as a member of the Gap Inc. Board of Directors since 2002. His experiences will serve as a strong complement to Sonia’s, as they position the company to deliver value to our customers, employees and shareholders. Two New Members to Join Gap Inc.’s Board of Directors: Elizabeth Smith and Amy Miles

#gap

Known for innovative and bold performance footwear, athletic shoe brand HOKA ONE ONE is releasing its first-ever apparel and accessories collection. Designed for both fitness pursuits and everyday wear, the 27-piece collection features tops, shorts, socks and hats built for maximum performance and comfort. Additionally, HOKA ONE ONE continues to make environmental strides and progress on its journey towards sustainability by incorporating recycled raw materials into its new apparel line. Highlights of the collection include a unisex puffy jacket made from 100% post-consumer recycled content and performance tops comprised of at least 50% recycled fibers. The apparel range also features ultra-soft lifestyle tees, GORE-TEX SHAKEDRY jackets and structured hoodies. Additionally, bold new pieces were designed to solve everyday problems for athletes. The versatile 3/4 sleeve top and women’s utility shirt will “fill previously uninhabited niches in the athlete’s wardrobe.” Accessories include performance bucket hats and no-show socks. “Our new apparel line includes previously unseen designs meant to meet the unique needs of the HOKA consumer,” says Wendy Yang, President of HOKA ONE ONE. “Equally important, we believe no athlete should have to choose between technology designed for high-level performance and a comfortable fit and feel. This new collection provides both, so everyone can feel ready to take on the world – or fly over it.”

#women

Golf and athletic brands are developing apparel and accessories designed to help female golfers look good but that will also perform on and off the course. The originally men’s-only apparel company Rhone has launched its first women’s collection timed around International Women’s Day (March 8).Several pieces in the collection feature the empowering quote by Virginia Woolf: “No need to be anybody but oneself.” The capsule includes leggings, joggers, tanks and a cropped hoodie. The leggings are made of a sustainable fabric made from recycled fishing nets removed from the oceans. Available in black or red, the fabric is treated with the company’s Goldfusion anti-odor technology that has been extremely popular in the men’s line. The women’s capsule was inspired and conceptualized by the female employees at Rhone, says Kyle McClure, Co-Founder and Chief Product Officer of Rhone: Rhone is a partner of the Dr. Maya Angelou Foundation and has made a contribution to the organization furthering their mission of improving the quality of life for all human beings supporting educational excellence and healthcare equity for all

#sustainable

Denims have evolved in the past 150 years from being Miners Workwear to Poor Man’s Utility, to a hallmark of rebellious youth, into high fashion sensibilities. Today, Denims have found acceptance as Lifestyle Apparel and people from all walks of life, gender & age groups wear Jeans as a 24X7 product. Be it for work, party or play, denim is in demand! Indian Jeanswear market has been consistently growing in double digits. Jeans have made inroads into Corporate Wear. Women’s changing lifestyle & preferences are favoring Jeanswear. Stimulated by the acceleration in the sector, Arvind, the $2 billion textile-to-technology conglomerate, announced the launch of its latest collection, United by Indigo – a collection for the forthcoming Festive 2020 Season In India, that thoughtfully balances the legacy of authentic denim with future possibilities to capture the essence of the present-day global trends. The Lycra Company, which is into functional & performance speciality – stretch yarn technology, Co-hosted today’s event. They have been Arvind’s Innovation partner since many years and have collaborated to deliver multiple unique & successful products to the Indian market. At the unveiling held in Mumbai today, Arvind Denims debuted the INFIKNITY Range, representing infinite possibilities in Indigo Inspired active wear Lifestyle, using a range of technology adaptations in Knitting. Also on display were the latest up-dates on the already popular range of MUTANTS that blend the ruggedness & durability of traditional Jeanswear with comfort & supple softness of real knits. The widely acknowledged BLOCKBUSTER range of Denims that Democratized Jeans for a wider Indian population, were also on display. Apart from these, up-dates in the AZURITE, BOOMERANG & SELF-EDGE range of products were well appreciated. At the core of the collection is the central theme of “Sensation”, with surfaces & hand feel that tease our senses & make us feel plush, warm & cared for. Talking about the latest United by Indigo Festive 2020 collection, Aamir Akhtar, CEO, Arvind Denims said, “This collection celebrates the potential of collaborations and technology lead innovation. Arvind recognizes the critical role of trade channel partners in expanding its reach into the Indian Denim Market. It actively collaborates with its Channel Partners to study & respond to emerging consumer trends across all segments of the denim market. Caring for the environment, Economic & Social Impact, are a way of life at Arvind and it is a pioneer in making denims increasingly sustainable and eco-friendly products .

#technology

Safe and readily available water is important for public health. Improved water supply and sanitation, and better management of water resources, can boost countries’ economic growth and can contribute greatly to poverty reduction. United Nations Sustainable Development Goal target 6 calls for universal and equitable access to safe and affordable drinking water. In a bid to provide clean and safe drinking water to the villagers of Parmar khedi in Nagda, Madhya Pradesh, Grasim Industries has constructed a state of the art modern Reverse Osmosis (RO) plant at a cost of Rs 20 lacs with a capacity to process 1500 liters of drinking water in one hour. Grasim Industries has been one of the pioneers of ‘Make in India’ success stories with its first viscose staple fibre manufacturing plant in Nagda. Right from its inception in 1947,Grasim Industries has been committed to giving back to society,leading to an impressive transformation of Nagda town and its surrounding villages. On Sunday, 23 February 2020, Shri Thaawarchand Gehlot, Union Minister for Social Justice & Empowerment, Government of India, Shri Dilip Gurjar, MLA – Nagda and Khachrod along with Shri Dilip Gaur, Managing Director, Grasim Industries inaugurated and dedicated the first RO plant to the villagers of Parmarkedhi. On the auspicious occasion, Mr Dilip Gaur, Managing Director, Grasim Industries said, “The welfare of the local community at Nagda is core to our strategy. For decades we have been investing in the economic and social transformation of the region. As part of our relentless efforts to improve living standards we are pleased to dedicate a new RO plant to the people of Parmarkedhi. Excellence in water management practices is integral to our commitment towards water stewardship. With the new RO plant in Parmarkedhi, we are confident of positively impacting several lives in the region by providing safe clean drinking water.” In Parmarkedhi and surrounding villages, Grasim Industries has been actively supplying 70,000 liters drinking water through 14 tankers on daily basis from last 2 years. It has also installed 3 Water drinking tanks of 2000 liters for the benefit of villagers.Grasim Industries state-of-the-art technologies, such as membrane processes help in the clean-up and recycle of wastewater. These innovations improve the efficiency of processes, which allows reuse of water several times over and provides additional water to the villagers. Today, the plant meets daily water requirements of the entire city and kachrod along with railways through 30 billion liters storage capacity built by the company. Grasim Industries unrelenting focus has had a significant impact on numerous villagers residing in the plant vicinity. Along with providing clean water, Grasim Industries has also been committed to community engagement in areas of education, healthcare, sustainable livelihood, infrastructure development and social reform. The community engagement program spans 55 villages and 25 urban slums, reaching out to over 1 lakh people. In healthcare, Grasim Industries every week provides free health services and medicines through Mobile Medical Van. In sanitation, it has supported the construction of individual toilets under “Swachh Bharat Abhiyan” drive. Grasim Industries has also provided LED streetlights and school furniture, as well as conducted cattle vaccination and treatment camps in collaboration with veterinary departments. The women are also trained on tailoring skills, and stitching machines have been distributed to empower them.

#water

GOTS released a statement which informs that around 7765 are now Gots certified which is an increase of 35% with more than 3 million workers covered under GOTS in 2019. In 2019, the number of GOTS certified facilities globally grew by 35%, from 5,760 to 7,765 located in 70 countries. The number demonstrates that GOTS successfully serves as a sustainable solution. The required certified organic fibers protect the climate by absorbing CO2 and every processing step – from field to fashion – has to meet stringent social and environmental criteria before a finished product is allowed to carry the GOTS label.This huge leap forward was seen in both, production and consuming regions. Countries with largest growth in GOTS-certification in percentage in 2019 are: Bangladesh (73%), Netherlands (73%), Spain (71%), and Turkey (65%). In terms of total numbers of certified facilities, the highest increase is reported from Bangladesh (+505), followed by India (+438) and Europe (+396). The top ten countries in terms of total numbers of GOTS-certified facilities in 2019 are: India (2411), Bangladesh (1194), Turkey (858), Germany (565), China (448), Italy (444), Portugal (301), Pakistan (276), USA (147), and the UK (75). India has been at the top position with the highest number of GOTS certified facilities since 2008. This year, there was an increase of 438 GOTS-certified facilities in India. “With the whole supply chain from farm to retail, along with suppliers of GOTS Approved Chemical Inputs, India has a unique position in the organic textile industry.

#textile

Federation of Surat Textile Traders’ Association (FOSTTA) has urged Union Ministry of Micro, Small and Medium Enterprises (MSME) to treat the textile traders in the city as MSMEs. In a recent meeting held with the Development Commissioner of MSME, Ram Mohan Mishra, urged Mishra to provide status of MSME to Textiles traders. Apart from putting their long-pending demand of providing MSME status to textile traders, the traders’ body also raised several issues which they are facing. “Textile trading business involves 60 per cent job work on cloth, which passes from more than 12 different types of processes. However, traders are also manufacturers and that they should be given the status of MSME,” said FOSTTA, Joint Secretary, Purshottam Agarwal. Traders also requested MSME development commissioner to set up a skill development centre for women. “We raised an important issue with MSME development commissioner for setting up a skill development centre for women doing hand-embroidery on saris and dress material. After GST implementation, hundreds of women have been rendered jobless,” FOSTTA president Manoj Agarwal added.

#textile

Yespoho India Pvt Ltd, a subsidiary of Yespoho Inc USA, is a startup firm launched in India to work directly with India’s craftsman – Weavers, artisans for the betterment of the economic status. It is India’s 1st social platform connecting weavers, artisans to consumers directly. Yespoho’s weavers and their family can join Yespoho Institute, an online portal, to improve their skills free of cost. It employs local talent from its village partners to join their work force. It works directly with weavers to put their products on the platform.

#yespoho

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