In its Q3 FY2022, KPR Mill’s net profit declined by 12.57 per cent to Rs 211.77 crore against Rs 242.22 crore in Q2 FY2022. As per an Equity Bulls, the company’s total income grew by 4.90 per cent to Rs 1,285.83 crore from Rs 1225.72 crores reported during the previous quarter.

On a Y-o-Y basis, KPR Mills posted a 35.52 per cent growth in profit to Rs 211.77 crore for the period ended December 31, 2021 as compared to net profit of Rs 156.26 crore posted for the period ended December 31, 2020. Total income grew 36.86 per cent to Rs 1,285.83 crore during the period ended December 31, 2021 as compared to Rs 939.51 crore during the period ended December 31, 2020.

To be more in line with its current brand positioning, Galician Group company, Stradivarius is refreshing its visual identity. As per a Fashion Network report, the move aims to assert the fashion retailer’s identity by creating a new more contemporary and refined logo, designed together with the Barcelona-based studio Ana Mirats and written in a font that was created exclusively for the brand.

The new visual illustrates Stradivarius’ two differentiating elements: treble clef, a symbol reflecting the dynamism of the brand; and the personalized font designed to provide readability and notoriety in a more contemporary style.

Founded as an independent brand by the Triquell family, Stradivarius is the fifth largest brand in terms of turnover for the Galician conglomerate that is behind Zara, Pull & Bear, Massimo Dutti, and Bershka. The brand closed the 2020 financial year with a total of 936 stores worldwide and a turnover of €1.283 billion, 26 per cent lower than the sales recorded a year earlier.

Incentives for imported textile products should not exceed those for domestic textile products, says Redma Gita Wiraswasta, Chairman, Indonesian Filament Yarn and Fiber Association (APSyFI). The current provision of incentives for imported textile raw material products has resulted in a large number of imported goods entering the country, hampering the domestic textile raw material industry, says a Indo Textiles report.

Reduction in income tax incentives in Article 22 of imports in a number of manufacturing sectors will strengthen local products, Wiraswasta adds. . It will also help domestic producers meet the demands of raw materials for the local textile market, he adds. Indonesian Fiber and Filament Yarn Producers Association (APSyFI) was Founded on May 31, 1975. 22 companies of APSyFI’s members are producing polyester staple fiber, polyester filament yarn and nylon filament yarn. Indonesia is one of the world's 10 largest producers of synthetic fiber, with total capacity of 830,000 tons of polyester staple fiber, 840,000 tons of polyester filament yarn, 32,000 tons of nylon filament yarn and 550.000 tons of rayon staple fiber.

Cotton farmers in Bangladesh are missing out on the $3 billion domestic market with their growing preference of other cash crops, says MD Akterruzzzaman, Executive Director, Cotton Development Board(CDB). Last year, the country produced only 1.77 lakh bales of cotton which or only around 1 per cent of the total annual consumption of the raw material of nine million bales. This has raised cotton imports price to over $3 billion annually from the US, African countries, Australia, Brazil, Pakistan, and Central Asian nations, he adds.

As per a Daily Star report, scarcity of arable land, emphasis on food production, and lower price of cotton are responsible for farmers' lack of interest in growing the textile raw material. Parvez Anwar, Head, Department of Agronomy of Bangladesh Agricultural University adds, farmers also do not have the confidence to grow cotton abundantly as they do not get ready markets and good prices. The CDB hopes to lift cotton output to 2 lakh bales by 2022 and 3 lakh bales in the next five years, as a part of its plans to grow the crop on one lakh hectares by 2030 and meet 10 to 15 per cent of local demand.

Currently, the board is implementing three major initiatives to boost cotton production and improve quality. It is executing extended project for cotton production involving Tk 150 crore; a capacity-building project involving Tk 63 crore; and a donor-backed project to improve the quality of the raw material involving Tk 8 crore. The state-run organization has teamed up with a UK-based international clothing brand to enhance the capacity of 15,000 farmers under a project. The CDB mainly provides technical support. Moreover, there are two more projects under the CDB aimed at alleviating poverty through cotton cultivation in hilly areas such as Bandarban and providing soft loans to farmers.