India’s textile hub of Tirupur is facing a revival of fortunes after nearly two years with a flurry of orders from the US and UK, helped also by political instability in neighbouring Bangladesh. With this, the city’s 5,000 apparel export units are buzzing with activity with their factories operating at 95% capacity. K M Subramanian,…
So, there is a huge amount of sourcing out of Bangladesh and even a small portion of it, which is seeking other sourcing areas like India is creating a good demand traction and we are seeing that as we speak. “So, retail sales has been pretty good, which means that brands once they sort out…
Gokaldas Exports LTD Bengaluru-headquartered apparel exporter Gokaldas Exports posted an 18.77% rise in consolidated profit at Rs 28.16 crore for the quarter ended September 30, mainly led by exports. The company had posted a net profit of Rs 23.71 crore for the same quarter a year ago. During the September quarter, the firm’s total income…
Sivaramakrishnan Ganapathi, MD, Gokaldas Exports, says this year on the low base of last year, there is a growth. Also, the retail-led demand continues to pull up the sector and there is also a move from Western companies to source more from India and that is getting more pronounced when the demand is coming back,…
Bengaluru-based apparel exporter Gokaldas Exports on Monday reported a consolidated revenue of Rs 818 Crore for the quarter ended March 2024, compared to Rs 530.1 crore in the same quarter last year, recording a 54% jump in topline. The company also reported a consolidated profit after tax of Rs 44.3 crore compared to Rs 47.2…
Sivaramakrishnan Ganapathi, Managing Director, Gokaldas Exports “European brands bought about 16% less than the previous year. So, it has been a bit slow. And compared to that we are now seeing traction coming back, so that is good news,” says Sivaramakrishnan Ganapathi, Gokaldas Exports. Let us just start by talking about the numbers. Yes, obviously,…
Representative image New Delhi: Gokaldas Exports Limited (GEL) has signed an agreement with Matrix Clothing Private Limited (MCPL) for the acquisition of its 100 per cent of share capital of Matrix Design and Industries for an enterprise value of Rs 489 crore, it said in a press release on Friday. From the total value, Rs…
Representative Image Mumbai: Readymade garment manufacturer and exporter Gokaldas Exports Ltd (GEL) on Tuesday said it has entered into an agreement through its wholly-owned subsidiaries to acquire Atraco Group for USD 55 million. Headquartered in Dubai, apparel manufacturer Atraco operates with a network of four manufacturing units in Kenya and one in Ethiopia producing about…
Sivaramakrishnan Ganapathi, vice chairman & MD, Gokaldas Exports The Bengaluru-headquartered Gokaldas Exports on Monday announced that it has, through its wholly owned subsidiaries, entered into an agreement to acquire Atraco Group (Atraco), a Dubai-based manufacturer of apparel with a strong market position and customer relationships across the US and Europe. The equity value of the…
