French luxury goods group booked strong double-digit sales growth in the first half of 2019 and a record operating margin of 29.5% – but investors have instead focused on a slowdown in sales growth at its key Gucci brand.
Total revenue generated by Kering's brands in the six-month period amounted to EUR7.34bn (US$8.2bn), up 18.6% as reported and 15.2% on a comparable basis.
Online fashion retailer Koovs Plc. reported a 8.6% rise in revenues for FY19 to ₹59 crore, up from the ₹54.3 crore reported in 2017-18, according to the company’s annual report.
Koovs’ total comprehensive loss for the year ended 31 March 2019, however, widened to ₹137.9 crore from ₹134.27 crore in the year-ago period, as its operating expenses grew 12% to ₹123.2 crore.
The gross order value stood at ₹117.8 crore down 6% from a year earlier.
China's garment industry saw an increase in domestic sales in the first five months this year despite slower expansion in the industry.
From January to May, retail sales of garment enterprises above a designated size amounted to 397.4 billion yuan (about 57.71 billion U.S. dollars), up 2.3 percent year on year, according to the Ministry of Industry and Information Technology (MIIT).
India, which is emerging as a global textile hub with huge potential, needs to develop man-made fibre to remain competitive in the global market and it aims to be a $350 billion industry by 2025, industry officials June 6 said.
"It is high time that the industry changes its approach to move into the second growth phase and aim for exports of around $100 billion from the current $40 billion," Textiles Secretary Ajit B Chavan said at the CII Texexcel 2019, the National Textiles 4.0 Summit here.
