Home / Knowledge / News / Apparel/Garments / Garment Co Jerasia to balance its trade between US & Europe
Garment Co Jerasia to balance its trade between US & Europe
29
Aug '08
Jerasia Capital Bhd, a leading garment manufacturer and retailer has plans to increase its exports to Europe with the objective of balancing the ratio between US and Europe to 50:50.

Presently, around 85-90 percent of the company's garments are exported to the US while the remaining is traded with Europe. After an annual general meeting of the company on August 27, Mr Pronob Sengupta, Executive Director of Jerasia, told the media, “We want to increase the exports to the European market, without decreasing our exports to the US. We are currently in talks with two buyers from France and Spain. Our talks are in advanced stage now, and we hope to conclude them by year-end.”

The annual production capacity of Jerasia is said to be 20 million pieces and achieving a 50:50 export target for Europe and the US would be possible in medium term.

Mr Sengupta further informed that, “Global uncertainties, the US credit chunk, higher oil prices and commodity prices have affected our exports. We will see flat growth in exports in the second and third quarter, but we expect exports to pick up by the fourth.”

Profits in the first quarter ending June'08, experienced a drop of 12.05 percent to RM1 million from RM1.15 million recorded a year earlier. Turnover also saw a marginal plunge of R63.6 million as against RM63.7 posted in the previous fiscal.

Slowdown in the economic conditions of key markets, weaker demand in line with declining consumer spending and lowering in income from exports when converted to local currency due to the devaluating US dollar led to a drop of 28.3 percent in export turnover or RM8.8 million to touch RM22.2 million.

However, the company's retail presence with over 60 stores in Malaysia for international and local brands was not impacted adversely. Some of its international brands include MNG Mango, Naf Naf, Calvin Klein and Nike while its homegrown brands encompasses Ladylike, Charlie, Milani and Ureka.

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search