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

Textiles | On 27th Jun 2017

Govt defers tax deduction at source provision under GST

E-commerce players in India will not be required to deduct tax on...

Apparel/Garments | On 27th Jun 2017

Future Group aims Rs 12,000 crore in fashion business

Future Group, which runs retail stores across India under various...

Textiles | On 27th Jun 2017

AEPC & NSDL to help exporters with GST compliances

Apparel Export Promotion Council (AEPC) and National Securities...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Eric Scholler
Groz-Beckert

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search