Home / Knowledge / News / Apparel/Garments / Lakeland expects double digit growth from foreign operations
Lakeland expects double digit growth from foreign operations
27
Oct '08
Lakeland Industries Inc announced that, through its recently acquired Brazilian subsidiary Qualytextil, the Company has received a contract worth approximately US$700,000 from Neo Energy Group, a major holding company in Brazil owning several electric utilities, for customized protective clothing.

This award builds upon existing business with Lakeland and is representative of the high-caliber customers doing business with Qualytextil. Neo Energy will be using Lakeland garments for fire protection and electric arc exposure.

"We continue to experience robust business conditions at our high growth international operation," said Chris Ryan, the CEO of Lakeland. "Today's announcement marks the third major contract that we have received in the month of October from Brazil."

"Moreover, we believe that in the face of slower economic conditions in many developed nations around the world, the strategy we began implementing nearly two years ago to diversify our revenue base outside of the United States is gaining meaningful traction, particularly in Latin America, China and India where GDP growth will slow but will still be considered robust by U.S. standards. We expect continued strong unit growth from our international operations."

With an in-house sales force of 20 employees and nearly 30 outside sales representatives, Qualytextil covers the entire country of Brazil, selling directly to end users. Qualytextil markets products to major state-owned companies and agencies and the main oil and chemical companies.

The Brazilian operations, including manufacturing, sales and marketing, warehousing, and distribution, benefit from State provided tax incentives, favorable labor rates, and proximity to economical transportation for local and international distribution of garments. Lakeland expects its Brazilian sales and operating earnings to remain strong in their local currency for the Company's fiscal third quarter ended October 31, 2008. Exchange rate fluctuations, such as the recent strengthening of the U.S. dollar against the Brazilian Real, may impact the Company's consolidated financial results.

Lakeland Industries Inc


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

JD.com to invest $3.1 bn to revive industry in NE China

Apparel/Garments | On 22nd Jan 2018

JD.com to invest $3.1 bn to revive industry in NE China

To back the government’s campaign to revitalize the traditional...

SIMA makes pre-budget recommendations to Indian govt

Textiles | On 22nd Jan 2018

SIMA makes pre-budget recommendations to Indian govt

Exemption of 5 per cent goods and services tax (GST) on raw cotton,...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Urmil Arya

Sushila International, a well established textile organisation established ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

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

Steve Cole
Xerium Technologies

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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