Cambodia can regain sustained economic growth by increasing productivity among firms and workers, diversifying exports, and taking steps to boost domestic investment, the World Bank said in its Cambodia Economic Memorandum. Cambodia’s growth rate plunged an estimated 10.1 percentage points to contract by 3.1 per cent in 2020 before resuming modest growth of […]

Business Finland, a public firm under the Finnish ministry, has granted Lounais-Suomen Jätehuolto (LSJH) circular economy investment aid for building a full-scale end-of-life textile refinement plant in Topinpuisto in Turku. The investment is approximately €20.5 million, and the share of the circular economy investment grant is approximately €5.2 million. “The build of the […]

Hohenstein has extended its accreditations as a testing laboratory and certification body to include FFP respiratory protection masks in accordance with DIN EN 149. The company now covers all types of textile masks (medical, FFP and community masks) with functional and safety tests. Hohenstein is a German partner for independent testing and certification. […]

Ahlstrom-Munksjö has signed contracts for civil work and machinery to build a new glass fibre tissue line facility located in Madisonville, Kentucky, US. The construction of the building will start in February 2022. The building and civil works are scheduled to be fully completed in summer 2023. Ahlstrom-Munksjö is a global leader in […]

Authentic Brands Group (ABG), a global brand development, marketing and entertainment company, has announced that Al Boom Marine (ABM), a company under the portfolio of Scope Investment, will become the operating partner for Reebok in the GCC, the Middle East including Iraq and Lebanon, and North Africa including Algeria, Egypt and Morocco. The […]

Ralph Lauren Corporation has announced a strategic limited partnership with Franklin Venture Partners, focused on mid and late-stage private companies. Ralph Lauren will make a capital investment with Franklin Venture Partners who will seek to invest in innovative consumer technology companies, with a particular focus on companies led by women.  Investing in consumer […]

Valentine’s Day spending is expected to reach $23.9 billion this year in the US, up from $21.8 billion in 2021 and the second-highest year on record, as per a recent survey. Online continues to be the most popular shopping destination for Valentine’s Day, visited by 41 per cent, followed by department stores at […]

Columbia Sportswear, an American manufacturer and distributor of outerwear, sportswear and footwear, has forecast 16-18 per cent net sales growth to reach $3.63 to $3.69 billion in fiscal 2022 (FY22) against $3.13 billion that was recorded in fiscal 2021 (FY21). It expects net income to be $359 to $379 million, resulting in diluted […]

California-based specialty retailer PacSun’s presence in the Metaverse has expanded further as the retailer has started to roll out its very own series of unique NFTs called Pac Mall Rats. The development of Pac Mall Rats comes on the heels of the brand’s first-ever NFT, which debuted in November 2021 and was designed […]