Fashion
India’s Arvind Fashions buys Flipkart stake in Flying Machine unit
Over the last five years Flying machine has re-established as a well-accepted brand on the digital channels. The partnership with the Flipkart group helped Flying Machine become one of the top casual wear brand on digital platforms, catering to the fashion-conscious youth of India.
Arvind Fashions Limited will acquire Flipkart Group’s stake in Arvind Youth Brands for ₹135 crore (~$15.02 million), making it a wholly owned subsidiary.
The partnership helped Flying Machine rebuild and grow as a leading youth casualwear brand on digital platforms.
The brand will remain available on Flipkart while expanding its presence across other online channels in India.
Amisha Jain, Managing Director & Chief Executive Officer of Arvind Fashions, said, “We are thankful to the Flipkart Group for their support in building Flying Machine into a brand of choice on digital channels. Our relationship with the Flipkart group will continue ensuring consumers can still shop Flying Machine on its platforms. The brand will also be available to consumers on other digital channels and portals.”
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
The package establishes a modern framework for both sides, enabling frictionless access to a market of 460 million consumers in key sectors, delivering economic benefits to both parties.
European Commission President Ursula von der Leyen and Swiss President Guy Parmelin yesterday signed a broad package of agreements aimed at deepening and expanding EU-Switzerland ties.
By aligning standards and rules in closely integrated areas, it will provide legal certainty, simplify trade in goods like medical devices and food products, and ease cross-border supply for businesses on both sides.
By aligning standards and rules in closely integrated areas, it will provide legal certainty, simplify trade in goods like medical devices and food products, and ease cross-border supply for businesses on both sides of the border.
Additionally, it will ensure more consistent rules for individuals who live, work or study across the EU-Swiss border. Switzerland will contribute to the development of legislation in the areas covered by the package and will have the opportunity to influence these rules as they are being designed.
“By modernising and deepening our ties across key sectors, from trade and transport to health and energy—we are strengthening legal certainty, fostering innovation and creating new opportunities for our citizens and businesses,” von der Leyen said in a release from the Commission.
The package includes updates to four already existing agreements, which already give Switzerland access to the EU internal market, regarding air transport, land transport, the free movement of persons and mutual recognition of conformity assessment.
New agreements on food safety, electricity, health and Switzerland’s participation in the EU Agency for the Space Programme were signed. A new agreement introduced a permanent and fair financial contribution by Switzerland to economic and social cohesion within the EU.
Apart from a protocol on parliamentary cooperation, the package includes also a joint declaration on the establishment of a high-level dialogue on the broad bilateral package.
Fibre2Fashion News Desk (DS)
Following earlier increases in purified terephthalic acid (PTA), melt and PSF, Indian producers have now raised PFY prices. POY, FDY and PTY prices have been increased by ****;* per kg across all deniers and lustres with effect from March *, reflecting rapid cost pass-through amid heightened volatility in crude-linked value chains, according to the market sources.
In the previous weekly revision effective February **, ****, PTA was increased by ****;*.** per kg to ****;**.** per kg, while monoethylene glycol (MEG) was retained at ****;**.** per kg. Polyester melt prices were raised by ****;*.** per kg to ****;**.** per kg. Downstream PSF prices were also revised upward by ****;*.** per kg from March *.
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