The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Gulf Capital and NBK Capital Partners have exited their growth capital facility in Jordan’s Classic Fashion Apparel Industries, according to a report in Private Equity Wire.
At the time of the investment in April 2018, Gulf Capital and NBK Capital Partners partnered with Sanal Kumar, the founder of Classic Fashion, to provide the company capital for production expansion and to support a refinancing plan. During this period, the company grew its revenues from $450 million in 2017 to more than $600 million in 2020.
Founded in 2003, Classic Fashion has longstanding relationships with global retail giants such as Walmart, Under Armour, Adidas, American Eagle, JC Penney, Hanes, and GAP and accounts for a 30 percent share of Jordan’s apparel exports. Classic Fashion today employs more than 27,000 staff and is Jodan’s largest private sector employer.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.