Business

Interloop Announces $300 Million Expansion Plan

Faisalabad-based knitting and apparel manufacturer Interloop plans to invest $300 million in expansion efforts over the next five years.

The hosiery giant announced that it intends to build a denim fabric mill, a knitted apparel plant, an activewear plant, a hosiery plant, and expand its spinning and yarn dyeing capacity.

This expansion is part of Interloop’s 2025 Vision Rollout, in which it pledged to double sales by FY 2026.

Interloop intends to build a fully vertical apparel facility, through which it expects to push the company’s annual capacity to 40 million pieces of apparel.

Starting with ten knitting machines in 1992, the manufacturer became a significant force in Pakistan’s textile industry. It is one of the largest companies listed on the Pakistan Stock Exchange in terms of market capitalization.

With 5,000 of the latest Italian knitting machines, 24,000+ employees, and manufacturing divisions in three countries, Interloop’s current annual turnover logs in at about $300 million.

It supplies products like hosiery, socks, leggings, denim, and knitwear to international companies and retailers, including Nike, Adidas, and H&M.

The company manufactures 700 million pairs of hosiery and 26 million kilograms of yarn per year.

During the first half of 2021, Interloop logged sales of Rs. 26.26 billion, and registered profit after tax of Rs. 2.90 billion.

Related posts
BusinessGlobal

12,500 jobs at risk as retailer collapses

British homeware and household goods discount retailer Wilko said it had fallen into administration…
Read more
Business

Pakistan okays agreement for Karachi Terminal deal with UAE

ISLAMABAD: Pakistan has approved a commercial agreement to hand over two more seaport terminals to…
Read more
BusinessSocial Media

Mark Zuckerberg ‘not holding his breath’ for awaited cage fight with Elon Musk

Meta CEO Mark Zuckerberg said on Tuesday that he was “not holding his breath” over a…
Read more
Newsletter
Become a Trendsetter
Sign up for Davenport’s Daily Digest and get the best of Davenport, tailored for you.

Leave a Reply

Your email address will not be published. Required fields are marked *