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.

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