|
Item |
Price |
Unit |
Fluctuation |
Date |
|
PSF |
1041.42 |
USD/Ton |
-0.30% |
11/22/2015 |
|
VSF |
2254.86 |
USD/Ton |
0% |
11/22/2015 |
|
ASF |
2028.90 |
USD/Ton |
0% |
11/22/2015 |
|
Polyester POY |
992.95 |
USD/Ton |
-0.31% |
11/22/2015 |
|
Nylon FDY |
2439.37 |
USD/Ton |
-0.95% |
11/22/2015 |
|
40D Spandex |
5238.40 |
USD/Ton |
0% |
11/22/2015 |
|
Nylon DTY |
2705.20 |
USD/Ton |
0% |
11/22/2015 |
|
Viscose Long Filament |
5829.47 |
USD/Ton |
0% |
11/22/2015 |
|
Polyester DTY |
1247.05 |
USD/Ton |
-0.31% |
11/22/2015 |
|
Nylon POY |
2259.55 |
USD/Ton |
-0.69% |
11/22/2015 |
|
Acrylic Top 3D |
2204.82 |
USD/Ton |
0% |
11/22/2015 |
|
Polyester FDY |
1046.12 |
USD/Ton |
-0.15% |
11/22/2015 |
|
30S Spun Rayon Yarn |
2830.30 |
USD/Ton |
0% |
11/22/2015 |
|
32S Polyester Yarn |
1657.52 |
USD/Ton |
-0.93% |
11/22/2015 |
|
45S T/C Yarn |
2673.93 |
USD/Ton |
0% |
11/22/2015 |
|
45S Polyester Yarn |
1829.53 |
USD/Ton |
-0.85% |
11/22/2015 |
|
T/C Yarn 65/35 32S |
2267.37 |
USD/Ton |
0% |
11/22/2015 |
|
40S Rayon Yarn |
3002.30 |
USD/Ton |
0% |
11/22/2015 |
|
T/R Yarn 65/35 32S |
2580.11 |
USD/Ton |
0% |
11/22/2015 |
|
10S Denim Fabric |
1.09 |
USD/Meter |
0% |
11/22/2015 |
|
32S Twill Fabric |
0.92 |
USD/Meter |
0% |
11/22/2015 |
|
40S Combed Poplin |
1.00 |
USD/Meter |
0% |
11/22/2015 |
|
30S Rayon Fabric |
0.74 |
USD/Meter |
0% |
11/22/2015 |
|
45S T/C Fabric |
0.75 |
USD/Meter |
0% |
11/22/2015 |
Source : Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.15637 USD dtd. 22/11/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
A host of incentives including extension of 3 per cent interest subsidy will help in boosting exports, which are in negative zone since December last year, Commerce and Industry Minister Nirmala Sitharaman said.
A host of incentives including extension of 3 per cent interest subsidy will help in boosting exports, which are in negative zone since December last year, Commerce and Industry Minister Nirmala Sitharaman said. She said the country’s exports are suffering due to a decline in prices of three major items — crude oil, commodities and essential metals, and demand slowdown in major economies including Japan, the US and Europe. “Exports are declining in terms of value. We are trying to do things to make our exports a bit more competitive,” Sitharaman told PTI in an interview. The government has recently extended incentives under the Merchandise Export India Scheme (MEIS), three per cent interest subsidy and enhanced duty drawback rates. “These are steps we have announced with an intention of handholding (to exporters),” the minister said.
She said the interest subsidy scheme would help exporters access credit at affordable rate. “Just the interest subsidy is to the range of Rs 2,700 crore annually. This will be applied to nearly 25 sectors, which are labour intensive and sectors which have the potential to create jobs,” she said. The fall in exports is not because our exporters have become inefficient or their products are sub-quality, she said adding globally there is a fall in demand. “In the areas where we traditionally exported, there currencies are depreciating for instance the euro is depreciating. Europe is one of our very big export markets. So for the same quantity of exports, you are earning far lesser,” Sitharaman said. She said that the quantum of exports has not drastically fallen. “Commodity prices all over the world is coming down, so even if you export, you are earning less. Then essential metals have also fallen in price. So with major components of your exports falling in price, the value of exports really suffers,” the minister said. Under MEIS, the government has announced incentives of Rs 3,000 crore to several products, including textiles and electronics. Under the scheme, the government provides duty benefits at 2 per cent, 3 per cent and 5 per cent depending upon the product and country. The government had also raised duty refund rates on a host of items, including iron, steel, garments and marine products, with a view to promote exports. India’s exports remained in the negative territory for the 11th month in a row by registering a dip of 17.53 per cent in October to USD 21.35 billion due to a demand slowdown, while trade deficit showed an improvement.
Source: Financial Express
Barclays says India's macroeconomic data largely 'favorable' and inflationary pressures expected to stay lower for longer time India is likely to clock a growth rate of 7.5 per cent for the July-September quarter, while the Reserve Bank is expected to go for 50 basis points cut in interest rate in the first half of next year amid softer inflation, says a Barclays report. According to the global financial services firm, India's macroeconomic data is largely "favorable" and inflationary pressures are expected to stay lower for a longer time. According to official figures retail inflation stood at 5per cent in October, while the Wholesale Price Index (WPI) contracted to 3.8per cent during the month. Factors like effective food price management, idle industrial capacity, softer commodity prices and a largely stable Indian Rupee augur well for inflation remaining "anchored" in 2016, the report said. "A prolonged period of softer inflation is likely to offer space for more monetary easing - we forecast another 50 basis points of repo rate cuts during the first half of 2016," it said. Reserve Bank Governor Raghuram Rajan on September 29, effected a more-than-expected interest rate cut of half aper cent to spur the economy. "India's WPI stayed in negative territory and the trade deficit narrowed. FDI rules were eased. We expect Q3 2015 GDP to grow 7.5per cent and 50 basis points of repo rate cuts in H1 2016," Barclays said. The April-June quarter GDP slipped to 7per cent, from 7.5per cent in the preceding quarter. Meanwhile, RBI has also lowered its economic growth forecast for the current fiscal to 7.4per cent, from its previous projection of 7.6per cent. The report further noted India's goods trade deficit was USD 9.8 billion in October, but the services trade surplus was "resilient", at USD 5.9 billion in September, "demonstrating strength of the country's external sector", it said.
Source: Business Standard
The government is likely to reintroduce the technology upgradation funds scheme (Tufs) for the textile sector. "Prime Minister Narendra Modi evinced keen interest and talked about Tufs in the last Cabinet meeting. With his special interest in textiles sector, I can say Tufs will be re-launched very soon, say, in a few months," said Santosh Kumar Gangwar, minister of state for textiles. He was speaking on the sidelines of the Texprocil award function here on Friday. Tufs was launched in early 1990s to boost investment into the textiles sector. Under the scheme, five per cent of the total investment for technology up gradation is compensated by the government. The scheme was touted to be a great success, attracting massive investment and helping revive the textiles sector. Tuff was discontinued two years ago. "You can call it a black period, which was the result of lack of initiatives of the previous government, which was wrongly attributed to us. But, we want to reintroduce it for the betterment of the textile industry," said Gangwar. The minister assured the textiles industry all possible support in future.
Source: Business Standard
The rupee depreciated by 11 paise to 66.30 against the US dollar in early trade today due to appreciation in the US currency overseas. Dealers attributed the rupee’s fall to fresh demand for the US currency from importers and banks. However, early gains in domestic stock markets capped the rupee losses, they said. The rupee ended steady at 66.19 per dollar on Friday against the American currency at the interbank Foreign Exchange in view of steady dollar in the overseas market. Meanwhile, the benchmark BSE Sensex advanced by 89.55 points, or 0.34 per cent, to 25,958.04 in early trade today.
Source: The Hindu Business Line
Even as the government gets ready for Parliament's winter session, which begins on Thursday, whether or not the constitution amendment Bill for implementation of the goods and services tax (GST) will be debated and passed in the Rajya Sabha during this session remains uncertain. A meeting of the ruling National Democratic Alliance (NDA) will be held on Tuesday to make sure the Treasury benches are on the same page. Strategy meetings will also be held for floor coordination and the sequence in which Bills will be brought in the two houses, besides an all-party meeting before the session. Among the Bills that are pending in the Rajya Sabha are the Child Labour (Prohibition and Regulation) Amendment Bill, 2012; the Real Estate (Regulation and Development) Bill, 2013 (as reported by a select committee of the Rajya Sabha); the Prevention of Corruption (Amendment) Bill, 2013, the Anti-Hijacking Bill, 2014; the GST Bill (the Constitution Amendment Bill, 2014) as passed by the Lok Sabha and reported by the select committee of the Rajya Sabha; and the Commercial Courts, Commercial Division and Commercial appellate Division of High Courts Bill, 2015 (to replace an ordinance). The Bills that are pending in the Lok Sabha include the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2015; the Bureau of Indian Standards Bill, 2015; the Carriage by Air (Amendment) Bill, 2015; the High Court and the Supreme Court Judges (Salaries and Conditions of Service) Amendment Bill, 2015; and the Electricity (Amendment) Bill, 2014.
Laws need debating
The first two days of the session will be devoted to paying tribute to B R Ambedkar, one of the founding fathers of the constitution, on his 125th birth anniversary. Since there will be no question hour on these two days, the government is hoping this will set the tone for a conciliatory mood for the rest of the session. However, how the two houses will behave from November 30 will indicate whether this session is going to be a washout or not. In the Congress, there is a view that argument and procedure - and not disruption - should be the strategy to be followed on the floor. However, with tempers rising on issues like intolerance, it might be difficult to run proceedings.
Winter session: The ice is unlikely to break
Both the Left parties and the Congress are likely to insist that a debate on intolerance introduced by them be held under a rule that entails voting. This will be strongly opposed by the government, which does not have a majority in the Upper House. It could resist all moves to have a debate, which might result in its defeat. This is especially important against the backdrop of a newly empowered Opposition alliance after its victory in the recent Bihar Assembly elections. So, rather than raucous disruption, the Opposition will make considered interventions, such as asking why the government felt an ordinance was necessary for changes in arbitration and conciliation law. The government's argument is that the new law (for which an ordinance was cleared just a week ago), will make settlement of contractual disputes between foreign companies and their Indian partners easier. But the Congress says ordinances are issued on matters of urgent public interest. There was no "urgent public interest" involved in this law. On GST, Congress leaders continue to assert that no effort has been at any outreach by government to narrow differences. They do not count informal and ceremonial meetings as substitutes for a structured meeting to thrash out substantive differences they have with the government's version of GST. However, with nearly a week to go, it is possible that a formal meeting takes place.
Source: Business Standard
After a gap of about 30 months, India and European Union (EU) will resume talks on the proposed free trade agreement (FTA), Commerce and Industry Minister Nirmala Sitharaman has said. After a gap of about 30 months, India and European Union (EU) will resume talks on the proposed free trade agreement (FTA), Commerce and Industry Minister Nirmala Sitharaman has said. “We are resuming the talks with the EU. The chief negotiators will meet soon,” Sitharaman told PTI in an interview.
Expressing disappointment and concern over the EU banning sale of around 700 pharma products, clinically tested by GVK Biosciences, India had in August deferred FTA talks with EU. Chief negotiators of both the sides were scheduled to meet in August. In May 2013, India and the 28-nation bloc failed to bridge substantial gaps on crucial issues, including data security status for IT sector. The free trade pact aimed at reducing or significantly eliminating tariffs on goods, facilitate trade in services boost investments between the two sides. When asked whether the drug ban issue has been resolved, Sitharaman said: “We have resolved it in the sense that when German Chancellor Angela Merkel came and the Prime Minister met her in Bengaluru, he had raised the issue of 700 drugs being banned. “And she has assured the Prime Minister that she will look into it and the matter will be given fair justice. We fully appreciate that and post that we have no reason to pull back”. She said that India deferred the talks because EU’s action was “unilateral” and was “not right”.
“So we have written to them (EU) and they have responded. Soon, the chief negotiators will meet,” she added. Launched in June 2007, the negotiations for the proposed Broad-based Trade and Investment Agreement have witnessed many hurdles with both sides having major differences on crucial issues. The issues include movement of professionals and data security status. Besides demanding significant duty cuts in automobiles, EU wants tax reduction in wines and spirits and dairy products and a strong intellectual property regime. The two-way commerce in goods between India and the EU stood at USD 98.5 billion in 2014-15. Talking about other FTAs which are under different stages of negotiations, Sitharaman said: “We have expedited on FTAs particularly with Australia. With Canada too, we will be taking the FTA forward”. She also said that negotiations for the Regional Comprehensive Economic Partnership (RCEP) was going full fledged. “The negotiations are happening in details. So, we are moving forward in FTAs as well as plurilaterals,” she added.
Source: The Financial Express
Business prospects of the country’s largest man-made fabric (MMF) wholesale market Surat affected due to heavy rains and floods in parts of Andra Pradesh and Tamil Nadu, including Chennai. Due to cancellation of many trains and transport services, Surat textile traders are forced to call back almost all the textile parcels moving towards Tamil Nadu and Andhra Pradesh. The buyers in Tamil Nadu place orders for saris and dress materials and other polyester fabric for Pongal festival celebrated on January 14 every year. The orders start flowing in with the end of Diwali festival. According to Market sources, around 25 percent of traders in MMF wholesale market Surat supply fabrics, including saris and dress materials to Tamil Nadu and Andhra Pradesh at this time of the year. The daily turnover is pegged at Rs 30 crore. Chairman of textile committee of Southern Gujarat Chamber of Commerce & Industry Devkishan Manghani said that Chennai is an important market for polyester fabric supply from Surat. Before Diwali, the textile market was under recession and traders were hoping for better days with Pongal festival. However, things have not improved and traders are worried. There are over 65,000 textile shops located in some 150-odd textile markets in the city, Surat. The daily turnover of the textile goods is pegged at Rs 110 crore. The weak demand in the country for polyester fabric had decreased the pre-Diwali business by almost 35 percent. According to Jay Lal, a senior office bearer of Federation of Surat Textile Traders Association, the markets in Chennai are closed for last few days and the buyers have cancelled the pre-booked orders for Pongal. There is a huge business loss for many traders in the market because of the incessant rains. They hope that things are going to be back to normal soon.
Source: Yarn and fibre
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 40.35 per barrel (bbl) on 20.11.2015. This was lower than the price of US$ 40.57 per bbl on previous publishing day of 19.11.2015.
In rupee terms, the price of Indian Basket decreased to Rs 2666.88 per bbl on 20.11.2015 as compared to Rs 2681.98 per bbl on 19.11.2015. Rupee closed stronger at Rs 66.09 per US$ on 20.11.2015 as against Rs 66.11 per US$ on 19.11.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on November 20, 2015 (Previous trading day i.e. 19.11.2015) |
Pricing Fortnight for 16.11.2015 (Oct 29 to Nov 10, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
40.35 (40.57) |
45.58 |
|
(Rs/bbl |
2666.88 (2681.98) |
2993.24 |
|
|
Exchange Rate |
(Rs/$) |
66.09 (66.11) |
65.67 |
Source: Ministry of Textiles
After almost five decades of having diplomatic ties, India and Singapore will become strategic partners for the first time on Monday. The partnership will encompass all aspects of bilateral ties from expansion of defenc e cooperation, enhancement of trade and investment and strengthening of regional relationship with the Association of Southeast Asian Nations (ASEAN). The decision to sign the Strategic Partnership Agreement with Singapore was taken in August 2014 based on a ‘5S Plank’. Since then both Prime Minister Narendra Modi and Singapore Prime Minister Lee Hsien Loong have been continuously discussing the contours of such a pact as they planned to take their relationship beyond just business and trade. “It is crucial to have such a pact with Singapore considering its strategic location. Not only will it enhance India’s ‘Look East’ policy, but it will also give India a greater voice in the ASEAN region at large,” an official told Business Line. This is also done keeping in mind the increasing presence of China in that region and the escalation of dispute in the South China Sea region, the official added. As a result, Modi’s visit to Singapore assumes importance. The pact will be signed with both leaders having a summit-level dialogue where all issues are expected to be discussed, with a special focus on India’s overall strategy in the Indian Ocean region. “Singapore is an integral part of our Look East Policy and it was announced from there by our former Prime Minister Narasimha Rao. Singapore remains one of our important defence exporters. Besides, they have been trying to act as a bridge between India and China and all these is linked to the entire Indian Ocean strategy that India is now working on,” highlighted Sanjaya Baru, Director for Geo-economics and Strategy, at the London-based International Institute of Strategic Studies (IISS). Recently, at a meeting of the Fourth Joint Commission, which was co-chaired by External Affairs Minister Sushma Swaraj and her Singaporean counterpart Vivian Balakrishnan, issues such as maritime cooperation, trade ties and cyber security were discussed. While in Singapore, Modi is also expected to deliver the prestigious ‘Singapore Lecture’ at the Institute of South East Asian Studies. Singapore has emerged as the second largest source of FDI amounting to $35.9 billion as of June 2015, which is 14 per cent of India’s total FDI inflow. India also has a Comprehensive Economic Cooperation Agreement with Singapore with bilateral trade reaching $17.1 billion in 2014-15.
Source: Business Line
Delegation level talks began after the ceremonial welcome, the guard of honour and the one-on-one meeting between Modi and Najib Prime Minister Narendra Modi today held talks with his Malaysian counterpart Najib Razak on ways to ramp up bilateral cooperation with the focus on building a "well-rounded partnership". On the third and final day of his Malaysia visit, Modi began bilateral programmes with a ceremonial welcome here. Modi was warmly embraced by Najib as he got out of his car at Perdana square in Putrajaya, the sprawling administrative capital on the outskirts of Kuala Lumpur. Modi, dressed in a Bandhgala, inspected a guard of honour and was introduced by Najib to Malaysian Ministers and officials. Modi then held a one-on-one meeting with Najib. Delegation level talks began after the ceremonial welcome, the guard of honour and the one-on-one meeting between Modi and Najib. Defence and security were key areas in which both countries were looking to ramp up bilateral cooperation. Modi has said Malaysia is at the core of the government's 'Act East Policy'. India has has a strategic partnership with Malaysia since 2010.
Source: Business Standard
Leaders from the Association of Southeast Asian Nations unveiled with fanfare another road map to a common community for the next decade even as the bloc missed targets for economic integration this year. The 10 leaders signed a document declaring the establishment of an Asean Community from December 31, and another titled "Asean 2025: Forging Together Ahead" that laid out the vision for the next 10 years. It aims to create a community that is "politically cohesive, economically integrated, and socially responsible." Less was said about the end-2015 targets for Asean Economic Community, whose goal was to allow free movement of goods, services and skilled labor as part of a European Union-style integration plan, without a common currency. Asean will now attempt to complete measures unfinished in an eight-year plan by the end of 2016 after missing the end-2015 goal. "It will not lead to a 'big bang' moment in terms of regional integration" even as the formalization of the community is a significant step, said Guy Harvey-Samuel, chief executive officer of HSBC Holdings Plc in Singapore. "Instead, we are likely to see a slow initial burn that will become increasingly brighter as integration begins to get traction." Asean leaders adopted a blueprint for the AEC in 2007, where they aimed to create a single market that would include allowing the free flow of investments and capital across a region that is home to more than 600 million people. That would make it a larger trading bloc than the EU and a potential economic and political counter balance to China. An Asean scorecard this month showed as of end-October, the grouping had implemented 79.5 per cent of measures committed under the AEC. Among prioritized measures, the rate was 92.7 per cent. The Asean 2025 report stated the "immediate priority is to complete the implementation of measures unfinished under the AEC Blueprint 2015 by end-2016." "In practice, we have already virtually eliminated tariff barriers between us under the Asean Free Trade Area," Malaysian Prime Minister Najib Razak said in a speech Sunday. "We now have to ensure that we create a truly single market and production base, with freer movement of goods and services." The signing ceremony Sunday included musical performances, a video montage of past meetings, a Technicolor light show and the leaders beating on traditional drums simultaneously to signify unity.
Own Interests
Each Asean nation is still focused on its own interests ahead of the AEC and there appears to be little popular support or political appetite for deeper integration, or funding for it, said Michael Every, head of Asia Pacific financial markets research at Rabobank Group in Hong Kong. "Asean specializes in pointless symbolism," said Every, who wrote a paper in October on the AEC's lack of progress. "With the European Union, everyone understands what the European dream is, even when it's not working out. But with Asean, there is no concept of what the Asean dream is." Intra-Asean trade represents only about 26 per cent of the total, compared with about 60 per cent for the EU, according to estimates by Rabobank. Asean's net exports account for between 6 per cent and 7 per cent of gross domestic product, compared with about 4 per cent for the Eurozone, it said. "In other words, most Asean economies still export far more to markets such as Japan, China, the US and Europe than they do to each other," Every said. "Unlike the European Union, Asean simply doesn't have any kind of political vision or shared memory of historical trauma that must be overcome by a united regional community."
Trade Accords
The region is pressing ahead with measures to boost trade even as it faces challenges in reaching an agreement. The Regional Comprehensive Economic Partnership, a 16-nation trade accord, has gone through 10 rounds of negotiations and achieved "substantial" progress, Najib said Sunday. It includes the 10 Asean nations, China, Japan, India, South Korea, Australia and New Zealand. The accord is a competing vision to the US-led Trans- Pacific Partnership for an Asia-Pacific trade bloc, reflecting the struggle for dominance by economic powers over a region that is increasingly a driver of global growth. A dozen Pacific-rim nations came to agreement on the TPP in October, more than five years in the making. "Considering the challenges faced and the value of constructive engagements, more time is needed to conclude the negotiations" of the RCEP, Najib said. Participating countries "request our negotiators to intensify their efforts to conclude and achieve a mutually beneficial and high quality agreement in 2016," he said.
Source: Business Standard
Amidst India's concerns over increasing Chinese presence there, the Maldives today said China's economic presence is felt in almost every corner of the world. Amidst India’s concerns over increasing Chinese presence there, the Maldives today said China’s economic presence is felt in almost every corner of the world but asserted that it should not “worry” India, with whom its ties will not be “shaken” by Chinese investors. On a visit here during which she held talks with her Indian counterpart Sushma Swaraj, Maldivian Foreign Minister Duniya Maumoon said that India-Maldives ties have “sufficient depth” and that her country discusses with India almost all issues, including the political situation. “China’s economic presence is felt in almost every corner of the world; from Bombay to London, and New York to Sydney. The Maldives is a country that is open for business, particularly in the infrastructure sector. There are Chinese investors in the Maldives, who have brought capital with them to invest in large projects. That should not worry India. “The Maldives’ relations with India has sufficient depth and will not be shaken by the presence of Chinese investors in the Maldives,” Maumoon told PTI in an interview. On whether the bitterness which India and the Maldives have witnessed in their ties in recent past has gone, the Foreign Minister, who is daughter of former Maldivian President Maumoon Abdul Gayoom, said as close neighbours, and members of SAARC, there will always be points that require clarifications from each other and asserted that their relationship was “robust and strong”. “We discuss with India almost all the issues, including the political situation in the Maldives. And unlike the West, India understands that democracy consolidating is a process that is full of challenges. The challenges of developing institution,” she said and added that the Maldives and India enjoy a special relationship. Ali, 28, is a former London Underground worker who was jailed last year after he was found in possession of bomb-making instructions and al-Qaeda propaganda. Saiful Islam is a radical preacher from Luton who has praised slain al-Qaeda chief Osama bin Laden and warned of terror attacks in Britain. A fourth extremist from the UK, who cannot be named for legal reasons, travelled to Belgium in 2012 to initiate Sharia4Belgium members in “military tactics”. Some 44 other Sharia4Belgium members were convicted at the same time by a court in Antwerp. However, the vast majority of the defendants had to be sentenced in their absence as they were fighting, or had been killed, in Syria. More than 500 Belgians have travelled to Syria and Iraq to join jihadists — the highest proportion per head of population of any western nation.
Source: Business Standard
Missioni, a high-end Italian fashion house based in Varese, and known for its colorful knitwear designs was founded by Ottavio and Rosita Missoni in 1953. Emilo Carbonera Giani, Chief Operating Officer said that the horrific terror attacks in Paris have affected several businesses including the luxury fashion house. He also added that the Missoni store's sales have fallen sharply as it was also closed for some days because of the deadly attacks. It's clearly a tragedy, one can be cynical in a retail, luxury perspective, and it will impact the sales in Europe. Maybe they can see an improvement in the Middle Eastern market sales, as a certain clientele who come to Paris to shop will now shop locally. The Italian brand operates in a single or a two store strategy in most of the countries and cities like Paris, Munich, Delhi, and London except Italy where it has several stores. The company's revenue is 50:50 ratio from retail and own brand stores. Missoni opened its first and only store in Delhi at the DLF Emporio mall in 2013 through the franchise route and is planning open the second store in the next two years. India is not their first market but an important one like China which is their next destination, said Giani. After India, Singapore and Indonesia, Missoni next market stop is China, where the luxury market is booming but Missoni is looking at multi-brand stores in China rather than mono brand stores. China is facing a difficult economic situation, so they will enter the market in a different way through multi brand stores and eventually get into the mono brand stores, they still consider China as a very important market as the Chinese consumers are the biggest group of luxury market. Giani went on to add that Chinese market is very cluttered and flushed with luxury brands. The reason Missoni took a long time to enter the market as it was waiting for it to space out. Missoni has its own factory that is fully integrated, from growing yarn, the raw materials to product design to manufacturing. It is a market leader in knitwear clothing and has no competition in this kind of product from both technical and design point of view. The consolidated revenue of Missoni is euros 160 million growing at the rate of 5 percent, as per the financials of the company this year 2014-15, out of which Europe accounts the largest 30 percent to the revenue, Italy contributes 20 percent, Japan, United States and Middle East accounts 10 percent each to the revenue, Korea is 5 percent and the rest of world like India, Singapore, Indonesia and others account for the rest 15 percent of the total revenue of the company.
Source: Yarn and fibre
