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Vietnamese garment-textile firm Viet Tien Garment JSC has set a target of grossing $1 billion in export turnover by 2020 with an annual average growth of 10 per cent, according to its director general Bui Van Tien. The company will take steps to improve the efficiency of its projects, expand investment and shift toward green production to realise this goal. 

Creativity reigned at the recently concluded Pure London, UK’s leading trade fashion buying event, with a celebration of global fashion while the key takeaways included sustainability, experimentation, personalisation, collaboration and newness. Pure London provided an arena for networking which lead to creative and exciting collaborations.

Aquafil, a leading player in the production of polyamide 6 (nylon 6), has signed an agreement with Invista, one of the world’s largest integrated producers of chemical intermediates, polymers and fibres, to acquire certain tangible and intangible assets related to Invista’s nylon 6 business activity in Asia Pacific. The closing is expected on March 29, 2018.

The Asian Development Bank (ADB) recently signed an agreement with Bangladesh’s Eastern Bank Ltd (EBL) to provide a $20-million loan to help improve standards and quality in Bangladesh's textile and garment sector. The loan will be used to finance socially and environmentally sustainable projects, specifically, the construction or expansion of factories. 

To tap the strong demand growth of VSF (viscose staple fibre) and maintain its leadership position, Grasim, a part of Aditya Birla Group, will increase its total VSF capacity by 58 per cent to 788 KTPA. This is in addition to the existing plan at the cost of Rs 802 crore. The company has also committed a fresh capex of Rs 3,523 crore for capacity expansion.

French designer Christian Louboutin may lose the right to trademark his red-soled stilletto heels after an advocate general at the European Court of Justice said the trademark on ‘the colour red (Pantone 18 1663TP) applied to the sole of a shoe’ may be invalid as it combines colour and shape. At the centre of the argument is whether ‘shape’ includes colour.