Thursday, November 30, 2023

Tag: Textile

Foreclosed Turkish textile revived by creditor

Two years after it was abandoned by its former owners, the bankrupt Else Addis Industrial Development Plc is now in a good shape and making a substantial profit under the management of the creditor Development Bank of Ethiopia (DBE), The Reporter has learnt.

Chinese sweater maker commences operation

Lonto Garment PLC, one of the subsidiaries of the Chinese Shangtex Holding, has commenced production with its newly installed sweater manufacturing plant in Ethiopia.

Companies to invest USD 2 bln in textile sector

The Ethiopian Investment Commission (EIC) this week announced that various foreign companies have pledged to invest USD two billion in the textile and garment manufacturing sector.

Chinese textile firm to set up shop in Dire Dawa

A Chinese company, Wuxi Textiles is set to build a textile factory in Dire Dawa City with an investment of USD 220 million, The...

H&M’s Ethiopian made sweater ignites controversy

Sweden’s multinational clothing company, H&M (Hennes & Mauritz AB), one of the world’s most successful clothing companies is facing a backlash for featuring a young Sweden-based Kenyan model in one of its catalogues with a sweater emblazoned with the words “coolest monkey in the jungle”, that was allegedly sourced from an Ethiopian textile manufacturer.