To meet the increased demand, Pakistan’s company Interloop Limited aims to invest $300 million in expanding its production capacity and establishing an apparel factory.
“By FY26, the management hopes to have doubled the company’s sales.” Over the next three years, we expect revenue growth of 46 percent and profits growth of 41 percent,” stated Muhammad Maqsood, Interloop’s President/Group CFO.
ILP, Pakistan’s largest textile company, has enormous development potential as a result of its continual expansion and diversification of its product range. Nike, Target, Puma, and Adidas are among the company’s biggest customers in the hosiery category, accounting for over 90% of its sales. It provides these stores with socks and leggings. More than half of the export earnings comes from these four clients. With the introduction of vaccination in the United States and Europe, demand is likely to stay stable in the coming months. This, together with order diversion to Pakistan as a result of the US-China trade war and a movement in orders from India and Bangladesh during the pandemic, would certainly aid ILP in achieving long-term development.
“What is particularly notable is that ILP has first refusal based on strong commitment and good quality, providing it a distinct competitive advantage,” Maqsood added. Maqsood stated that the firm has continued to expand in order to meet increased demand and expand its presence. “To emphasize, the denim expansion is on schedule and will be completed in 4QFY21. Because the firm is working at maximum rated capacity in the hosiery category, capacity will be increased in stages beginning in September 2021.
Management of Interloop said that they are committed to ESG principles. They’ve put a lot of money into renewable energy to decrease their carbon footprint and water usage. Furthermore, the firm is significantly investing in cotton sustainability standards. In addition, the firm is making significant investments in cotton sustainability standards.