Fri, Sep 15, 2023
US retail sales increase for the 5th consecutive month, what is the US connection of textile? What is the benefit of increasing retail sales in US?
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Tue, Aug 01, 2023
Part of Welspun Group, Welspun Enterprises Ltd (WEL) is an infrastructure development company focusing on the road, water and wastewater segments.
Wed, Apr 05, 2023
The government has estimated that the textile industry may grow by three times in the next eight years and aim to make it a $300 billion industry by 2030 from $100 billion at present.
Wed, Dec 21, 2016
Shares of the company traded at their 13-month lows in August this year after Target Corp, one of its largest customers, cut ties with the company citing poor quality cotton in its orders.
Fri, Sep 23, 2016
Welspun India today said in release, "It has secured the 'Interactive Textile Article and Augmented Reality System' patent which protects the company's new product line TILT."
Sat, Sep 10, 2016
Wal-Mart said it will not cut ties with Welspun but will work with them to implement strong controls and better label the products.
Fri, Aug 26, 2016
Welspun India on Friday said it has appointed consultancy firm Ernst & Young (EY) to look into alleged lapses in its products supply after the US-based Target Corporation terminated contract with the textiles maker.
Thu, Aug 25, 2016
The problem for Welspun India has already gone beyond Target Corp. Several retailers, as mentioned above have already started questioning their credibility and have either launched or are planning to launch an audit into their products.
Welspun India is appointing an external auditor 'one of the Big Four' to look into alleged lapses in its products supplied to clients and expecting the process to get completed in about six to eight weeks, as US-based Target Corp terminated contract with the textiles maker.
US retailer Bed Bath & Beyond on Wednesday said it ordered an external audit of textiles from Welspun India, after Target Corp last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years.
Wed, Aug 24, 2016
Welspun India's share took a beatin after Minneapolis-based Target Corp, one of Welspun India's largest customers, cut ties with the company, accusing it of using lower quality cotton for making bedsheets between August 2014 and July 2016.
Tue, Aug 23, 2016
Nearly, 44,34,130 shares were sold from the investors.
Mon, Aug 22, 2016
"We have initiated immediate actions to investigate the root cause. We are appointing external auditor (one of the Big Four) to audit our suply systems and processos. This is an issue of highest priority for us and we will take all necessary steps to dissolve it," Welspun India said in the statement.
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