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Indonesia textile giant to lay off workers as lenders deny deal

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Bloomberg

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March 1, 2025

Indonesian textile giant PT Sri Rejeki Isman will lay off thousands of workers as it prepares to shutter operations after failing to reach agreement with creditors.

Bloomberg

Creditors of Sritex, as the garment maker is known, turned down a going concern request during a court-supervised meeting in Semarang, Central Java province, on Friday, the company said in a statement. They agreed to form a committee to settle the bankrupt company’s assets, it added.

Sritex will work to ensure that all affected workers’ rights are met, said President Director Iwan Kurniawan Lukminto.

Nearly 11,000 workers will be laid-off as Sritex prepares to shut down factories in the province from March 1, news outlets Bloomberg Technoz and CNBC Indonesia reported earlier Friday, citing letters from insolvency administrators.

The closing of one of Indonesia’s biggest garment makers comes despite attempts by President Prabowo Subianto to save the bankrupt company, including by allowing it to continue import-export operations. Sritex is among many Indonesian textile companies struggling from a flood of cheaper clothes imported from China.

Its layoffs come as Indonesia, home to the world’s largest Muslim population, is heading into the monthlong Ramadan festive season.

Sritex, which has sewn clothes for global brands including H&M, Uniqlo and Zara, was declared bankrupt by a Semarang commercial court in October after it fell into distress during the pandemic as orders slumped. The decision was upheld by the Supreme Court in December.

The company had total liabilities of about $1.6 billion at the end of last September, according to its latest financial report. 
 



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Oscars’ red carpet features sculptural and shiny gowns and some props

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Reuters

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March 3, 2025

“Wicked” star Ariana Grande walked the Oscars red carpet on Sunday in a sculptural flared pink top and a tulle skirt by Schiaparelli, one of several actors to make bold fashion statements.

Reuters

Whoopi Goldberg wore a shiny blue gown with a flared skirt, while British actress Yasmin Finney sported a black dress featuring feathery attachments that shot over her head.

“A Complete Unknown” star Elle Fanning chose a lacy white gown with a full skirt and black belt, while “The Brutalist” best supporting actress nominee Felicity Jones wore a silver dress with slits and a tie around the waist.

Demi Moore, favored to win best actress for “The Substance,” won a sparkling silver gown with a train flowing behind her.

Zoe Saldana, a favorite to win best supporting actress for her turn in “Emilia Perez,” wore a multi-tiered maroon dress with a sparkling top and long gloves on her arms.

“A Complete Unknown” best supporting actress nominee Monica Barbaro won a voluminous high-waisted pink skirt with a sparkly top.
Halle Berry wore a strapless silver gown with shiny small tiles running down the dress, while Gal Gadot chose a bright red gown with a full skirt.

Among the men, the black tuxedo was popular and Oscars host Conan O’Brien sported one. But Jeff Goldblum picked a white jacket and a floral purple shirt with purple flowers attached to his lapel.

“A Complete Unknown” best actor nominee Timothee Chalamet chose a lemon yellow suit and shirt.

Colman Domingo, nominated for best actor for “Sing Sing,” amped up his look with a bright red jacket and shirt and black lapels to go with the black trousers.

Comedian Bowen Yang wore a pink shirt and an embroidered leather jacket with no tie.

The creators behind the animated film “Wallace & Gromit: Vengeance Most Fowl” carried props related to their film, and one of the directors of the documentary feature about Ukraine, “Porcelain War,” carried a small dog in his arms.

© Thomson Reuters 2025 All rights reserved.



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L’Oreal opens new North America Research & Innovation Center

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L’Oréal Groupe has officially opened its North America Research & Innovation (R&I) Center in Clark, New Jersey. 

L’Oreal opens new North America Research & Innovation Center. – L’Oreal

Representing a $160 million investment, the nearly 250,000-square-foot facility is L’Oréal’s largest R&I center outside of France and underscores its long-term commitment to the U.S. market, economy, and workforce. Construction of the center began in 2022, while full-scale operations commenced in February. 

The R&I Center will play a key role in developing L’Oréal’s American brands, including Maybelline, CeraVe, Redken, and Kiehl’s. Notable features of the facility include a 26,000-square-foot modular laboratory, a consumer co-creation center that accommodates up to 400 daily participants for product testing, and an on-site mini factory for scaling final formulations before full production.

“The U.S. plays a defining role in shaping the future of beauty. With its diverse and demanding consumers and world-leading innovation ecosystem, it is the ideal environment to drive our vision forward,” said Barbara Lavernos, deputy CEO of L’Oréal Groupe, in charge of research, innovation, and technology.

“This center embodies L’Oréal’s uniquely end-to-end innovation model, from upstream Advanced Research on new breakthrough ingredients to the downstream development of formulas ready for scale-up to deliver high-performance, safe, and responsible beauty solutions.”

The facility joins L’Oréal’s global R&I hubs in France, Brazil, South Africa, India, China, and Japan. It will employ more than 600 scientists, engineers, and researchers. The center will also collaborate with leading academic institutions, biotech firms, and startups to drive advancements in sustainability, inclusivity, and personalization across skin tones, hair types, and beauty preferences.

“The grand opening of our research center in New Jersey represents a transformative new chapter in L’Oréal’s storied history in the United States,” added David Greenberg, CEO of L’Oréal USA and president of the North America zones. 

“This investment will enable us to pioneer groundbreaking product innovations for American consumers that anticipate global market needs. And we’re not simply creating products; we’re building a prosperous future of economic growth, powered by American talent.”

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Balenciaga launches Ambassador Fanclub Series collection

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Balenciaga launched on Friday a Brand Ambassador Fanclub Series, featuring a lineup of global icons, including Isabelle Huppert, Kim Kardashian, Michelle Yeoh, Nicole Kidman, and PP Krit Amnuaydechkorn.

Balenciaga launches Ambassador Fanclub Series. – Balenciaga

The series includes T-shirts in Balenciaga’s signature shrunk and boxy fits, alongside a ribbed tank top available in red, white, black, and blue.

As part of the campaign, each celebrity ambassador captured a selfie wearing their corresponding t-shirts, first unveiled as part of the Balenciaga’s Fall 25 collection.

The collection draws inspiration from vintage fanclub merchandise, presenting aged figurative artwork that pays homage to the brand’s ambassadors. Each piece features the ambassador’s printed signature on the back, mimicking the effect of a hand-signed autograph. 

The t-shirts retail for $825 and are now available for sale on balenciaga.com. 

Copyright © 2025 FashionNetwork.com All rights reserved.



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