Project to build a new textile waste value chain in India

Basic apparel maker Gildan Activewear has acquired Phoenix Sanford, LLC, the parent company of Frontier Yarns for a total cash consideration of about US$168m.

The global apparel market is now forecast (post-Covid-19) to grow at a CAGR of 1.5% from 2019 to 2023 to reach US$2.110bn by 2023.