Interloop – a Pakistan-based leading knitting and apparel manufacturing bigwig – has announced its plan of investing US $ 300 million to expand capacities. The expansion is in lines of its ‘Vision 2025’ Interloop disclosed recently.
The investment will make the Pakistani hosiery giant add a knitted apparel plant, an activewear plant, a denim fabric mill, a hosiery plant which will be its 6th plant, and enhance its spinning and yarn dyeing capacity during the next 5 years.
As part of its 2025 Vision Rollout, Interloop will also be adding further capacity by investing in a fully vertical apparel facility to give customers complete supply chain transparency, as well as taking the company’s annual capacity to 40 million pieces of apparel, apart from the capacity it’s doing for socks and legging.
It’s worth noting here that Interloop incepted in 1992 with just 10 knitting machines and has grown into one of the world’s largest hosiery manufacturers and a vertically integrated company.
With the new hosiery plant, Interloop plans to produce 1 billion socks by 2026 from 700 million pieces in 2021 and will expand its spinning and yarn-dyeing capacity in new blends and unique finishes with key collaborations with brands and retailers.
The investment will further add more employment to current 24,000+ workforce and will help reach its turnover to US $ 700 million from current US $ 300 million.