Welspun India Egyptian Cotton
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Welspun to closely monitor its Egyptian cotton business
The Egyptian cotton imbroglio hit the company hard and led to a net loss in the quarter ended September 30 from an otherwise healthy profit last year.
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Too Early To Say If US Cases Will Be 'Class Action': Welspun India
Welspun India said the two cases filed against it in the US over bed sheets supplied not being 100 per cent Egyptian cotton are at preliminary stages and it cannot be determined at present whether they will even be permitted to proceed as class actions.
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US Consumers Sue Welspun On Cheap Sheets As Fallout Widens
Two class-action lawsuits have been filed against Welspun India Ltd. that allege the company fraudulently labeled its bed sheets and towels as premium Egyptian cotton, the latest setback for the supplier after Target Corp. cut ties with the manufacturer over the same issue.
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Wal-Mart Stops Selling Egyptian Cotton Sheets Made By Welspun
Wal-Mart Stores Inc said it will stop selling Egyptian cotton sheets made by Welspun India after the Indian manufacturer was unable to assure them the products were authentic.
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Welspun India Faces New Probe From Bed Bath, Shares Pressured
US retailer Bed Bath & Beyond said it ordered an external audit of textiles from Welspun India, putting more pressure on the embattled Indian bedding and towel maker that has seen nearly half its market value wiped out this week.
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Welspun India Scandal Follows Years Of Plummeting Egyptian Cotton Output
A scandal involving the alleged sale of falsely labeled Egyptian cotton products by an Indian textile manufacturer to U.S. big box retailers highlights a stiff reality facing the high-end fiber market: there isn't much Egyptian cotton any more.
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More US Retailers Probing Welspun Over Alleged Phony Egyptian Cotton
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.
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IKEA To Continue Doing Business With Welspun India, Awaits Sales Probe
Welspun's shares have plummeted this week after U.S. big-box retailer Target terminated business with the firm, saying it had passed off cheap sheets as premium Egyptian cotton.
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Welspun India Plummets Again On Contagion Fears In Cotton Sheet Dispute
Welspun India's shares plunged 20 per cent for a second day on Tuesday, as the fallout from Target Corp's decision to terminate business with the firm for passing off cheap sheets as premium Egyptian cotton escalated.
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Target Severs Ties With Welspun Over Egyptian-Cotton Dispute
Target is ending all business with Welspun India, one of the world's biggest textile manufacturers, after saying the supplier was sending it phony Egyptian cotton sheets.
-
Welspun to closely monitor its Egyptian cotton business
The Egyptian cotton imbroglio hit the company hard and led to a net loss in the quarter ended September 30 from an otherwise healthy profit last year.
-
Too Early To Say If US Cases Will Be 'Class Action': Welspun India
Welspun India said the two cases filed against it in the US over bed sheets supplied not being 100 per cent Egyptian cotton are at preliminary stages and it cannot be determined at present whether they will even be permitted to proceed as class actions.
-
US Consumers Sue Welspun On Cheap Sheets As Fallout Widens
Two class-action lawsuits have been filed against Welspun India Ltd. that allege the company fraudulently labeled its bed sheets and towels as premium Egyptian cotton, the latest setback for the supplier after Target Corp. cut ties with the manufacturer over the same issue.
-
Wal-Mart Stops Selling Egyptian Cotton Sheets Made By Welspun
Wal-Mart Stores Inc said it will stop selling Egyptian cotton sheets made by Welspun India after the Indian manufacturer was unable to assure them the products were authentic.
-
Welspun India Faces New Probe From Bed Bath, Shares Pressured
US retailer Bed Bath & Beyond said it ordered an external audit of textiles from Welspun India, putting more pressure on the embattled Indian bedding and towel maker that has seen nearly half its market value wiped out this week.
-
Welspun India Scandal Follows Years Of Plummeting Egyptian Cotton Output
A scandal involving the alleged sale of falsely labeled Egyptian cotton products by an Indian textile manufacturer to U.S. big box retailers highlights a stiff reality facing the high-end fiber market: there isn't much Egyptian cotton any more.
-
More US Retailers Probing Welspun Over Alleged Phony Egyptian Cotton
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.
-
IKEA To Continue Doing Business With Welspun India, Awaits Sales Probe
Welspun's shares have plummeted this week after U.S. big-box retailer Target terminated business with the firm, saying it had passed off cheap sheets as premium Egyptian cotton.
-
Welspun India Plummets Again On Contagion Fears In Cotton Sheet Dispute
Welspun India's shares plunged 20 per cent for a second day on Tuesday, as the fallout from Target Corp's decision to terminate business with the firm for passing off cheap sheets as premium Egyptian cotton escalated.
-
Target Severs Ties With Welspun Over Egyptian-Cotton Dispute
Target is ending all business with Welspun India, one of the world's biggest textile manufacturers, after saying the supplier was sending it phony Egyptian cotton sheets.
