Artistic Milliners (AM) celebrates the strategic expansion of its nearshoring operations in the Western Hemisphere with the purchase of VF’s Dickies de Parras S. de RL de CV facility in Parras, Mexico, as per a press release.
This investment means AM can immediately begin upgrading the denim factory in Mexico on an expedited timeline and can soon offer even more services to retailers and brands looking to manufacture closer to the United States.
The Parras facility, which first opened in 1996, is a vast complex spread over 10 acres consisting of two buildings. Plans call for a rapid build-out of Artistic Milliners Mexico operations over the next six months to modernise the Parras facility.
The acquisition of the VF factory complements AM’s growing network of factories in Guatemala and Mexico. At the hub of this growing nearshoring network are SFI-Los Angeles, the design centre and denim laundry AM acquired in 2020.
Blue Band celebrates 100 years
In celebration of its historic 100-year milestone, Blue Band launched a power-packed consumer promotion, offering Pakistani consumers a unique opportunity to join the celebrations, as per a press release.
With the launch of the Limited Edition Pack, a purchase-linked consumer promotion was introduced in Pakistan. With every purchase of the 100 Years Limited Edition pack, consumers had the chance to scan the pack and enter a lucky draw, offering an array of prizes, ranging from an SUV Car, Gold Coins, Scholarships, Bicycles, Electronic Appliances, School Bags, Pencil Cases, etc.
This promotion captivated the nation, resulting in overwhelming entries from enthusiastic participants across Pakistan. With over 5,000 winners spread across more than 70 towns in Pakistan, Blue Band reaffirmed its status as a popular choice for breakfast among Pakistani consumers.
OICCI, UNDP join forces
The Overseas Investors Chamber of Commerce & Industry (OICCI) has partnered with the United Nations Development Programme (UNDP) Pakistan to advance the vision of a more sustainable and inclusive Pakistan, according to a press release.
This alliance is set to spearhead a series of initiatives focusing on gender equality, diversity, inclusion, and social impact investments, reflecting both organisations’ commitment to the United Nations Sustainable Development Goals.
During the memorandum of understanding signing ceremony, OICCI CEO/Secretary General M. Abdul Aleem stated, “Together with UNDP, we are committed to leveraging our collective expertise to create impactful research reports, advocacy campaigns, and knowledge-sharing events.”
In his remarks, UNDP Pakistan Resident Representative Dr Samuel Rizk said, “The bankability of Pakistan is increasing, and this collaboration is a testament that businesses can be both profitable and socially responsible.”
Jazz and Associated Companies Report
Jazz, JazzCash, Mobilink Microfinance Bank, and digital services operating under the VEON Group in Pakistan, reported an impressive 27.7 per cent year-over-year revenue growth in USD terms for the second quarter of 2024, as per a press release.
The contributions from Pakistan, including Jazz, JazzCash, and Mobilink Microfinance Bank, accounted for nearly one-third of the Group’s $1.9 billion revenue in the first half of 2024.
As of Q2 2024, Jazz serves 71.4m cellular subscribers and 63.3m monthly active users of digital services, nearly a quarter of whom are non-Jazz users. Jazz maintains a dominant 45pc revenue market share in the cellular services market, with a 17pc CAGR in revenue growth from 2021 to 2023.
Published in Dawn, The Business and Finance Weekly, August 12th, 2024
