Interloop Limited
{{Short description|Pakistani textile manufacturer}}
{{Infobox company
| name = Interloop Limited
| native_name =
| native_name_lang =
| logo = Interloop logo.png
| type = Public
| traded_as = {{karse|ILP}}
KSE 100 component
| founded = {{start date and age|1992}}
| founders = Musadaq Zulqarnain
Navid Fazil
Tariq Rashid
Jahanzeb Khan Banth
| location_city = Faislabad
| location_country = Pakistan
| area_served = Worldwide
| key_people = Musadaq Zulqarnain (chairman)
Navid Fazil (CEO)
| industry = Textile
| genre = Business-to-business
| products = Yarns, hosiery, denim, and apparel
| revenue = {{Increase}} {{PKRConvert|119.200|b}}
| revenue_year = 2023
| operating_income = {{Increase}} {{PKRConvert|27.111|b}}
| income_year = 2023
| net_income = {{increase}} {{PKRConvert|20.171|b}}
| net_income_year = 2023
| equity = {{Increase}} {{PKRConvert|43.806|b}}
| equity_year = 2023
| assets = {{Increase}} {{PKRConvert|125.244|b}}
| assets_year = 2023
| num_employees = 10,838
| num_employees_year = 2023
| website = {{URL|interloop-pk.com}}
| footnotes = Financials {{as of|2023|6|30|lc=y}}{{cite web|title=Interloop Limited Annual Report 2023|url=https://financials.psx.com.pk/lib/DownloadPDF.php?id=215316 |access-date=18 May 2024}}
}}
Interloop Limited is a Pakistani textile manufacturer based in Faisalabad.{{cite news|url=https://profit.pakistantoday.com.pk/2018/11/19/interloop-targets-pakistans-largest-ever-private-sector-ipo/|title=Interloop targeting Pakistan's largest-ever private sector IPO|work=Pakistan Today}} It supplies socks and leggings to retailers consisting of Nike, Adidas, H&M, Puma, Levi's, Reebok and Target.{{cite news|url=https://www.forbes.com/sites/simonmainwaring/2019/04/02/purpose-at-work-how-interloop-activates-purpose-to-drive-b2b-growth/#78d58ccc6153|title=Purpose At Work: How Interloop Activates Purpose To Drive B2B Growth|work=Forbes}}{{cite news|url=https://www.bloomberg.com/news/articles/2018-11-09/sock-supplier-for-nike-plans-biggest-pakistan-private-sector-ipo|title=Nike Sock Supplier Plans Biggest Pakistan Private Sector IPO|work=Bloomberg}}
The company has five hosiery manufacturing divisions, located in Pakistan, Bangladesh and Sri Lanka.{{cite news|url=https://fp.brecorder.com/2017/04/20170427173324/|title=Interloop Limited – A complete vertically integrated company|work=Business Recorder}}
History
Interloop was established in 1992 as a B2B manufacturer of socks and leggings by brothers Musadaq Zulqarnain and Navid Fazil along with Jahanzeb Khan Banth. After eight years, a second production unit was opened with 400 knitting machines installed.
In 2003, Interloop opened its first vertically integrated hosiery plant in Faisalabad in an effort to make its supply chain management more efficient.
In 2005, the company opened their second hosiery plant, and launched a yarn dying division a year later, also in Faisalabad.
The company was converted into public limited company on July 18, 2008 from being private limited.
In March 2019, Interloop raised more than 5 billion pkr through Pakistan's largest private sector IPO, placing it amongst the top 50 companies listed on the Pakistan Stock Exchange by market capitalization.{{cite news|url=https://www.brecorder.com/2019/03/19/481782/interloop-knocks-the-socks-off/|title=Interloop: knocks the socks off!|work=Business Recorder}}{{cite news|url=https://tribune.com.pk/story/1927532/2-interloop-raise-rs4-9b-psx-week/?amp=1|title=Interloop to raise Rs4.9b at PSX this week|work=Express Tribune}}{{cite news|url=https://www.thenews.com.pk/print/443994-interloop-ipo-raises-rs5-025bln|title=Interloop IPO raises Rs5.025bln|work=The News International}}
See also
References
{{reflist}}
External links
- {{official website|https://www.interloop-pk.com}}
{{KSE 100}}
Category:Multinational companies headquartered in Pakistan
Category:Textile companies of Pakistan
Category:Manufacturing companies established in 1992
Category:2019 initial public offerings
Category:Companies based in Faisalabad
Category:Companies listed on the Pakistan Stock Exchange