Karachi, Interloop Limited informed Pakistan Stock Exchange about transaction of shares of the company. 162,500 shares @ Rs. 40.47 per share were bought from the market on May 13, 2019 through CDC.
Interloop Limited, launched with 10 knitting machines in 1992, has grown into one of the world’s largest Hosiery manufacturers; a complete vertically integrated company with state of the art Spinning, Yarn Dyeing, Knitting and Finishing facilities. With over 6,000 latest Italian Knitting Machines, 16,000 employees and an organizational network spread over 3 continents, Interloop has the proficiency to work with different materials and make a wide range of products. From scratch to becoming a US$ 270 million company, Interloop produces 700 million pairs of Socks & Tights annually, for top international brands & retailers.
In 1992, two entrepreneur brothers (Musadaq Zulqarnain & Navid Fazil) along with Tariq Rashid created what has now become one of the world’s largest Hosiery Manufacturing and Exporting Company. The pioneers along with the team worked passionately day and night to create history in hosiery manufacturing. It all started one fine day, when the younger brother Navid shared the idea of starting a Hosiery company with his mother Begum Sarwari Sadiq who consulted her elder son Musadaq. The idea seemed doable. Both Tariq and Navid went to Italy to learn the basics of knitting and so began the journey of building a Global Company.
One afternoon over tea in April 1992, the pioneers discussed options for the company name and selected ‘Interloop’ based on the meaning of Knitting ‘Interlooping of the Yarn’.