ROSH-HA'AYIN, Israel - T-Shirt & Sons, a leading European apparel manufacturer, has expanded its digital production capabilities by incorporating the Kornit Apollo platform into its operations. The company, which serves major e-commerce and retail brands in the UK and the Netherlands, aims to significantly enhance its production capacity with this move.
The adoption of Kornit Apollo complements T-Shirt & Sons’ existing Atlas (NYSE:ATCO) MAX systems, allowing the company to streamline operations and improve its speed and time-to-market while maintaining high-quality standards. This strategic expansion is set to increase the company's production capacity by several million impressions annually.
Adam Golder, a representative of T-Shirt & Sons, emphasized the importance of creativity, innovation, and automation in their business, which has been at the forefront of print-on-demand services for over a decade. The Kornit Apollo platform is expected to be a transformative addition to their production process, delivering exceptional results that can accelerate their market responsiveness and optimize production runs.
Kornit Digital (NASDAQ:KRNT)'s CEO, Ronen Samuel, commented on the partnership, stating that manufacturers like T-Shirt & Sons are adapting their operations to cater to a market that increasingly demands both speed and quality. With the integration of the Apollo system, T-Shirt & Sons is poised to scale their production capabilities to new levels.
Kornit Digital (NASDAQ: KRNT), the provider of the Apollo platform, is recognized as a global leader in sustainable, on-demand digital fashion and textile production technologies. The company offers comprehensive solutions including digital printing systems, inks, consumables, and software, alongside a global fulfillment network. Kornit Digital operates worldwide, serving customers in over 100 countries.
The information in this article is based on a press release statement from Kornit Digital Ltd .
In other recent news, Kornit Digital Ltd. has been making significant strides in the market. The company has integrated its Kornit Apollo platform into the production process of Hybrid Digital, a key player in the fashion licensed apparel industry. This strategic move is geared towards meeting the growing demand for swift delivery times in the online retail sector. Hybrid Digital's adoption of Kornit Apollo is expected to speed up production and stimulate business growth, as stated by Stephen Teglas, President of Hybrid Digital.
In addition, Kornit Digital has authorized a $100 million share repurchase plan, following previous buybacks totaling $65 million since 2023. This decision indicates the company's confidence in its long-term growth potential and its commitment to increasing shareholder value. The commencement of repurchases will follow a 30-day creditor objection period, as per Israeli regulations.
Furthermore, the company has received positive attention from Craig-Hallum, which has raised its price target for Kornit Digital to $27.00 from $23.00, while maintaining a Buy rating. This adjustment was made in light of Kornit's Investor Event in Las Vegas, where the company announced new long-term financial goals and new customer acquisitions, among other significant updates.
InvestingPro Insights
To complement the news of T-Shirt & Sons adopting Kornit Digital's Apollo platform, let's delve into some financial insights about Kornit Digital (NASDAQ: KRNT). According to InvestingPro data, Kornit has a market capitalization of $1.18 billion, reflecting its significant presence in the digital printing industry.
Despite the company's recent strategic partnerships and technological advancements, Kornit has faced some financial challenges. The company's revenue for the last twelve months as of Q2 2024 stood at $208.21 million, with a revenue decline of 11.05% over the same period. This aligns with an InvestingPro Tip indicating that analysts anticipate a sales decline in the current year.
However, it's not all gloomy for Kornit. An InvestingPro Tip suggests that net income is expected to grow this year, and analysts predict the company will be profitable. This positive outlook could be attributed to partnerships like the one with T-Shirt & Sons, which may help boost Kornit's market position and financial performance.
Investors should note that Kornit's stock has shown strong performance recently. The company has seen a remarkable 60.81% price return over the last three months, and a 65.41% return over the past year. This robust stock performance, coupled with the company's strategic moves in the market, could signal potential for future growth.
For those interested in a deeper dive into Kornit Digital's financials and prospects, InvestingPro offers 12 additional tips, providing a more comprehensive view of the company's financial health and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.