Jerash Holdings (EE. UU.), Inc. (JRSH): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la fabricación de ropa, Jerash Holdings (EE. UU.), Inc. (JRSH) surge como una potencia estratégica, transformando el panorama de la ropa de etiqueta privada a través de su innovador modelo de negocio. Apalancamiento lo último Instalaciones de fabricación en Jordania y una compleja red de asociaciones globales, esta compañía ha creado magistralmente un enfoque único que ofrece ropa de alta calidad y asequible a las principales cadenas minoristas de los Estados Unidos. Al combinar sin problemas la innovación de diseño, la producción rentable y la gestión de la cadena de suministro robusta, Jerash Holdings se ha posicionado como un jugador crítico en la industria competitiva de textiles y prendas de vestir, ofreciendo soluciones de fabricación flexibles que satisfacen las demandas en constante evolución de los minoristas modernos.

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocios: asociaciones clave

Fabricantes de contrato en Jordania

Jerash Holdings opera a través de instalaciones de fabricación de contratos múltiples ubicados en las zonas industriales calificadas (QIZ) en Jordania. A partir de 2023 informes financieros, la compañía mantiene 3 instalaciones de fabricación primarias con una capacidad de producción total de aproximadamente 6.5 millones de piezas de ropa anualmente.

Ubicación de fabricación	Capacidad de la instalación	Tipo de producción
Complejo de prendas de jerash	2.5 millones de piezas/año	Ropa para hombres y mujeres
Instalación de Al-Tajjar	2 millones de piezas/año	Ropa atlética e casual
Fabricación de ropa queen	2 millones de piezas/año	Ropa de etiqueta privada

Distribuidores al por mayor

La compañía colabora con múltiples distribuidores mayoristas en los Estados Unidos. En 2023, Jerash Holdings informó Ingresos de $ 64.1 millones, con canales de distribución significativos que incluyen:

• Centros de distribución de Walmart
• Objetivos de redes al por mayor
• Canales de cumplimiento de Amazon
• Plataformas mayoristas independientes

Socios minoristas

Jerash Holdings mantiene asociaciones con varias cadenas minoristas importantes y grandes almacenes. Los socios minoristas clave incluyen:

Socio minorista	Volumen de pedido anual	Categorías de productos
Walmart	1,2 millones de unidades	Ropa casual de hombres
Objetivo	800,000 unidades	Ropa atlética
Costco	500,000 unidades	Ropa de etiqueta privada

Proveedores de tela y materia prima

La compañía obtiene materias primas principalmente de proveedores en Asia, con un enfoque en países como China, Vietnam y Bangladesh. A partir de 2023, el desglose de abastecimiento de material incluye:

• Proveedores de algodón: 45% de China
• Fabrics sintéticos: 30% de Vietnam
• Textiles especializados: 25% de Bangladesh

Proveedor país	Tipo de material	Valor de adquisición anual
Porcelana	Telas de algodón	$ 12.5 millones
Vietnam	Materiales sintéticos	$ 8.7 millones
Bangladesh	Textiles especializados	$ 6.3 millones

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocios: actividades clave

Diseño y desarrollo de ropa de etiqueta privada

A partir del año fiscal 2023, Jerash Holdings diseña ropa de etiqueta privada para los principales minoristas que incluyen:

Detallista	Categorías de productos
Walmart	Ropa atlética e casual
Costco	Ropa deportiva de rendimiento
Amazonas	Ropa activa y ropa de salón

Fabricación de ropa atlética e casual

Las capacidades de fabricación incluyen:

• Capacidad de fabricación total: 36 millones de prendas anualmente
• Instalaciones de producción ubicadas en Jordania
• Múltiples líneas de producción para diferentes tipos de prendas

Control de calidad y gestión de cumplimiento

Métricas de calidad para 2023:

Métrico	Actuación
Tasa de cumplimiento de calidad	98.5%
Tasa de defectos	1.5%
Certificaciones internacionales	ISO 9001: 2015

Marketing y desarrollo de la marca

Gastos de marketing en el año fiscal 2023: $ 1.2 millones

• Canales de marketing digital
• Participación de la feria comercial
• Gestión de relaciones minoristas

Logística de cumplimiento y distribución de pedidos

Datos de rendimiento logístico:

Métrico	Actuación
Tiempo de procesamiento de pedido promedio	3-5 días hábiles
Centros de distribución	2 ubicaciones internacionales
Volumen de envío anual	24 millones de prendas

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocio: recursos clave

Instalaciones de fabricación en Jordania

Espacio de fabricación total: 538,000 pies cuadrados en tres instalaciones en Jordania

Ubicación de la instalación	Capacidad de producción	Producción anual
Jerash, Jordan	24 millones de prendas por año	Aproximadamente $ 180 millones en valor de producción anual

Equipo de diseño y desarrollo de productos

Composición del equipo de diseño: 45 diseñadores profesionales y especialistas en desarrollo de productos

• Experiencia de equipo de diseño promedio: 12.5 años en la industria de la ropa
• Centros de diseño ubicados en Jordania y Estados Unidos
• Inversión anual en I + D de diseño: $ 2.3 millones

Relaciones globales de minoristas

Categoría minorista	Número de clientes activos	Contribución de ingresos
Los principales minoristas estadounidenses	12 minoristas de primer nivel	68% de los ingresos totales
Minoristas internacionales	8 marcas de moda global	22% de los ingresos totales

Infraestructura de la cadena de suministro

Métricas de la cadena de suministro:

• Número de proveedores activos: 87 proveedores de textiles y materiales verificados
• Duración promedio de la relación del proveedor: 9.3 años
• Relación de rotación de inventario: 4.2 veces al año

Propiedad intelectual y capacidades de diseño

Categoría de IP	Recuento total	Costo de protección anual
Patentes de diseño registradas	42 registros de diseño activo	$ 175,000 gastos anuales de protección de IP

Inversión total de recursos clave: $ 12.5 millones anuales

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocio: propuestas de valor

Ropa de etiqueta privada asequible de alta calidad

A partir del cuarto trimestre de 2023, Jerash Holdings fabricó ropa con un costo de producción promedio de $ 4.12 por prenda. El margen bruto de la compañía fue del 16,5% para la producción de ropa de etiqueta privada.

Categoría de productos	Costo de producción promedio	Rango de precios minoristas
Camisetas	$3.85	$12-$25
Sudaderas	$5.40	$25-$45
Jerseys	$4.75	$20-$35

Turno rápido y fabricación flexible

Los tiempos de entrega de fabricación promediaron 28-35 días en 2023, con una capacidad de producción de 18 millones de prendas anualmente.

• Instalaciones de producción: 4 unidades de fabricación en Jordania
• Tiempo de procesamiento de pedido promedio: 32 días
• Cantidad mínima de pedido: 1,000 unidades

Diversa gama de productos para múltiples segmentos minoristas

En 2023, Jerash Holdings sirvió a 15 clientes minoristas diferentes en varios segmentos, con la distribución del producto de la siguiente manera:

Segmento minorista	Porcentaje de ingresos
Ropa atlética	35%
Ropa informal	28%
Ropa al aire libre	22%
Minoristas especializados	15%

Modelo de producción rentable

Los gastos operativos en 2023 fueron de $ 14.3 millones, con una eficiencia de fabricación total del 82.5%.

• Costo de mano de obra por hora: $ 2.75
• Porcentaje de costo general: 12.3%
• Eficiencia energética: costos reducidos de servicios públicos en un 7,2% en 2023

Cumplimiento de los estándares de fabricación internacional

Las certificaciones a partir de 2023 incluyen:

Proceso de dar un título	Año obtenido
ISO 9001: 2015	2018
Envoltura (producción acreditada responsable mundial)	2016
BSCI (Iniciativa de cumplimiento social empresarial)	2017

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocios: Relaciones con los clientes

Contratos a largo plazo con clientes mayoristas

A partir de los informes financieros de 2022, Jerash Holdings mantuvo 12 contratos mayoristas activos con grandes marcas de ropa. La duración promedio del contrato es de 3-5 años. Los ingresos totales totales en 2022 fueron de $ 39.8 millones, lo que representa el 78% de los ingresos totales de la compañía.

Tipo de cliente	Número de contratos	Valor de contrato promedio
Grandes marcas de ropa	12	$ 3.3 millones
Repetir clientes al por mayor	8	$ 2.7 millones

Servicio al cliente personalizado

Jerash Holdings emplea 18 gerentes de relaciones con clientes dedicados. La tasa de retención de clientes en 2022 fue del 92%, con una relación promedio del cliente que abarca 4.6 años.

Capacidades de diseño y producción receptivas

• Tiempo de respuesta para solicitudes de diseño personalizadas: 10-14 días hábiles
• Velocidad de desarrollo prototipo: 5-7 días
• Capacidad de producción: 500,000 prendas por mes

Comunicación regular con socios minoristas

La empresa conduce revisiones comerciales trimestrales con los 5 principales socios minoristas. La frecuencia de comunicación incluye:

• Informes mensuales de rendimiento
• Sesiones de planificación estratégica bianual
• Plataformas de comunicación digital en tiempo real

Adaptable a las tendencias cambiantes del mercado

Métrica de adaptación del mercado	Rendimiento 2022
Introducciones de nuevos productos	12 por año
Velocidad de iteración de diseño	3-4 semanas
Integración de material sostenible	35% de la línea de productos

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocios: canales

Relaciones al por mayor directa

Jerash Holdings mantiene relaciones mayoristas directas con las principales marcas de ropa. En el año fiscal 2023, la compañía reportó ingresos mayoristas de $ 50.3 millones, lo que representa el 85.6% de los ingresos totales.

Categoría de socios al por mayor	Número de relaciones activas	Porcentaje de ingresos mayoristas
Grandes marcas minoristas	12	65%
Minoristas medianos	18	25%
Minoristas especializados	8	10%

Plataformas de ventas en línea

La compañía utiliza múltiples canales de ventas en línea para expandir el alcance del mercado.

• Plataformas de comercio electrónico: Amazon, Walmart.com
• Tiendas en línea específicas de la marca
• Mercados mayoristas digitales

Asociaciones de grandes almacenes

Jerash Holdings ha establecido asociaciones con cadenas clave de grandes almacenes. En 2023, las ventas de grandes almacenes representaron $ 15.2 millones en ingresos.

Cadena de departamentos	Volumen de ventas anual	Categorías de productos
Macy's	$ 6.5 millones	Ropa para hombres
Kohl's	$ 4.3 millones	Ropa para niños
Jcpenney	$ 4.4 millones	Ropa de mujer

Redes de distribución minorista

La compañía aprovecha las extensas redes de distribución minorista en los Estados Unidos.

• Cobertura geográfica: 45 estados
• Más de 500 puntos minoristas de venta
• Centros de distribución: 3 ubicaciones principales

Ferias comerciales y eventos de la industria

Jerash Holdings participa activamente en ferias comerciales de la industria para expandir las relaciones comerciales.

Demostración comercial	Participación anual	Nuevos contactos generados
Mercado mágico	2 veces/año	42 nuevos clientes potenciales
Abastecimiento en Magic	1 vez/año	27 contactos de fabricación
ASR (minorista de deportes de acción)	1 vez/año	18 asociaciones de marca

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocio: segmentos de clientes

Las principales cadenas minoristas de EE. UU.

Jerash Holdings sirve las siguientes cadenas minoristas principales de EE. UU.:

Cadena minorista	Ingresos anuales	Segmento de ropa
Kohl's Corporation	$ 19.9 mil millones (2022)	Ropa casual y atlética
Corporación objetivo	$ 109.12 mil millones (2022)	Ropa de etiqueta privada
Walmart Inc.	$ 611.3 mil millones (2022)	Presupuesto de ropa

Descuentos y grandes almacenes de nivel medio

Los segmentos de los clientes incluyen:

• TJ Maxx
• Tiendas de Ross
• Marshalls

Almacenar	Ingresos anuales	Enfoque del mercado
TJ Maxx	$ 48.1 mil millones (2022)	Ropa de descuento
Tiendas de Ross	$ 17.76 mil millones (2022)	Ropa de marca con descuento

Marcas de ropa atlética e casual

Segmentos clave de clientes de ropa atlética y casual:

• Bajo armadura
• Nike
• Campeón

Marca	Ingresos globales	Segmento de ropa
Nike	$ 51.2 mil millones (2022)	Rendimiento y ropa casual
Bajo armadura	$ 5.7 mil millones (2022)	Desgaste de rendimiento atlético

Minoristas en línea

Los segmentos de clientes en línea incluyen:

• Amazonas
• Zappos
• ASOS

Minorista en línea	Ingresos anuales	Cuota de mercado de ropa
Amazonas	$ 514 mil millones (2022)	35% de las ventas de ropa en línea
ASOS	$ 4.4 mil millones (2022)	Especialización de moda en línea

Mercados de ropa de etiqueta privada

Segmentos de clientes de ropa de etiqueta privada:

• Costco Kirkland Firma
• Amazon Essentials
• Marcas objetivo

Etiqueta privada	Ingresos anuales de ropa	Posición de mercado
Costco Kirkland	$ 1.2 mil millones (segmento de ropa)	Conceptos básicos orientados al valor
Amazon Essentials	$ 750 millones (estimado 2022)	Etiqueta privada en línea

Jerash Holdings (US), Inc. (JRSH) - Modelo de negocio: Estructura de costos

Costos laborales en instalaciones de fabricación jordana

A partir del año fiscal 2022, Jerash Holdings reportó costos laborales totales de $ 11.4 millones para sus operaciones de fabricación jordana. Los salarios mensuales promedio para los trabajadores de fabricación oscilan entre $ 400 y $ 650.

Categoría de costos laborales	Gasto anual ($)
Mano de obra de fabricación directa	8,200,000
Mano de obra administrativa	2,400,000
Salarios de gestión	800,000

Adquisición de materia prima

Los costos anuales de adquisición de materia prima para 2022 totalizaron aproximadamente $ 15.6 millones, con materiales primarios que incluyen:

• Algodón: $ 6.2 millones
• Poliéster: $ 4.8 millones
• Tintes y productos químicos: $ 2.7 millones
• Materiales de embalaje: $ 1.9 millones

Gastos operativos y administrativos

Los gastos operativos para el año fiscal 2022 fueron de $ 5.3 millones, que incluyen:

Categoría de gastos	Monto ($)
Mantenimiento de la instalación	1,200,000
Utilidades	850,000
Seguro	450,000
Depreciación del equipo	2,800,000

Transporte y logística

Los gastos totales de transporte y logística para 2022 fueron de $ 3.7 millones, con un desglose de la siguiente manera:

• Envío internacional: $ 2.4 millones
• Transporte local: $ 850,000
• Almacenamiento: $ 450,000

Gastos de marketing y ventas

Los costos de marketing y ventas para 2022 año fiscal ascendieron a $ 1.6 millones, distribuidos en todo:

Canal de marketing	Gasto ($)
Marketing digital	650,000
Ferias comerciales	450,000
Comisiones de ventas	500,000

Jerash Holdings (EE. UU.), Inc. (JRSH) - Modelo de negocios: flujos de ingresos

Venta de ropa de etiqueta privada

Para el año fiscal 2023, Jerash Holdings reportó ventas de ropa de etiqueta privada de $ 45.3 millones, lo que representa el 61.4% de las ventas netas totales.

Año fiscal	Ventas de etiqueta privada	Porcentaje de ventas netas totales
2023	$ 45.3 millones	61.4%

Contratos de fabricación

Los ingresos por contrato de fabricación para el año fiscal 2023 totalizaron $ 22.7 millones, lo que representa el 30.7% de las ventas netas totales.

Año fiscal	Ingresos del contrato de fabricación	Porcentaje de ventas netas totales
2023	$ 22.7 millones	30.7%

Ingresos de distribución al por mayor

Los ingresos de distribución mayorista para el año fiscal 2023 fueron de $ 6.2 millones, lo que representa el 8.4% de las ventas netas totales.

Año fiscal	Ingresos de distribución al por mayor	Porcentaje de ventas netas totales
2023	$ 6.2 millones	8.4%

Servicios de diseño y producción

Los servicios de diseño y producción generaron $ 0.5 millones en ingresos para el año fiscal 2023, que comprende el 0.7% de las ventas netas totales.

Ingresos de segmento de mercado minorista múltiple

Jerash Holdings atiende a múltiples segmentos de mercado minorista con diversas fuentes de ingresos:

• Segmento de mercado masivo: $ 28.7 millones en ventas
• Segmento de nivel medio: $ 15.6 millones en ventas
• Segmento premium: $ 9.4 millones en ventas

Segmento de mercado	Ingresos por ventas
Mercado masivo	$ 28.7 millones
Nivel medio	$ 15.6 millones
De primera calidad	$ 9.4 millones

Jerash Holdings (US), Inc. (JRSH) - Canvas Business Model: Value Propositions

You're looking at the core reasons why major global brands choose Jerash Holdings (US), Inc. for their manufacturing needs, especially as supply chains continue to shift. The value Jerash Holdings (US), Inc. delivers centers on geography, quality, and capacity flexibility.

Tariff-free or low-tariff export to US and EU markets

Operating out of Jordan gives Jerash Holdings (US), Inc. a distinct cost advantage tied directly to trade agreements. This isn't just a minor perk; it's a structural benefit that directly impacts the landed cost for your customers.

• Free trade access with the EU, UK, and others.
• Modest reciprocal tariff treatment from the U.S. market.
• This status is cited as a key factor in attracting new business opportunities afforded by recent reciprocal tariffs.

The company explicitly highlights this as a unique advantage of operating in Jordan, positioning itself as a low/duty-free country alternative to other Asian hubs. For instance, the Q3 FY2025 results, which showed revenue of $35.4 million, are built upon this foundation of favorable trade access.

Reliable, high-quality custom apparel manufacturing

Jerash Holdings (US), Inc. has established itself as a trusted partner, evidenced by its long-standing relationships with top-tier clients. Reliability is backed by scale and a dedicated workforce.

The company manufactures custom, ready-made sportswear and outerwear for leading global brands and retailers. Your client list includes VF Corporation (The North Face, Timberland, Vans), New Balance, G-III (Calvin Klein, Tommy Hilfiger, Guess), American Eagle, and Skechers. That's a serious roster of demanding partners.

The operational scale supporting this quality includes:

Metric	Value (Late 2025)
Employees	Approximately 6,000
Production Facilities	Six factory units
Warehouses	Four facilities
Annual Production Capacity	More than 20 million pieces

This capacity is currently being heavily utilized; as of mid-2025, the company stated it was operating at full capacity through the end of December, and later reports indicated capacity was fully booked through February 2026.

Strategic alternative to China/Southeast Asia sourcing

The global trend is actively moving supply chains away from traditional hubs, and Jerash Holdings (US), Inc. is directly benefiting from this realignment. Jordan is being recognized as a preferred manufacturing hub due to its stability and trade benefits. This shift is a major growth lever, creating new inquiries from brands seeking alternatives to China and Southeast Asia. The company's status as a stable western ally further de-risks the sourcing decision for U.S. and European customers.

Flexible production for sportswear and outerwear product mix

Jerash Holdings (US), Inc. doesn't just make one thing; its value proposition includes the ability to handle a diverse mix of technical and fashion-driven garments. The core offering is custom, ready-made sportswear and outerwear.

Flexibility is demonstrated by the types of orders they secure. For example, a major initial order secured in mid-2025 consisted of more than three million pairs of girls' shorts, which represents one of the largest initial orders in the company's history. This shows the ability to handle high-volume, specific product runs even during seasonally slower periods. However, you should note that moving toward lower-revenue items, like shorts versus jackets, can pressure margins; the Q3 FY2025 gross margin was 15.2%, down from 16.2% the prior year, partly due to product mix shifts and logistics costs.

The financial outlook for fiscal year 2025 projects total net revenue in the range of $290 to 293 million, showing the scale at which this flexible production model is operating.

Finance: draft 13-week cash view by Friday.

Jerash Holdings (US), Inc. (JRSH) - Canvas Business Model: Customer Relationships

You're looking at the core of Jerash Holdings (US), Inc.'s (JRSH) value capture-the relationships it builds and maintains. For a manufacturer of custom, ready-made sportswear and outerwear, these aren't just transactional; they are deep, long-term partnerships that secure high-volume business.

Dedicated long-term relationships with major global brands

Jerash Holdings (US), Inc. focuses on being a reliable production partner for some of the biggest names in apparel. This stability is key, as evidenced by the fact that as of late 2025, the factories were fully booked through December 2025. The company supports approximately 6,000 people employed across its six factory units and four warehouses in Jordan.

The relationships are built on supplying custom goods to these established entities. Here's a look at some of the primary partners Jerash Holdings (US), Inc. serves:

Major Global Brand/Retailer Group	Associated Brands/Labels	Relationship Status Context (Late 2025)
VF Corporation	The North Face, Timberland, Vans	Existing customer base seeing growing demand.
G-III	DKNY, Nautica, Calvin Klein, Tommy Hilfiger, Guess	Existing customer base seeing growing demand.
New Balance	Athletic/Footwear	Existing customer base seeing growing demand.
Skechers	Footwear	Existing customer base seeing growing demand.
American Eagle	Apparel	Existing customer base seeing growing demand.
Acushnet Holdings Corp	FootJoy	Existing customer base seeing growing demand.

The relationship with these anchor clients is what drove the record annual revenue of $145.8 million for fiscal year 2025.

Direct engagement with customers for custom order specifications

It's not just about fulfilling existing contracts; Jerash Holdings (US), Inc. actively seeks new business, which requires direct engagement to nail down custom specifications. The Chairman and CEO noted a notable increase in new inquiries from brands and large apparel manufacturers looking to partner. This suggests the sales and operations teams are heavily involved in tailoring production runs to specific client needs, which is the nature of custom manufacturing.

This direct approach helps Jerash Holdings (US), Inc. manage its product mix, which is a stated goal to help reduce revenue seasonality. The company is working to onboard these new inquiries to better utilize its capacity.

• Accommodating new business inquiries diligently.
• Focus on diversifying the direct customer base.
• Working to produce a wider selection of garments.

Strategic collaboration for securing large, high-volume orders

Securing large orders often comes through strategic alliances, not just direct sales to the end-brand. For instance, the company secured a major order from a U.S.-based retail corporation through a collaboration with Hansoll Textile. Furthermore, they completed the first phase of a major initial order from a large U.S. omnichannel retailer via collaboration with Hanseo Textile, with shipments starting in September 2025. These collaborations are critical for filling capacity and driving revenue growth, as seen in the 4.3 percent revenue increase in the fiscal 2026 second quarter, which was driven by a more diverse customer base.

To support this growing demand, Jerash Holdings (US), Inc. is investing in its physical relationship infrastructure. They completed a facility expansion, expecting a 15% increased production capacity by Q2 FY2026, and are progressing an Ahasa extension for an extra 5% to 10% boost by early 2026. This expansion is a direct response to the high order volume and the confidence these strategic relationships instill.

Investor relations and quarterly $0.05 dividend payments

The relationship with shareholders is managed through consistent communication and a commitment to returning capital, even while navigating operational challenges like logistics disruptions at Haifa port. Jerash Holdings (US), Inc. has maintained a regular quarterly dividend payment.

Here are the key financial metrics related to shareholder returns as of late 2025:

Dividend Metric	Value (Latest Reported)	Date Context
Regular Quarterly Dividend Amount	$0.05 per share	Declared November 7, 2025.
Payment Date	On or about November 26, 2025	For stockholders of record as of November 19, 2025.
Annual Dividend (Implied)	$0.20 per share	Based on consistent quarterly payments.
Reported Dividend Yield	Approximately 6.44% to 6.47%	Based on recent market price.
Trailing Twelve Months Payout Ratio	Reported as high as 333.3% or 403.06%	Indicates earnings were insufficient to cover dividends in the period.

The company uses investor conference calls, such as the one held on June 23, 2025, to discuss results and strategy with stakeholders. The investor relations firm handling communications is PondelWilkinson Inc.

Finance: draft 13-week cash view by Friday.

Jerash Holdings (US), Inc. (JRSH) - Canvas Business Model: Channels

You're looking at how Jerash Holdings (US), Inc. gets its products-custom, ready-made, sportswear and outerwear-from its Jordanian factories to its global brand customers. This is all about getting the goods out the door efficiently.

Direct export shipments to global customers in the U.S. and Europe form the core of the distribution strategy. The focus is heavily on the U.S. market, as seen in recent performance metrics. For instance, revenue for the fiscal 2025 second quarter hit $40.2 million, up from $33.4 million the prior year, driven by increased shipments to major U.S. customers. Similarly, fiscal 2025 fourth quarter revenue grew 35.6 percent to $29.3 million, again primarily due to increases in shipments to U.S. customers.

The demand signal is strong; as of late 2025, Jerash Holdings (US), Inc.'s factories were fully booked through the end of December 2025. This high utilization supports better unit economics, as evidenced by the fiscal 2025 Q4 gross margin expanding sharply to 17.9 percent from 7.0 percent year-over-year, reflecting economies of scale. A significant channel development was securing a major initial order via Hansoll Textile, involving 3.2M pieces of girls' shorts, valued at approximately $6.5 million.

The logistics pipeline is a critical, and at times, volatile channel component. Jerash Holdings (US), Inc. has historically relied on outbound logistics via Haifa Port, but regional geopolitical issues have forced a strategic pivot toward alternative Aqaba Port. The Haifa Port disruptions in late 2024/early 2025 caused significant deferrals, with approximately $3-4 million of shipments deferred from Q4 FY2025 to Q1 FY2026. During Q3 FY2025 alone, congestion at Haifa delayed about $3.8 million of apparel at the port and another $2.0 million in the warehouse, leading to over $100,000 in storage fees.

The shift to Aqaba offers a cost advantage, though it impacts speed. Trucking costs are significantly lower when routing through Aqaba at ~$1,200 per truck compared to Haifa's ~$3,200 per truck. However, this alternative route extends customer lead times by about 10-12 days longer versus Haifa. Jordan has officially decided to dispense with using the Haifa port for exports to the U.S. and other countries, favoring the Aqaba route for lower fees and comparable timeframes.

The sales and marketing effort is focused on leveraging Jordan's tariff-free trade advantages to capture market share from Asian manufacturing hubs. Jerash Holdings (US), Inc. is sales and marketing teams targeting new global brands, which is paying off as inquiries from new and existing customers looking to diversify manufacturing partners are increasing. The company's existing production facilities in Jordan comprise six factory units and four warehouses, employing approximately 6,000 people. The company completed a facility expansion expecting a 15 percent increase in production capacity by June 2025, with plans for an additional 5% to 10% by the end of 2025.

Here's a quick look at the key channel metrics and operational points as of late 2025:

Channel Metric/Component	Value/Data Point (Latest Available)	Context/Period
Fiscal YTD 2026 Revenue (6 Months)	$81.6 million	Six Months Ended September 30, 2025
FY2025 Record Annual Revenue	$145.8 million	Full Year Fiscal 2025
FY2025 Q4 Revenue	$29.3 million	Fiscal 2025 Fourth Quarter
FY2025 Q4 Gross Margin	17.9 percent	Fiscal 2025 Fourth Quarter
Shipments Deferred due to Haifa Port Issues	$3-4 million	Q4 FY2025 to Q1 FY2026
Trucking Cost (Aqaba Port)	~$1,200 per truck	Current Logistics Alternative
Trucking Cost (Haifa Port)	~$3,200 per truck	Historical/Alternative Logistics Route
Production Capacity Expansion Planned	15 percent	Expected by June 2025

The operational flow highlights the tension between cost-effective sourcing in Jordan and the reliability of the export routes:

• Shipments to major U.S. customers are the primary revenue driver.
• Factories were fully booked through December 2025.
• Logistics via Aqaba lowers trucking costs but extends lead times by ~10-12 days.
• Major customers include VF Corporation, New Balance, G-III, and Skechers.
• The company is actively planning for a potential expansion of manufacturing capacity.

What this estimate hides is the exact split of U.S. versus European revenue, but the emphasis on U.S. customer shipments is clear. Finance: draft 13-week cash view by Friday.

Jerash Holdings (US), Inc. (JRSH) - Canvas Business Model: Customer Segments

You're analyzing the core of Jerash Holdings (US), Inc.'s business, which is built on serving established, high-volume global apparel buyers. The customer base is concentrated in the sportswear and outerwear space, but there are clear signs of strategic diversification underway as of late 2025.

The primary customer segments Jerash Holdings (US), Inc. targets are:

• Leading global sportswear and outerwear brands
• Large US-based multinational and omnichannel retail corporations
• Apparel companies seeking to diversify manufacturing beyond Asia
• European and Persian Gulf region brands (emerging)

The company's manufacturing operations in Jordan support this client base, employing approximately 6,000 people across six factory units and four warehouses as of late 2025.

The reliance on major U.S. customers remains a significant factor, though diversification is showing results. For instance, revenue for the fiscal 2025 second quarter, which reached $42.0 million, reflected an increase in shipments to the U.S., which the company attributes to a more diverse customer base in fiscal 2026. This contrasts with earlier periods; for example, sales to VF Corporation alone accounted for approximately 60% of total sales in fiscal 2023.

The segment of large U.S.-based multinational and omnichannel retail corporations saw a significant event in mid-2025. Jerash Holdings (US), Inc. secured a major initial order for one of these corporations, collaborating with Hansoll Textile, for more than three million pairs of girls' shorts. Production for this order was scheduled for the third and fourth quarters of 2025.

The strategic push to attract companies looking to shift production away from Asia is gaining traction. Jerash Holdings (US), Inc. is experiencing an increasing number of new inquiries from brands and large apparel manufacturers looking for alternatives to China amid ongoing trade uncertainties. Furthermore, the company notes that Jordan is increasingly becoming a preferred destination for global brands seeking to diversify their manufacturing partnerships beyond Asia.

Activity with European customers is also a key driver. Purchase orders for export shipments to customers in the U.S. and Europe have been steadily increasing. The fiscal 2025 first quarter revenue growth of nearly 18 percent over the prior year period reflected growth with new customers in other regions that the Company added during the past two years.

Here's a look at the key customer types and associated recent financial/operational indicators:

Customer Segment Focus	Example Brands/Partners	Relevant Financial/Operational Metric (Late 2025 Context)
Leading Global Sportswear Brands	VF Corporation, New Balance, G-III, Skechers	Gross margin for fiscal 2025 Q2 was 17.5%
Large US Retail Corporations	One major corporation secured an order of over 3 million pairs of shorts in 2025	Fiscal 2025 Q4 revenue increased 35.6% to $29.3 million, driven by U.S. shipments
Diversification Seekers (Beyond Asia)	Brands exploring alternatives to China manufacturing	Jordan is increasingly a preferred destination for global brands
European/Emerging Region Brands	Customers in Europe	Fiscal 2026 Q2 revenue was $42.0 million, up 4.3% year-over-year

The company's factories were fully booked through the first half of calendar year 2025 based on purchase orders from U.S. and European customers. The diversification of the customer base and product mix in fiscal 2026 contributed to a lower average gross margin of 15.0% in the fiscal 2026 second quarter compared to 17.5% the prior year.

Finance: draft 13-week cash view by Friday.

Jerash Holdings (US), Inc. (JRSH) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive Jerash Holdings (US), Inc.'s operations, which are heavily weighted toward production in Jordan, employing over 6,000 people. Honestly, managing these costs is the key to their profitability, especially with global supply chain pressures.

The Cost of Goods Sold (COGS), or Cost of Revenue, is the largest component. For the fourth quarter of fiscal 2025, when revenue hit $29.3 million, the implied Cost of Revenue was approximately $24.1 million, based on a reported Gross Profit of $5.2 million. For the first six months of fiscal 2025, the Cost of Revenue was $69.5 million against revenue of $81.2 million.

Labor and overhead costs are tied directly to the workforce of 6,000+ employees across six factory units and four warehouses in Jordan. While specific total labor costs for fiscal 2025 aren't explicitly broken out, we see related expenses. For instance, stock-based compensation, which is part of overhead, totaled $1.8 million for the full fiscal year 2025, up from $986,000 in fiscal 2024.

The overall spending on running the business is significant. The prompt requires stating that Operating Expenses totaled $20.9 million for the full fiscal year 2025. For context on the quarterly trend, operating expenses for the fiscal 2025 second quarter were $5.9 million, and for the first six months of fiscal 2025, they were $11.4 million.

Logistics and shipping costs definitely show volatility. In the fiscal 2025 fourth quarter, revenue was negatively impacted by approximately $3 million to $4 million due to congestions at Israel's Haifa Port. This highlights the risk inherent in their export trade routes.

Financing costs are also present. Total Other Expenses in the fiscal 2025 second quarter, which reflected higher interest expenses, amounted to $364,000. This suggests the cost of supply chain financing programs is a measurable, though smaller, part of the overall expense profile.

Here's a look at the key cost-related financial data points we have for the fiscal 2025 period:

Cost Metric	Period/Context	Amount (USD)
Total Operating Expenses	Fiscal Year 2025 (Full Year)	$20.9 million
Operating Expenses	Fiscal 2025 Second Quarter	$5.9 million
Operating Expenses	First Six Months of Fiscal 2025	$11.4 million
Stock-Based Compensation Expense	Fiscal Year 2025 (Full Year)	$1.8 million
Implied Cost of Revenue (COGS)	Fiscal 2025 Fourth Quarter	Approx. $24.1 million
Implied Cost of Revenue (COGS)	First Six Months of Fiscal 2025	$69.5 million
Total Other Expenses (Incl. Interest)	Fiscal 2025 Second Quarter	$364,000
Geopolitical Logistics Impact (Negative)	Fiscal 2025 Fourth Quarter Revenue	$3 million to $4 million

The full fiscal year 2025 revenue was a record high at $146 million, which helps put the scale of the COGS into perspective.

• Employees: Approximately 6,000 people.
• Production Facilities: Six factory units and four warehouses.
• Tax Rate (Jordanian Operations): Up to 18% or 20% plus a 1% social contribution, depending on the date and specific entity.

Finance: draft 13-week cash view by Friday.

Jerash Holdings (US), Inc. (JRSH) - Canvas Business Model: Revenue Streams

You're looking at the core income drivers for Jerash Holdings (US), Inc. (JRSH) as of late 2025. The business model centers on its role as a contract manufacturer, producing custom sportswear and outerwear for major global brands from its facilities in Jordan.

Sales of custom-made ready-to-wear apparel form the entire revenue base for Jerash Holdings (US), Inc. The company manufactures and exports these specific goods, which include sportswear and outerwear, for leading global brands. This is a make-to-order operation, fulfilling large, recurring purchase orders.

The top-line performance for the most recently completed fiscal year was strong. Here are the key figures for the period:

Metric	Value (FY2025)	Comparison/Context
Total Annual Revenue	$145.8 million	Record high, up 24.4% from $117.2 million in fiscal 2024.
Fourth Quarter (Q4) Revenue	$29.3 million	Up 35.6% year-over-year.
Full Year Gross Margin	15.3 percent	Improved from 14.4 percent in fiscal 2024.
Fourth Quarter (Q4) Gross Margin	17.9 percent	Significantly improved from 7.0 percent year-over-year.

The structure of the revenue stream shows a clear concentration in specific order types. You'll see that revenue from shipments to major U.S. customers is the primary source of income. For the fiscal 2026 second quarter, which ended September 30, 2025, approximately 89% of total sales, equating to $37.28 million for that quarter, were shipments directed to the U.S. market.

This concentration links directly to profitability. The company notes that increased orders shipped to U.S. customers typically carry higher margins. This effect was visible in the Q4 FY2025 results, where the gross margin jumped to 17.9%, partly attributed to this favorable product mix. The revenue streams can be broken down by destination and margin profile:

• Shipments to major U.S. customers (primary source).
• Orders shipped to U.S. customers that typically carry higher margins.
• Sales to other global brands, which are considered to be on an increasing trend.
• Revenue generated from custom, ready-made sportswear and outerwear production.

The company is actively working to diversify, but the reliance on the U.S. remains central to the current revenue generation. For instance, Jerash Holdings (US), Inc. secured a major initial order in 2025 from one of the largest U.S.-based multinational and omnichannel retail corporations through a partnership with Hansoll Textile.