Jerash Holdings (US), Inc. (JRSH): Canvas de modèle d'entreprise [Jan-2025 Mis à jour]

Dans le monde dynamique de la fabrication de vêtements, Jerash Holdings (US), Inc. (JRSH) émerge comme une puissance stratégique, transformant le paysage des vêtements de la marque privée grâce à son modèle commercial innovant. Tirage état de l'art Installations de fabrication en Jordanie et un réseau complexe de partenariats mondiaux, cette société a magistralement conçu une approche unique qui offre des vêtements abordables de haute qualité aux grandes chaînes de vente au détail aux États-Unis. En mélangeant de manière transparente l'innovation de conception, une production rentable et une gestion robuste de la chaîne d'approvisionnement, Jerash Holdings s'est positionné comme un acteur critique dans l'industrie du textile et des vêtements compétitifs, offrant des solutions de fabrication flexibles qui répondent aux demandes en constante évolution des détaillants modernes.

Jerash Holdings (US), Inc. (JRSH) - Modèle commercial: partenariats clés

Fabricants contractuels en Jordanie

Jerash Holdings opère dans plusieurs installations de fabrication de contrats situées dans les zones industrielles qualifiées (QIZ) en Jordanie. En 2023 rapports financiers, la société maintient 3 installations de fabrication primaires avec une capacité de production totale d'environ 6,5 millions de vêtements par an.

Emplacement de fabrication	Capacité de l'installation	Type de production
Complexe de vêtements Jerash	2,5 millions de pièces / an	Vêtements masculins et féminins
Installation d'Al-Tajjar	2 millions de pièces / an	Vêtements athlétiques et décontractés
Fabrication de vêtements Queen	2 millions de pièces / an	Vêtements de marque privée

Distributeurs en gros

La société collabore avec plusieurs distributeurs de gros à travers les États-Unis. En 2023, Jerash Holdings a rapporté Revenu de 64,1 millions de dollars, avec des canaux de distribution importants, notamment:

• Centres de distribution Walmart
• Cibler les réseaux en gros
• Canaux de réalisation d'Amazon
• Plates-formes de gros indépendantes

Partenaires de vente au détail

Jerash Holdings maintient des partenariats avec plusieurs grandes chaînes de détail et grands magasins. Les principaux partenaires de vente au détail comprennent:

Partenaire de vente au détail	Volume de commande annuel	Catégories de produits
Walmart	1,2 million d'unités	Vêtements décontractés pour hommes
Cible	800 000 unités	Vêtements de sport
Costco	500 000 unités	Vêtements de marque privée

Fournisseurs de tissus et de matières premières

La société s'approvisionne principalement auprès de fournisseurs d'Asie, en mettant l'accent sur des pays comme la Chine, le Vietnam et le Bangladesh. Depuis 2023, la ventilation de l'approvisionnement en matériaux comprend:

• Fournisseurs en coton: 45% de la Chine
• Tissus synthétiques: 30% du Vietnam
• Textiles spécialisés: 25% du Bangladesh

Pays de fournisseur	Type de matériau	Valeur d'achat annuelle
Chine	Tissus de coton	12,5 millions de dollars
Vietnam	Matériaux synthétiques	8,7 millions de dollars
Bangladesh	Textiles spécialisés	6,3 millions de dollars

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: activités clés

Concevoir et développer des vêtements de marque privée

Depuis l'exercice 2023, Jerash Holdings conçoit des vêtements de marque privée pour les grands détaillants, notamment:

Détaillant	Catégories de produits
Walmart	Vêtements athlétiques et décontractés
Costco	Performance Sportswear
Amazone	Habitants actifs et vêtements de salon

Fabrication des vêtements de sport et décontractés

Les capacités de fabrication comprennent:

• Capacité de fabrication totale: 36 millions de vêtements par an
• Installations de production situées en Jordanie
• Plusieurs lignes de production pour différents types de vêtements

Contrôle de la qualité et gestion de la conformité

Métriques de qualité pour 2023:

Métrique	Performance
Taux de conformité de la qualité	98.5%
Taux de défaut	1.5%
Certifications internationales	ISO 9001: 2015

Marketing et développement de marque

Dépenses de marketing au cours de l'exercice 2023: 1,2 million de dollars

• Canaux de marketing numérique
• Participation des salons commerciaux
• Gestion des relations avec les détaillants

Logistique de réalisation des commandes et de distribution

Données de performance en logistique:

Métrique	Performance
Temps de traitement des commandes moyen	3-5 jours ouvrables
Centres de distribution	2 emplacements internationaux
Volume d'expédition annuel	24 millions de vêtements

Jerash Holdings (US), Inc. (JRSH) - Modèle commercial: Ressources clés

Installations de fabrication en Jordanie

Espace de fabrication total: 538 000 pieds carrés sur trois installations en Jordanie

Emplacement de l'installation	Capacité de production	Sortie annuelle
Jerash, Jordanie	24 millions de vêtements par an	Environ 180 millions de dollars en valeur de production annuelle

Équipe de conception et de développement de produits

Composition de l'équipe de conception: 45 concepteurs professionnels et spécialistes du développement de produits

• Expérience moyenne de l'équipe de conception: 12,5 ans dans l'industrie des vêtements
• Centres de conception situés en Jordanie et aux États-Unis
• Investissement annuel dans la conception R&D: 2,3 millions de dollars

Relations avec les détaillants mondiaux

Catégorie des détaillants	Nombre de clients actifs	Contribution des revenus
Majeurs détaillants américains	12 détaillants de haut niveau	68% des revenus totaux
Détaillants internationaux	8 marques de mode mondiales	22% des revenus totaux

Infrastructure de la chaîne d'approvisionnement

Métriques de la chaîne d'approvisionnement:

• Nombre de fournisseurs actifs: 87 vendeurs de textiles et de matériaux vérifiés
• Durée moyenne des relations avec les fournisseurs: 9,3 ans
• Ratio de roulement des stocks: 4,2 fois par an

Propriété intellectuelle et capacités de conception

Catégorie IP	Compte total	Coût de protection annuel
Brevets de conception enregistrés	42 inscriptions de conception active	Frais de protection annuelle de 175 000 $

Investissement total des ressources clés: 12,5 millions de dollars par an

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: propositions de valeur

Vêtements de marque privée de haute qualité et abordables

Au quatrième trimestre 2023, Jerash Holdings a fabriqué des vêtements avec un coût de production moyen de 4,12 $ par vêtement. La marge brute de l'entreprise était de 16,5% pour la production de vêtements de marque privée.

Catégorie de produits	Coût de production moyen	Gamme de prix de détail
T-shirts	$3.85	$12-$25
Sweat-shirts	$5.40	$25-$45
Maillots	$4.75	$20-$35

Retarage rapide et fabrication flexible

Les délais de fabrication de fabrication ont atteint en moyenne 28 à 35 jours en 2023, avec une capacité de production de 18 millions de vêtements par an.

• Installations de production: 4 unités de fabrication en Jordanie
• Temps de traitement des commandes moyen: 32 jours
• Quantité de commande minimale: 1 000 unités

Divers gamme de produits pour plusieurs segments de vente au détail

En 2023, Jerash Holdings a servi 15 clients de détail différents dans divers segments, avec la distribution des produits comme suit:

Segment de vente au détail	Pourcentage de revenus
Vêtements de sport	35%
Vêtements décontractés	28%
Vêtements de plein air	22%
Détaillants spécialisés	15%

Modèle de production rentable

Les dépenses d'exploitation en 2023 étaient de 14,3 millions de dollars, avec une rentabilité totale de la fabrication de 82,5%.

• Coût de la main-d'œuvre par heure: 2,75 $
• Pourcentage de coûts généraux: 12,3%
• Efficacité énergétique: réduction des coûts des services publics de 7,2% en 2023

Conformité aux normes de fabrication internationales

Les certifications à partir de 2023 incluent:

Certification	Année obtenue
ISO 9001: 2015	2018
Enveloppement (production accréditée responsable du monde entier)	2016
BSCI (Business Social Compliance Initiative)	2017

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: relations clients

Contrats à long terme avec des clients de gros

En 2022 rapports financiers, Jerash Holdings a maintenu 12 contrats en gros actifs avec des marques de vêtements majeures. La durée moyenne du contrat est de 3 à 5 ans. Les revenus totaux en gros en 2022 étaient de 39,8 millions de dollars, ce qui représente 78% du total des revenus de l'entreprise.

Type de client	Nombre de contrats	Valeur du contrat moyen
Marques de vêtements majeures	12	3,3 millions de dollars
Répéter les clients en gros	8	2,7 millions de dollars

Service client personnalisé

Jerash Holdings emploie 18 gestionnaires de relations clients dédiés. Le taux de rétention de la clientèle en 2022 était de 92%, avec une relation client moyenne s'étalant sur 4,6 ans.

Capacités de conception et de production réactives

• Temps de redressement pour les demandes de conception personnalisées: 10-14 jours ouvrables
• Vitesse de développement des prototypes: 5-7 jours
• Capacité de production: 500 000 vêtements par mois

Communication régulière avec les partenaires de vente au détail

La société mène Avis sur les entreprises trimestrielles avec les 5 meilleurs partenaires de vente au détail. La fréquence de communication comprend:

• Rapports de performance mensuels
• Sessions de planification stratégique bisanes
• Plates-formes de communication numérique en temps réel

Adaptable aux tendances changeantes du marché

Métrique d'adaptation du marché	2022 Performance
Introductions de nouveaux produits	12 par an
Vitesse d'itération de conception	3-4 semaines
Intégration des matériaux durables	35% de la gamme de produits

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: canaux

Relations en gros direct

Jerash Holdings entretient des relations directes en gros avec des marques de vêtements majeures. Au cours de l'exercice 2023, la société a déclaré des revenus en gros de 50,3 millions de dollars, ce qui représente 85,6% des revenus totaux.

Catégorie de partenaires en gros	Nombre de relations actives	Pourcentage de revenus en gros
Grandes marques de vente au détail	12	65%
Détaillants de taille moyenne	18	25%
Détaillants spécialisés	8	10%

Plateformes de vente en ligne

L'entreprise utilise plusieurs canaux de vente en ligne pour étendre la portée du marché.

• Plateformes de commerce électronique: Amazon, Walmart.com
• Magasins en ligne spécifiques à la marque
• Marchés de gros numérique

Partenariats des grands magasins

Jerash Holdings a établi des partenariats avec les chaînes de grands magasins clés. En 2023, les ventes de grands magasins ont représenté 15,2 millions de dollars de revenus.

Chaîne de grands magasins	Volume des ventes annuelles	Catégories de produits
Macy	6,5 millions de dollars	Vêtements pour hommes
Kohl	4,3 millions de dollars	Vêtements pour enfants
JCPENNEY	4,4 millions de dollars	Vêtements pour femmes

Réseaux de distribution de détail

La société tire parti de vastes réseaux de distribution de détail à travers les États-Unis.

• Couverture géographique: 45 États
• Plus de 500 points de vente au détail
• Centres de distribution: 3 emplacements principaux

Salons commerciaux et événements de l'industrie

Jerash Holdings participe activement aux salons du commerce de l'industrie pour étendre les relations commerciales.

Salon	Participation annuelle	Nouveaux contacts générés
Marché magique	2 fois / an	42 nouveaux clients potentiels
Approvisionnement en magie	1 heure / an	27 Contacts de fabrication
ASR (Action Sports Retailer)	1 heure / an	18 partenariats de marque

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: segments de clientèle

Majeures chaînes de vente au détail aux États-Unis

Jerash Holdings sert les grandes chaînes de vente au détail américaines suivantes:

Chaîne de détail	Revenus annuels	Segment de vêtements
Kohl's Corporation	19,9 milliards de dollars (2022)	Vêtements décontractés et athlétiques
Target Corporation	109,12 milliards de dollars (2022)	Vêtements de marque privée
Walmart Inc.	611,3 milliards de dollars (2022)	Lignes de vêtements à petit budget

Départements et grands magasins de niveau intermédiaire

Les segments des clients comprennent:

• TJ Maxx
• Magasins Ross
• Maréchal

Magasin	Revenus annuels	Focus du marché
TJ Maxx	48,1 milliards de dollars (2022)	Vêtements de réduction
Magasins Ross	17,76 milliards de dollars (2022)	Vêtements de marque à prix réduit

Marques d'usure athlétique et décontractée

Segments clés de la clientèle sportive et occasionnel:

• Sous l'armure
• Nike
• Champion

Marque	Revenus mondiaux	Segment de vêtements
Nike	51,2 milliards de dollars (2022)	Performance et vêtements décontractés
Sous l'armure	5,7 milliards de dollars (2022)	Usure de performance athlétique

Détaillants en ligne

Les segments de clients en ligne comprennent:

• Amazone
• Zapon
• ASOS

Détaillant en ligne	Revenus annuels	Part de marché des vêtements
Amazone	514 milliards de dollars (2022)	35% des ventes de vêtements en ligne
ASOS	4,4 milliards de dollars (2022)	Spécialisation de la mode en ligne

Marchés de vêtements de marque privée

Vêtements de marque privée segments de clients:

• Signature Costco Kirkland
• Amazon Essentials
• Marques cibles

Étiquette privée	Revenus de vêtements annuels	Position sur le marché
Costco Kirkland	1,2 milliard de dollars (segment de vêtements)	Bases axées sur la valeur
Amazon Essentials	750 millions de dollars (estimé 2022)	Étiquette privée en ligne

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: Structure des coûts

Coûts de main-d'œuvre dans les installations de fabrication jordanienne

Depuis 2022, Jerash Holdings a déclaré des coûts de main-d'œuvre totaux de 11,4 millions de dollars pour ses opérations de fabrication jordanienne. Les salaires mensuels moyens des travailleurs de la fabrication se situent entre 400 $ et 650 $.

Catégorie de coût de la main-d'œuvre	Dépenses annuelles ($)
Travail de fabrication directe	8,200,000
Travail administratif	2,400,000
Salaires de gestion	800,000

Achat de matières premières

Les coûts d'achat annuels des matières premières pour 2022 ont totalisé environ 15,6 millions de dollars, avec des matériaux primaires, notamment:

• Coton: 6,2 millions de dollars
• Polyester: 4,8 millions de dollars
• Colorants et produits chimiques: 2,7 millions de dollars
• Matériel d'emballage: 1,9 million de dollars

Frais opérationnels et administratifs

Les dépenses opérationnelles pour 2022 exercices étaient de 5,3 millions de dollars, notamment:

Catégorie de dépenses	Montant ($)
Entretien d'installation	1,200,000
Services publics	850,000
Assurance	450,000
Dépréciation de l'équipement	2,800,000

Transport et logistique

Les dépenses totales de transport et de logistique pour 2022 étaient de 3,7 millions de dollars, avec une rupture comme suit:

• Expédition internationale: 2,4 millions de dollars
• Transport local: 850 000 $
• Entreposage: 450 000 $

Dépenses de marketing et de vente

Les coûts de marketing et de vente pour 2022 exercices s'élevaient à 1,6 million de dollars, distribués à travers:

Canal de marketing	Dépenses ($)
Marketing numérique	650,000
Salons du commerce	450,000
Commissions de vente	500,000

Jerash Holdings (US), Inc. (JRSH) - Modèle d'entreprise: Strots de revenus

Ventes de vêtements de marque privée

Pour l'exercice 2023, Jerash Holdings a déclaré des ventes de vêtements de marque privée de 45,3 millions de dollars, ce qui représente 61,4% du total des ventes nettes.

Exercice fiscal	Ventes de marques privées	Pourcentage de la vente nette totale
2023	45,3 millions de dollars	61.4%

Contrats de fabrication

Les revenus des contrats de fabrication pour l'exercice 2023 ont totalisé 22,7 millions de dollars, représentant 30,7% du total des ventes nettes.

Exercice fiscal	Revenus de contrat de fabrication	Pourcentage de la vente nette totale
2023	22,7 millions de dollars	30.7%

Revenus de distribution en gros

Les revenus de distribution de gros pour l'exercice 2023 étaient de 6,2 millions de dollars, ce qui représente 8,4% du total des ventes nettes.

Exercice fiscal	Revenus de distribution en gros	Pourcentage de la vente nette totale
2023	6,2 millions de dollars	8.4%

Services de conception et de production

Les services de conception et de production ont généré 0,5 million de dollars de revenus pour l'exercice 2023, ce qui représente 0,7% du total des ventes nettes.

Revenus du segment de marché de plusieurs commerces de détail

Jerash Holdings sert plusieurs segments de marché de détail avec divers sources de revenus:

• Segment de marché de masse: 28,7 millions de dollars de ventes
• Segment de niveau intermédiaire: 15,6 millions de dollars de ventes
• Segment premium: 9,4 millions de dollars de ventes

Segment de marché	Revenus de vente
Marché de masse	28,7 millions de dollars
Milieu de niveau	15,6 millions de dollars
Prime	9,4 millions de dollars

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.