Jerash Holdings (EUA), Inc. (JRSH): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da fabricação de vestuário, Jerash Holdings (EUA), Inc. (JRSH) surge como uma potência estratégica, transformando o cenário de roupas de marca própria por meio de seu inovador modelo de negócios. Alavancando última geração Instalações de fabricação na Jordânia e uma complexa rede de parcerias globais, esta empresa criou magistralmente uma abordagem única que oferece roupas de alta qualidade e acessíveis às principais redes de varejo dos EUA. Ao misturar perfeitamente a inovação de design, a produção econômica e o gerenciamento robusto da cadeia de suprimentos, a Jerash Holdings se posicionou como um participante crítico na indústria de têxteis e vestuário competitiva, oferecendo soluções de fabricação flexíveis que atendem às demandas em constante evolução dos varejistas modernos.

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: Parcerias -chave

Fabricantes contratados na Jordânia

A Jerash Holdings opera através de várias instalações de fabricação de contratos localizadas nas zonas industriais qualificadas (QIZS) na Jordânia. A partir de 2023 relatórios financeiros, a empresa mantém 3 instalações de fabricação primárias com uma capacidade total de produção de aproximadamente 6,5 milhões de peças de vestuário anualmente.

Local de fabricação	Capacidade da instalação	Tipo de produção
Complexo de roupas de Jerash	2,5 milhões de peças/ano	Vestuário masculino e feminino
Al-Tajjar Facility	2 milhões de peças/ano	Desgaste atlético e casual
Fabricação de vestuário queen	2 milhões de peças/ano	Roupas de marca própria

Distribuidores por atacado

A empresa colabora com vários distribuidores atacadistas nos Estados Unidos. Em 2023, Jerash Holdings relatou Receita de US $ 64,1 milhões, com canais de distribuição significativos, incluindo:

• Centros de distribuição do Walmart
• Redes de atacado de destino
• Canais de atendimento da Amazon
• Plataformas atacadistas independentes

Parceiros de varejo

A Jerash Holdings mantém parcerias com várias principais redes de varejo e lojas de departamento. Os principais parceiros de varejo incluem:

Parceiro de varejo	Volume anual de pedidos	Categorias de produtos
Walmart	1,2 milhão de unidades	Desgaste casual dos homens
Alvo	800.000 unidades	Vestuário atlético
Costco	500.000 unidades	Roupas de marca própria

Fornecedores de tecido e matéria -prima

A empresa obtém matérias -primas principalmente de fornecedores na Ásia, com foco em países como China, Vietnã e Bangladesh. A partir de 2023, a quebra de fornecimento de material inclui:

• Fornecedores de algodão: 45% da China
• Tecidos sintéticos: 30% do Vietnã
• Têxteis especializados: 25% de Bangladesh

País fornecedor	Tipo de material	Valor anual de compras
China	Tecidos de algodão	US $ 12,5 milhões
Vietnã	Materiais sintéticos	US $ 8,7 milhões
Bangladesh	Têxteis especializados	US $ 6,3 milhões

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: Atividades -chave

Projetando e desenvolvendo roupas de marca própria

A partir do ano fiscal de 2023, Jerash Holdings designs roupas de marca própria para os principais varejistas, incluindo:

Varejista	Categorias de produtos
Walmart	Desgaste atlético e casual
Costco	Desempenho Sportswear
Amazon	Awear ativo e loungewear

Manufatura de desgaste atlético e casual

Os recursos de fabricação incluem:

• Capacidade total de fabricação: 36 milhões de roupas anualmente
• Instalações de produção localizadas na Jordânia
• Múltiplas linhas de produção para diferentes tipos de vestuário

Controle de qualidade e gerenciamento de conformidade

Métricas de qualidade para 2023:

Métrica	Desempenho
Taxa de conformidade de qualidade	98.5%
Taxa de defeito	1.5%
Certificações internacionais	ISO 9001: 2015

Marketing e desenvolvimento de marca

Despesas de marketing no ano fiscal de 2023: US $ 1,2 milhão

• Canais de marketing digital
• Participação na feira
• Gerenciamento de relacionamento com varejista

Realização de pedidos e logística de distribuição

Dados de desempenho de logística:

Métrica	Desempenho
Tempo médio de processamento de pedidos	3-5 dias úteis
Centros de distribuição	2 locais internacionais
Volume de envio anual	24 milhões de roupas

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: Recursos -chave

Instalações de fabricação na Jordânia

Espaço de fabricação total: 538.000 pés quadrados em três instalações na Jordânia

Localização da instalação	Capacidade de produção	Produção anual
Jerash, Jordan	24 milhões de roupas por ano	Aproximadamente US $ 180 milhões em valor de produção anual

Equipe de design e desenvolvimento de produtos

Composição da equipe de design: 45 designers profissionais e especialistas em desenvolvimento de produtos

• Experiência média da equipe de design: 12,5 anos na indústria de vestuário
• Centros de design localizados na Jordânia e Estados Unidos
• Investimento anual em design de pesquisa e desenvolvimento: US $ 2,3 milhões

Relacionamentos globais de varejistas

Categoria de varejista	Número de clientes ativos	Contribuição da receita
Principais varejistas dos EUA	12 varejistas de primeira linha	68% da receita total
Varejistas internacionais	8 marcas de moda global	22% da receita total

Infraestrutura da cadeia de suprimentos

Métricas da cadeia de suprimentos:

• Número de fornecedores ativos: 87 fornecedores de têxteis e materiais verificados
• Duração média do relacionamento do fornecedor: 9,3 anos
• Taxa de rotatividade de estoque: 4,2 vezes por ano

Capacidades de propriedade intelectual e design

Categoria IP	Contagem total	Custo de proteção anual
Patentes de design registradas	42 Registros de design ativo	US $ 175.000 despesas anuais de proteção IP

Investimento total de recursos -chave: US $ 12,5 milhões anualmente

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: proposições de valor

Roupas de marca privada de alta qualidade e de alta qualidade

No quarto trimestre 2023, a Jerash Holdings fabricou roupas com um custo médio de produção de US $ 4,12 por peça. A margem bruta da empresa foi de 16,5% para a produção de roupas de marca própria.

Categoria de produto	Custo médio de produção	Faixa de preço de varejo
Camisetas	$3.85	$12-$25
Moletons	$5.40	$25-$45
Camisas	$4.75	$20-$35

Recursos rápidos e fabricação flexível

Os prazos de manufatura em média de 28 a 35 dias em 2023, com capacidade de produção de 18 milhões de roupas anualmente.

• Instalações de produção: 4 unidades de fabricação na Jordânia
• Tempo médio de processamento de pedidos: 32 dias
• Quantidade mínima do pedido: 1.000 unidades

Gama de produtos diversificada para vários segmentos de varejo

Em 2023, a Jerash Holdings atendeu 15 clientes de varejo diferentes em vários segmentos, com a distribuição de produtos da seguinte forma:

Segmento de varejo	Porcentagem de receita
Desgaste atlético	35%
Vestuário casual	28%
Roupas ao ar livre	22%
Varejistas especializados	15%

Modelo de produção econômico

As despesas operacionais em 2023 foram de US $ 14,3 milhões, com uma eficiência total de custos de fabricação de 82,5%.

• Custo da mão -de -obra por hora: US $ 2,75
• Porcentagem de custo de sobrecarga: 12,3%
• Eficiência energética: custos de utilidade reduzidos em 7,2% em 2023

Conformidade com os padrões internacionais de fabricação

As certificações a partir de 2023 incluem:

Certificação	Ano obtido
ISO 9001: 2015	2018
WRAP (Produção Credenciada Responsável em todo o mundo)	2016
BSCI (Iniciativa de conformidade social de negócios)	2017

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de longo prazo com clientes atacadistas

A partir de 2022 relatórios financeiros, a Jerash Holdings mantinha 12 contratos de atacado ativos com grandes marcas de vestuário. A duração média do contrato é de 3-5 anos. A receita total do atacado em 2022 foi de US $ 39,8 milhões, representando 78% da receita total da empresa.

Tipo de cliente	Número de contratos	Valor médio do contrato
Principais marcas de vestuário	12	US $ 3,3 milhões
Repetir clientes atacadistas	8	US $ 2,7 milhões

Atendimento ao cliente personalizado

Jerash Holdings emprega 18 gerentes dedicados de relacionamento com clientes. A taxa de retenção de clientes em 2022 foi de 92%, com um relacionamento médio do cliente em 4,6 anos.

Capacidades de design e produção responsivas

• Tempo de resposta para solicitações de design personalizado: 10-14 dias úteis
• Velocidade de desenvolvimento do protótipo: 5-7 dias
• Capacidade de produção: 500.000 roupas por mês

Comunicação regular com parceiros de varejo

A empresa conduz Revisões de negócios trimestrais com os 5 principais parceiros de varejo. A frequência de comunicação inclui:

• Relatórios de desempenho mensais
• Sessões de planejamento estratégico semestral
• Plataformas de comunicação digital em tempo real

Adaptável às mudanças nas tendências do mercado

Métrica de adaptação de mercado	2022 Performance
Apresentações de novos produtos	12 por ano
Velocidade de iteração de projeto	3-4 semanas
Integração de material sustentável	35% da linha de produtos

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de Negócios: Canais

Relacionamentos diretos por atacado

A Jerash Holdings mantém relacionamentos diretos por atacado com as principais marcas de vestuário. No ano fiscal de 2023, a empresa registrou receita no atacado de US $ 50,3 milhões, representando 85,6% da receita total.

Categoria de parceiro por atacado	Número de relacionamentos ativos	Porcentagem da receita de atacado
Grandes marcas de varejo	12	65%
Varejistas de médio porte	18	25%
Varejistas especializados	8	10%

Plataformas de vendas on -line

A empresa utiliza vários canais de vendas on -line para expandir o alcance do mercado.

• Plataformas de comércio eletrônico: Amazon, Walmart.com
• Lojas online específicas da marca
• Mercados de atacado digital

Parcerias de lojas de departamento

A Jerash Holdings estabeleceu parcerias com as principais redes de lojas de departamento. Em 2023, as vendas de lojas de departamento representaram US $ 15,2 milhões em receita.

Cadeia de lojas de departamento	Volume anual de vendas	Categorias de produtos
Macy's	US $ 6,5 milhões	Vestuário masculino
Kohl's	US $ 4,3 milhões	Roupas infantis
JCPENNEY	US $ 4,4 milhões	Desgaste feminino

Redes de distribuição de varejo

A empresa aproveita extensas redes de distribuição de varejo nos Estados Unidos.

• Cobertura geográfica: 45 estados
• Mais de 500 pontos de venda de varejo
• Centros de distribuição: 3 locais primários

Feiras e eventos da indústria

A Jerash Holdings participa ativamente de feiras do setor para expandir as relações comerciais.

Feira de feira	Participação anual	Novos contatos gerados
Marketplace Magic	2 vezes/ano	42 novos clientes em potencial
Fornecimento na magia	1 hora/ano	27 contatos de fabricação
ASR (varejista de esportes de ação)	1 hora/ano	18 parcerias de marca

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: segmentos de clientes

Principais redes de varejo nos EUA

Jerash Holdings serve as seguintes principais redes de varejo nos EUA:

Cadeia de varejo	Receita anual	Segmento de roupas
Corporação de Kohl	US $ 19,9 bilhões (2022)	Desgaste casual e atlético
Corporação Target	US $ 109,12 bilhões (2022)	Roupas de marca própria
Walmart Inc.	US $ 611,3 bilhões (2022)	Linhas de roupas orçamentárias

Lojas de departamento de desconto e de nível intermediário

Os segmentos de clientes incluem:

• TJ Maxx
• Ross Stores
• Marshalls

Loja	Receita anual	Foco no mercado
TJ Maxx	US $ 48,1 bilhões (2022)	Roupas de desconto
Ross Stores	US $ 17,76 bilhões (2022)	Vestuário de marca com desconto

Marcas de desgaste atlético e casual

Principais segmentos de clientes atléticos e casuais:

• Under Armour
• Nike
• Campeão

Marca	Receita global	Segmento de roupas
Nike	US $ 51,2 bilhões (2022)	Desempenho e desgaste casual
Under Armour	US $ 5,7 bilhões (2022)	Desgaste do desempenho atlético

Varejistas on -line

Os segmentos de clientes on -line incluem:

• Amazon
• Zappos
• Asos

Varejista on -line	Receita anual	Participação de mercado de roupas
Amazon	US $ 514 bilhões (2022)	35% das vendas de roupas online
Asos	US $ 4,4 bilhões (2022)	Especialização da moda online

Mercados de roupas de marca própria

Roupas de marca própria segmentos de clientes:

• Costco Kirkland Signature
• Amazon Essentials
• Marcas de destino

Marca própria	Receita anual de roupas	Posição de mercado
Costco Kirkland	US $ 1,2 bilhão (segmento de roupas)	Noções básicas orientadas para o valor
Amazon Essentials	US $ 750 milhões (estimado 2022)	Marca própria online

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: estrutura de custos

Custos de mão -de -obra em instalações de fabricação da Jordânia

A partir de 2022, o Jerash Holdings registrou custos totais de mão -de -obra de US $ 11,4 milhões por suas operações de fabricação da Jordânia. Os salários médios mensais para os trabalhadores da manufatura variam entre US $ 400 e US $ 650.

Categoria de custo de mão -de -obra	Despesa anual ($)
Trabalho de fabricação direta	8,200,000
Trabalho administrativo	2,400,000
Salários de gerenciamento	800,000

Aquisição de matéria -prima

Os custos anuais de aquisição de matéria -prima para 2022 totalizaram aproximadamente US $ 15,6 milhões, com materiais primários, incluindo:

• Algodão: US $ 6,2 milhões
• Poliéster: US $ 4,8 milhões
• Corantes e produtos químicos: US $ 2,7 milhões
• Materiais de embalagem: US $ 1,9 milhão

Despesas operacionais e administrativas

As despesas operacionais para 2022 anos fiscais foram de US $ 5,3 milhões, incluindo:

Categoria de despesa	Valor ($)
Manutenção da instalação	1,200,000
Utilitários	850,000
Seguro	450,000
Depreciação do equipamento	2,800,000

Transporte e logística

As despesas totais de transporte e logística para 2022 foram de US $ 3,7 milhões, com a quebra da seguinte maneira:

• Envio internacional: US $ 2,4 milhões
• Transporte local: US $ 850.000
• Armazenamento: US $ 450.000

Despesas de marketing e vendas

Os custos de marketing e vendas de 2022 anos fiscais totalizaram US $ 1,6 milhão, distribuídos:

Canal de marketing	Despesa ($)
Marketing digital	650,000
Feiras	450,000
Comissões de vendas	500,000

Jerash Holdings (EUA), Inc. (JRSH) - Modelo de negócios: fluxos de receita

Vendas de roupas de marca própria

Para o ano fiscal de 2023, a Jerash Holdings registrou vendas de roupas de marca própria de US $ 45,3 milhões, representando 61,4% do total de vendas líquidas.

Ano fiscal	Vendas de marca própria	Porcentagem de vendas líquidas totais
2023	US $ 45,3 milhões	61.4%

Contratos de fabricação

As receitas do contrato de manufatura para o ano fiscal de 2023 totalizaram US $ 22,7 milhões, representando 30,7% do total de vendas líquidas.

Ano fiscal	Receitas de contrato de fabricação	Porcentagem de vendas líquidas totais
2023	US $ 22,7 milhões	30.7%

Receitas de distribuição por atacado

As receitas de distribuição por atacado para o ano fiscal de 2023 foram de US $ 6,2 milhões, representando 8,4% do total de vendas líquidas.

Ano fiscal	Receitas de distribuição por atacado	Porcentagem de vendas líquidas totais
2023	US $ 6,2 milhões	8.4%

Serviços de design e produção

Os serviços de design e produção geraram US $ 0,5 milhão em receita para o ano fiscal de 2023, compreendendo 0,7% do total de vendas líquidas.

Várias receitas de segmento de mercado de varejo

A Jerash Holdings serve a vários segmentos de mercado de varejo com diversos fluxos de receita:

• Segmento de mercado de massa: US $ 28,7 milhões em vendas
• Segmento de nível intermediário: US $ 15,6 milhões em vendas
• Segmento premium: US $ 9,4 milhões em vendas

Segmento de mercado	Receita de vendas
Mercado de massa	US $ 28,7 milhões
Intermediário	US $ 15,6 milhões
Premium	US $ 9,4 milhões

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.