Jerash Holdings (US), Inc.
Jerash Holdings (US), Inc. manufactures customized ready-made sportswear, outerwear, and related apparel for branded customers, with production centered in Jordan. The company operates as a contract garment manufacturer, supplying items such as jackets, polo shirts, t-shirts, pants, shorts, and PPE through its own factories and trading/sales subsidiaries.
Fiscal year 2026 · change from previous year
Development 2021–2026
Business
Share of revenueCustom-made knit apparel including jackets, polo shirts, t-shirts, pants, and shorts.
Made-to-order production for global apparel brands and retailers under customer specifications.
Personal protective equipment manufactured and traded through Jerash The First and Jerash Supplies.
Cooltrans-printed fiber and fabric supply through the Hong Kong joint venture.
Customers
Jerash sells primarily to large branded apparel companies and retailers that outsource production rather than own factories. Its customer base is concentrated in well-known global brands, with VF Corporation representing the largest relationship and other customers including New Balance, G-III, Hugo Boss, American Eagle, Skechers, and related trading partners.
Manufactured apparel sold directly and indirectly under The North Face, Timberland, and Vans brands.
Brands such as New Balance, G-III, Hugo Boss, American Eagle, Skechers, and others buy custom garments to supplement their sourcing base.
Retailers and licensees that need reliable factory capacity, sample development, and on-time delivery for seasonal programs.
Customers and trading counterparties for protective equipment products, a smaller and less central business line.
Strategy
Jerash is expanding production capacity in Jordan to support future sales growth and to secure larger commitments from existing customers. Management is also broadening the customer base, adding new brands, and using joint ventures and support offices in Hong Kong and China to strengthen sourcing, merchandising, and sales execution.
Higher capacity is needed to support new customer wins and larger orders from existing brands.
Reducing dependence on VF Corporation lowers revenue concentration and pricing pressure.
Support offices help manage samples, procurement, and customer responsiveness across Asia.
Geography
2026Jerash’s manufacturing footprint is concentrated in Jordan, where its factories and warehouses are located in Al Tajamouat Industrial City and Al-Hasa County. Revenue is heavily exposed to the United States, while China/Hong Kong, Korea, Jordan, and other markets contribute smaller shares through sales, sourcing, and support activities.
Share of the revenue the company reports by geography.
Risks
Jerash is highly exposed to customer concentration, with VF Corporation accounting for a large share of sales and a loss or slowdown at any major brand quickly affecting volumes. The business is also exposed to Jordan-specific operating and geopolitical risk, since production is concentrated in one country and the company has limited insurance for war or terrorism-related disruptions.
- Customer concentrationImpact: CriticalLikelihood: Medium
VF Corporation represented about 65% of fiscal 2025 sales, so any volume or sourcing change would materially affect revenue.
Exposure: VF Corporation and related brands
- Geopolitical and country concentration risk in JordanImpact: HighLikelihood: Medium
Most production is located in Jordan, so unrest, conflict, or logistics disruption could halt manufacturing and shipments.
Exposure: Jordan operations
- Competitive pricing pressureImpact: HighLikelihood: Medium
Apparel manufacturing is highly competitive and customers can shift orders to lower-cost suppliers.
Exposure: Global sportswear and outerwear sourcing
- Capacity utilization riskImpact: Medium
New factories and capex only pay off if customer demand grows as planned; underutilization would hurt margins.
Exposure: Production expansion program
Accounting
Judgemental itemsJerash reports VF-related sales on a gross basis because it bears inventory risk and controls pricing during sample development.
Impact: Inflates reported revenue and cost of sales versus a net presentation
Factory, dormitory, and capacity expansion projects are material and will affect depreciation and future utilization.
Impact: Higher depreciation and potential impairment if growth assumptions weaken
Apparel shipments depend on customer programs and can vary by quarter, affecting comparability.
Impact: Quarterly revenue and margin volatility
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Last updated: 24/09/2026