Case - Description - FIN630.docxThe CaseNike, which curr.docx

Case - Description - FIN630.docx
The Case
Nike, which currently views itself as operating in the sporting
wear (shoes and clothes) segment, is considering an expansion
into the fashion apparel business, producing high-priced casual
clothing for teenagers and young adults. You have been asked to
collect the data to make the assessment and have come back
with the following information:
1. You estimate that is will cost Nike $2.5 billion to get started
in this business. Of this, $1 billion will have to be spent right
now acquiring land and other assets needed for the business.
The remaining $1.5 billion will be spent in one year. The
business will be operational at the end of the second year.
2. The $1.5 billion invested in one year will be depreciated over
the following 10 years on a straight-line basis. (The $1 billion
invested today will not be depreciated.)
3. You have hired a market-testing company to do a market
study. Their initial study, which has already been completed
and expensed, cost $250 million and has provided you with a
sense of the market and Nike’s potential place in it.
4. The total revenue for the casual apparel industry is estimated
to be $75 billion currently, and should grow at 5% per year.
Nike is expected to gain a 2% share in the first year it enters the
market (which will be the third year), and to increase its market
share by 0.5% a year to a maximum of 5% in the ninth year.
After that point, Nike’s revenues are expected to grow at the
same rate as the overall market. (The template I have provided
includes the computations associated with this point.)
5. Nike expects to generate 50% of the apparel revenue in the
United States, 30% from China, and 20% from India.

6. The cost of goods sold are expected to be 77% of revenues.
7. Nike will allocate 5% of project revenues to the new apparel
division as general and administrative expenses. If it takes this
project, Nike expects it will have to increase company-wide
general and administrative costs by $50 million in year 3 when
the new project starts generating revenue. This number will
grow with project revenues.
8. Nike expects to spend $70 million on advertising for the new
division in year 3, and advertising expenses for the division are
expected to grow at 4% per year thereafter.
9. The apparel division will create working capital needs:
a. The sale of apparel on credit to large retailers will create
accounts receivable equal to 5% of revenues.
b. Inventory (both raw and finished goods) will be 10% of cost
of goods sold.
c. Credit offered by suppliers will be 7.5% of cost of goods
sold.
d. All of these working capital investments will have to be made
at the beginning of the year in which the goods are sold.
10. The beta for Nike is 0.72, calculated using monthly returns
over the last 3 years and against the S&P 500 index.
11. The current stock price is $82 and there are 1.26 billion
shares outstanding.
12. Nike is currently rated A+ and A+ rated bonds trade at a
default spread of 1.0% over the long-term U.S. treasury bond
rate. Nike’s interest bearing debt (short and long term) has an
average maturity of 5 years. The book value of the debt is
$3,500 million and last year, the company’s interest expense
was $124 million. Nike also has lease commitments as follows:
Years out

Operating Lease Commitments (in $million)
Next year
589
Year 2
523
Year 3
472
Year 4
412
Year 5
361
Thereafter
1,608
13. Nike’s historical effective tax rate is 24%, but its marginal
tax rate is 21%.
14. The current long-term U.S. Treasury bond rate is 1.52%, and
the expected inflation rate is 2%. For the equity risk premiums
you can use, the numbers for 2019 found here:
http://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile
/ctryprem.html.
Case - World Apparel Company Data - 2019.xlsx
Sheet1Company NameExchange:TickerIndustry
GroupCountryBroad GroupSub GroupMarket Cap (in US $)PV
of lease debtTotal DebtTotal Debt incl leases (in US $)Firm
Value (in US $)CashEnterprise Value (in US $)Cash/ Firm
ValueBetaMarginal Tax Rateunleveredcash correctedMing Le
Sports AG (DB:ML2)DB:ML2ApparelGermanyDeveloped
EuropeEU & Environs$0.78$0.00$0.00$0.00$0.78$2.54-
$1.77327.74%3.2515.00%3.2525806452-1.4281869688KBS
Fashion Group Limited
(NasdaqCM:KBSF)NasdaqCM:KBSFApparelChinaEmerging
MarketsChina$6.60$1.85$2.01$3.86$10.46$24.10-

$13.64230.31%2.7325.00%1.8989135879-
1.4572820534Maruhachi Holdings Co., Ltd.
(NSE:3504)NSE:3504ApparelJapanJapanJapan$111.80$0.00$61.
70$61.70$173.50$240.80-
$67.30138.79%0.6230.86%0.449385648-1.158520207Weiqiao
Textile Company Limited
(SEHK:2698)SEHK:2698ApparelChinaEmerging
MarketsChina$404.20$26.18$1,054.90$1,081.08$1,485.28$1,99
7.10-$511.82134.46%1.8225.00%0.6063063176-
1.7594789691FUJIX Ltd.
(TSE:3600)TSE:3600ApparelJapanJapanJapan$23.70$0.00$0.00
$0.00$23.70$27.40-$3.70115.61%0.3530.86%0.3492755102-
2.237251241Tsutsumi Jewelry Co., Ltd.
0$0.48$292.78$337.10-
$44.32115.14%0.5730.86%0.5644567286-3.7284093684Barbara
Bui SA (ENXTPA:BUI)ENXTPA:BUIApparelFranceDeveloped
EuropeEU &
Environs$5.40$0.00$0.63$0.63$6.03$5.24$0.7986.91%-
0.4433.00%-0.4036886403-3.0847133236L & A International
Holdings Limited (SEHK:8195)SEHK:8195ApparelHong
KongEmerging
MarketsChina$5.72$0.01$0.00$0.01$5.73$4.96$0.7786.53%-
0.1816.50%-0.18149793-1.3477078185Speedy Global Holdings
Limited (SEHK:540)SEHK:540ApparelChinaEmerging
MarketsChina$23.80$3.89$4.44$8.33$32.13$27.70$4.4386.21%
0.6525.00%0.51306923513.7214560394Soko Seiren Co.,Ltd.
(TSE:3578)TSE:3578ApparelJapanJapanJapan$9.18$0.00$6.06$
6.06$15.24$12.40$2.8481.36%-0.2630.86%-0.181302124-
0.9729029473Fuji Corporation
(JASDAQ:3515)JASDAQ:3515ApparelJapanJapanJapan$23.50$
0.00$7.86$7.86$31.36$23.50$7.8674.94%0.7030.86%0.5687345
3822.2691495062Rajesh Exports Limited
(NSEI:RAJESHEXPO)NSEI:RAJESHEXPOApparelIndiaEmergi
ng
MarketsIndia$2,427.20$0.00$1,187.90$1,187.90$3,615.10$2,47

5.70$1,139.4068.48%0.3035.00%0.22717386070.7207795541Co
ntinental Holdings Limited (SEHK:513)SEHK:513ApparelHong
KongEmerging
MarketsChina$88.10$0.53$127.40$127.93$216.03$143.80$72.2
366.57%1.9416.50%0.87852655272.6276162949CSP
International Fashion Group S.p.A.
(BIT:CSP)BIT:CSPApparelItalyDeveloped EuropeEU &
Environs$27.80$0.00$25.20$25.20$53.00$33.50$19.5063.21%1.
4824.00%0.87575485462.3802567844Reward Wool Industry
Corporation (TSEC:1423)TSEC:1423ApparelTaiwanEmerging
MarketsSmall
Asia$37.80$0.00$0.00$0.00$37.80$23.00$14.8060.85%0.3620.0
0%0.36151162790.9233202388Renown Incorporated
0$32.31$118.41$71.70$46.7160.55%0.9330.86%0.73589068661
.865549025Zenith Fibres Limited
(BSE:514266)BSE:514266ApparelIndiaEmerging
MarketsIndia$4.00$0.00$0.00$0.00$4.00$2.36$1.6459.00%0.40
35.00%0.39881395350.9727169597Sanyo Shokai Ltd.
(TSE:8011)TSE:8011ApparelJapanJapanJapan$204.60$4.70$80.
70$85.40$290.00$166.90$123.1057.55%0.7130.86%0.55251795
041.3016258515Hifood Group Holdings Co., Limited
(SEHK:442)SEHK:442ApparelHong KongEmerging
MarketsChina$48.50$0.85$0.00$0.85$49.35$27.10$22.2554.91
%0.1016.50%0.09867046850.2188429527Solar Company S.A.
(WSE:SOL)WSE:SOLApparelPolandDeveloped EuropeEU &
Environs$3.83$0.00$0.07$0.07$3.90$2.13$1.7754.69%0.8019.0
0%0.78525371141.7328970005My Heart Bodibra Group
Limited (SEHK:8297)SEHK:8297ApparelHong KongEmerging
MarketsChina$11.00$2.32$0.24$2.56$13.56$7.27$6.2953.60%0.
3216.50%0.26545982260.5720525656PCCS Group Berhad
(KLSE:PCCS)KLSE:PCCSApparelMalaysiaEmerging
MarketsSmall
Asia$9.65$3.58$8.54$12.12$21.77$11.60$10.1753.29%2.5324.0
0%1.29292215882.7678167726Pasupati Acrylon Limited

MarketsIndia$27.50$0.00$1.34$1.34$28.84$14.80$14.0451.32%
0.3835.00%0.36571900720.7512347698Piquadro S.p.A.
(BIT:PQ)BIT:PQApparelItalyDeveloped EuropeEU &
Environs$96.40$0.00$27.50$27.50$123.90$63.10$60.8050.93%
1.6324.00%1.34324544182.7373044447Marushohotta Co.,Ltd.
$0.00$37.70$19.10$18.6050.66%1.6130.86%1.61122448983.26
57614659Look Holdings Incorporated
0$24.20$91.70$45.90$45.8050.05%0.9830.86%0.78243554641.
5665527192Interma Trade S.A.
(WSE:ITM)WSE:ITMApparelPolandDeveloped EuropeEU &
Environs$4.48$0.00$0.22$0.22$4.70$2.33$2.3749.62%-
0.1519.00%-0.1470631119-0.2918885771Atsugi Co., Ltd.
0$0.00$139.30$68.60$70.7049.25%0.5130.86%0.51323469391.
0112247929Topbi International Holdings Limited
(TSEC:2929)TSEC:2929ApparelTaiwanEmerging MarketsSmall
Asia$224.20$0.12$32.50$32.62$256.82$124.00$132.8248.28%1
.0020.00%0.89680307921.7340560969Estelle Holdings Co.,Ltd.
0$95.92$158.22$76.10$82.1248.10%0.7030.86%0.34022804640
.6555011121Yamato International Inc.
$8.63$83.83$40.30$43.5348.07%0.7130.86%0.65795731011.26
70930692Jiangsu Sanfangxiang Industry Co., Ltd
(SHSE:600370)SHSE:600370ApparelChinaEmerging
MarketsChina$336.20$0.00$0.00$0.00$336.20$156.80$179.404
6.64%1.2225.00%1.22218604652.2904066267China Ting Group
KongEmerging
MarketsChina$101.90$2.83$43.50$46.33$148.23$68.80$79.434
6.41%0.6516.50%0.47176478440.8804022136Xingye Leather
Technology Co., Ltd.
(SZSE:002674)SZSE:002674ApparelChinaEmerging
MarketsChina$333.40$0.00$14.60$14.60$348.00$157.00$191.0

045.11%1.4525.00%1.40657082942.5627573227Sakai Ovex
Co.,Ltd.
80$22.80$125.90$55.90$70.0044.40%1.0930.86%0.9462213563
1.7018466965Youngone Holdings Co., Ltd.
(KOSE:A009970)KOSE:A009970ApparelSouth KoreaEmerging
MarketsSmall
Asia$650.60$0.00$465.70$465.70$1,116.30$484.70$631.6043.4
2%0.2328.00%0.15322003140.2708035483Victory City
International Holdings Limited
MarketsChina$68.10$2.71$700.60$703.31$771.41$333.50$437.
9143.23%1.5016.50%0.15536233570.2736816427Ginza
Yamagataya Co., Ltd.
0.00$0.00$0.00$27.00$11.60$15.4042.96%0.1130.86%0.113469
38780.1989398357AZEARTH Corporation
$1.06$22.96$9.72$13.2442.33%0.4630.86%0.44830363120.777
4207985Rhythm Watch Co., Ltd.
30$51.12$193.32$81.80$111.5242.31%0.6630.86%0.527003683
70.9135511419J. A. Textile Mills Limited
(KASE:JATM)KASE:JATMApparelPakistanEmerging
MarketsSmall
Asia$0.45$0.00$0.01$0.01$0.46$0.19$0.2741.87%0.0230.00%0.
0168842990.0290435144MRK Holdings Inc.
0$0.10$129.50$53.90$75.6041.62%1.3730.86%1.36429291042.
3370218265Yangtzekiang Garment Limited
MarketsChina$81.80$0.29$0.00$0.29$82.09$34.10$47.9941.54
%0.0116.50%0.01291563990.0220935966Sun Hing Vision
Group Holdings Limited (SEHK:125)SEHK:125ApparelHong
KongEmerging
MarketsChina$89.30$5.66$6.07$11.73$101.03$41.00$60.0340.5

8%0.7116.50%0.63874122861.0750067022Saibo Co., Ltd.
0$18.70$67.10$26.50$40.6039.49%0.4930.86%0.38573375180.
6375057819361 Degrees International Limited
MarketsChina$430.30$1.16$411.40$412.56$842.86$323.40$519
.4638.37%2.7225.00%1.58278935552.5681933294Thai Toray
Textile Mills Public Company Limited
(SET:TTTM)SET:TTTMApparelThailandEmerging
MarketsSmall
Asia$37.60$0.00$0.00$0.00$37.60$14.40$23.2038.30%0.3320.0
0%0.33248837210.5388604651TBH Global Co., Ltd
MarketsSmall
Asia$55.90$0.00$76.90$76.90$132.80$50.40$82.4037.95%1.40
28.00%0.70282111661.1327019937Source Industries (India)
Limited (BSE:521036)BSE:521036ApparelIndiaEmerging
MarketsIndia$0.15$0.00$0.03$0.03$0.18$0.07$0.1137.91%0.39
35.00%0.34632633770.5577999421Nan Yang Dyeing &
Finishing Co.,Ltd
Asia$45.00$0.00$0.00$0.00$45.00$16.90$28.1037.56%0.2320.0
0%0.23039534880.368960523Tokai Senko K.K.
0$17.50$46.30$17.10$29.2036.93%0.5930.86%0.41401314470.
656466048CEFC Hong Kong Financial Investment Company
MarketsChina$43.20$1.45$0.07$1.52$44.72$16.50$28.2236.89
%2.0216.50%1.96662550793.1163800309Baroque Japan
Limited
50$96.50$400.30$146.10$254.2036.50%0.7930.86%0.64394509
231.014048861Xtep International Holdings Limited
MarketsChina$1,205.50$3.66$298.80$302.46$1,507.96$547.90$
960.0636.33%1.1025.00%0.92598763181.4544454521Morito

Co., Ltd.
20$44.85$242.75$87.60$155.1536.09%0.8130.86%0.702072246
81.0984828167Matsuoka Corporation
30$71.30$311.50$111.30$200.2035.73%0.9130.86%0.75532050
291.1752364468Voith Paper Fabrics India Limited
MarketsIndia$49.60$0.00$0.00$0.00$49.60$17.00$32.6034.27%
0.6535.00%0.64639534880.983472678China Outfitters
Holdings Limited
MarketsChina$99.00$0.64$0.00$0.64$99.64$34.00$65.6434.12
%-0.1125.00%-0.1046068464-0.1587884291Ratti S.p.A.
(BIT:RAT)BIT:RATApparelItalyDeveloped EuropeEU &
Environs$88.60$0.00$43.90$43.90$132.50$45.20$87.3034.11%
0.5824.00%0.41949790050.6366949807Greatime International
KongEmerging
MarketsChina$46.10$0.67$15.30$15.97$62.07$20.50$41.5733.0
3%2.8616.50%2.22135963693.316783643Win Hanverky
KongEmerging
MarketsChina$126.30$46.97$46.60$93.57$219.87$72.00$147.8
732.75%1.8616.50%1.14893539441.7083609882Nippon Felt
Co., Ltd.
0$10.30$89.60$29.30$60.3032.70%0.5630.86%0.51666305760.
767711608Chargeurs SA
(ENXTPA:CRI)ENXTPA:CRIApparelFranceDeveloped
EuropeEU &
Environs$444.40$12.01$244.50$256.51$700.91$228.60$472.31
32.61%2.5833.00%1.85978794032.7599240618Prolexus Berhad
(KLSE:PRLEXUS)KLSE:PRLEXUSApparelMalaysiaEmerging
MarketsSmall
Asia$23.20$0.00$22.00$22.00$45.20$14.60$30.6032.30%0.422

4.00%0.24502073920.3619260591Shinih Enterprise Co., Ltd.
Asia$58.10$2.74$55.30$58.04$116.14$37.10$79.0431.94%0.68
20.00%0.37766359860.55492977Texwinca Holdings Limited
MarketsChina$451.70$131.11$150.10$281.21$732.91$230.30$5
02.6131.42%1.2716.50%0.83420534811.2164428931Nien Hsing
Textile Co., Ltd.
Asia$167.00$0.00$37.70$37.70$204.70$63.90$140.8031.22%0.
5620.00%0.47786156440.6947319762Kohsai Co.,Ltd.
(JASDAQ:7878)JASDAQ:7878ApparelJapanJapanJapan$8.55$0.
00$3.15$3.15$11.70$3.61$8.0930.85%0.1730.86%0.138602467
40.2004510344Cosmo Lady (China) Holdings Company Limited
MarketsChina$792.30$68.21$28.50$96.71$889.01$274.10$614.
9130.83%0.9125.00%0.83297435051.2042762962Levi Strauss
Japan Kabushiki Kaisha
2.78$0.00$2.78$66.88$20.50$46.3830.65%0.2330.86%0.219538
86510.3165657519Singtex Industrial Co., Ltd.
(GTSM:4433)GTSM:4433ApparelTaiwanEmerging
MarketsSmall
Asia$28.20$0.79$13.50$14.29$42.49$13.00$29.4930.60%-
0.0120.00%-0.0086053807-0.0123993391Binh Thanh Import
Export Production and Trade Joint Stock Company
(HOSE:GIL)HOSE:GILApparelVietnamEmerging MarketsSmall
Asia$25.30$0.00$29.20$29.20$54.50$16.60$37.9030.46%0.432
0.00%0.22127433830.3181913308Zenith Exports Limited
MarketsIndia$3.36$0.00$1.36$1.36$4.72$1.42$3.3030.08%1.71
35.00%1.35748109511.9416093238Safilo Group S.p.A.
(BIT:SFL)BIT:SFLApparelItalyDeveloped EuropeEU &
Environs$50.20$60.77$331.40$392.17$442.37$131.80$310.572
9.79%1.8024.00%0.25916095420.3691444403Bagir Group Ltd.
(AIM:BAGR)AIM:BAGRApparelIsraelEmerging MarketsAfrica

and Middle
East$5.54$0.00$3.95$3.95$9.49$2.82$6.6729.72%1.3223.00%0.
85450079881.2157740001Hakers Enterprise Co., Ltd.
MarketsSmall
Asia$46.70$0.00$0.00$0.00$46.70$13.80$32.9029.55%1.1720.0
0%1.16539534881.654223793Time Watch Investments Limited
MarketsChina$297.50$7.09$25.80$32.89$330.39$97.10$233.29
29.39%1.0316.50%0.94473812421.3379548523Fountain Set
(Holdings) Limited (SEHK:420)SEHK:420ApparelHong
KongEmerging
MarketsChina$189.30$33.47$139.70$173.17$362.47$104.60$25
7.8728.86%1.5816.50%0.89604468081.2595082099China
Partytime Culture Holdings Limited
MarketsChina$45.90$0.06$10.10$10.16$56.06$16.10$39.9628.7
2%2.1925.00%1.88109211082.6390362754Cross Plus Inc.
0$63.80$111.60$32.00$79.6028.67%0.6430.86%0.33535799420
.4701752783Top Form International Limited
MarketsChina$42.30$4.03$0.03$4.06$46.36$13.10$33.2628.26
%0.5116.50%0.47334095670.6597865117Mytrex Health
Technologies, Inc.
MarketsSmall
Asia$13.10$0.46$1.76$2.22$15.32$4.31$11.0128.13%1.0120.00
%0.8891466181.2370879934Pak Tak International Limited
MarketsChina$111.10$1.27$52.80$54.07$165.17$46.30$118.87
28.03%1.2116.50%0.86206051761.197838307Honmyue
Enterprise Co., Ltd.
Asia$44.80$0.26$46.00$46.26$91.06$25.50$65.5628.00%0.642
0.00%0.34981762640.4858896799GFun Industrial Corporation

MarketsSmall
Asia$24.40$0.00$2.42$2.42$26.82$7.43$19.3927.70%0.3920.00
%0.36406687110.5035726396Shandong Ruyi Woolen Garment
Group Co., Ltd.
MarketsChina$333.40$0.00$180.10$180.10$513.50$142.20$371
.3027.69%0.7425.00%0.52916865090.7318289853ONLY
corporation
$1.37$47.67$13.20$34.4727.69%0.5530.86%0.54324760910.75
12906114JLM Couture, Inc.
(OTCPK:JLMC)OTCPK:JLMCApparelUnited StatesUnited
StatesUnited
States$17.60$3.23$0.40$3.63$21.23$5.84$15.3927.51%0.2825.
00%0.24265488360.3347611408Adinath Textiles Limited
MarketsIndia$0.29$0.00$0.00$0.00$0.29$0.08$0.2127.30%0.43
35.00%0.4337785830.5967001166Tokyo Soir Co., Ltd.
$0.00$24.90$6.77$18.1327.19%0.5130.86%0.50594897960.694
8775285Zhulian Corporation Berhad
(KLSE:ZHULIAN)KLSE:ZHULIANApparelMalaysiaEmerging
MarketsSmall
Asia$141.30$0.17$0.00$0.17$141.47$38.40$103.0727.14%1.18
24.00%1.18379438891.6248113204Stefanel S.p.A.
(BIT:STEF)BIT:STEFApparelItalyDeveloped EuropeEU &
Environs$23.50$0.00$75.30$75.30$98.80$26.80$72.0027.13%1.
9024.00%0.55384778760.7600022418Luen Thai Holdings
MarketsChina$112.20$17.81$95.00$112.81$225.01$61.00$164.
0127.11%0.8616.50%0.46485798190.6377474109Kurabo
Industries Ltd.
(TSE:3106)TSE:3106ApparelJapanJapanJapan$483.20$0.00$164
.60$164.60$647.80$172.70$475.1026.66%1.3030.86%1.053516
16581.4364718421Bijou Brigitte modische Accessoires

Aktiengesellschaft (DB:BIJ)DB:BIJApparelGermanyDeveloped
EuropeEU &
Environs$309.20$221.92$0.00$221.92$531.12$139.20$391.922
6.21%0.5815.00%0.36060307960.4886792861Carnival
Industrial Corporation
Asia$61.20$0.00$12.10$12.10$73.30$19.00$54.3025.92%0.922
0.00%0.79638471841.0750460379Forward Industries, Inc.
(NasdaqCM:FORD)NasdaqCM:FORDApparelUnited
StatesUnited StatesUnited
States$12.40$2.18$2.30$4.48$16.88$4.37$12.5125.89%0.6625.
00%0.52295735010.7056759508Mainland Headwear Holdings
MarketsChina$56.90$1.85$16.20$18.05$74.95$19.30$55.6525.7
5%0.5816.50%0.46074328920.6205218253Li Peng Enterprise
Co., Ltd. (TSEC:1447)TSEC:1447ApparelTaiwanEmerging
MarketsSmall
Asia$212.90$0.00$203.10$203.10$416.00$106.90$309.1025.70
%1.2320.00%0.6989240670.9406419019Aksa Akrilik Kimya
Sanayii A.S.
(IBSE:AKSA)IBSE:AKSAApparelTurkeyDeveloped EuropeEU
&
Environs$260.60$0.00$404.20$404.20$664.80$168.50$496.302
5.35%0.9422.00%0.42544928470.5698945889KEE Holdings
Company Limited (SEHK:2011)SEHK:2011ApparelHong
KongEmerging
MarketsChina$36.20$1.55$0.00$1.55$37.75$9.53$28.2225.25%
1.3316.50%1.27939905221.7115301344Embry Holdings
MarketsChina$125.10$24.07$53.30$77.37$202.47$50.90$151.5
725.14%1.0016.50%0.656204820.8765665391JICHODO
Co.,Ltd.
0$0.00$192.30$48.20$144.1025.07%0.1730.86%0.16585714290
.2213346882Fujian Septwolves Industry Co., Ltd.

MarketsChina$681.30$0.00$72.80$72.80$754.10$187.20$566.9
024.82%1.1025.00%1.01590965971.3513802689Sitoy Group
KongEmerging
MarketsChina$223.10$6.58$0.00$6.58$229.68$57.00$172.6824.
82%0.6416.50%0.62452933590.8306818103Sanko Pazarlama
Ithalat Ihracat Anonim Sirketi
(IBSE:SANKO)IBSE:SANKOApparelTurkeyDeveloped
EuropeEU &
Environs$39.30$0.00$0.00$0.00$39.30$9.71$29.5924.71%0.432
2.00%0.43075806450.5721119275Odd Molly International AB
(publ) (OM:ODD)OM:ODDApparelSwedenDeveloped
EuropeEU &
Environs$7.51$0.00$2.20$2.20$9.71$2.38$7.3324.51%0.8922.0
0%0.72727309920.9634136143Hansaemk Co.,Ltd.
MarketsSmall
Asia$89.10$0.00$10.60$10.60$99.70$24.30$75.4024.37%0.962
8.00%0.88702084111.172890953Ruentex Industries Limited
Asia$1,379.00$0.00$758.30$758.30$2,137.30$519.40$1,617.90
24.30%1.1920.00%0.82765014431.0933535159AS Rigas
Juvelierizstradajumu Rupnica
(RISE:RJR1R)RISE:RJR1RApparelLatviaEmerging
MarketsEastern Europe &
Russia$0.46$0.00$0.00$0.00$0.46$0.11$0.3524.30%-
0.1720.00%-0.1719767442-0.2271669887Bon Fame Co., Ltd.
MarketsSmall
Asia$94.00$0.00$22.10$22.10$116.10$28.00$88.1024.12%1.27
20.00%1.07039548211.4105892789Thob Al Aseel Co.
(SASE:9507)SASE:9507ApparelSaudi ArabiaEmerging
MarketsAfrica and Middle
East$165.10$0.00$0.00$0.00$165.10$39.80$125.3024.11%1.10
20.00%1.10088372091.4505658605Nihon Seimitsu Co., Ltd.

0.00$29.60$29.60$45.50$10.90$34.6023.96%1.4330.86%0.6240
1849510.8206023563Ever-Glory International Group, Inc.
(NasdaqGM:EVK)NasdaqGM:EVKApparelChinaEmerging
MarketsChina$59.10$8.31$35.60$43.91$103.01$24.50$78.5123.
78%0.9625.00%0.61545238020.8074996277Nameson Holdings
MarketsChina$189.20$0.52$242.80$243.32$432.52$102.40$330
.1223.67%4.7916.50%2.30733836263.0230425445Shinnaigai
Textile Ltd.
$1.98$15.78$3.71$12.0723.51%0.5430.86%0.48945576640.639
9015737IC Group A/S
(CPSE:IC)CPSE:ICApparelDenmarkDeveloped EuropeEU &
Environs$85.00$23.20$19.30$42.50$127.50$29.90$97.6023.45
%0.4622.00%0.32955134810.4305142701Chyang Sheng Dyeing
& Finishing Co., Ltd.
Asia$67.70$0.15$0.00$0.15$67.85$15.90$51.9523.43%1.2420.0
0%1.23920673671.6184750668Yamaki Co.,Ltd.
0$38.80$68.00$15.70$52.3023.09%0.2130.86%0.10805519070.
1404924086Apex Spinning & Knitting Mills Limited
(DSE:APEXSPINN)DSE:APEXSPINNApparelBangladeshEmerg
ing MarketsSmall
Asia$13.20$0.00$0.75$0.75$13.95$3.19$10.7622.87%-
0.5825.00%-0.5587783125-0.7244538229Speed Apparel
Holding Limited (SEHK:8183)SEHK:8183ApparelHong
KongEmerging
MarketsChina$31.90$0.25$0.86$1.11$33.01$7.53$25.4822.81%
1.1116.50%1.08204306021.4018736805Hsin Sin Textile Co.,
Ltd. (GTSM:4406)GTSM:4406ApparelTaiwanEmerging
MarketsSmall
Asia$14.20$0.00$4.59$4.59$18.79$4.21$14.5822.41%-
0.4120.00%-0.3221393475-0.4151576365Cheetah Holdings
Berhad
(KLSE:CHEETAH)KLSE:CHEETAHApparelMalaysiaEmerging

MarketsSmall
Asia$8.78$0.35$0.26$0.61$9.39$2.09$7.3022.25%0.3424.00%0.
32374218580.4163875057China Lilang Limited
MarketsChina$1,009.20$0.09$0.00$0.09$1,009.29$224.30$784.
9922.22%0.9625.00%0.95986363811.234130181Huafang Co.,
Ltd. (SHSE:600448)SHSE:600448ApparelChinaEmerging
MarketsChina$367.10$0.00$160.70$160.70$527.80$117.20$410
.6022.21%-0.0925.00%-0.066144223-0.085024162Surat Textile
Mills Limited (BSE:530185)BSE:530185ApparelIndiaEmerging
MarketsIndia$11.30$0.00$0.13$0.13$11.43$2.53$8.9022.13%0.
3635.00%0.35594571430.4571189147Starrise Media Holdings
MarketsChina$201.90$0.34$110.90$111.24$313.14$68.20$244.
9421.78%1.5525.00%1.09863999171.4045465744TSI Holdings
Co.,Ltd.
.30$228.32$843.32$183.50$659.8221.76%0.8230.86%0.654663
25530.8367293319Goldiam International Limited
MarketsIndia$27.50$0.00$4.05$4.05$31.55$6.86$24.6921.74%0
.5735.00%0.52402277540.6696200309Pearl Global Industries
MarketsIndia$42.30$11.62$35.80$47.42$89.72$19.40$70.3221.
62%0.4535.00%0.25959546020.3312162302GNCO Co., Ltd.
(KOSDAQ:A065060)KOSDAQ:A065060ApparelSouth
KoreaEmerging MarketsSmall
Asia$144.80$0.00$69.90$69.90$214.70$46.30$168.4021.56%2.
0228.00%1.49866763671.9107122422Hagihara Industries Inc.
30$25.30$223.30$47.90$175.4021.45%0.9130.86%0.839084867
1.0682306203Lao Feng Xiang Co., Ltd.
MarketsChina$2,743.30$0.00$813.00$813.00$3,556.30$761.00$
2,795.3021.40%0.9325.00%0.75842564230.9649014817PDS
Multinational Fashions Limited

MarketsIndia$104.90$2.28$112.60$114.88$219.78$46.10$173.6
820.98%1.4935.00%0.8680850941.09850136Unitika Ltd.
.70$915.70$1,159.10$240.10$919.0020.71%1.1130.86%0.30721
084790.3874734427HLA CORP., Ltd.
MarketsChina$5,539.90$148.84$400.30$549.14$6,089.04$1,259
.10$4,829.9420.68%0.9625.00%0.89763886541.1316412895Hig
h Fashion International Limited
MarketsChina$75.70$3.27$184.10$187.37$263.07$54.20$208.8
720.60%0.1916.50%0.06059777130.0763225821Lüks Kadife
Ticaret ve Sanayi A.S.
(IBSE:LUKSK)IBSE:LUKSKApparelTurkeyDeveloped
EuropeEU &
Environs$9.16$0.00$11.40$11.40$20.56$4.22$16.3420.53%0.68
22.00%0.34540774680.4346134195The Japan Wool Textile Co.,
Ltd.
.30$189.30$734.00$150.20$583.8020.46%0.7830.86%0.627687
67610.7891790926Asia Fiber Public Company Limited
(SET:AFC)SET:AFCApparelThailandEmerging MarketsSmall
Asia$12.70$0.00$0.01$0.01$12.71$2.60$10.1120.46%1.9820.00
%1.97855271942.4874296677Tungtex (Holdings) Company
MarketsChina$40.90$0.99$19.00$19.99$60.89$12.40$48.4920.3
6%1.0216.50%0.72377056390.9088393092China Jicheng
Holdings Limited
MarketsChina$18.90$0.00$30.70$30.70$49.60$10.10$39.5020.3
6%2.7325.00%1.22929284021.5436183512Union Textile
Industries Public Company Limited
(SET:UT)SET:UTApparelThailandEmerging MarketsSmall
Asia$19.30$0.03$0.00$0.03$19.33$3.91$15.4220.23%0.3220.00
%0.32123620720.4026941236LF Corp.

MarketsSmall
Asia$651.80$0.00$165.40$165.40$817.20$165.20$652.0020.22
%0.8328.00%0.7043365030.8827972243SG Group Holdings
MarketsChina$24.50$0.41$0.03$0.43$24.93$4.99$19.9420.01%
0.9216.50%0.90675677571.133638678Kam Hing International
KongEmerging
MarketsChina$67.80$5.25$290.00$295.25$363.05$72.60$290.4
520.00%1.3916.50%0.30050756340.3756216025Arabia Cotton
Ginning Company
(CASE:ACGC)CASE:ACGCApparelEgyptEmerging
East$26.10$0.00$45.20$45.20$71.30$14.20$57.1019.92%1.382
3.00%0.59044294640.737278145Wisher Industrial Co., Ltd.
Asia$48.30$0.00$0.00$0.00$48.30$9.61$38.6919.90%1.0420.00
%1.04383720931.3031102923Banaras Beads Limited
MarketsIndia$4.66$0.00$0.30$0.30$4.96$0.98$3.9719.83%0.25
35.00%0.24325876620.303445871Asian Star Company Limited
MarketsIndia$163.30$0.00$116.80$116.80$280.10$55.00$225.1
019.64%0.4735.00%0.31763176060.395240587Tse Sui Luen
Jewellery (International) Limited
MarketsChina$58.60$34.09$100.20$134.29$192.89$37.50$155.
3919.44%1.0416.50%0.35836569140.4448507545Carry Wealth
KongEmerging
MarketsChina$51.20$0.42$1.52$1.94$53.14$10.30$42.8419.38
%3.8716.50%3.75031239734.6520109075King Chou Marine
Technology Co., Ltd
MarketsSmall

Asia$102.00$0.00$38.00$38.00$140.00$27.10$112.9019.36%0.
0620.00%0.04256867840.0527866694Shenzhen Huijie Group
Co., Ltd. (SZSE:002763)SZSE:002763ApparelChinaEmerging
MarketsChina$452.80$0.00$0.00$0.00$452.80$87.40$365.4019.
30%1.5025.00%1.49809302331.8564217869Damartex
(ENXTPA:ALDAR)ENXTPA:ALDARApparelFranceDeveloped
EuropeEU &
Environs$153.60$56.60$94.10$150.70$304.30$58.50$245.8019.
22%0.7733.00%0.46751601880.5787838676Asim Textile Mills
Limited (KASE:ASTM)KASE:ASTMApparelPakistanEmerging
MarketsSmall
Asia$0.85$0.00$3.37$3.37$4.22$0.81$3.4119.19%-0.2630.00%-
0.0672641393-0.0832408535Hong Yi Fiber Ind. Co., Ltd.
Asia$73.10$0.00$0.00$0.00$73.10$14.00$59.1019.15%1.1920.0
0%1.18970566631.471508412Regal Holding Co., Ltd.
Asia$66.10$0.00$0.00$0.00$66.10$12.60$53.5019.06%1.1520.0
0%1.14606976741.4159852641Huiyin Holdings Group Limited
MarketsChina$20.50$0.35$0.00$0.35$20.85$3.97$16.8819.04%
0.9225.00%0.91234256891.1269432679Cabbeen Fashion
MarketsChina$166.50$2.39$44.20$46.59$213.09$40.30$172.79
18.91%1.0725.00%0.88316687541.0891491312Season Pacific
KongEmerging
MarketsChina$67.40$1.07$1.09$2.16$69.56$13.00$56.5618.69
%3.2416.50%3.16032781143.8867158771Youngone Corporation
MarketsSmall
Asia$1,524.30$0.00$460.20$460.20$1,984.50$369.50$1,615.00
18.62%-0.3028.00%-0.2500233781-0.3072268692Swarnsarita
Gems Limited (BSE:526365)BSE:526365ApparelIndiaEmerging
MarketsIndia$3.24$0.00$13.70$13.70$16.94$3.15$13.7918.60%
1.4835.00%0.39531306790.4856130072New Body Line Société

Anonyme (BVMT:NBL)BVMT:NBLApparelTunisiaEmerging
East$6.96$0.00$0.00$0.00$6.96$1.29$5.6718.53%0.0725.00%0.
07209302330.0884951397Wonpoong Corporation
Asia$36.10$0.00$0.10$0.10$36.20$6.66$29.5418.40%0.7828.00
%0.77811471750.9535342564Pranda Jewelry Public Company
Limited (SET:PDJ)SET:PDJApparelThailandEmerging
MarketsSmall
Asia$27.70$1.75$23.70$25.45$53.15$9.70$43.4518.25%0.6720.
00%0.38795726430.4745744925Giorgio Fedon & Figli Spa
(BIT:FED)BIT:FEDApparelItalyDeveloped EuropeEU &
Environs$15.00$0.00$23.40$23.40$38.40$6.99$31.4118.20%0.9
824.00%0.44633052710.5456571869Onward Holdings Co., Ltd.
.20$476.20$1,321.80$234.20$1,087.6017.72%0.7230.86%0.515
46923270.6264685838Miko International Holdings Limited
MarketsChina$11.10$0.00$13.90$13.90$25.00$4.42$20.5817.68
%2.3525.00%1.21177473461.472029561Best Food Holding
Company Limited (SEHK:1488)SEHK:1488ApparelHong
KongEmerging
MarketsChina$220.10$19.87$32.30$52.17$272.27$48.10$224.1
717.67%0.5116.50%0.42880968010.5208202845Annil Co.,Ltd
MarketsChina$275.10$6.69$0.00$6.69$281.79$49.40$232.3917.
53%1.2325.00%1.20971564471.4668733875Lapine Co., Ltd.
0$20.30$38.80$6.76$32.0417.42%1.5530.86%0.88141678531.0
673836227Hwa Well Textiles (BD) Limited
(DSE:HWAWELLTEX)DSE:HWAWELLTEXApparelBanglades
hEmerging MarketsSmall
Asia$25.20$0.00$0.00$0.00$25.20$4.39$20.8117.42%0.2025.00
%0.1956279070.2368968407Wacoal Holdings Corp.
(TSE:3591)TSE:3591ApparelJapanJapanJapan$1,703.30$14.44$

64.00$78.44$1,781.74$309.50$1,472.2417.37%0.7230.86%0.69
377647990.83962455Movado Group, Inc.
(NYSE:MOV)NYSE:MOVApparelUnited StatesUnited
StatesUnited
States$730.30$54.84$49.60$104.44$834.74$142.70$692.0417.1
0%0.5225.00%0.46814339330.5646753683Sinotop Holdings
Berhad
(KLSE:SINOTOP)KLSE:SINOTOPApparelChinaEmerging
MarketsChina$27.70$0.00$0.00$0.00$27.70$4.71$22.9917.00%
0.8825.00%0.8797441861.0599788584Universal Textile Co.,
Ltd. (TSEC:1445)TSEC:1445ApparelTaiwanEmerging
MarketsSmall
Asia$36.10$0.00$0.00$0.00$36.10$6.04$30.0616.73%0.6820.00
%0.68097674420.8178064027Tainan Enterprises Co., Ltd.
Asia$82.90$4.76$46.80$51.56$134.46$22.40$112.0616.66%0.6
820.00%0.45215780680.5425401012Globe International
Limited (ASX:GLB)ASX:GLBApparelAustraliaAustralia, NZ
and CanadaAustralia &
NZ$67.20$7.60$0.00$7.60$74.80$12.40$62.4016.58%0.9530.00
%0.88122832591.056338016Li Ning Company Limited
MarketsChina$2,349.40$109.53$0.00$109.53$2,458.93$406.80$
2,052.1316.54%2.1025.00%2.03385941862.4370367382Jiangsu
Hagong Intelligent Robot Co., Ltd.
MarketsChina$560.10$0.00$60.40$60.40$620.50$102.60$517.9
016.54%-0.0125.00%-0.0112096596-0.0134303799Hurtimex SA
(WSE:HRT)WSE:HRTApparelPolandDeveloped EuropeEU &
Environs$1.39$0.00$0.72$0.72$2.11$0.35$1.7616.52%0.0419.0
0%0.02931176060.0351109694Monnari Trade S.A.
(WSE:MON)WSE:MONApparelPolandDeveloped EuropeEU &
Environs$32.20$0.00$0.00$0.00$32.20$5.30$26.9016.46%0.561
9.00%0.55803225810.6679791342Far East Knitting & Dyeing
Industries Limited
(DSE:FEKDIL)DSE:FEKDILApparelBangladeshEmerging

MarketsSmall
Asia$34.10$0.00$3.28$3.28$37.38$6.12$31.2616.37%1.1925.00
%1.10901786171.3261384411Guangdong Bobaolon Co.,Ltd.
MarketsChina$852.80$7.44$72.80$80.24$933.04$152.20$780.8
416.31%1.8325.00%1.71387338932.0479395927Zhejiang Ming
Jewelry Co., Ltd.
MarketsChina$378.50$0.00$10.20$10.20$388.70$63.00$325.70
16.21%0.7625.00%0.74339360830.8871878894S.C. Conted S.A.
(BVB:CNTE)BVB:CNTEApparelRomaniaEmerging
MarketsEastern Europe &
Russia$1.31$0.00$0.00$0.00$1.31$0.21$1.1016.18%-
0.2616.00%-0.2647209302-0.3158328038Fope S.p.A.
(BIT:FPE)BIT:FPEApparelItalyDeveloped EuropeEU &
Environs$32.80$0.00$10.30$10.30$43.10$6.94$36.1616.10%1.4
924.00%1.20204181451.4327434238Crystal International Group
MarketsChina$1,446.20$27.49$500.40$527.89$1,974.09$316.80
$1,657.2916.05%2.2816.50%1.74771052752.0817950831Descen
te Ltd.
(TSE:8114)TSE:8114ApparelJapanJapanJapan$1,233.90$0.00$4
3.70$43.70$1,277.60$203.70$1,073.9015.94%1.0030.86%0.971
47700791.1557491622Takihyo Co., Ltd.
.70$85.32$228.12$36.10$192.0215.83%0.7130.86%0.50102706
780.5952228126Daitobo Co., Ltd.
0$80.10$100.70$15.90$84.8015.79%0.8430.86%0.22887223680
.2717857812elumeo SE
(DB:ELB)DB:ELBApparelGermanyDeveloped EuropeEU &
Environs$8.63$1.49$15.60$17.09$25.72$3.97$21.7515.44%1.22
15.00%0.45444703430.537396212KOMATSU MATERE Co.,
Ltd.
0$0.00$300.90$46.30$254.6015.39%1.0430.86%1.04208163271

.2315882296Fossil Group, Inc.
(NasdaqGS:FOSL)NasdaqGS:FOSLApparelUnited StatesUnited
StatesUnited
States$777.90$364.08$397.10$761.18$1,539.08$236.10$1,302.9
815.34%0.9325.00%0.53897654990.6366388602Tong-Hwa
Synthetic Fiber Company Limited
Asia$13.80$0.46$45.40$45.86$59.66$9.11$50.5515.27%0.0720.
00%0.01934402430.0228303826Moiselle International Holdings
MarketsChina$23.90$14.87$0.87$15.73$39.63$6.03$33.6015.21
%0.4216.50%0.27423316090.3234428308National Electronics
KongEmerging
MarketsChina$144.50$4.40$449.80$454.20$598.70$90.50$508.
2015.12%0.6916.50%0.19001795590.2238561318PT Pan
Brothers Tbk
(IDX:PBRX)IDX:PBRXApparelIndonesiaEmerging
MarketsSmall
Asia$245.90$0.00$276.60$276.60$522.50$78.90$443.6015.10%
0.2925.00%0.1565284330.1843690403Compagnie Financière
Richemont SA
(SWX:CFR)SWX:CFRApparelSwitzerlandDeveloped EuropeEU
&
Environs$36,154.00$3,642.85$10,554.20$14,197.05$50,351.05$
7,592.70$42,758.3515.08%1.7218.00%1.30069324161.5316603
915Shikibo Ltd.
90$226.90$324.60$48.90$275.7015.06%0.6830.86%0.26254660
650.3091136324Jasch Industries Limited
MarketsIndia$8.47$0.00$3.27$3.27$11.74$1.75$9.9914.91%0.4
735.00%0.37746362270.4435858789Anhui Anli Material
MarketsChina$192.20$0.00$73.30$73.30$265.50$39.40$226.10

14.84%1.6525.00%1.28084809511.5040476305Fujibo Holdings,
Inc.
8$2.88$259.18$38.30$220.8814.78%0.8830.86%0.87454228841
.0261855772Shinyoungwacoal,Inc.
MarketsSmall
Asia$105.80$0.00$0.93$0.93$106.73$15.70$91.0314.71%0.282
8.00%0.27840269620.3264195077Technos S.A.
(BOVESPA:TECN3)BOVESPA:TECN3ApparelBrazilEmerging
MarketsLatin America &
Caribbean$49.10$0.00$28.40$28.40$77.50$11.40$66.1014.71%
1.4434.00%1.04456232011.2247137641Dynic Corporation
00$168.00$223.70$31.90$191.8014.26%0.9830.86%0.31694326
360.3696569764Taiwan Paiho Limited
Asia$480.20$4.08$314.50$318.58$798.78$113.80$684.9814.25
%1.6420.00%1.07004757111.2478203437Seiko Holdings
Corporation
33.90$1,072.69$1,861.69$265.00$1,596.6914.23%1.1230.86%0.
57478466050.6701806083Sichuan Zhenjing Corporation
Limited (SHSE:603477)SHSE:603477ApparelChinaEmerging
MarketsChina$261.40$0.00$36.70$36.70$298.10$42.30$255.80
14.19%2.1125.00%1.91090142892.2268949021Daidoh Limited
60$132.60$222.20$31.30$190.9014.09%0.5930.86%0.29342638
020.3415366248Sawang Export Public Company Limited
(SET:SAWANG)SET:SAWANGApparelThailandEmerging
MarketsSmall
Asia$8.18$0.00$0.00$0.00$8.18$1.15$7.0314.06%0.7020.00%0.
70376744190.8188929836Wangneng Environment Co., Ltd.
MarketsChina$662.70$0.00$175.80$175.80$838.50$117.00$721
.5013.95%1.8925.00%1.57791948931.8337983254Dagi Giyim

Sanayi ve Ticaret A.S.
(IBSE:DAGI)IBSE:DAGIApparelTurkeyDeveloped EuropeEU &
Environs$10.10$0.00$11.00$11.00$21.10$2.94$18.1613.93%1.0
122.00%0.54588277960.6342580754Zhejiang Hangmin Co., Ltd
MarketsChina$886.60$0.00$17.60$17.60$904.20$125.70$778.5
013.90%1.4025.00%1.38370131351.6071197529Oscar Global
MarketsIndia$0.27$0.00$0.00$0.00$0.27$0.04$0.2313.86%-
1.0535.00%-1.0483023256-1.2169422649Tah Hsin Industrial
MarketsSmall
Asia$165.30$0.00$27.30$27.30$192.60$26.60$166.0013.81%0.
4320.00%0.38199467630.4432058714Leather Up Limited
(KASE:LEUL)KASE:LEULApparelPakistanEmerging
MarketsSmall
Asia$0.66$0.00$0.12$0.12$0.78$0.11$0.6713.81%-0.0430.00%-
0.0347059227-0.0402671091Jiangsu Lianfa Textile Co.,Ltd
MarketsChina$474.50$0.00$89.70$89.70$564.20$77.70$486.50
13.77%0.7925.00%0.68998702590.8001863926Arrow Textiles
MarketsIndia$6.48$0.00$0.17$0.17$6.65$0.91$5.7313.72%0.92
35.00%0.90133783821.0447217747Mavi Giyim Sanayi ve
Ticaret A.S.
(IBSE:MAVI)IBSE:MAVIApparelTurkeyDeveloped EuropeEU
&
Environs$302.20$0.00$67.20$67.20$369.40$50.60$318.8013.70
%1.3222.00%1.12216851381.3002793255China Fordoo
Holdings Limited
MarketsChina$485.60$0.33$71.90$72.23$557.83$76.30$481.53
13.68%1.3525.00%1.21747985561.4103928697Huafu Fashion
MarketsChina$1,199.70$0.00$1,111.90$1,111.90$2,311.60$314.
40$1,997.2013.60%1.8125.00%1.06688475011.234834162Poh

Kong Holdings Berhad
(KLSE:POHKONG)KLSE:POHKONGApparelMalaysiaEmergin
g MarketsSmall
Asia$44.50$8.69$60.20$68.89$113.39$15.40$97.9913.58%0.96
24.00%0.44136858410.510732233Elegance Optical
MarketsChina$19.90$3.77$2.95$6.72$26.62$3.61$23.0113.56%
2.6516.50%2.07062130872.3954110354PT Trisula International
Tbk (IDX:TRIS)IDX:TRISApparelIndonesiaEmerging
MarketsSmall
Asia$15.90$0.00$11.90$11.90$27.80$3.75$24.0513.49%0.4325.
00%0.27369493430.3163708596Yünsa Yünlü Sanayi ve Ticaret
A.S. (IBSE:YUNSA)IBSE:YUNSAApparelTurkeyDeveloped
EuropeEU &
Environs$24.00$0.00$21.70$21.70$45.70$6.16$39.5413.48%0.9
322.00%0.54740814660.6326897395Chokwang Leather Co.,Ltd.
MarketsSmall
Asia$111.30$0.00$0.30$0.30$111.60$14.90$96.7013.35%0.852
8.00%0.84775427620.9783870775Best Pacific International
Holdings Limited
MarketsChina$261.50$2.95$201.20$204.15$465.65$61.90$403.
7513.29%1.1725.00%0.74064564340.8541964693Perfect Group
MarketsChina$112.00$0.58$27.70$28.28$140.28$18.60$121.68
13.26%1.8516.50%1.5315799661.7656904074Vera Bradley,
Inc. (NasdaqGS:VRA)NasdaqGS:VRAApparelUnited
States$297.10$172.89$0.00$172.89$469.99$62.30$407.6913.26
%0.6625.00%0.46208650870.5326998219Lealea Enterprise Co.,
MarketsSmall
Asia$305.40$0.00$187.30$187.30$492.70$65.20$427.5013.23%

1.6520.00%1.10678583031.2755868505Avgol Industries 1953
Ltd (TASE:AVGL)TASE:AVGLApparelIsraelEmerging
East$301.30$0.00$293.40$293.40$594.70$78.60$516.1013.22%
0.5423.00%0.30881743720.3558491182Zhejiang Xinao Textiles
Inc. (SHSE:603889)SHSE:603889ApparelChinaEmerging
MarketsChina$496.90$0.00$7.75$7.75$504.65$66.60$438.0513.
20%0.9625.00%0.94653256321.0904409497Lakeland
Industries, Inc.
(NasdaqGM:LAKE)NasdaqGM:LAKEApparelUnited
States$84.80$2.32$1.54$3.86$88.66$11.70$76.9613.20%0.3825
.00%0.36368170820.4189705971Sotoh Co., Ltd.
1$0.61$108.61$14.30$94.3113.17%0.2530.86%0.24936612050.
2871777115Devernois
(ENXTPA:ALDEV)ENXTPA:ALDEVApparelFranceDeveloped
EuropeEU &
Environs$22.90$0.00$4.23$4.23$27.13$3.55$23.5813.09%0.273
3.00%0.23716467080.2728701238Daehyun Co.,Ltd.
MarketsSmall
Asia$89.50$0.00$0.00$0.00$89.50$11.70$77.8013.07%0.5528.0
0%0.55186046510.6348523345Samantha Thavasa Japan Limited
0$77.40$177.20$23.10$154.1013.04%1.1430.86%0.7434780222
0.8549273558Tex-Ray Industrial Co., Ltd.
Asia$62.40$0.29$116.00$116.29$178.69$23.20$155.4912.98%1
.3920.00%0.558412280.6417284231Sapphire Textile Mills
Limited (KASE:SAPT)KASE:SAPTApparelPakistanEmerging
MarketsSmall
Asia$180.50$0.80$510.20$511.00$691.50$89.30$602.2012.91%
-0.2030.00%-0.0659214754-0.0756970131Winox Holdings
MarketsChina$150.00$0.71$8.10$8.81$158.81$20.50$138.3112.

91%0.4616.50%0.43462281080.4990430782Union Pioneer
Public Company Limited
(SET:UPF)SET:UPFApparelThailandEmerging MarketsSmall
Asia$14.90$0.12$0.00$0.12$15.02$1.93$13.0912.85%0.3320.00
%0.32323020660.3708994752Jiangsu Xiake Environment-
Friendly Dyed-Spun Stock Co., Ltd.
MarketsChina$277.30$0.00$0.00$0.00$277.30$35.40$241.9012.
77%0.5225.00%0.51511627910.5904991492PT Ricky Putra
Globalindo Tbk
(IDX:RICY)IDX:RICYApparelIndonesiaEmerging
MarketsSmall
Asia$7.26$0.00$42.50$42.50$49.76$6.35$43.4112.76%-
0.3725.00%-0.0680655334-0.0780221365Century Synthetic
Fiber Corporation
(HOSE:STK)HOSE:STKApparelVietnamEmerging
MarketsSmall
Asia$41.00$0.33$39.90$40.23$81.23$10.30$70.9312.68%0.752
0.00%0.41935986040.4802530158Hunan Mendale Hometextile
Co.,Ltd (SZSE:002397)SZSE:002397ApparelChinaEmerging
MarketsChina$466.00$0.00$75.90$75.90$541.90$68.20$473.70
12.59%0.7525.00%0.66622128880.7621391522COVER 50
S.p.A. (BIT:COV)BIT:COVApparelItalyDeveloped EuropeEU &
Environs$49.20$0.00$0.01$0.01$49.21$6.18$43.0312.56%1.022
4.00%1.02114800291.1678128411Shenzhen Ellassay Fashion
Co.,Ltd. (SHSE:603808)SHSE:603808ApparelChinaEmerging
MarketsChina$795.80$0.00$9.36$9.36$805.16$100.80$704.361
2.52%1.2125.00%1.19706819511.3683789936Li & Fung
MarketsChina$1,336.10$435.67$780.10$1,215.77$2,551.87$319
.20$2,232.6712.51%2.3616.50%1.34339902791.5354615217Qua
ng Viet Enterprise Co., Ltd.
Asia$354.80$0.00$106.70$106.70$461.50$57.70$403.8012.50%
1.2420.00%0.99832771171.1409812753Orchestra-Prémaman
S.A. (ENXTPA:KAZI)ENXTPA:KAZIApparelFranceDeveloped

EuropeEU &
Environs$25.00$0.00$295.10$295.10$320.10$40.00$280.1012.5
0%1.0733.00%0.12000076190.1371376075Fitaihi Holding
Group (SASE:4180)SASE:4180ApparelSaudi ArabiaEmerging
East$158.90$0.00$0.00$0.00$158.90$19.80$139.1012.46%0.82
20.00%0.82316279070.9403347767LWS Knitwear Limited
MarketsIndia$0.30$0.00$0.06$0.06$0.36$0.05$0.3212.43%2.04
35.00%1.79772066342.052917603H P Cotton Textile Mills
MarketsIndia$2.13$0.40$3.05$3.45$5.58$0.69$4.8912.39%0.45
35.00%0.22035954710.2515187323Fieratex S.A.
(ATSE:FIER)ATSE:FIERApparelGreeceDeveloped EuropeEU &
Environs$2.15$0.00$6.37$6.37$8.52$1.05$7.4712.32%1.1029.0
0%0.35527114090.4052088515PRG Holdings Berhad
(KLSE:PRG)KLSE:PRGApparelMalaysiaEmerging
MarketsSmall
Asia$57.50$1.09$7.48$8.57$66.07$8.13$57.9412.30%0.4424.00
%0.39278778530.4478987323Cayman Tung Ling Co., Limited
MarketsSmall
Asia$37.70$2.33$8.42$10.75$48.45$5.92$42.5312.22%0.4820.0
0%0.38918682320.4433584911Hunan Huasheng Co.,Ltd
MarketsChina$239.10$0.00$3.35$3.35$242.45$29.40$213.0512.
13%1.2525.00%1.23854333351.4094570815Huvis Corporation
MarketsSmall
Asia$232.40$0.00$222.70$222.70$455.10$55.10$400.0012.11%
1.3828.00%0.81538200630.9277008777Chang-Ho Fibre
MarketsSmall
Asia$53.70$0.08$35.30$35.38$89.08$10.70$78.3812.01%0.852
0.00%0.55497621260.6307414987Nafpaktos Textile Industry
S.A. (ATSE:NAYP)ATSE:NAYPApparelGreeceDeveloped

EuropeEU &
Environs$6.92$0.00$0.65$0.65$7.57$0.90$6.6711.92%-
0.0829.00%-0.0766763259-0.0870516703ELZAY Ready Wear
Manufacturing Co.
(ASE:ELZA)ASE:ELZAApparelJordanEmerging MarketsAfrica
and Middle
East$2.53$0.00$22.30$22.30$24.83$2.93$21.9011.80%-
0.3320.00%-0.0412524803-0.0467716477GH Advanced
Materials Inc.
Asia$24.00$0.00$25.60$25.60$49.60$5.83$43.7711.75%2.0228.
00%1.14138956121.2934183741Toung Loong Textile MFG.
Co., LTD. (GTSM:4401)GTSM:4401ApparelTaiwanEmerging
MarketsSmall
Asia$151.00$0.00$79.60$79.60$230.60$27.10$203.5011.75%1.
8820.00%1.3198048151.495562606Kimuratan Corporation
$5.97$26.07$3.06$23.0111.74%0.7530.86%0.6183370330.7005
669904Fujian Fynex Textile Science & Technology Co., Ltd.
MarketsChina$247.60$0.00$31.60$31.60$279.20$32.60$246.60
11.68%0.9425.00%0.85930628580.9729047648Ambeon
Holdings PLC (COSE:GREG-N-0000)COSE:GREG-N-
0000ApparelSri LankaEmerging MarketsSmall
Asia$21.70$0.13$32.70$32.83$54.53$6.36$48.1711.66%0.2928.
00%0.1380665320.1562954512Atlas Pearls Ltd
(ASX:ATP)ASX:ATPApparelAustraliaAustralia, NZ and
CanadaAustralia &
NZ$4.44$0.68$3.00$3.68$8.12$0.95$7.1711.66%0.8830.00%0.5
5506241640.6283008055Pranavaditya Spinning Mills Limited
MarketsIndia$4.12$0.00$0.00$0.00$4.12$0.48$3.6511.53%0.15
35.00%0.1532558140.1732274221Nagahori Corporation
0$77.90$107.60$12.40$95.2011.52%0.6330.86%0.22249741010

.2514781652PFNonwovens a.s.
(SEP:PEGAS)SEP:PEGASApparelCzech RepublicDeveloped
EuropeEU &
Environs$314.00$0.00$286.40$286.40$600.40$68.50$531.9011.
41%0.1119.00%0.06533973820.0737544253Sou Yu Te Group
MarketsChina$1,056.80$16.92$315.00$331.92$1,388.72$157.70
$1,231.0211.36%1.4525.00%1.17159779021.3216852327Jiangs
u Hongdou Industrial Co., Ltd
MarketsChina$1,381.40$0.00$83.00$83.00$1,464.40$165.20$1,
299.2011.28%0.6425.00%0.61284834390.6907751807Elve S.A.
(ATSE:ELBE)ATSE:ELBEApparelGreeceDeveloped EuropeEU
&
Environs$12.90$0.00$1.56$1.56$14.46$1.63$12.8311.27%0.532
9.00%0.48873088710.5508221845GeneOne Life Science, Inc.
MarketsSmall
Asia$81.80$0.00$11.00$11.00$92.80$10.40$82.4011.21%0.492
8.00%0.44401025410.5000503833Fox-Wizel Ltd.
(TASE:FOX)TASE:FOXApparelIsraelEmerging MarketsAfrica
and Middle
East$306.70$0.00$168.30$168.30$475.00$53.20$421.8011.20%
0.6123.00%0.43208205450.4865788902Dong-Il Corporation
MarketsSmall
Asia$96.80$0.00$256.10$256.10$352.90$39.40$313.5011.16%0
.5928.00%0.20200197560.2273891458Service Industries
Textiles Limited
(KASE:SERT)KASE:SERTApparelPakistanEmerging
MarketsSmall
Asia$0.33$0.00$0.47$0.47$0.80$0.09$0.7111.07%1.1630.00%0.
58017814550.6523926813V-Grass Fashion Co.,Ltd.
MarketsChina$370.20$0.00$450.40$450.40$820.60$90.70$729.
9011.05%1.7025.00%0.88838758380.9987818211Kumpulan

Powernet Berhad
(KLSE:KPOWER)KLSE:KPOWERApparelMalaysiaEmerging
MarketsSmall
Asia$6.42$0.00$0.94$0.94$7.36$0.81$6.5510.97%0.9224.00%0.
83249509030.9350635694Zhejiang Golden Eagle Co., Ltd
MarketsChina$265.20$0.00$20.90$20.90$286.10$31.30$254.80
10.94%0.5025.00%0.47132759960.5292261626Max Zipper Co.,
Ltd. (GTSM:8932)GTSM:8932ApparelTaiwanEmerging
MarketsSmall
Asia$28.20$0.00$28.60$28.60$56.80$6.19$50.6110.90%0.9620.
00%0.53126322590.5962408859Henan Xinye Textile Co., Ltd.
MarketsChina$419.30$0.00$673.30$673.30$1,092.60$118.70$9
73.9010.86%1.0425.00%0.47057516990.5279293876The
Lexington Company AB (publ)
(OM:LEX)OM:LEXApparelSwedenDeveloped EuropeEU &
Environs$8.53$0.00$1.36$1.36$9.89$1.07$8.8210.82%0.5622.0
0%0.50137435140.5621986774Crescent Fibres Limited
(KASE:CFL)KASE:CFLApparelPakistanEmerging
MarketsSmall
Asia$3.12$0.01$5.43$5.44$8.56$0.93$7.6310.82%1.1730.00%0.
52530212260.5890290923Peekaboo Beans Inc.
(CNSX:BEAN)CNSX:BEANApparelCanadaAustralia, NZ and
CanadaCanada$2.75$0.03$0.54$0.58$3.33$0.36$2.9710.79%1.0
026.50%0.86639805290.9712422661Shandong Jintai Group Co.,
Ltd. (SHSE:600385)SHSE:600385ApparelChinaEmerging
MarketsChina$207.20$0.00$0.00$0.00$207.20$22.30$184.9010.
76%0.8425.00%0.84065116280.9420385123Jiangsu Lugang
Culture Co., Ltd.
MarketsChina$405.00$0.00$334.20$334.20$739.20$78.90$660.
3010.67%2.1225.00%1.30801742991.4643139242Shanghai
Shuixing Home Textile Co., Ltd.
MarketsChina$578.90$0.00$0.00$0.00$578.90$61.70$517.2010.

66%2.3625.00%2.3567441862.6378948362Eagle Nice
(International) Holdings Limited
MarketsChina$178.70$0.00$60.10$60.10$238.80$25.40$213.40
10.64%1.6816.50%1.31040135631.4663722769Fuxing China
Group Limited (SGX:AWK)SGX:AWKApparelChinaEmerging
MarketsChina$8.88$0.00$45.20$45.20$54.08$5.73$48.3510.60
%-0.4525.00%-0.0927467954-0.1037382977Luolai Lifestyle
MarketsChina$948.90$0.00$27.50$27.50$976.40$103.40$873.0
010.59%2.1925.00%2.14234169332.396085257Kingdom
Holdings Limited (SEHK:528)SEHK:528ApparelChinaEmerging
MarketsChina$99.00$0.82$90.20$91.02$190.02$20.10$169.921
0.58%0.9925.00%0.58517947940.6544021085JS Corporation
MarketsSmall
Asia$127.70$0.00$6.99$6.99$134.69$14.10$120.5910.47%-
0.2428.00%-0.2287296927-0.2554739391Michell y Cía. S.A.
(BVL:MICHEI1)BVL:MICHEI1ApparelPeruEmerging
Caribbean$45.50$0.00$35.60$35.60$81.10$8.39$72.7110.35%0.
0829.50%0.04977593410.0555195744BAIKSAN Co,. Ltd
MarketsSmall
Asia$134.40$0.00$116.50$116.50$250.90$25.90$225.0010.32%
1.4228.00%0.87678944470.9777176519Charles & Colvard, Ltd.
(NasdaqCM:CTHR)NasdaqCM:CTHRApparelUnited
States$18.40$1.92$0.00$1.92$20.32$2.09$18.2310.29%0.4425.
00%0.40848541370.4553250169Tainan Enterprise (Cayman)
Co., Limited (TSEC:5906)TSEC:5906ApparelTaiwanEmerging
MarketsSmall
Asia$10.00$6.64$12.50$19.14$29.14$2.99$26.1510.26%0.7020.
00%0.27730939620.3090180628Seiren Co.,Ltd.

10$92.10$1,062.30$108.30$954.0010.19%1.1630.86%1.084110
95411.2071814115PT. Indo-Rama Synthetics Tbk
(IDX:INDR)IDX:INDRApparelIndonesiaEmerging
MarketsSmall
Asia$267.50$0.00$199.30$199.30$466.80$47.50$419.3010.18%
0.6525.00%0.41429105250.4612236187Paiho Shih Holdings
Corporation (TSEC:8404)TSEC:8404ApparelChinaEmerging
MarketsChina$386.40$0.36$195.50$195.86$582.26$59.10$523.
1610.15%1.6325.00%1.18419657061.3179708973Zhejiang
Semir Garment Co., Ltd.
MarketsChina$3,501.90$0.00$26.50$26.50$3,528.40$357.70$3,
170.7010.14%0.9525.00%0.94017566991.0462408407Carpenter
Tan Holdings Limited
MarketsChina$147.30$1.70$0.00$1.70$149.00$15.10$133.9010.
13%2.0825.00%2.06288906652.295518854Golden Textiles &
Clothes Wool
(CASE:GTWL)CASE:GTWLApparelEgyptEmerging
East$4.96$0.00$7.78$7.78$12.74$1.29$11.4510.13%0.2523.00
%0.11139243090.1239423205Mandhana Industries Limited
MarketsIndia$2.43$0.40$101.10$101.50$103.93$10.50$93.4310
.10%-0.2435.00%-0.0083609514-0.0093005421Festaria
Holdings Co., Ltd.
0.00$40.30$40.30$56.90$5.74$51.1610.09%1.0230.86%0.37942
072060.4219905982Time2U International Holding Limited
MarketsChina$18.50$0.00$1.53$1.53$20.03$2.02$18.0110.08%
3.1416.50%2.93999662413.2697463842Pangrim Co., Ltd.
MarketsSmall
Asia$86.40$0.00$36.60$36.60$123.00$12.40$110.6010.08%0.3
228.00%0.24531765130.2728216194Spenta International

MarketsIndia$3.98$0.00$2.52$2.52$6.50$0.66$5.8510.08%0.11
35.00%0.07460008110.0829598849Roo Hsing Co., Ltd
Asia$386.00$20.31$260.60$280.91$666.91$67.20$599.7110.08
%0.6320.00%0.40070943680.4456107064Hansae Yes24
Holdings Co., Ltd
MarketsSmall
Asia$284.10$0.00$642.20$642.20$926.30$93.10$833.2010.05%
0.7228.00%0.27427728170.3049244431ShinWon Corporation
MarketsSmall
Asia$116.50$0.00$114.90$114.90$231.40$23.10$208.309.98%1
.2828.00%0.74810839610.8310719292Jiangsu Huaxicun Co.,
Ltd. (SZSE:000936)SZSE:000936ApparelChinaEmerging
MarketsChina$788.50$0.00$560.20$560.20$1,348.70$134.30$1,
214.409.96%2.2525.00%1.47081517051.6334720195Toabo
Corporation
30$114.30$151.90$14.90$137.009.81%0.6330.86%0.201829310
40.2237800894Eternity Investment Limited
MarketsChina$85.40$67.05$58.00$125.05$210.45$20.60$189.8
59.79%0.7016.50%0.31563225730.3498799459STUDIO ATAO
Co., Ltd.
1$3.74$134.14$13.00$121.149.69%1.0630.86%1.0406554811.1
523349359Texhong Textile Group Limited
MarketsChina$1,045.70$11.55$925.10$936.65$1,982.35$190.90
$1,791.459.63%3.6216.50%2.07089411622.2915718172IL
Jeong Industrial Co.,Ltd
MarketsSmall
Asia$20.70$0.00$13.00$13.00$33.70$3.24$30.469.61%0.6428.0

0%0.43908508560.4857901309Zhong Fa Zhan Holdings Limited
MarketsChina$57.70$0.83$8.84$9.67$67.37$6.46$60.919.59%0.
8716.50%0.76013983620.8407645563HangZhou Nbond
Nonwovens Co., Ltd.
MarketsChina$329.40$7.15$27.00$34.15$363.55$34.80$328.75
9.57%1.1625.00%1.07206429161.1855487811Li Cheng
Enterprise Co., Ltd.
Asia$192.40$0.00$48.20$48.20$240.60$22.90$217.709.52%1.4
520.00%1.20865096951.3357897256Gravity (India) Limited
MarketsIndia$0.29$0.00$0.21$0.21$0.50$0.05$0.459.42%-
0.7935.00%-0.5278883326-0.582779376DECO&E Co.,Ltd.
Asia$21.30$0.00$28.30$28.30$49.60$4.67$44.939.42%2.8128.0
0%1.43392767461.5829693448Iconix Brand Group, Inc.
(NasdaqGS:ICON)NasdaqGS:ICONApparelUnited StatesUnited
StatesUnited
States$6.28$10.23$691.60$701.83$708.11$66.50$641.619.39%1
.5925.00%0.01871598260.0206558026Tainan Spinning Co.,
MarketsSmall
Asia$647.20$14.28$351.60$365.88$1,013.08$94.90$918.189.37
%1.2120.00%0.83324720880.9193688662Marimekko Oyj
(HLSE:MMO1V)HLSE:MMO1VApparelFinlandDeveloped
EuropeEU &
Environs$192.10$27.51$0.51$28.02$220.12$20.60$199.529.36
%1.3220.00%1.18376103681.3059805068YGM Trading Limited
MarketsChina$148.30$20.48$0.62$21.10$169.40$15.80$153.60
9.33%1.7016.50%1.52390261841.680662984Hoftex Group AG
(MUN:NBH)MUN:NBHApparelGermanyDeveloped EuropeEU
&

Environs$78.50$0.00$83.90$83.90$162.40$15.10$147.309.30%
0.5515.00%0.28643935050.3158027869Zhejiang Furun
CO.,LTD (SHSE:600070)SHSE:600070ApparelChinaEmerging
MarketsChina$494.80$0.00$55.20$55.20$550.00$51.10$498.90
9.29%1.4425.00%1.32787335511.4638812294Aeffe S.p.A.
(BIT:AEF)BIT:AEFApparelItalyDeveloped EuropeEU &
Environs$272.40$0.00$82.80$82.80$355.20$33.00$322.209.29
%2.0524.00%1.66634305481.8370113379El Nasr Clothing &
Textiles Co.
(CASE:KABO)CASE:KABOApparelEgyptEmerging
East$29.00$0.00$16.60$16.60$45.60$4.23$41.379.28%-
0.6923.00%-0.4820296489-0.5313162192Yantai Tayho
Advanced Materials Co.,Ltd
MarketsChina$962.80$0.00$0.29$0.29$963.09$89.10$873.999.2
5%0.5625.00%0.55950107780.6165400474Shenzhen Ideal
Jewellery Co.,Ltd.
MarketsChina$251.40$0.00$51.30$51.30$302.70$28.00$274.70
9.25%1.5625.00%1.35088453921.4885793594Towellers Limited
(KASE:TOWL)KASE:TOWLApparelPakistanEmerging
MarketsSmall
Asia$9.47$0.00$0.01$0.01$9.48$0.88$8.609.24%1.3530.00%1.3
4481578871.481783424iFabric Corp.
(TSX:IFA)TSX:IFAApparelCanadaAustralia, NZ and
CanadaCanada$27.90$0.43$1.41$1.84$29.74$2.74$27.009.21%0
.2026.50%0.18965912430.2089028026Bauhaus International
KongEmerging
MarketsChina$60.00$52.23$0.00$52.23$112.23$10.10$102.139.
00%2.0616.50%1.19203436151.3099219209Kuangda
Technology Group Co., Ltd.
MarketsChina$620.40$0.00$0.00$0.00$620.40$55.50$564.908.9
5%1.5425.00%1.54144186051.6928846349Sichuan Langsha

Holding Ltd.
MarketsChina$180.20$0.00$0.00$0.00$180.20$16.10$164.108.9
3%1.5325.00%1.53269767441.6830720349Vakko Tekstil ve
Hazir Giyim Sanayi Isletmeleri A.S.
(IBSE:VAKKO)IBSE:VAKKOApparelTurkeyDeveloped
EuropeEU &
Environs$82.80$0.00$29.40$29.40$112.20$9.99$102.218.90%0.
4622.00%0.36181038360.3971737114Bros Eastern Co.,Ltd
MarketsChina$1,206.20$0.00$634.00$634.00$1,840.20$163.50$
1,676.708.88%0.8525.00%0.60877878840.6681426172Calida
Holding AG
(SWX:CALN)SWX:CALNApparelSwitzerlandDeveloped
EuropeEU &
Environs$254.20$68.40$36.50$104.90$359.10$31.90$327.208.8
8%0.4518.00%0.33985217450.372985585Jinzhou Cihang Group
MarketsChina$725.70$195.57$2,959.70$3,155.27$3,880.97$341
.60$3,539.378.80%1.0325.00%0.24090733170.2641583318Zhe
Jiang Taihua New Material Co., Ltd.
MarketsChina$842.40$0.00$75.60$75.60$918.00$80.80$837.20
8.80%1.3925.00%1.30153614081.4271502356Huasi Holding
Company Limited
MarketsChina$340.90$0.00$34.20$34.20$375.10$33.00$342.10
8.80%1.3925.00%1.28916353941.4135201509Est Global
Apparel Co.,Ltd
MarketsSmall
Asia$12.30$0.21$0.00$0.21$12.51$1.10$11.418.79%0.4620.00
%0.45278846020.4964277019Bangalore Fort Farms Limited
MarketsIndia$1.06$0.00$0.38$0.38$1.44$0.13$1.318.76%-
0.7935.00%-0.6431550361-0.7048744074Blue Chip Tex

Industries Limited
MarketsIndia$3.54$0.14$3.44$3.58$7.12$0.62$6.508.75%0.863
5.00%0.51910811930.5688962029CDRL S.A.
(WSE:CDL)WSE:CDLApparelPolandDeveloped EuropeEU &
Environs$37.50$0.00$14.20$14.20$51.70$4.51$47.198.72%0.76
19.00%0.58197920820.6375995988Shanghai Dragon
Corporation
MarketsChina$426.90$0.00$84.30$84.30$511.20$44.50$466.70
8.71%1.5125.00%1.31675291191.4423057393J.ESTINA
Co.,Ltd. (KOSDAQ:A026040)KOSDAQ:A026040ApparelSouth
Asia$71.00$0.00$30.60$30.60$101.60$8.82$92.788.68%1.6328.
00%1.24362559921.3618491149Burberry Group plc
(LSE:BRBY)LSE:BRBYApparelUnited KingdomDeveloped
EuropeUK$9,035.10$956.62$23.40$980.02$10,015.12$867.50$9
,147.628.66%0.7719.00%0.70750065340.7745953263Metalabs
Co., Ltd. (KOSE:A090370)KOSE:A090370ApparelSouth
Asia$76.10$0.00$18.30$18.30$94.40$8.16$86.248.64%3.3328.0
0%2.83813796153.1066816276Restoque Comércio e
Confecções de Roupas S.A.
(BOVESPA:LLIS3)BOVESPA:LLIS3ApparelBrazilEmerging
Caribbean$356.80$41.13$295.40$336.53$693.33$59.70$633.63
8.61%0.7034.00%0.43030070160.4708433959China Dongxiang
(Group) Co., Ltd.
MarketsChina$901.90$7.02$71.30$78.32$980.22$84.40$895.82
8.61%1.7925.00%1.68273234321.8412717878Zhejiang Busen
Garments Co., Ltd.
MarketsChina$194.40$0.00$0.00$0.00$194.40$16.70$177.708.5
9%-0.6225.00%-0.6224883721-0.6809889676HMT (Xiamen)
New Technical Materials Co., Ltd

MarketsChina$648.60$0.00$0.00$0.00$648.60$55.50$593.108.5
6%1.2025.00%1.19604651161.30796791Prada S.p.A
(SEHK:1913)SEHK:1913ApparelItalyDeveloped EuropeEU &
Environs$8,429.90$2,352.99$1,308.00$3,660.99$12,090.89$1,0
27.80$11,063.098.50%2.3024.00%1.73070388141.8914923946
WW Holding Inc.
Asia$98.20$11.63$52.70$64.33$162.53$13.80$148.738.49%0.2
620.00%0.17204648450.1880100831Christian Dior SE
(ENXTPA:CDI)ENXTPA:CDIApparelFranceDeveloped
EuropeEU &
Environs$68,848.50$11,596.62$15,439.30$27,035.92$95,884.42
$8,095.90$87,788.528.44%1.3633.00%1.07431507981.1733889
434Zhejiang Weixing Industrial Development Co., Ltd.
MarketsChina$773.80$0.00$59.10$59.10$832.90$70.30$762.60
8.44%1.2225.00%1.15475974771.2612108496Thanh Cong
Textile Garment Investment Trading Joint Stock Company
(HOSE:TCM)HOSE:TCMApparelVietnamEmerging
MarketsSmall
Asia$53.50$0.00$53.40$53.40$106.90$9.00$97.908.42%1.0520.
00%0.58408987640.6377855749ZheJiang KangLongDa Special
Protection Technology Co., Ltd.
MarketsChina$382.40$0.00$14.40$14.40$396.80$33.10$363.70
8.34%1.8125.00%1.75861118081.9186607548PT Sri Rejeki
Isman Tbk (IDX:SRIL)IDX:SRILApparelIndonesiaEmerging
MarketsSmall
Asia$505.20$0.00$702.30$702.30$1,207.50$100.50$1,107.008.
32%1.0125.00%0.49393105570.538773035Namyeung Vivien
Corporation (KOSE:A002070)KOSE:A002070ApparelSouth
Asia$35.70$0.00$9.63$9.63$45.33$3.77$41.568.32%0.1628.00
%0.13684146270.1492546561Wellbiotec Co., Ltd.

MarketsSmall
Asia$130.00$0.00$48.40$48.40$178.40$14.80$163.608.30%0.5
228.00%0.40950620610.4465519998Shenyang Cuihua Gold and
Silver Jewelry Co., Ltd.
MarketsChina$379.00$1.05$123.00$124.05$503.05$41.50$461.
558.25%0.8925.00%0.71170790690.7757007538Zhejiang Jasan
Holding Group Co., Ltd.
MarketsChina$656.90$0.00$46.00$46.00$702.90$57.80$645.10
8.22%1.0625.00%1.00297548281.0928405935Zhejiang Bangjie
Digital Knitting Share Co., Ltd.
MarketsChina$331.10$0.00$21.10$21.10$352.20$28.90$323.30
8.21%2.2925.00%2.18192375872.376967361Mirae Joint Stock
Company (HOSE:KMR)HOSE:KMRApparelVietnamEmerging
MarketsSmall
Asia$8.05$0.00$6.84$6.84$14.89$1.22$13.678.19%1.0120.00%
0.60194394660.6556653523Oceancash Pacific Berhad
(KLSE:OCNCASH)KLSE:OCNCASHApparelMalaysiaEmerging
MarketsSmall
Asia$29.60$0.00$3.04$3.04$32.64$2.66$29.988.15%0.5824.00
%0.53647480390.5840739693Redan S.A.
(WSE:RDN)WSE:RDNApparelPolandDeveloped EuropeEU &
Environs$5.03$0.00$23.50$23.50$28.53$2.29$26.248.03%0.381
9.00%0.07856688540.0854235229Bosideng International
KongEmerging
MarketsChina$1,971.10$21.07$347.80$368.87$2,339.97$187.10
$2,152.878.00%1.4916.50%1.28755143021.3994491275Seongan
Co.,Ltd (KOSE:A011300)KOSE:A011300ApparelSouth
Asia$31.20$0.00$120.40$120.40$151.60$12.10$139.507.98%0.
5828.00%0.15429560260.1676789488OVS S.p.A.
(BIT:OVS)BIT:OVSApparelItalyDeveloped EuropeEU &
Environs$284.30$0.00$583.70$583.70$868.00$69.10$798.907.9

6%1.9524.00%0.76060199940.8263894548Zero to Seven Inc.
Asia$123.40$0.00$27.60$27.60$151.00$12.00$139.007.95%1.5
928.00%1.36539894191.4832751096Saigon Garment
Manufacturing Trading Joint Stock Company
(HOSE:GMC)HOSE:GMCApparelVietnamEmerging
MarketsSmall
Asia$23.30$0.00$11.50$11.50$34.80$2.75$32.057.90%0.0120.0
0%0.00668572450.0072593826Lu Thai Textile Co., Ltd.
MarketsChina$1,247.10$0.00$256.60$256.60$1,503.70$118.50$
1,385.207.88%0.5225.00%0.45372607720.4925410787Ambeon
Capital PLC (COSE:TAP-N-0000)COSE:TAP-N-
0000ApparelSri LankaEmerging MarketsSmall
Asia$22.00$0.11$46.80$46.91$68.91$5.41$63.507.85%0.1128.0
0%0.04220582570.0458017006GUANGDONG CHJ INDUSTRY
CO.,LTD. (SZSE:002345)SZSE:002345ApparelChinaEmerging
MarketsChina$588.50$0.00$189.00$189.00$777.50$60.90$716.
607.83%1.1525.00%0.92448517951.0030522287Travelite
Holdings Ltd. (SGX:BCZ)SGX:BCZApparelSingaporeEmerging
MarketsSmall
Asia$7.25$21.48$16.90$38.38$45.63$3.56$42.077.80%-
0.1317.00%-0.0232717803-0.0252408753Sumagh High Tech
MarketsSmall
Asia$5.31$1.44$1.01$2.45$7.76$0.60$7.167.69%0.4820.00%0.3
5333958250.3827882752Crossfor Co.,Ltd.
0.00$24.30$24.30$68.20$5.14$63.067.54%1.2030.86%0.866531
85310.9371625814Hojeon Limited
MarketsSmall
Asia$67.60$0.00$123.90$123.90$191.50$14.40$177.107.52%1.
0828.00%0.46518746670.503011857Unifi, Inc.
(NYSE:UFI)NYSE:UFIApparelUnited StatesUnited

StatesUnited
States$419.90$4.01$140.40$144.41$564.31$42.20$522.117.48%
0.8325.00%0.65798475980.7111672159Betex India Limited
MarketsIndia$0.61$0.00$2.11$2.11$2.72$0.20$2.517.47%0.273
5.00%0.08178585830.0883925154HengTen Networks Group
MarketsChina$2,267.50$0.62$7.78$8.40$2,275.90$169.80$2,10
6.107.46%2.6816.50%2.66767882892.8827550198Nitto Seimo
Co., Ltd.
0$84.55$112.45$8.32$104.137.40%0.6330.86%0.20281314050.
2190184109BIEM.L.FDLKK Garment Co.,Ltd.
MarketsChina$880.70$0.00$0.00$0.00$880.70$64.40$816.307.3
1%1.1625.00%1.15655813951.2478019766United Leasing &
Industries Limited
MarketsIndia$0.60$0.00$0.36$0.36$0.96$0.07$0.897.29%0.033
5.00%0.02119316070.0228600385PT Tifico Fiber Indonesia
Tbk (IDX:TFCO)IDX:TFCOApparelIndonesiaEmerging
MarketsSmall
Asia$221.30$0.00$0.00$0.00$221.30$16.10$205.207.28%0.072
5.00%0.06686046510.0721063398Jinfa Labi Maternity & Baby
Articles Co., Ltd
MarketsChina$268.60$0.00$0.00$0.00$268.60$19.50$249.107.2
6%1.2725.00%1.26706976741.366258288Universal
Incorporation (TSEC:1325)TSEC:1325ApparelTaiwanEmerging
MarketsSmall
Asia$46.00$0.00$0.00$0.00$46.00$3.32$42.687.22%0.1420.00
%0.13534883720.1458773784Wonpung Mulsan Co.,Ltd
Asia$105.70$0.00$15.40$15.40$121.10$8.64$112.467.13%1.54
28.00%1.39631620321.50359143Asia Television Holdings

MarketsChina$247.80$0.86$65.50$66.36$314.16$22.30$291.86
7.10%2.2916.50%1.87516918532.0184451448hyungji Elite Co.,
Ltd. (KOSE:A093240)KOSE:A093240ApparelSouth
Asia$31.60$0.00$32.00$32.00$63.60$4.51$59.097.09%1.3128.0
0%0.75823214950.8161036506Ahlers AG
(DB:AAH)DB:AAHApparelGermanyDeveloped EuropeEU &
Environs$25.70$22.75$27.00$49.75$75.45$5.34$70.117.08%0.6
415.00%0.24088391950.2592310616Ensure Global Corp., Ltd.
MarketsSmall
Asia$8.65$0.00$0.00$0.00$8.65$0.61$8.047.03%2.4020.00%2.3
9511627912.5761944559Vincenzo Zucchi S.p.A.
(BIT:ZUC)BIT:ZUCApparelItalyDeveloped EuropeEU &
Environs$56.70$0.00$100.90$100.90$157.60$11.00$146.606.98
%0.7024.00%0.29705456280.3193437865Shijiazhuang
Changshan Beiming Technology Co., Ltd.
MarketsChina$1,254.60$0.00$590.70$590.70$1,845.30$126.30$
1,719.006.84%1.6725.00%1.2363497651.3271880287JNBY
Design Limited
MarketsChina$697.90$39.49$0.00$39.49$737.39$50.40$686.99
6.83%3.1425.00%3.01282480963.2338570906STO Co., Ltd.
Asia$19.00$0.00$18.50$18.50$37.50$2.56$34.946.83%0.4928.0
0%0.2899299160.3111726345Pacific Textiles Holdings Limited
MarketsChina$1,285.50$3.31$51.80$55.11$1,340.61$90.80$1,2
49.816.77%0.7716.50%0.74327702880.7972769056The Swatch
Group AG
(SWX:UHR)SWX:UHRApparelSwitzerlandDeveloped
EuropeEU &
Environs$15,295.20$2,432.65$290.90$2,723.55$18,018.75$1,21

4.90$16,803.856.74%1.8418.00%1.60922474381.7255699584A
mtek Holdings Berhad
(KLSE:AMTEK)KLSE:AMTEKApparelMalaysiaEmerging
MarketsSmall
Asia$3.26$0.00$0.56$0.56$3.82$0.26$3.566.73%1.6824.00%1.4
8910568351.5965152149Tri Ocean Textile Co., Ltd.
Asia$43.20$0.04$12.40$12.44$55.64$3.74$51.906.72%1.3020.0
0%1.05584224381.1319285287Katare Spinning Mills Limited
MarketsIndia$0.35$0.00$4.52$4.52$4.87$0.33$4.556.71%-
0.2535.00%-0.0270559072-0.0290016476Sunvim Group Co.,Ltd
MarketsChina$650.90$6.13$484.80$490.93$1,141.83$76.30$1,0
65.536.68%1.0925.00%0.69516035620.7449390594People's
Garment Public Company Limited
(SET:PG)SET:PGApparelThailandEmerging MarketsSmall
Asia$15.90$0.42$0.00$0.42$16.32$1.09$15.236.68%0.6720.00
%0.66028910440.7075442601Agabang&Company
Asia$110.80$0.00$0.80$0.80$111.60$7.43$104.176.66%1.4728.
00%1.46551256691.5700453163Tapestry, Inc.
(NYSE:TPR)NYSE:TPRApparelUnited StatesUnited
StatesUnited
States$9,780.60$2,233.19$1,601.20$3,834.39$13,614.99$904.70
$12,710.296.64%0.8125.00%0.62712762130.6717656485Nan
Liu Enterprise Co., Ltd.
Asia$370.20$0.00$113.80$113.80$484.00$32.10$451.906.63%0
.3920.00%0.31292809270.3351564436Coats Group plc
(LSE:COA)LSE:COAApparelUnited KingdomDeveloped
EuropeUK$1,464.40$52.92$396.60$449.52$1,913.92$126.40$1,
787.526.60%1.0319.00%0.82457457020.8828824091Guirenniao
Co., Ltd. (SHSE:603555)SHSE:603555ApparelChinaEmerging
MarketsChina$527.40$0.00$434.60$434.60$962.00$63.50$898.

506.60%2.1425.00%1.32155963161.4149586707Dogness
(International) Corporation
(NasdaqGM:DOGZ)NasdaqGM:DOGZApparelChinaEmerging
MarketsChina$101.00$1.63$4.84$6.47$107.47$7.09$100.386.60
%1.3125.00%1.25409174771.3426697984Ta Jiang Co., Ltd.
Asia$27.00$0.00$0.00$0.00$27.00$1.78$25.226.59%0.7720.00
%0.77234883720.8268603729RYU Apparel Inc.
(TSXV:RYU)TSXV:RYUApparelCanadaAustralia, NZ and
CanadaCanada$39.20$6.77$0.06$6.83$46.03$3.03$43.006.58%1
.4826.50%1.30862218041.4008416149Hansae Co., Ltd.
MarketsSmall
Asia$704.50$0.00$490.80$490.80$1,195.30$78.30$1,117.006.5
5%0.0428.00%0.02631304790.0281575525Indo Rama
Synthetics (India) Limited
MarketsIndia$74.80$2.92$60.50$63.42$138.22$9.05$129.176.5
5%2.2935.00%1.4795184281.5831796685Crocodile Garments
MarketsChina$82.30$10.51$110.50$121.01$203.31$13.30$190.
016.54%2.3016.50%1.0343382881.1067384696State Energy
Group International Assets Holdings Limited
MarketsChina$27.70$0.81$20.90$21.71$49.41$3.23$46.186.54
%-0.0716.50%-0.0415122932-0.0444160664Argon Denims
Limited
(DSE:ARGONDENIM)DSE:ARGONDENIMApparelBangladesh
Emerging MarketsSmall
Asia$38.50$0.00$16.20$16.20$54.70$3.56$51.146.51%0.2225.0
0%0.16856952640.1803041278Rodrigo Tekstil Sanayi ve
Ticaret A.S.
(IBSE:RODRG)IBSE:RODRGApparelTurkeyDeveloped
EuropeEU &
Environs$2.54$0.00$1.31$1.31$3.85$0.25$3.606.49%0.2822.00
%0.20181368970.2158285293GOODPEOPLE Co., Ltd.

Asia$116.50$0.00$4.86$4.86$121.36$7.82$113.546.44%1.1228.
00%1.09077238811.1658986879Muscat Thread Mills SAOG
(MSM:MTMI)MSM:MTMIApparelOmanEmerging
East$3.27$0.04$0.48$0.52$3.79$0.24$3.556.44%0.2715.00%0.2
4086898560.2574368336CPL Group Public Company Limited
(SET:CPL)SET:CPLApparelThailandEmerging MarketsSmall
Asia$40.60$0.00$36.30$36.30$76.90$4.94$71.966.42%0.4620.0
0%0.26973838880.2882557268AYM Syntex Limited
MarketsIndia$27.20$0.00$34.40$34.40$61.60$3.90$57.706.33%
0.4935.00%0.26756086120.2856455641Gunze Limited
.30$253.30$976.00$61.70$914.306.32%1.0630.86%0.85196259
190.9094558566Fujian SBS Zipper Science&Technology Co.,
Ltd (SZSE:002098)SZSE:002098ApparelChinaEmerging
MarketsChina$408.10$0.00$144.10$144.10$552.20$34.90$517.
306.32%1.2725.00%1.00440420761.0721670277Cia. Hering
(BOVESPA:HGTX3)BOVESPA:HGTX3ApparelBrazilEmerging
Caribbean$1,217.70$18.76$6.95$25.71$1,243.41$78.50$1,164.9
16.31%1.6834.00%1.65601956371.7676143838Teejay Lanka
PLC (COSE:TJL-N-0000)COSE:TJL-N-0000ApparelSri
LankaEmerging MarketsSmall
Asia$124.70$2.48$20.30$22.78$147.48$9.23$138.256.26%0.31
28.00%0.27277799540.290989913Kitanihon Spinning Co., Ltd.
(TSE:3409)TSE:3409ApparelJapanJapanJapan$7.83$0.00$4.04$
4.04$11.87$0.74$11.136.23%0.4530.86%0.32891022780.35077
8473Saigon Fishing Net Joint Stock Company
(HNX:SFN)HNX:SFNApparelVietnamEmerging MarketsSmall
Asia$3.94$0.00$0.00$0.00$3.94$0.25$3.706.22%0.3220.00%0.3
226279070.3440200145Vaibhav Global Limited
MarketsIndia$340.00$3.96$7.37$11.33$351.33$21.70$329.636.

18%1.1935.00%1.16333044811.2399134408Hong Ho Precision
Textile Co.,Ltd.
Asia$107.40$0.64$65.30$65.94$173.34$10.70$162.646.17%0.6
120.00%0.40909613520.436009631Shahzad Textile Mills
Limited (KASE:SZTM)KASE:SZTMApparelPakistanEmerging
MarketsSmall
Asia$4.98$0.00$2.12$2.12$7.10$0.44$6.666.15%0.5830.00%0.4
4632447330.4755971425Culp, Inc.
(NYSE:CULP)NYSE:CULPApparelUnited StatesUnited
StatesUnited
States$236.10$5.37$0.00$5.37$241.47$14.80$226.676.13%0.27
25.00%0.26184059430.2789366378High Street Filatex Limited
MarketsIndia$0.11$0.00$0.02$0.02$0.13$0.01$0.126.11%0.793
5.00%0.71667258680.763285438SBW, Inc.
MarketsSmall
Asia$117.60$0.00$29.80$29.80$147.40$8.97$138.436.09%0.85
28.00%0.72201355050.7687986516Citychamp Watch &
Jewellery Group Limited (SEHK:256)SEHK:256ApparelHong
KongEmerging
MarketsChina$905.80$6.22$143.40$149.62$1,055.42$63.80$99
1.626.05%0.6116.50%0.53629028310.5707949228Taiwan
Taffeta Fabric Co., Ltd.
Asia$36.10$0.00$6.89$6.89$42.99$2.59$40.406.02%0.6720.00
%0.57810325290.6151648228Ashima Limited
(NSEI:ASHIMASYN)NSEI:ASHIMASYNApparelIndiaEmergin
g
MarketsIndia$30.90$0.00$3.13$3.13$34.03$2.05$31.986.02%1.
5235.00%1.42717246741.518657882Jindo.Co., Ltd.
MarketsSmall
Asia$54.40$0.00$32.00$32.00$86.40$5.20$81.206.02%1.0228.0
0%0.71803190470.7640142434Damiani S.p.A.

(BIT:DMN)BIT:DMNApparelItalyDeveloped EuropeEU &
Environs$75.80$0.00$78.20$78.20$154.00$9.24$144.766.00%0.
3824.00%0.21245448680.2260154115Kukdong Corporation
MarketsSmall
Asia$32.60$0.00$38.30$38.30$70.90$4.25$66.655.99%2.2028.0
0%1.19124513831.2672060061HYUNGJI Innovation and
Creative Company Limited
Asia$23.70$0.00$22.30$22.30$46.00$2.75$43.255.98%0.9628.0
0%0.57087688390.6071754141Baoxiniao Holding Co., Ltd.
MarketsChina$554.40$0.00$50.80$50.80$605.20$35.90$569.30
5.93%1.2825.00%1.19980189581.2754612811Chow Tai Seng
Jewellery Co., Ltd.
MarketsChina$1,950.10$0.00$87.40$87.40$2,037.50$119.90$1,
917.605.88%0.9225.00%0.89323104840.9490812793Karsu
Tekstil Sanayii ve Ticaret A.S.
(IBSE:KRTEK)IBSE:KRTEKApparelTurkeyDeveloped
EuropeEU &
Environs$8.29$0.00$37.00$37.00$45.29$2.66$42.635.87%1.442
2.00%0.3221017540.3422000572Desh Garments Limited
(DSE:DSHGARME)DSE:DSHGARMEApparelBangladeshEmerg
ing MarketsSmall
Asia$15.20$0.00$1.28$1.28$16.48$0.95$15.535.78%-
0.2125.00%-0.2016589915-0.2140362066Kwang Ming Silk Mill
Co., Ltd. (GTSM:4420)GTSM:4420ApparelTaiwanEmerging
MarketsSmall
Asia$45.60$0.91$19.40$20.31$65.91$3.77$62.145.72%0.4320.0
0%0.31785574380.3371396832Formosa Taffeta Co., Ltd.
Asia$1,900.20$0.00$414.90$414.90$2,315.10$131.90$2,183.20
5.70%1.1720.00%0.99958260561.0599732916Fiyta Holdings

MarketsChina$428.40$7.59$81.90$89.49$517.89$28.90$488.99
5.58%0.9025.00%0.7813336010.8275115956Nilörngruppen AB
(OM:NIL B)OM:NIL BApparelSwedenDeveloped EuropeEU &
Environs$86.60$3.00$6.68$9.68$96.28$5.37$90.915.58%1.4122
.00%1.29582151571.3723656537Anhui Huamao Textile Co.,
MarketsChina$439.10$0.00$350.10$350.10$789.20$44.00$745.
205.58%1.3925.00%0.8700931310.9214673899China Weaving
Materials Holdings Limited
MarketsChina$71.20$0.08$75.60$75.68$146.88$8.15$138.735.5
5%0.2525.00%0.14037122690.1486174369E-Land Apparel
MarketsIndia$4.48$1.25$1.47$2.72$7.20$0.40$6.815.52%0.853
5.00%0.60987325150.6455374445Jiangsu Sunshine Co., Ltd.
MarketsChina$544.60$0.00$231.30$231.30$775.90$42.80$733.
105.52%1.6125.00%1.21937515431.2905649737SG
Choongbang Co.,Ltd
MarketsSmall
Asia$116.80$0.00$35.90$35.90$152.70$8.39$144.315.49%1.84
28.00%1.50489492431.5923876027Kwong Fong Industries
MarketsSmall
Asia$86.30$0.00$117.60$117.60$203.90$11.20$192.705.49%0.
7420.00%0.35499833680.3756313486adidas AG
(DB:ADS)DB:ADSApparelGermanyDeveloped EuropeEU &
Environs$42,029.50$2,746.66$1,950.70$4,697.36$46,726.86$2,
566.50$44,160.365.49%1.1215.00%1.02071107391.0800324923
Gansu Gangtai Holding (Group) Co., Ltd.
MarketsChina$898.40$0.00$564.00$564.00$1,462.40$79.40$1,3
83.005.43%-0.4525.00%-0.3034816773-0.3209049927Tung Ho
Textile Co., Ltd.

Asia$51.00$0.00$17.20$17.20$68.20$3.67$64.535.38%1.2120.0
0%0.95640109461.0107942763Hermès International Société en
commandite par actions
(ENXTPA:RMS)ENXTPA:RMSApparelFranceDeveloped
EuropeEU &
Environs$57,876.40$1,028.16$45.90$1,074.06$58,950.46$3,171
.50$55,778.965.38%0.9033.00%0.88689194350.9373191596Suz
hou TA&A Ultra Clean Technology Co.,LTD.
MarketsChina$367.70$0.00$1.89$1.89$369.59$19.80$349.795.3
6%2.3825.00%2.37243554982.5067281937Salvatore Ferragamo
S.p.A. (BIT:SFER)BIT:SFERApparelItalyDeveloped EuropeEU
&
Environs$3,411.20$593.87$55.30$649.17$4,060.37$217.30$3,8
43.075.35%1.3924.00%1.21253260541.2810932828Hateks
Hatay Tekstil Isletmeleri A.S.
(IBSE:HATEK)IBSE:HATEKApparelTurkeyDeveloped
EuropeEU &
Environs$15.70$0.00$13.90$13.90$29.60$1.56$28.045.27%0.03
22.00%0.01491191080.015741532Omikenshi Co., Ltd.
0$89.80$121.40$6.34$115.065.22%1.1130.86%0.37359767410.
3941835359Samsonite International S.A.
(SEHK:1910)SEHK:1910ApparelLuxembourgDeveloped
EuropeEU &
Environs$4,065.50$568.75$1,953.30$2,522.05$6,587.55$341.50
$6,246.055.18%1.8226.01%1.24662286771.3147814306Ralph
Lauren Corporation (NYSE:RL)NYSE:RLApparelUnited
States$8,322.10$1,571.94$938.60$2,510.54$10,832.64$553.10$
10,279.545.11%0.7025.00%0.57079002610.6015019018Ganesha
Ecosphere Limited
MarketsIndia$93.20$0.00$17.80$17.80$111.00$5.64$105.365.0
8%1.4735.00%1.30526464391.3751364415Blue Diamonds
Jewellery Worldwide PLC (COSE:BLUE-N-0000)COSE:BLUE-

N-0000ApparelSri LankaEmerging MarketsSmall
Asia$0.88$0.00$0.24$0.24$1.13$0.06$1.075.07%0.7328.00%0.6
0814006270.6405969761GTN Textiles Limited
MarketsIndia$1.71$0.00$8.55$8.55$10.26$0.52$9.745.05%1.21
35.00%0.28543365250.3006106831Mc Group Public Company
Limited (SET:MC)SET:MCApparelThailandEmerging
MarketsSmall
Asia$266.70$20.72$0.01$20.73$287.43$14.50$272.935.04%0.6
520.00%0.61525920690.647946565Xiamen Yanjan New
Material Co., Ltd.
MarketsChina$246.70$1.79$37.20$38.99$285.69$14.30$271.39
5.01%1.1925.00%1.05944743951.1152718707Adolfo
Domínguez, S.A.
(BME:ADZ)BME:ADZApparelSpainDeveloped EuropeEU &
Environs$72.80$33.64$0.00$33.65$106.45$5.31$101.144.99%1.
4125.00%1.04600499871.1009231067Diriteks Dirilis Tekstil
Sanayi ve Ticaret A.S.
(IBSE:DIRIT)IBSE:DIRITApparelTurkeyDeveloped EuropeEU
&
Environs$1.57$0.00$1.82$1.82$3.39$0.17$3.224.90%0.5622.00
%0.29493318770.3101189536Regina Miracle International
KongEmerging
MarketsChina$948.90$29.79$321.90$351.69$1,300.59$63.60$1,
236.994.89%1.0516.50%0.80159660510.8428106356Joeone
Co., Ltd. (SHSE:601566)SHSE:601566ApparelChinaEmerging
MarketsChina$1,107.10$3.04$29.10$32.14$1,139.24$55.60$1,0
83.644.88%0.7725.00%0.756368240.7951763656Square
Textiles Limited
(DSE:SQUARETEXT)DSE:SQUARETEXTApparelBangladeshE
merging MarketsSmall
Asia$107.20$0.00$40.80$40.80$148.00$7.12$140.884.81%-
0.3125.00%-0.2396594998-0.251771763PBM Polytex Limited

MarketsIndia$9.22$0.04$1.17$1.21$10.43$0.50$9.934.78%0.75
35.00%0.68940182380.7240370602Tosrifa Industries Limited
(DSE:TOSRIFA)DSE:TOSRIFAApparelBangladeshEmerging
MarketsSmall
Asia$15.50$0.00$15.10$15.10$30.60$1.46$29.144.77%0.3725.0
0%0.21416935780.2248998747Jubilee Spinning & Weaving
Mills Limited
(KASE:JUBS)KASE:JUBSApparelPakistanEmerging
MarketsSmall
Asia$0.99$0.00$0.12$0.12$1.11$0.05$1.064.77%-1.3430.00%-
1.2369667552-1.2989320085Lancy Co., Ltd.
MarketsChina$510.70$0.00$428.90$428.90$939.60$44.60$895.
004.75%0.3825.00%0.23474539160.2464433184Hubei Mailyard
Share Co.,Ltd
MarketsChina$296.80$0.00$40.30$40.30$337.10$15.90$321.20
4.72%1.2425.00%1.12341007991.1790209774KDDL Limited
MarketsIndia$83.60$10.14$14.40$24.54$108.14$5.10$103.044.
72%0.7535.00%0.62669109550.6577099316Textile Prestige
(SET:TPCORP)SET:TPCORPApparelThailandEmerging
MarketsSmall
Asia$44.80$0.16$0.00$0.16$44.96$2.12$42.844.72%0.4520.00
%0.45280267570.4752120006S.P. Apparels Limited
MarketsIndia$88.60$0.00$25.60$25.60$114.20$5.38$108.824.7
1%1.0435.00%0.87407264020.9172863031Blessed Textiles
Limited (KASE:BTL)KASE:BTLApparelPakistanEmerging
MarketsSmall
Asia$13.00$0.00$32.90$32.90$45.90$2.14$43.764.66%-
0.0730.00%-0.0237379703-0.0248988308Shenzhen Fuanna
Bedding and Furnishing Co., Ltd.
MarketsChina$951.30$52.97$26.20$79.17$1,030.47$47.70$982.

774.63%1.7625.00%1.65622494011.736611765Piippo Oyj
(HLSE:PIIPPO)HLSE:PIIPPOApparelFinlandDeveloped
EuropeEU &
Environs$5.09$0.00$10.50$10.50$15.59$0.72$14.874.62%0.542
0.00%0.20556448030.2155178377Eastern Silk Industries
MarketsIndia$3.02$0.00$21.20$21.20$24.22$1.10$23.124.54%1
.0235.00%0.18344493360.1921728499Winsome Textile
Industries Limited
MarketsIndia$8.54$0.00$38.00$38.00$46.54$2.11$44.434.53%0
.1635.00%0.04194358160.0439355005Aarvee Denims and
Exports Limited
MarketsIndia$8.88$0.00$59.80$59.80$68.68$3.11$65.574.53%1
.0535.00%0.19475668330.2039940371De Licacy Industrial Co.,
MarketsSmall
Asia$215.20$1.84$311.70$313.54$528.74$23.90$504.844.52%0
.7820.00%0.35941652050.3764317957Mulberry Group plc
(AIM:MUL)AIM:MULApparelUnited KingdomDeveloped
EuropeUK$224.50$155.48$1.45$156.93$381.43$17.20$364.234.
51%0.7419.00%0.47446373050.4968691136PT Trisula Textile
Industries Tbk
(IDX:BELL)IDX:BELLApparelIndonesiaEmerging
MarketsSmall
Asia$24.00$0.00$10.60$10.60$34.60$1.56$33.044.51%1.0725.0
0%0.80471667210.8427117692Pan-Pacific Co., Ltd.
MarketsSmall
Asia$112.40$0.00$331.60$331.60$444.00$20.00$424.004.50%0
.3328.00%0.10581556940.1108068699S.T. Dupont S.A.
(ENXTPA:DPT)ENXTPA:DPTApparelFranceDeveloped
EuropeEU &
Environs$75.30$10.97$13.80$24.77$100.07$4.50$95.574.50%0.
5933.00%0.48436389060.5071707898Delta Galil Industries Ltd.

(TASE:DELT)TASE:DELTApparelIsraelEmerging
East$629.50$259.35$421.30$680.65$1,310.15$58.70$1,251.454
.48%0.7223.00%0.39131704580.4096719462Italia Independent
Group S.p.A. (BIT:IIG)BIT:IIGApparelItalyDeveloped
EuropeEU &
Environs$15.10$0.00$27.40$27.40$42.50$1.90$40.604.47%1.37
24.00%0.577820650.6048615179Ilshin Spinning Co., Ltd
MarketsSmall
Asia$201.30$0.00$87.50$87.50$288.80$12.90$275.904.47%0.0
928.00%0.06860024290.0718077207evertex fabrinology limited
Asia$49.10$0.07$1.48$1.55$50.65$2.26$48.394.46%0.9620.00
%0.93871220230.9825564677LPP SA Capital Group
(WSE:LPP)WSE:LPPApparelPolandDeveloped EuropeEU &
Environs$3,827.30$1,285.77$88.50$1,374.27$5,201.57$231.10$
4,970.474.44%0.8619.00%0.66547980880.69642104In the F
Co.,Ltd. (KOSE:A014990)KOSE:A014990ApparelSouth
Asia$120.00$0.00$22.10$22.10$142.10$6.27$135.834.41%-
1.2428.00%-1.090637307-1.1409818253Binayak Tex Processors
MarketsIndia$6.91$0.00$5.12$5.12$12.03$0.53$11.504.40%-
0.3935.00%-0.2662703017-0.2785176706Makalot Industrial
Co., Ltd. (TSEC:1477)TSEC:1477ApparelTaiwanEmerging
MarketsSmall
Asia$1,163.60$4.78$13.40$18.18$1,181.78$51.40$1,130.384.35
%0.2420.00%0.23921908110.2500967048Asia Brands Berhad
(KLSE:ASIABRN)KLSE:ASIABRNApparelMalaysiaEmerging
MarketsSmall
Asia$10.70$2.02$24.30$26.32$37.02$1.61$35.414.35%1.0824.0
0%0.37723579030.3943872416Hongda High-Tech Holding
Co.,Ltd. (SZSE:002144)SZSE:002144ApparelChinaEmerging
MarketsChina$251.90$0.00$0.16$0.16$252.06$10.90$241.164.3
2%1.3225.00%1.32306383441.3828651895Moncler S.p.A.

(BIT:MONC)BIT:MONCApparelItalyDeveloped EuropeEU &
Environs$8,335.90$377.08$95.10$472.18$8,808.08$379.60$8,4
28.484.31%1.4124.00%1.35095437881.4117983289Meisheng
Cultural & Creative Corp., Ltd.
MarketsChina$724.80$0.00$74.20$74.20$799.00$34.40$764.60
4.31%0.3025.00%0.27441856890.2867648922Vertice Berhad
(KLSE:VERTICE)KLSE:VERTICEApparelMalaysiaEmerging
MarketsSmall
Asia$39.80$4.86$1.23$6.09$45.89$1.96$43.934.27%0.1724.00
%0.15169584080.1584633267Titaanium Ten Enterprise Limited
MarketsIndia$1.02$0.00$4.48$4.48$5.50$0.23$5.274.25%-
0.0535.00%-0.0138392202-0.0144541799Ambika Cotton Mills
MarketsIndia$95.00$0.00$7.58$7.58$102.58$4.36$98.224.25%0
.7435.00%0.7057023720.7370286024Arsan Tekstil Ticartet ve
Sanayi A.S.
(IBSE:ARSAN)IBSE:ARSANApparelTurkeyDeveloped
EuropeEU &
Environs$25.90$0.00$23.10$23.10$49.00$2.08$46.924.24%0.65
22.00%0.38328046110.4002715813Eminent Luggage
Corporation (GTSM:9950)GTSM:9950ApparelTaiwanEmerging
MarketsSmall
Asia$44.00$2.02$80.90$82.92$126.92$5.38$121.544.24%0.462
0.00%0.18298808010.1910877718Hayleys Fabric PLC
(COSE:MGT-N-0000)COSE:MGT-N-0000ApparelSri
LankaEmerging MarketsSmall
Asia$10.30$0.00$16.60$16.60$26.90$1.14$25.764.24%0.9628.0
0%0.44435378690.4640185119Hanesbrands Inc.
(NYSE:HBI)NYSE:HBIApparelUnited StatesUnited
StatesUnited
States$4,520.00$504.06$4,383.80$4,887.86$9,407.86$398.50$9,
009.364.24%0.8225.00%0.45247841390.4724923491Caleffi
S.p.A. (BIT:CLF)BIT:CLFApparelItalyDeveloped EuropeEU &
Environs$26.30$0.00$17.20$17.20$43.50$1.84$41.664.23%0.26

24.00%0.17157579650.1791537961N.P. Spinning Mills Limited
(KASE:NPSM)KASE:NPSMApparelPakistanEmerging
MarketsSmall
Asia$0.93$0.00$4.82$4.82$5.75$0.24$5.504.23%-0.5430.00%-
0.1164500127-0.1215931158Lululemon Athletica Inc.
(NasdaqGS:LULU)NasdaqGS:LULUApparelCanadaAustralia,
NZ and
CanadaCanada$16,101.60$535.56$0.00$535.56$16,637.16$703.
60$15,933.564.23%1.0426.50%1.01477919981.0595901962The
Jordan Worsted Mills Co. Ltd.
(ASE:JOWM)ASE:JOWMApparelJordanEmerging
East$63.40$0.00$1.57$1.57$64.97$2.73$62.244.20%0.2420.00
%0.2368656590.2472551713GTN Industries Limited
MarketsIndia$2.55$0.00$23.70$23.70$26.25$1.08$25.174.11%0
.2735.00%0.03820054010.0398396574Zhejiang Jiaxin Silk
Corp., Ltd. (SZSE:002404)SZSE:002404ApparelChinaEmerging
MarketsChina$449.40$0.00$129.20$129.20$578.60$23.60$555.
004.08%1.1225.00%0.91963728080.9587425778Yondoshi
Holdings Inc.
8$4.40$513.90$20.90$493.004.07%0.3830.86%0.37883243380.
3948926321Chia Her Industrial Co., Ltd.
Asia$16.80$16.90$106.10$123.00$139.80$5.68$134.124.06%1.
8020.00%0.26241638020.2735296479Anhui Korrun Co., Ltd.
MarketsChina$986.60$0.00$4.37$4.37$990.97$40.20$950.774.0
6%1.6725.00%1.66303351721.7333491008Renaissance
Jewellery Limited
MarketsIndia$85.60$2.74$99.80$102.54$188.14$7.63$180.514.
06%0.7735.00%0.43192687920.4501835472Shinkong Textile
Co.,Ltd. (TSEC:1419)TSEC:1419ApparelTaiwanEmerging
MarketsSmall

Asia$440.20$2.50$94.70$97.20$537.40$21.70$515.704.04%0.3
120.00%0.26630511090.2775108134L'azurde Company for
Jewelry (SASE:4011)SASE:4011ApparelSaudi ArabiaEmerging
East$183.40$7.71$269.00$276.71$460.11$18.50$441.614.02%-
0.4720.00%-0.2121119049-0.2209976518Sheetal Diamonds
MarketsIndia$0.34$0.00$0.01$0.01$0.35$0.01$0.344.01%-
0.2535.00%-0.2442036185-0.2544091428Lan Fa Textile Co.,
MarketsSmall
Asia$87.70$0.00$143.60$143.60$231.30$9.25$222.054.00%0.9
020.00%0.38800293650.4041660852Garden Silk Mills Limited
MarketsIndia$14.50$0.00$152.00$152.00$166.50$6.65$159.853
.99%1.4035.00%0.17900665040.1864535958Patspin India
Limited
(NSEI:PATSPINLTD)NSEI:PATSPINLTDApparelIndiaEmergin
g
MarketsIndia$5.33$0.00$27.00$27.00$32.33$1.28$31.053.96%1
.1335.00%0.26280523260.2736390715Próchnik S.A.
(WSE:PRC)WSE:PRCApparelPolandDeveloped EuropeEU &
Environs$0.14$0.00$5.31$5.31$5.45$0.21$5.243.93%1.1519.00
%0.03689073530.0383979169Zhejiang Giuseppe Garment Co.,
Ltd (SZSE:002687)SZSE:002687ApparelChinaEmerging
MarketsChina$319.40$0.00$4.37$4.37$323.77$12.70$311.073.9
2%0.7925.00%0.78354114460.8155306406Seasons Textiles
MarketsIndia$1.10$0.00$3.52$3.52$4.62$0.18$4.443.87%1.303
5.00%0.42058290550.4375350199Reliance Chemotex Industries
MarketsIndia$4.31$0.00$10.70$10.70$15.01$0.58$14.433.84%1
.1735.00%0.4489777970.4669269545Dragon Sweater &
Spinning Limited
(DSE:DSSL)DSE:DSSLApparelBangladeshEmerging
MarketsSmall

Asia$40.30$0.00$4.40$4.40$44.70$1.70$43.003.80%1.0625.00
%0.97665377641.0152656699Stylecraft Limited
(DSE:STYLECRAFT)DSE:STYLECRAFTApparelBangladeshE
merging MarketsSmall
Asia$10.40$0.00$1.80$1.80$12.20$0.46$11.743.79%-
0.2025.00%-0.1728427511-0.1796457287Luckytex (Thailand)
(SET:LTX)SET:LTXApparelThailandEmerging MarketsSmall
Asia$165.70$0.21$41.80$42.01$207.71$7.84$199.873.77%1.17
20.00%0.97283314871.010993333Vandana Knitwear Limited
MarketsIndia$0.29$0.00$0.00$0.00$0.29$0.01$0.283.77%0.483
5.00%0.48141860470.5002641728Premco Global Limited
MarketsIndia$10.20$2.02$0.60$2.63$12.83$0.48$12.343.77%-
0.7735.00%-0.6588873602-0.6846721655Wolford
Aktiengesellschaft
(WBAG:WOL)WBAG:WOLApparelAustriaDeveloped
EuropeEU &
Environs$91.80$66.38$37.30$103.68$195.48$7.36$188.123.77
%0.4225.00%0.22802926530.2369508279Lanzhou Sanmao
Industrial Co.,Ltd.
MarketsChina$235.00$0.00$34.30$34.30$269.30$10.10$259.20
3.75%1.5325.00%1.37616752931.4297913412Ningxia Zhongyin
Cashmere Co., Ltd.
MarketsChina$333.30$0.00$708.90$708.90$1,042.20$39.00$1,0
03.203.74%1.1725.00%0.44945497950.4669278107Shri
Jagdamba Polymers Limited
MarketsIndia$28.90$0.00$1.76$1.76$30.66$1.14$29.523.72%1.
8035.00%1.73023015861.7970479899Le Tanneur & Cie
(ENXTPA:LTAN)ENXTPA:LTANApparelFranceDeveloped
EuropeEU &
Environs$26.40$9.15$4.33$13.48$39.88$1.45$38.433.64%0.073

3.00%0.05354600160.055566089Saritow Spinning Mills
Limited (KASE:SSML)KASE:SSMLApparelPakistanEmerging
MarketsSmall
Asia$1.12$0.07$8.76$8.83$9.95$0.36$9.603.59%1.3830.00%0.2
1204807320.2199374023Luxottica Group S.p.A.
(BIT:LUX)BIT:LUXApparelItalyDeveloped EuropeEU &
Environs$28,355.00$1,718.35$2,204.30$3,922.65$32,277.65$1,
150.80$31,126.853.57%0.7024.00%0.63226616970.6556418703
Guangdong Wanlima Industry Co.,Ltd.
MarketsChina$261.30$0.00$41.90$41.90$303.20$10.80$292.40
3.56%2.5625.00%2.28455272932.3689342938Haria Apparels
MarketsIndia$0.32$0.00$0.81$0.81$1.13$0.04$1.093.55%-
0.7435.00%-0.2794110342-0.2896834987Zhejiang Unifull
Industrial Fibre Co., Ltd.
MarketsChina$788.50$0.00$628.40$628.40$1,416.90$50.20$1,3
66.703.54%0.7925.00%0.49195189710.5100216895Simtex
Industries Limited
(DSE:SIMTEX)DSE:SIMTEXApparelBangladeshEmerging
MarketsSmall
Asia$26.20$0.00$4.29$4.29$30.49$1.08$29.413.54%0.7825.00
%0.69398431960.7194689529Himatsingka Seide Limited
MarketsIndia$304.10$8.89$331.60$340.49$644.59$22.70$621.8
93.52%0.2435.00%0.13614708080.1411166692Sarla
Performance Fibers Limited
MarketsIndia$38.20$0.04$33.60$33.64$71.84$2.50$69.343.48%
0.9835.00%0.62471260220.6472354513Acelon Chemicals &
Fiber Corporation
Asia$37.10$0.61$44.20$44.81$81.91$2.85$79.063.48%1.0620.0
0%0.53860496360.5580201427Compañía Universal Textil S.A.
(BVL:UNITEXI1)BVL:UNITEXI1ApparelPeruEmerging

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