90% of "Egyptian Cotton" sheets sold at Target, Walmart were fake; Welspun falls 20%

[enhanced_deficit]

Lot of peoples money down the drain who were tricked by this massive scam:


Target is offering customers refunds for more than $90 million in knockoff sheets

• Hayley Peterson

Aug. 22, 2016, 9:47 AM


Target is offering customers millions of dollars in refunds. Reuters

Target is offering customers millions of dollars in refunds after discovering that it sold fake Egyptian cotton sheets.
The sheets were manufactured by Welspun India, a global textile company that's a key supplier to many US retailers including Bed Bath & Beyond, Walmart, JCPenney, and Macy's, Bloomberg reports.
Welspun's shares have fallen 20% after the news.
The sheets were sold at Target for as much as $175 per set under the labels Fieldcrest and Crowning Touch.
Target recently pulled them from store shelves and its website, and now the company is offering a full refund to anyone who bought the sheets between August 2014 and July 2016.
To get the refund, customers must submit must complete and submit this form online. The refund will come in the form of a Target gift card.
Target is one of Welspun's biggest customers, accounting for $90 million in sales in the last fiscal year, according to Bloomberg. Target is now terminating its relationship with Welspun.

http://www.businessinsider.com/how-t...-sheets-2016-8

[angelatc]

Welspun's shares have fallen 20% after the news.

Not 100%? SMDH.

[oyarde]

Welspun is an Indian company , who the hell would go to target and spend 175 FRN's on some sheets made in a textile plant in Kutch ? LOL

[oyarde]

Not 100%? SMDH.

Well , I think they have other divisions , steel , metals , coatings , energy , pipes etc so maybe only 20 percent is in the fake Gypo sheets.

[oyarde]

You all should buy your commodities from me

[Chester Copperpot]

anytime i felt egyptian cotton it felt nasty... definitely prefer flannel

[KCIndy]

The sheets were sold at Target for as much as $175 per set under the labels Fieldcrest and Crowning Touch.

And apparently no one could tell the difference between those sheets and the $29 sets. Ha!! I find that amusing.

[Brian4Liberty]

How is Egyptian cotton different from US cotton or Indian cotton?

[Suzanimal]

How is Egyptian cotton different from US cotton or Indian cotton?

It's softer and finer, they feel almost like silk. I got a set of Egyptian cotton sheets for my wedding and thought they were nice sheets but I don't care as long as they're cotton or flannel.

[Danke]

You all should buy your commodities from me

How many beads for a pair of moccasins?

[oyarde]

How many beads for a pair of moccasins?

Very expensive. Nice though. Lots of hours in a pair of Mocs. What are you about a size 10 ? If I am paying shipping , probably around 100 FRN's for a basic pr

[luctor-et-emergo]

What is a more interesting question I think is, why is the remaining 10% real ?

[Danke]

Very expensive. Nice though. Lots of hours in a pair of Mocs. What are you about a size 10 ? If I am paying shipping , probably around 100 FRN's for a basic pr

I'll give you 100 beads and it will be a mixture with even turquoise ones.

[donnay]

anytime i felt egyptian cotton it felt nasty... definitely prefer flannel

I like nice crisp 100% organic cotton sheets.

[presence]

What is a more interesting question I think is, why is the remaining 10% real ?

..

DNA Testing Could Put an End to Fake Egyptian CottonBloomberg‎ - 22 hours ago

Scientists want to make sure your luxe sheets are actually worth the price tag.

Gossypium barbadense - Wikipedia, the free encyclopedia

https://en.wikipedia.org/wiki/Gossypium_barbadense


Wikipedia


Gossypium barbadense, also known as extra-long staple (ELS) cotton, is a species of cotton plant that has been cultivated to have extra-long staple fibers that are associated with high quality products. It is known by many common names, such as Egyptian cotton, Sea Island cotton, Creole cotton, or pima cotton.

[osan]

Not 100%? SMDH.

My precise reaction.

Pretty well shows you where the world's head is these days. HELLLLOOOOOOOOOOO Mister Colon!

[puppetmaster]

I like nice crisp 100% organic cotton sheets.

i use cardboard...pure American made wood fiber cardboard.

[oyarde]

How is Egyptian cotton different from US cotton or Indian cotton?

I prefer american , in the woods in winter ,everyone is better off with wool though ,cotton is bad when wet.

[oyarde]

I'll give you 100 beads and it will be a mixture with even turquoise ones.

I will take the beads along with the FRN's , nice of you to offer .

[phill4paul]

I will take the beads along with the FRN's , nice of you to offer .

Maybe he's asking how much to bead the moccasins if he provides the beads? I could see how Danke would dig sporting that kinda bling.