Kering and Mayhoola have amended their shareholders’ agreement for Valentino, postponing Mayhoola’s put options to sell its remaining 70 per cent stake to Kering to 2028 and 2029, respectively.
Kering’s call option is also deferred to 2029.
The ownership structure will stay unchanged until at least 2028.
Both parties reaffirm commitment to Valentino’s long-term growth under CEO Riccardo Bellini.

India’s next-gen GST reforms have simplified taxation with a uniform 5 per cent rate and resolved the inverted duty structure.
However, garments priced above ₹2,500 now face 18 per cent GST, making premium apparel, artisan-made ethnic wear, and wedding attire costlier.
Industry bodies warn this will hurt affordability, promote grey market activity, and urge a review of price-based slabs for garments.

US textile and apparel exports fell 3.05 per cent to $13.01 billion in January–July 2025, OTEXA data showed.
Shipments to key markets like Mexico, Honduras, Canada, and China declined, while exports to the Netherlands, Japan, Belgium, and Guatemala grew.
Apparel drove the downturn with a 6.13 per cent fall, though fabrics held relatively steady.

Extradition proceedings against Mehul Choksi, wanted in the Punjab National Bank fraud case, are set to begin in a Belgian court next Monday. Choksi, who has been residing in Belgium since 2023, faces charges of criminal conspiracy, cheating, and falsification of accounts. India has provided assurances regarding prison conditions to facilitate his extradition.

Several prominent saree retailers from South India, including RSB Retail, Marri Retail, Pothys, and Nalli Silk Sarees, are preparing to launch IPOs in the next 6-8 months, aiming to raise approximately ₹20,000 crore.

Designer Brands Inc has reported net sales of $739.8 million in Q2 FY25, down 4.2 per cent YoY, with comparable sales declining 5 per cent.
Net income was $10.8 million, while adjusted EPS stood at $0.34.
US sales fell 4.8 per cent, Canada rose 0.4 per cent, and brand portfolio plunged 23.8 per cent.
Operating 668 stores, the company withheld its FY25 guidance.

ASOS has signed a legally-binding human rights due diligence (HRDD) agreement with the International Transport Workers’ Federation (ITF) to protect transport workers and strengthen supply chain sustainability.
The pact includes monitoring, remediation, gender equality, and climate action, extending ASOS’ human rights focus into logistics while setting new benchmarks for GNFR supply chain standards.

Associated British Foods anticipates a slight dip in Primark’s underlying sales for the second half, around 2%, due to weakened consumer demand in continental Europe offsetting gains in the UK, Ireland, and the US. The group’s shares fell as they cautioned about continued uncertainty in the consumer environment.

US President Trump confirmed ongoing trade negotiations with India, saying that they will be completed soon. Prime Minister Modi echoed optimism and said talks could unlock the full potential of the India-US partnership, boosting investor sentiment on the D-Street.

Following the US imposition of 50% tariffs, India is targeting 40 countries with a combined textile import market of $600 billion to boost its exports. The government is also leveraging free trade agreements with 15 nations. Despite challenges, India aims to compete globally, striving to increase its current 4% share of the $800 billion global textile market.