The China-Maldives FTA, effective January 2025, strengthens China’s market position, challenging Indian apparel exports.
While India leads in specialised categories like professional garments, China’s cost-effective offerings, geopolitical ties, and investments threaten India’s dominance.
Indian exporters must focus on value-added products and pricing to stay competitive.

Gold discounts in India increased as high local prices deterred buyers, while Lunar New Year festivities spurred gold purchases in other Asian countries. Indian jewellers offered up to a $17 discount per ounce. In China, discounts ranged from $2 to premiums of $9, driven by the festive season and market expectations.

Genesco Inc. has appointed Kyle Polischuk as Chief Human Resources Officer, effective 6 January 2025. Polischuk, with over 20 years of HR experience, will oversee talent management, leadership development, and employee engagement.
CEO Mimi Vaughn praised her strategic leadership and retail expertise, which will support Genesco’s growth and shareholder value.

Prada is eyeing a potential acquisition of Versace from Capri Holdings, with Citi as its adviser. Capri has enlisted Barclays to find potential buyers for Versace. Other fashion groups and private equity funds are also interested. This comes as Capri aims to refocus its efforts on Michael Kors after disappointing revenue figures.

Prada is eyeing a potential acquisition of Versace from Capri Holdings, with Citi as its adviser. Capri has enlisted Barclays to find potential buyers for Versace. Other fashion groups and private equity funds are also interested. This comes as Capri aims to refocus its efforts on Michael Kors after disappointing revenue figures.

Birkenstock, known for its orthopaedic-style footwear, saw its sales growth in India slow to ₹173 crore in 2023-24 from doubling every year previously. The company, which gained popularity during the pandemic, experienced a 46% growth amid a market shift towards casual and comfortable footwear. Birkenstock’s recent IPO raised $1.48 billion, highlighting its expanding global presence.

“Sales records were broken across the business, with Food recording its biggest day and Clothing, Home & Beauty online its biggest week, but we’re not complacent – as a growth business it’s our job to break records,” Chief Executive Stuart Machin said.

Cambodia’s apparel exports to ASEAN rose 4.23 per cent in January-October 2024, reaching $190.76 million compared to $183.01 million in the same period of 2023.
The average export price increased to $11.41 per unit, marking the third consecutive yearly rise.
Cambodia exported 15.316 million units in 2024’s first 10 months, down from 19.787 million units in 2023, as per TexPro data.

Senco Gold reports a 22% growth in revenue for Q3 FY25, with record sales in October 2024. Despite rising gold prices, demand remains strong due to reduced customs duty. The company is expanding its showroom portfolio and raised Rs 459 crore through QIP. Senco Gold has plans to open 18-20 new showrooms in Q4 FY25.

Oban Fashions Pvt Ltd, a subsidiary of Rupa & Co Ltd, has been admitted under the Corporate Insolvency Resolution Process by the Mumbai bankruptcy court, following an application by its operational creditor, Sunrise Knitting Mills Pvt Ltd. The National Company Law Tribunal appointed Sanjay Ramdas Mahajan as the Interim Resolution Professional, with outstanding dues amounting to Rs 1.57 crore.