The Indian Garage Company (TIGC) has entered into offline retail with plans to establish 100 stores over two years. Adopting a COCO model initially, the firm will later expand through franchises. TIGC aims for profitability and sustainable growth, with future plans to enter international markets and diversify its product categories.

Vietnam’s leather and footwear industry is projected to earn $26-27 billion in export revenues this year, marking a $3-billion increase YoY, according to the Vietnam Leather, Footwear and Handbag Association.
North America led the export destinations, accounting for 41.4 per cent of footwear and 47 per cent of handbag exports, followed by the EU, with 29.5 per cent and 25.4 per cent respectively.

CITI has requested the government to introduce schemes to boost India’s textile and apparel exports to USD 100 billion by 2030, focusing on key markets like the USA and EU. Emphasizing strategic marketing, continuation of support schemes, and income-tax relief for MSMEs, CITI aims to enhance global competitiveness.

Jewelbox, a lab-grown diamond jewellery brand, plans to add 25 more stores by 2025, expanding its offline presence from the current 8 stores. The company aims to achieve Rs 150 crore in revenue by FY 2025-26. Jewelbox has seen significant growth in monthly revenue and is in talks to raise more funds to support its expansion.

Turkiye’s apparel exports to Africa fell to $403.931 million in January–October 2024, making up 2.96 per cent of its total exports of $13.665 billion.
Africa’s share has declined from 4.41 per cent in 2019, with intermittent recovery in 2021.
Export value also dropped from $708.064 million in 2019 to $614.361 million in 2023, highlighting a steady downward trend.

The Gem & Jewellery Export Promotion Council (GJEPC) is seeking government support to promote natural diamonds in international markets to protect jobs and exports. Chairman Vipul Shah has requested funding assistance and proposes the inclusion of Jewellery Parks in infrastructure lists. GJEPC is also focusing on creating an ecosystem for platinum and promoting tariff adjustments.

Limelight Diamonds has opened its first store in Chennai, its 23rd in India, as part of its expansion plan. The Mumbai-based lab-grown diamond brand aims to open seven more stores by year-end. The company notes a 15-20 per cent annual growth in the lab-grown diamond sector, driven by increased customer awareness and affordability.

Egypt is emerging as a key player in the African garment export market, achieving $2.27 billion in apparel exports during January–October 2024, a 17 per cent growth year-on-year.
The US, its largest market, imported $1.031 billion, accounting for 1.46 per cent of total US imports.
Egypt consistently ranks as the 16th-largest US supplier, maintaining steady market share growth over recent years.

The General Authority for the Suez Canal Economic Zone has signed a $8.8-million contract with Turkiye’s Denim Rise for a garments project.
The facility is scheduled to open in 2025 second half.
The project marks the fourth Turkish investment in the Qantara West industrial zone, which is also set to host facilities for garment accessories, textile printing and dyeing, and bags and travel goods.

Surat’s diamond units are moving into jewellery manufacturing as global demand for natural diamonds drops. Rising demand for gold jewellery in India and abroad is pushing this shift. About 10% of these units have added jewellery making to their operations. They aim to maintain traditional diamond activities while adapting to changing market needs.