The SFIO dropped charges against 60 individuals and entities, including Nirav Modi’s family and Punjab National Bank, in the Gitanjali Gems fraud case. Proceedings continue against Mehul Choksi and Nirav Modi. The NCLT lifted restrictions on the discharged parties’ assets. Gitanjali Gems is under liquidation with liabilities exceeding ₹12,558 crore.

Cambodia’s apparel exports soared by 25.85 per cent to $8.94 billion in the first eleven months of this year, accounting for over a third of the nation’s total foreign income.
Growth in both knitted and non-knitted garment exports reflects strong global demand, showcasing the sector’s resilience in the face of international economic pressures.

Bluestone, a jewellery retailer, has filed for an IPO, aiming for a valuation of ₹12,000-13,000 crore. The IPO will comprise ₹1,000 crore in new shares and ₹2,000-2,100 crore from existing investors. This represents a significant jump from its ₹8,100 crore valuation in August. Strong investor interest in the jewellery retail sector fuels this increase.

BlueStone Jewellery and Lifestyle has filed for an IPO to raise funds through a fresh issue and an offer for sale. The company plans to use the proceeds for working capital and expansion. BlueStone operates 203 stores across India and saw significant revenue growth in FY24.

Puma partners with Finnish innovator Spinnova to develop proof-of-concept products using wood-based Spinnova fibre for future Sportstyle collections.
Through a multi-year agreement with Spinnova’s Woodspin Oy, Puma secures fibre volumes, advancing sustainable material innovation.
This collaboration builds on Puma’s efforts, including its RE:FIBRE recycling programme, to promote eco-friendly textiles.

Hugo Boss has launched Eightyards, an independent corporation focused on recycling and reusing surplus materials, supporting the brand’s commitment to sustainable production.
Led by Marketa Miltenberger and Placido Klitzke, Eightyards begins operations in January 2025, aiming to become a key player in repurposing materials, such as fabrics, across industries beyond fashion.

Zalando agreed to acquire About You for €1.1 billion. The deal will create a large European e-commerce platform. Zalando will pay €6.50 per share, a premium over About You’s recent stock price. The deal is backed by About You’s board and major shareholder Otto. The combined company targets a 10-13% profit margin in the long term.

The brand, which started its journey in 1961 in Paris runs 140 standalone boutiques and has a presence across 1,000 point-of-sales spanning over 30 countries, offering 300 SKUs globally.

Readymade garment (RMG) industry workers in Bangladesh will receive a 9-per cent hike in wages, the country’s labour and employment adviser M Sakhawat Hussain announced yesterday.
The increment will be effective from December 1 this year and will reflect in January.
Hussain said the increment will be effective until the government or the Minimum Wage Board announces a new minimum wage.

The LYCRA Company has unveiled its legwear trend forecast for 2025-2026, inspired by four personas reflecting diverse consumer lifestyles.
The collection blends innovation, comfort, and sustainability, focusing on functionality and design that resonate with personal identity.
Collaborating with Stijlinstituut Amsterdam, LYCRA aims to redefine legwear with style and durability.