Sportswear firms have reported 1-25% year-on-year increase for 2023-24, down from 35-85% increase for the previous financial year, according to the latest regulatory filings. While demand for fitness wear and sports equipment for disciplines other than cricket grew as people prioritised health with the onset of Covid-19, consumers cut back on discretionary spends across categories over the past six to eight quarters.

Bulgari, a renowned Italian luxury brand, is expanding its presence in India due to a decrease in demand in China. The company sees strong potential in India’s growing luxury market. Other global luxury brands are also considering India as a prime market due to its increasing affluent population and rising disposable incomes.

Gautam Adani highlighted the 14% decline in India’s gems and jewellery exports as a significant challenge indicating the need to rethink strategies. He emphasized the industry’s vast employment and economic impact, and discussed the transformative potential of lab-grown diamonds using advanced technologies, reflecting on his own entrepreneurial journey starting in Mumbai.

Two advisory firms, SES and IiAS, recommend shareholders vote against Gautam Singhania’s appointment as Raymond Lifestyle executive chairperson, citing concerns over his prior appointment approval, remuneration policies, and potential reputational risks. Singhania’s multiple roles, open-ended remuneration, and ongoing personal legal issues are key factors for their recommendation.

Brand Concepts Limited plans to expand its Bagline stores from 40 to 100 within two years and improve its digital presence. The company, a licensee of global brands including Tommy Hilfiger, Aeropostale and UCB, is exploring franchising opportunities and aims for 75 per cent domestic sourcing within two years. Despite a 51 per cent dip in net profit in Q2 FY25, strategic growth initiatives remain a focus.

Spanish clothing prices are projected to rise up to 5% by February 2025, driven by increased raw material, transport, and environmental compliance costs. Retail executives surveyed by ARTE, including representatives from Inditex, H&M, and Primark, anticipate an average 2.2% price hike during the holiday shopping season, mirroring last year’s trend.

Ireland-based budget fashion chain Primark has been criticised for its record on workers’ rights and the effect of its low-cost, high-volume model on the environment. In the world of low-cost fashion, Primark — a fixture on the high street in the UK, Ireland and beyond — is a one-off.

GJEPC has accepted the FTC’s updated definition and guidelines for diamonds, which aim to help consumers make informed choices. The guidelines provide a clear definition of diamonds, including lab-grown ones. GJEPC is urging the Indian government to adopt these definitions for consumer protection. They will educate the Indian trade to ensure compliance and enhance consumer confidence.

Uniqlo is under fire in China after its CEO, Tadashi Yanai, stated that the company does not source cotton from Xinjiang due to allegations of forced labour. Chinese social media users have called for a boycott, criticizing Yanai’s comment. China remains a crucial market for Fast Retailing, Uniqlo’s parent company, with over 900 stores in the country.

India’s gold demand in 2023 soared to 747 tonnes, dwarfing its 15.1-tonne production. Turkey and China also faced significant demand-supply gaps, highlighting the global appetite for gold. Sustainable metal production is crucial for environmental, economic, and social well-being, according to The Gold Bullion Company.