Apparels

Under Armour has appointed Dawn N Fitzpatrick, Eugene D Smith, and Robert J Sweeney to its board of directors, effective April 15.
Chair Mohamed A El-Erian praised their financial, operational, and sports management expertise.
The updated board now comprises 12 members as the company continues to execute its value-driven growth strategy.

Forever 21’s unsecured creditors, including suppliers and vendors, are facing significant losses under the retailer’s restructuring plan, potentially recovering only 3-6 per cent of their USD 433 million in claims. The creditors’ committee is investigating JCPenney’s acquisition of Forever 21’s parent company, SPARC Group, alleging it prioritized JCPenney’s debt repayment.

Kolkata-based lab-grown diamond jewellery brand Jewelbox plans to use the funds to expand its retail footprint across India, strengthen brand visibility, and hire talent across key functions, cofounder Vidita Kochar Jain, told ET.

Gold prices hit a record high on Wednesday. This surge happened because of a weaker dollar and trade war worries. Concerns about global economic growth also played a role. Investors are now waiting for U.S. retail sales data. This data will provide insights into the economy. ANZ has raised its gold price forecast for the year end.

LVMH, whose high-end brands include Louis Vuitton and Dior, jewellery brand Tiffany & Co. and beauty chain Sephora, missed expectations for first-quarter sales as U.S. shoppers curbed purchases of beauty products and cognac while sales in China remained weak.

Bangladesh’s RMG exports rose by 10.84 per cent to $30.25 billion during July 2024–March 2025, driven by growth in both knitwear and woven garments.
Home textile exports grew 4.94 per cent, while cotton product exports rose 8.70 per cent.
March alone saw RMG exports climb 12.40 per cent year-on-year.
However, cotton exports fell in March.
Revised figures show RMG exports declined in fiscal 2023–24.

Azadea Group, the operator of Zara and Virgin Megastore chains in the Middle East, has postponed its IPO plans to concentrate on business operations, unrelated to market volatility caused by US tariffs. The retailer is considering expanding into new Middle Eastern markets and strengthening its presence in existing ones before proceeding with the public offering.

India’s gem and jewellery exports faced an 11.72% decline in 2024-25, totaling USD 28.5 billion, impacted by global headwinds and competition. While overall imports also decreased, prices are stabilizing, and a surge in exports occurred before new US tariffs. Studded gold and platinum jewellery exports showed positive growth, contrasting with declines in other sectors like silver and lab-grown diamonds.

The Enforcement Directorate is pursuing the confiscation of Mehul Choksi’s foreign assets across 10 countries following his arrest in Belgium on India’s request. Letters rogatory have been dispatched to nations including Hong Kong, the US, and the UAE, seeking details on Choksi’s companies and assets.

Shein’s partnership with Reliance Retail to establish India as a global manufacturing hub faces challenges as China discourages companies from shifting production overseas due to US tariffs. The original agreement, including integrating Indian MSMEs into Shein’s supply chain, is being renegotiated and may be scaled down.