Apparels

Asian gold markets experienced muted demand this week due to record-high prices. China saw significant discounts as retail purchases slowed, while its central bank continued its gold-buying spree for the tenth month. In India, buyers hesitated despite the approaching festive season, anticipating a price correction.

Swiss watchmakers are creatively responding to US President Trump’s 39% tariff on Swiss goods. Swatch launched a limited-edition watch with a modified dial referencing the tariff, available only in Switzerland, while Raymond Weil released 39 watches of a special edition, already sold out, lowering the price by 39%.

Cantabil Retail India aims for Rs 1,000 crore revenue by FY27, fueled by store expansion in tier II and III cities, increased e-commerce contribution, and operational efficiencies. The company reported a 17% revenue increase in FY25, reaching Rs 721.1 crore, with a 20% rise in profit after tax.

Bestseller’s ONLY has partnered with RE&UP and Deniz to create garments using textile-to-textile recycled polyester and cotton from worn-out clothes and factory waste.
The project reduces virgin polyester usage while maintaining performance and durability, aligning with Bestseller’s focus on scalable, innovative recycling solutions for its popular NOOS and other collections.

Kering and Mayhoola have amended their shareholders’ agreement for Valentino, postponing Mayhoola’s put options to sell its remaining 70 per cent stake to Kering to 2028 and 2029, respectively.
Kering’s call option is also deferred to 2029.
The ownership structure will stay unchanged until at least 2028.
Both parties reaffirm commitment to Valentino’s long-term growth under CEO Riccardo Bellini.

India’s next-gen GST reforms have simplified taxation with a uniform 5 per cent rate and resolved the inverted duty structure.
However, garments priced above ₹2,500 now face 18 per cent GST, making premium apparel, artisan-made ethnic wear, and wedding attire costlier.
Industry bodies warn this will hurt affordability, promote grey market activity, and urge a review of price-based slabs for garments.

US textile and apparel exports fell 3.05 per cent to $13.01 billion in January–July 2025, OTEXA data showed.
Shipments to key markets like Mexico, Honduras, Canada, and China declined, while exports to the Netherlands, Japan, Belgium, and Guatemala grew.
Apparel drove the downturn with a 6.13 per cent fall, though fabrics held relatively steady.

Extradition proceedings against Mehul Choksi, wanted in the Punjab National Bank fraud case, are set to begin in a Belgian court next Monday. Choksi, who has been residing in Belgium since 2023, faces charges of criminal conspiracy, cheating, and falsification of accounts. India has provided assurances regarding prison conditions to facilitate his extradition.

Several prominent saree retailers from South India, including RSB Retail, Marri Retail, Pothys, and Nalli Silk Sarees, are preparing to launch IPOs in the next 6-8 months, aiming to raise approximately ₹20,000 crore.

Designer Brands Inc has reported net sales of $739.8 million in Q2 FY25, down 4.2 per cent YoY, with comparable sales declining 5 per cent.
Net income was $10.8 million, while adjusted EPS stood at $0.34.
US sales fell 4.8 per cent, Canada rose 0.4 per cent, and brand portfolio plunged 23.8 per cent.
Operating 668 stores, the company withheld its FY25 guidance.