Apparels

Forever 21, operated by F21 OpCo in the U.S., is preparing to close at least 200 more stores and may initiate a Chapter 11 bankruptcy process next month. If no buyer is found, it might liquidate its remaining 350 stores. Catalyst Brands, which owns F21 OpCo, also operates SPARC Group’s brands like Aeropostale and Lucky Brand.

Fenix Outdoor’s 2024 net sales fell to €685.6 million (~$716.9 million) from €739.4 million in 2023, with profit margin dropping to 5.5 per cent.
Net profit plummeted to €14.7 million from €32 million.
EBITDA and operating profit also declined.
North America and Korea faced challenges, while China’s JV performed well.
Q4 net sales dipped 3.1 per cent, but operating profit improved.

Domestic cotton prices in India remain higher than international prices, but demand for the Indian textile sector is improving. Indian textile companies have shown healthy growth, aided by stable cotton prices and favorable forex rates. Government initiatives and customs duty hikes on fabric imports are expected to benefit the sector. However, capacity constraints in garment manufacturing pose challenges.

Jewellers in India have reported significant growth in demand for diamond-studded jewellery during Valentine’s Day, with a 35% increase compared to last year. Items priced between Rs 20,000-50,000 were highly popular, especially among young couples. The use of 14 karat gold instead of 18 karat has made diamond jewellery more affordable, contributing to the surge in sales.

Wacoal Holdings forecasts ¥181,000 million (~$1.2 billion) revenue and ¥4,500 million (~$29.7 million) profit for FY25.
The company has reported ¥133,534 million (~$880.75 million) revenue for the first nine months of FY2024-25, a 5.6 per cent YoY decline.
Business profit fell 70.9 per cent to ¥1,443 million, but operating profit rebounded to ¥11,075 million.

GJEPC has appointed Kirit Bhansali as chairman and Shaunak Parikh as vice chairman, aiming to drive transformative growth in India’s gem and jewellery industry. Bhansali emphasized initiatives like the India Jewellery Park, Gem Bourse, and global expansions while setting an ambitious export target of USD 100 billion by 2047.

Titan Co is in discussions with Qatar’s Mannai Corp to acquire a stake in Damas Jewellery, estimated at ₹4,500 crore. The acquisition would boost Titan’s presence in the GCC region. Previous talks failed due to valuation disputes, but renewed negotiations indicate strong interest from Titan.

Marks & Spencer has revamped its international management team with three new senior appointments. Manish Kapoor has been named managing director for M&S India, Victoria Jones as commercial director, and Richard Davies as international partnerships director. Kapoor is tasked with advancing M&S India’s strategic plans as the retailer seeks sustainable growth and aims to attract younger shoppers.

Danish premium footwear brand Ecco is expanding its presence in India, targeting to open 25 exclusive stores by 2026, focusing on top malls and high streets in metro cities. The brand’s success is attributed to rising demand for premium footwear priced between Rs 15,000-25,000.

Ranbir Kapoor has launched ARKS, a lifestyle brand offering a curated wardrobe of premium essentials. The collection includes stylish and functional apparel, accessories, and sneakers for men and women. Designed with minimalist aesthetics and high-quality materials, ARKS aims to cater to individuals seeking understated luxury and timeless style inspired by Kapoor’s diverse interests.