Apparels

Morarjee Textiles, part of the Ashok Piramal Group, has received three takeover bids due to its ₹760 crore debt, headed by Indian Bank. The highest bid of ₹170 crore came from Nirmal Ujjwal Credit Co-operative Society. Due diligence is ongoing to ensure compliance with insolvency regulations.

Titan’s jewellery business grew by 26.62% in the December quarter despite a slight decline in net profit to Rs 1,047 crore. The company also saw strong performance in its watches and eyecare segments. Total expenses rose significantly, yet overall sales increased by 25.68%.

Shein India app, launched by Reliance Retail’s subsidiary Nextgen Fast Fashion, partners with Indian MSMEs to manufacture and sell products locally and globally. The platform, developed and hosted in India, ensures data localization and offers no access to Shein. This initiative aims to boost Indian MSME exports and create local jobs.

​After Diwali, weddings followed by Eid are the principal occasions for the garment sector that witnesses a substantial surge in business, but lacklustre enquiries for Eid this season have resulted in diminished production at most homegrown units.

The new venture, named Coluxe, has secured early-stage funding from investors and plans to launch digitally in mid-2025, with retail expansion to follow, according to a statement released on Tuesday. Adopting an omnichannel strategy, Coluxe will feature contemporary jewellery collections, such as solitaire rings, pendants, earrings, tennis bracelets, and necklaces, as well as themed collections focused on zodiac signs and gifting.

Canada and the US have agreed to delay tariffs on imported goods, with Canada reinforcing its border through a $1.3 billion plan, appointing a Fentanyl Czar, and launching a joint strike force.
The NCTO and US Chamber of Commerce welcomed the pause on 25 per cent tariffs, urging a permanent resolution.
The 30-day delay aims to address border security, organised crime, and trade stability.

The US has imposed a 25 per cent tariff on Canadian apparel, impacting exports of wool suits, jackets, and outerwear.
Canada holds a niche in premium wool garments but faces growing competition from Vietnam, Bangladesh, and China.
Italy, India, and China stand to gain from Canada’s reduced US market share.
The shift in trade policies may reshape sourcing strategies and global apparel trade.

Inditex has opened its first for&from store in Mexico, its 16th globally, promoting workplace inclusion for people with disabilities.
Managed by non-profits, these stores sell prior-season products at discounts, funding charitable projects.
The new Mexico City store, run by CONFE, employs nine people with disabilities.
The initiative has created 850+ jobs and raised over €8.5 million (~$8.71 million).

ASICS introduces the ‘Limited Series,’ blending Japanese Kabuki-inspired artistry with advanced athletic apparel technology.
Featuring bold designs and a symbolic colour palette, the collection includes singlets, jackets, and shorts with ACTIBREEZE technology for comfort and performance.
Designed by Ali Keys, it fuses tradition with innovation, celebrating ASICS’ heritage while embracing the future.

Reliance Retail has launched Shein’s Chinese fast fashion label in India through an independent app, following a test run on Ajio. Despite Shein’s origin and previous ban, government clearances have been obtained with agreements ensuring local manufacturing. The Indian fast fashion market is set to grow significantly, reaching $50 billion by FY31.