Apparels

The Bangladesh Footwear Manufacturers’ Association has called for reinstating the 15-per cent value-added tax (VAT) exemption on low-cost rubber and plastic footwear priced at or below taka 150.
VAT exemption on this category of footwear had been in place since 2016, but was withdrawn.
The decision has led to a rise in production costs, reduced demand, factory closures and significant job losses.

PNGS Reva Diamond Jewellery, based in Pune, has submitted preliminary documents to Sebi to raise Rs 450 crore through an IPO, consisting entirely of a fresh issue of equity shares. The company intends to use the IPO proceeds to establish 15 new stores by fiscal year 2028 and for marketing initiatives.

India’s apparel exports saw a significant boost in May. The growth is attributed to Western buyers seeking alternatives to Bangladesh and China. Political factors and duty advantages are also playing a role. The industry anticipates continued export momentum. However, rising cotton imports are a growing concern. The US market presents a major opportunity for Indian exporters.

Bluestone is preparing for its public market debut. 360 One and Centrum Wealth are facilitating secondary deals. These deals amount to Rs 300–350 crore. The transaction values Bluestone at Rs 10,500 crore. RB Investments will fully exit Bluestone through these deals. Bluestone’s IPO includes a fresh capital raise. The company reported revenue of Rs 1,266 crore in fiscal 2024.

Xtep India, managed by Virisa Sports, is set to broaden its reach across retail and online platforms, aiming for a 24% revenue surge by 2026. With over 100 exclusive stores, the sportswear brand plans to double its outlets and venture into multi-brand stores. Emphasizing domestic manufacturing, Xtep is also investing in a new Odisha facility.

UK clothing exports declined by 14.12 per cent year on year to £231 million (~$313.30 million) in April 2025, reflecting weak demand, especially from Europe.
Monthly exports also fell nearly 8 per cent.
Textile fabric and fibre exports declined modestly and sharply, respectively.
For Q1 2025, clothing exports dropped to £712 million.
Full-year 2024 saw a decline in clothing exports to £3.32 billion.

The Iran-Israel conflict may pose a challenge to Bangladesh’s RMG sector by raising the cost of doing business, according to trade body BGMEA.
Other challenges include reciprocal US tariffs, India’s suspension of transshipment facilities for Bangladesh goods, high inflation, rising wages, elevated bank interest rates and soaring energy costs, BGMEA’s new president Mahmud Hasan Khan Babu noted.

Roots has reported Q1 FY25 sales of Ca$40 million (~$29.6 million), up 6.7 per cent YoY, with DTC sales rising 10.2 per cent to Ca$34.6 million (~$25.6 million).
The gross margin improved to 61.5 per cent, net loss narrowed to Ca$7.9 million (~$5.85 million) and inventory rose 14.5 per cent.
Executives cited strong brand momentum, and AI-led operational improvements driving continued growth.

India’s textile sector may gain a competitive edge in the global market due to rising labour costs in Vietnam and ongoing political instability in Bangladesh, two of its key export rivals, according to a report by Systematix Research.

Kering’s board, chaired by François-Henri Pinault, has appointed Luca de Meo as CEO, effective September 15, 2025, pending shareholder approval on September 9.
This marks a shift to a dual leadership model, with Pinault remaining chairman.
The move aims to strengthen governance and lead Kering into a new phase of growth, leveraging de Meo’s global experience and brand expertise.