Apparels

India’s fast fashion industry is poised for intense competition, fueled by Reliance Retail’s recent collaboration with Chinese giant Shein. Following Zudio’s success and the lifting of Shein’s ban, Reliance aims to dominate the market. Strict regulations ensure local control while promoting domestic manufacturing and potential job creation.

Industry experts seek initiatives that can uplift the sector, elevate exports and position India as a global trading hub for diamonds and coloured gemstones.

Cascale, formerly the Sustainable Apparel Coalition, partners with FASHION LEAP FOR CLIMATE to accelerate science-based target adoption in fashion.
The collaboration offers an 8-week program to guide brands in measuring carbon footprints and setting targets.
This aligns with Cascale’s goal of 80% target adoption among members, driving meaningful climate action in the industry.

Carter’s, Inc. CEO Michael D. Casey retires after 30 years with the company. Richard F. Westenberger is interim CEO, while William J. Montgoris becomes Non-Executive Chairman.
Casey will advise until February 2025.
A search for a new CEO, focused on external candidates, is underway.
The Board praised Casey’s leadership in strengthening Carter’s market position.

Australia’s apparel and clothing accessories imports rose 6.65 per cent to $5.561 billion during July-November 2024.
Textile yarn and fabrics imports grew by 5.86 per cent, while fibre imports fell by 9.09 per cent.
November 2024 saw a 13.93 per cent increase in apparel imports.
However, textile fibre exports decreased by 9.97 per cent to $3.485 billion, with a 10.83 per cent drop in November.

Swiss watch brand Favre Leuba targets India as its primary market for a global relaunch, partnering with retailer Ethos. The brand aims to leverage its historical presence in India since 1865.

Projected to reach USD 130 billion by 2030, the Indian gem and jewellery market is set for rapid growth. GJEPC collaborates with De Beers for natural diamond promotion and signs an MoU with DHL for efficient e-commerce shipping. Plans for an export hub in Singur aim to boost local artisans and meet global demand.

Gold prices fluctuated before closing with a gain on Friday. The prices dipped following the release of strong US job data but recovered as US yields and the Dollar Index eased. The metal traded between $2614 and $2698 during the week. Key US, China, Germany, and UK economic data are awaited next week.

Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the Khadi Mahotsav 2025, emphasizing the global impact of the ‘One District One Product’ scheme and Khadi’s role in India’s self-reliance. The festival promotes local craftsmanship, generating over 3.5 lakh jobs, while boosting indigenous products over imports.

Gold trade bodies have suggested the government make the Gold Monetisation Scheme (GMS) more attractive in the upcoming budget by offering flexible tenures, higher interest rates, and tax-exemptions on up to 500 grams of ancestral gold deposits. The aim is to mobilise 22,000 tonnes of gold and reduce imports.