Apparels

India’s Tamil Nadu state’s Industrial Guidance and Export Promotion Bureau recently signed an MoU with Evervan Kothari Footwear Limited to set up non-leather footwear manufacturing projects in Karur and Perambalur districts with an investment of $572.17 million.
The company is a subsidiary of the Phoenix Kothari Group.
The project is expected to generate 50,000 jobs.

To enhance gem and jewellery exports, India has signed MoUs with Thailand’s jewellery trade, targeting 15 per cent of Thailand’s total import. India’s exports saw a 12.11 per cent decline in the first ten months of FY25. The MoUs aim to harmonize gemstone standards, boost trade in coloured gemstones, and foster innovation in silver jewellery.

The 110-year-old property at Flora Fountain was previously leased to Spanish retailer Zara that shut the store earlier this month after nearly eight years of operations.

Gold demand in India saw a slight improvement towards the week’s end as prices fell from record highs, yet remained below normal levels. Discounts in China persisted due to low activity, and India’s imports are predicted to drop significantly by 85 per cent in February. Meanwhile, gold trades in Singapore, Hong Kong, and Japan show varying premiums and discounts.

PDS, a global fashion solutions company, has been certified as a Great Place to Work by GPTW and awarded the WOW Workplace Award by Jombay.
This recognition highlights PDS’ commitment to a ‘People-first’ culture that values inclusivity, collaboration, and growth.
Leadership applauds employees’ contributions and remains dedicated to fostering an empowering and inspiring workplace.

Nirav Modi, imprisoned in London and awaiting potential asylum, recently appeared in court via video link regarding a USD 8 million bank loan dispute. The UK court has adjourned his application, pending his appeal for access to a working laptop to prepare his defense.

Tata-owned Trent remains unperturbed by growing competition in retail, with no plans to alter its strategy. Trent’s MD P Venkatesalu emphasizes focusing on consumer needs amid intense competition, including the re-entry of Shein via Reliance Retail. Despite demand fluctuations, Trent continues its robust expansion with Zudio, aiming for significant market growth in the future.

Despite Bangladesh’s RMG exports to the EU growing by 4.86 per cent YoY to $19.77 billion last year, exporters observed unit prices declining as the growth in volume outpaced the rise in value.
The per-unit price fell to $16.07 per kg in 2024 from $16.88 per kg in the previous year—a sharp 5-per cent drop.
Turkiye, India, China, Vietnam and Cambodia also saw declines in unit prices.

In 2024, US apparel imports from Bangladesh rose by 2.15 per cent to $7.404 billion, despite political turmoil in August.
Imports surged 27.7 per cent year-on-year in Q4, reaching $1.940 billion.
The US imported 164.112 million dozen of garments at an average price of $45 per unit.
While trade saw quarterly fluctuations, annual growth remained steady, indicating resilience.

Rocky Brands, Inc, has reported FY24 net sales of $453.8 million, down 1.7 per cent YoY, though adjusted sales grew 5.3 per cent.
Gross margin improved to 39.4 per cent, while income from operations fell to $31.1 million.
Net income rose to $11.4 million, or $1.52 per diluted share.
Retail sales surged, and Q4 saw strong momentum, driven by increased marketing and demand for Durango and XTRATUF brands.