Apparels

Gold demand dipped in India this week due to fluctuating prices, causing potential buyers to postpone purchases. Dealers offered discounts as jewelers adopted a cautious approach. Meanwhile, higher gold rates in China might offset the anticipated seasonal demand increase ahead of the Chinese New Year.

“We’ve become far too promotional,” Hill said, speaking in lively, impassioned tones. “The level of markdowns not only impacts our brand but disrupts the overall marketplace and the profits of our partners.”

Skechers has opened a flagship store on Prague’s High Street Na Příkopě, offering footwear, apparel, and accessories for all ages.
The 596-square-meter space features signature comfort technologies, including Hands Free Slip-ins and Arch Fit, in a modern, eco-friendly design.
This expansion supports Skechers’ strong growth in Europe, with EMEA sales up 30 per cent in Q3 2024.

AAFA recently praised the inclusion of the renewal of the Haitian Hemispheric Opportunity through Partnership Encouragement programme and the Haiti Economic Lift Programme in the ‘Continuing Resolution’, a stopgap measure to keep the US government funded for the next three months.
It was, however, disappointed that the measure doesn’t include renewals of the AGOA and the GSP.

The UK CPI rose by 2.6 per cent in the 12 months to November, up from 2.3 per cent in the 12 months to October.
On a monthly basis, CPI rose by 0.1 per cent in November.
The clothing-footwear CPI rose by 2 per cent in the 12 months to November, up from 1 per cent in the 12 months to October.
On a monthly basis, the same rose by 0.6 per cent in the month; in November 2023, it fell by 0.3 per cent.

Nomura India Investment Fund bought a 3 crore stake in Vishal Mega Mart post-listing, which saw a 43.5% gain. Experts suggest conservative investors book profits, while long-term investors hold.

The growth also reflects the growing trust of global brands for Made-in-India products, especially considering the uptick in the festive season demand.

Rising gold prices in India have led many families to opt for lightweight, lower-carat jewellery. With gold prices up 22% in 2024, buyers are choosing 18-carat over traditional 22-carat gold to save costs. Advances in manufacturing allow for lighter, traditional designs. The share of 18-carat gold in sales has increased significantly, from 5-7% to over 15% in two years.

OVS SpA has reported net sales of €414.7 million (~$436.0 million) in Q3 of 2024, up 12.8 per cent YoY, with PBT at €24.1 million, up by 70.9 per cent YoY.
EBITDA rose to €46.2 million (+€11.1 million).
For 9M 2024, net sales hit €1,176.3 million (~$1,236.8 million), up 6.7 per cent YoY.
PBT in 9M period was €72.3 million up 20.4 per cent, and adjusted EBITDA reached €135.2 6million.

India’s gem and jewelry exports fell in November 2024. Global economic worries dampened demand for diamonds. Cut and polished diamond exports dropped sharply. Gold jewelry exports, however, surged. This rise was driven by record gold prices. The industry hopes for a revival in demand during the holiday season.