Apparels

Gold prices have soared to record highs, negatively impacting jewellery sales in India during the wedding season. Jewellers in India and China offer significant discounts to lure buyers, but demand remains weak due to high prices, affecting both markets significantly.

PN Gadgil Jewellers Q3 Results: P N Gadgil Jewellers reported a 49.4 per cent YoY profit growth in Q3 FY25, reaching ₹86 crore. Revenue rose 23.5 per cent to ₹2,435.7 crore, driven by strong retail, e-commerce, and franchise performance, alongside aggressive showroom expansion.

Wolverine Worldwide has named Brett Parent as chief strategy officer, effective February 3, 2025.
He will lead enterprise strategy, oversee Consumer Marketing, and drive global growth.
With nearly 20 years at the company, Parent played a key role in its turnaround.
CEO Chris Hufnagel praised his leadership, while Parent expressed excitement for advancing the company’s global potential.

Levi Strauss & Co. announced strategic leadership changes to accelerate its shift into a top-tier denim lifestyle retailer.
The company aims to enhance speed, reduce complexity, and foster innovation while prioritising consumer needs.
CEO Michelle Gass emphasised aligning structure with strategy to drive sustainable, profitable growth and solidify Levi’s position as an iconic lifestyle brand.

IndustriALL Global Union is signing agreements with brands sourcing from Cambodia to support collective bargaining for fair wages and improved working conditions in the garment industry.
The agreement promotes collaboration among brands, employers, and workers, ensuring responsible supply chains, better wages, and a functioning dispute resolution mechanism.

India has become the largest single market for Swiss watchmaker Rado, overtaking China amid a luxury bust in the latter. With robust growth in premium sectors, India is filling the gap left by China and attracting several global luxury brands to expand their footprint in the country.

Mehul Choksi, wanted in the PNB scam, claims to be in Belgium for cancer treatment. His lawyer argues against declaring him a fugitive economic offender, as he cannot travel due to his health. Choksi and his nephew Nirav Modi are accused of defrauding the bank of over ₹13,500 crore. The case will be heard again on February 27.

Global brands are turning to Indian garment manufacturers due to political unrest in Bangladesh. This shift has led to increased inquiries and export orders from the US and Europe. Though India excels in cotton garments, the focus is now on man-made fibre apparel to align with global demand, especially ahead of the Bharat Tex event in February.

Klutch Athletics, founded by Rich Paul and co-authored with New Balance, debuts its Spring 25 Collection this month at Shoe Palace in San Francisco.
The 14-piece lineup blends everyday staples with performance wear.
Rich emphasises community connection and inspiration.
Items include hoodies, tees, fleece pants, performance wear, woven jackets, and a Klutch Hat ’47 Hitch.

Sunil Kataria is stepping down as managing director of Raymond Lifestyle to pursue personal goals. The board has accepted his resignation and will seek a new CEO. Gautam Hari Singhania will lead the transition with the current senior management team. Kataria was praised for strengthening Raymond’s market presence and leadership. Kataria expressed gratitude for the opportunity.