Apparels

Spanish clothing prices are projected to rise up to 5% by February 2025, driven by increased raw material, transport, and environmental compliance costs. Retail executives surveyed by ARTE, including representatives from Inditex, H&M, and Primark, anticipate an average 2.2% price hike during the holiday shopping season, mirroring last year’s trend.

Ireland-based budget fashion chain Primark has been criticised for its record on workers’ rights and the effect of its low-cost, high-volume model on the environment. In the world of low-cost fashion, Primark — a fixture on the high street in the UK, Ireland and beyond — is a one-off.

GJEPC has accepted the FTC’s updated definition and guidelines for diamonds, which aim to help consumers make informed choices. The guidelines provide a clear definition of diamonds, including lab-grown ones. GJEPC is urging the Indian government to adopt these definitions for consumer protection. They will educate the Indian trade to ensure compliance and enhance consumer confidence.

Uniqlo is under fire in China after its CEO, Tadashi Yanai, stated that the company does not source cotton from Xinjiang due to allegations of forced labour. Chinese social media users have called for a boycott, criticizing Yanai’s comment. China remains a crucial market for Fast Retailing, Uniqlo’s parent company, with over 900 stores in the country.

India’s gold demand in 2023 soared to 747 tonnes, dwarfing its 15.1-tonne production. Turkey and China also faced significant demand-supply gaps, highlighting the global appetite for gold. Sustainable metal production is crucial for environmental, economic, and social well-being, according to The Gold Bullion Company.

South Korea’s apparel imports rose by 13.11 per cent year-on-year to $1.34 billion in October 2024, despite a 3.67 per cent dip from September.
January-October imports totalled $10.52 billion, led by Chapter 62 items.
Exports of man-made filaments and knitted fabrics also increased slightly year-on-year.
In 2023, apparel imports were $11.99 billion, while Chapter 54 exports hit $2.11 billion.

Cambodia remained Canada’s fourth-largest apparel supplier in 2023, with imports reaching $802.827 million in the first three quarters, representing 9.75 per cent of Canada’s $8.232 billion total.
Cambodia’s share rose slightly compared to previous years, partially regaining lost ground.
Despite overall growth in Canadian apparel imports, Cambodia’s share had peaked at 10.84 per cent in 2021.

The India-UK FTA promises to not only reshape trade dynamics between the two countries but also impact other major textile exporters.
If UK reduces tariffs on Indian textiles, it will likely result in significant trade diversions.
Key textile-exporting nations could experience declining exports in specific product categories due to increased competition from India in the UK market.

Abercrombie & Fitch Co has reported net sales of $1.2 billion in Q3 FY24, up 14 per cent YoY, with 16 per cent comparable sales.
Net income rose to $132 million, or $2.50 EPS. For 9M FY24, net sales grew 19 per cent YoY to $3.36 billion, with net income of $379 million. Full-year FY24 sales growth is now expected at 14-15 per cent, with Q4 sales forecast at 5-7 per cent growth.

PUMA has signed a long-term deal with the Portuguese Football Federation (FPF), starting in 2025, to equip all teams, including futsal, beach football, and e-sports.
Portugal, known for their dynamic play, has the largest social media following among national federations.
The partnership aims to engage fans and continue Portuguese football’s legacy, with new products launching in 2025.