Apparels

Diamond merchant Mehul Choksi, wanted in the $2-billion PNB fraud, has been arrested in Belgium following a request from Indian authorities. The CBI sought Choksi’s detention after he was located in the country, acting on open arrest warrants issued by a Mumbai court. Choksi, claiming medical issues, may seek bail, but Indian agencies will oppose it and pursue his extradition.

Gold prices surged past $3,200 on Friday, fueled by a weakening dollar and escalating U.S.-China trade tensions that heightened recession fears. Investors sought refuge in the precious metal, driving spot gold up nearly 2% to $3,235.89 an ounce.

Cambodia has steadily increased its share in Switzerland’s apparel imports, reaching 3.14 per cent in the first two months of 2025.
Starting from 2.09 per cent in 2019, its share rose to 3.11 per cent by 2024.
Key products include trousers, shorts, and jerseys.
Despite being the eighth-largest sourcing country, Cambodia’s apparel exports to Switzerland show consistent growth.

Swiss Military is aggressively expanding across product lines and geographies, fueled by a 22% annual growth rate and plans for an NSE listing. The company has opened a manufacturing facility in Faridabad, aligning with ‘Make in India’ initiative. It plans to open 130 exclusive brand outlets (EBOs), starting with 10 stores in Gujarat in FY26.

Two-time Masters champion Bernhard Langer has signed with Skechers and will wear the brand’s GO GOLF Blade shoes with Hands Free Slip-ins tech at Augusta.
Returning after Achilles rehab, the 67-year-old praised the comfort and support of the footwear.
With over 120 global victories, including a record 47 PGA Tour Champions wins, Langer brings decades of experience to his latest appearance at The Masters.

Prada has acquired Versace from Capri Holdings for $1.375 billion, uniting two major Italian fashion houses. This strategic move aims to strengthen Italy’s position in the global luxury market, dominated by French conglomerates. Prada intends to revitalize Versace, which has faced financial challenges, while Capri Holdings will streamline its portfolio after the sale.

Nigeria’s CTG industry experts have urged the government to curb $4 billion in annual apparel imports and focus on domestic production to drive industrial revival and job creation.
At a stakeholder meeting in Abuja, they stressed the sector’s potential, noting Bangladesh earns over $43 billion from garments.
Capturing 10 per cent of Bangladesh’s market could generate $3.3 billion in exports.

Star Fades International, Artistic Milliners Mexico, and The LYCRA Company have teamed up to launch LYCRA FitSense denim technology.
This innovation offers targeted shaping, comfort, and a customisable fit.
Production in Los Angeles and Mexico supports faster lead times and flexibility for brands, with commercial availability set for the SS26 season.

Bangladesh’s National Board of Revenue is reportedly planning to raise its corporate tax rate from 12 per cent now to up to 20 per cent from the next fiscal, with 18 per cent for green factories (from 10 per cent now).
This is likely to hit apparel exporters as the garment sector has long been enjoying tax benefits.
IMF pressure is said to be one of the reasons behind the proposal.

Virat Kohli concluded his Rs 110-crore deal with Puma. He invested in Agilitas, a homegrown sportswear startup. Abhishek Ganguly, former MD of Puma India, founded Agilitas. Kohli’s brand, One8, will be scaled under Agilitas. Kohli aims to build a global sportswear brand from India. Agilitas has raised over Rs 530 crore from investors.