Apparels

The luxury industry, heavily reliant on its wealthiest clientele, is facing a potential crisis as rising prices deter consumers, particularly in China. To maintain exclusivity and value, brands must strategically adjust volumes and cater to a broader, yet still affluent, customer base by offering more accessible luxury items without compromising quality.

India’s gold market witnessed mixed trends. Jewellery demand slumped post-Diwali due to price volatility, while investment in gold bars and coins saw steady growth. Gold ETFs attracted strong inflows, boosted by market uncertainty, and the RBI continued its gold buying spree, adding significantly to its reserves.

The FTA approved by South Korea’s Parliament may boost apparel imports from the Philippines, which currently holds a negligible share.
In January-October 2024, South Korea imported $10.513 billion of apparel, with the Philippines contributing just 0.67 per cent ($70.114 million).
Fabric imports from the Philippines were similarly low.
The FTA may enable larger share for Philippines.

Bangladesh’s FY25 real GDP growth is projected to slow to 3.8 per cent due to output losses caused by the last uprising, floods and tighter policies, but is likely to rebound to 6.7 per cent in FY26 as policies relax, the IMF said.
FY25 inflation is likely to be around 11 per cent YoY (annual average) before falling to 5 per cent in FY26, backed by tighter policies and easing supply pressures.

Nike reported a decrease in Q2 FY25 revenues to $12.4 billion, a decline of 8 per cent from Q2 of the previous fiscal, with significant drops in both Nike Direct and wholesale revenues.
Its gross margin fell to 43.6 per cent due to higher discounts and a shifting channel mix, although mitigated by reduced costs.
Net income dropped 26 per cent to $1.2 billion, and earnings per share were down 24 per cent.

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.