Apparels

Argos Watches, an Indian watch brand, secured Rs 6.5 crore in angel funding at a Rs 45 crore valuation. The brand aims to double its FY 2024-25 revenue of Rs 25.64 crore by meeting rising demand for premium mechanical watches. The funds will support product development, brand awareness, and digital expansion, including the launch of the Olympus watch.

In 2024, Bangladesh’s apparel exports to the EU rose by 4.72 per cent to $18.891 billion, with trousers and shorts accounting for over 30 per cent of shipments.
Cotton garments dominated, making up 70.29 per cent of total exports.
Unisex clothing led gender-wise exports.
Europe remained the top market, though its share declined from 62.84 per cent in 2019 to 56.95 per cent in 2024.

Jain Amar has appointed Akhil Jain as its new MD and CEO. Jain, with over two decades of experience, will lead the company’s transformation. The goals include growth across physical and digital channels, fostering a unified organisational voice, and integrating technological advancements. Jain Amar aims to become IPO-ready by 2027.

The US’ new reciprocal tariffs end duty-free access for key Latin American apparel exporters under CAFTA-DR, imposing 10–19 per cent duties.
Nicaragua faces the steepest hike at 19 per cent.
Haiti’s rate jumps to 22.36 per cent, straining its garment sector.
These changes raise costs, reduce competitiveness, and may shift US sourcing strategies.

The US’s new tariffs—10 per cent universal and higher country-specific rates—mark a major policy shift, undermining the African Growth and Opportunity Act (AGOA) benefits.
Key African exporters like Madagascar, Lesotho, and Tunisia face severe cost hikes, risking reduced competitiveness, job losses, and trade volume drops, while prompting US buyers to diversify sourcing.

The US’ sharp tariff hike on apparel imports—up to 570 per cent for top Asian exporters—signals a major trade policy shift.
China, Vietnam, and Bangladesh are hit hardest, prompting US importers to explore new sourcing hubs.
With Mexico spared, nearshoring may rise, while the shake-up challenges global supply chains and sourcing strategies.

Bangladeshi textile industry leaders said Thursday that US tariffs posed a “massive blow” to the world’s second-largest garment manufacturer, which accounts for some 80 percent of the South Asian nation’s exports. “Buyers will go to other cost-competitive markets — this is going to be a massive blow for our industry,” said Rakibul Alam Chowdhury, chairman of RDM Group, a major manufacturer with an estimated USD 25 million turnover.

India’s USD 32 billion gems and jewellery industry faces a sharp decline in exports due to new U.S. tariffs, impacting its position as the global leader. The tariffs, higher than expected, threaten to reduce the industry’s exports to its largest market, the United States, which accounts for 30.4 per cent of annual exports.

AAFA has criticised White House’s ‘Liberation Day’ tariff hike, warning it will raise costs for US companies and consumers.
CEO Lamar called the move regressive and inflationary, noting tariffs on apparel were already disproportionately high.
He warned the new policy will disrupt supply chains, harm US manufacturers reliant on foreign inputs and invite retaliatory tariffs that threaten US exports.

Effective May 2, 2025, the US will revoke duty-free de minimis treatment for low-value imports from China and Hong Kong, citing the synthetic opioid crisis.
Goods under $800 will now face duties—30 per cent or $25 per item, rising to $50 from June 1.
The move seeks to curb illicit flows and address trade asymmetry, as China offers no comparable exemptions.