Apparels

In October 2024, the UK saw a rise in clothing imports to £1.595 billion (~$2.015 billion), a 6.90 per cent increase year-on-year, while textile fabric imports slightly grew.
Over the third quarter, clothing imports fell by 10.21 per cent compared to the previous year.
Overall, 2023 marked a significant downturn with a 25.94 per cent decline in clothing imports from 2022.

G-III Apparel has reported Q3 FY25 net sales of $1.09 billion, up 1.8 per cent YoY, with net income of $114.8 million ($2.55 EPS).
Nine-month sales rose slightly to $2.34 billion YoY, with net income of $144.8 million.
FY25 guidance was raised, expecting 2 per cent sales growth to $3.15 billion and EPS of $4.08-$4.18.
Inventories fell 10 per cent, and debt dropped 52 per cent.

ASOS, BOOZT, and Selfridges join FASHION LEAP FOR CLIMATE, a programme by ABOUT YOU, YOOX NET-A-PORTER, and Zalando, aimed at helping fashion brands measure carbon footprints and set science-based targets.
Cascale joins as a partner, adding 25 participants.
The initiative offers an 8-week course, tools, and expert support, fostering collaboration and decarbonisation across the fashion industry.

EU Council has adopted a regulation aimed at reducing packaging waste, setting ambitious re-use and recycling benchmarks, including a requirement for single-use plastic bottles to contain up to 65 per cent recycled material by 2040.
This comprehensive regulation targets the lifecycle of packaging, reducing volume and harmful substances, and enhancing consumer awareness through detailed labelling.

India’s luxury market is experiencing rapid growth, attracting global brands seeking new opportunities beyond China. Rising wealth, increased disposable incomes, and a growing appetite for premium goods are fueling this expansion. Brands are adopting online strategies and tailoring offerings to Indian preferences, anticipating India to become a major player in the global luxury landscape.

Vince Holding Corp has reported net sales of $80.2 million in Q3 FY24, down 4.7 per cent YoY, with gross profit improving to 50.0 per cent of net sales.
SG&A expenses were $34.3 million, and income from operations rose to $5.8 million.
Nine-month sales were $213.5 million, with net income of $9.3 million.
FY24 sales are expected to decline slightly.

Isak Andic, the founder of Spanish clothing retailer Mango, one of Europe’s largest fashion groups, with nearly 2,800 stores worldwide, died Saturday in an accident, the company said. “It is with deep regret that we announce the unexpected death of Isak Andic, our non-executive chairman and founder of Mango,” the Barcelona-based company’s CEO, Toni Ruiz, said in a statement.

The Netherlands-based G-Star partnered Genesis Luxury to enter India a decade ago and came into Reliance’s fold after it bought Genesis in 2017. Reliance Brands also bagged exclusive distribution rights for Replay, owned by Fashion Box, in 2018, adding to its extensive denim portfolio, which includes brands such as Gas, Diesel, Armani and Superdry.

Cambodia’s garment, footwear, and travel (GFT) goods exports surged 25.23 per cent year-on-year in January-November 2024 to $12.51 billion, comprising 52.3 per cent of total export earnings, as per GDCE data.
Key categories like knitted and non-knitted apparel, footwear, and travel goods saw robust growth.
Employing nearly one million people, the GFT sector remains vital to Cambodia’s economy.

India and Norway are expanding their economic ties, with recent discussions on cross-sector growth at a ministerial meeting in Mumbai.
Although India remains a key textile supplier, its share in Norway’s imports has diminished slightly compared to last year.
The country stands as the fifth-largest supplier of apparel and the second-largest in home textiles to Norway.