Apparels

India is contemplating significant hikes in GST on RMG, with proposed rates increasing up to 35 per cent for items above ₹10,000.
Industry leaders argue that such steep tax increases could devastate small retailers and the millions dependent on the garment sector.
The GST Council will make a final decision on these proposals during their meeting on December 21 in Jaisalmer, Rajasthan.

UK’s coat imports from China have steadily declined in value and volume over recent years, with the average price per unit dropping 11.92 per cent to $14.26 in Jan-Aug.
Inflation and geopolitical unrest have pressured exporters and reduced consumer purchasing power.
Total coat imports from the world fell, with the UK importing 10.685 million units at an average price of $15.37 per unit in 2024.

Reliance and Tata are once again competing in the Indian retail market, with Reliance Retail challenging Tata Group’s Zudio with its new brand, Yousta. Launched in August 2023, Yousta aims to tap into India’s rapidly growing value fashion segment, which is known for offering stylish and affordable apparel.

Sportswear firms have reported 1-25% year-on-year increase for 2023-24, down from 35-85% increase for the previous financial year, according to the latest regulatory filings. While demand for fitness wear and sports equipment for disciplines other than cricket grew as people prioritised health with the onset of Covid-19, consumers cut back on discretionary spends across categories over the past six to eight quarters.

Bulgari, a renowned Italian luxury brand, is expanding its presence in India due to a decrease in demand in China. The company sees strong potential in India’s growing luxury market. Other global luxury brands are also considering India as a prime market due to its increasing affluent population and rising disposable incomes.

Gautam Adani highlighted the 14% decline in India’s gems and jewellery exports as a significant challenge indicating the need to rethink strategies. He emphasized the industry’s vast employment and economic impact, and discussed the transformative potential of lab-grown diamonds using advanced technologies, reflecting on his own entrepreneurial journey starting in Mumbai.

Two advisory firms, SES and IiAS, recommend shareholders vote against Gautam Singhania’s appointment as Raymond Lifestyle executive chairperson, citing concerns over his prior appointment approval, remuneration policies, and potential reputational risks. Singhania’s multiple roles, open-ended remuneration, and ongoing personal legal issues are key factors for their recommendation.

Brand Concepts Limited plans to expand its Bagline stores from 40 to 100 within two years and improve its digital presence. The company, a licensee of global brands including Tommy Hilfiger, Aeropostale and UCB, is exploring franchising opportunities and aims for 75 per cent domestic sourcing within two years. Despite a 51 per cent dip in net profit in Q2 FY25, strategic growth initiatives remain a focus.

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.