Apparels

Gold prices fluctuated before closing with a gain on Friday. The prices dipped following the release of strong US job data but recovered as US yields and the Dollar Index eased. The metal traded between $2614 and $2698 during the week. Key US, China, Germany, and UK economic data are awaited next week.

Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the Khadi Mahotsav 2025, emphasizing the global impact of the ‘One District One Product’ scheme and Khadi’s role in India’s self-reliance. The festival promotes local craftsmanship, generating over 3.5 lakh jobs, while boosting indigenous products over imports.

Gold trade bodies have suggested the government make the Gold Monetisation Scheme (GMS) more attractive in the upcoming budget by offering flexible tenures, higher interest rates, and tax-exemptions on up to 500 grams of ancestral gold deposits. The aim is to mobilise 22,000 tonnes of gold and reduce imports.

Cambodia’s footwear exports totalled $2,285.597 million in January-November 2024, marking a 6.72 per cent increase from 2023.
The US was the largest market, with shipments worth $745.813 million (32.63 per cent).
Exports to Japan were $221.537 million (9.69 per cent).
The country’s 2023 exports reached $2,315.606 million, following a recovery after COVID-related disruptions.

The China-Maldives FTA, effective January 2025, strengthens China’s market position, challenging Indian apparel exports.
While India leads in specialised categories like professional garments, China’s cost-effective offerings, geopolitical ties, and investments threaten India’s dominance.
Indian exporters must focus on value-added products and pricing to stay competitive.

Gold discounts in India increased as high local prices deterred buyers, while Lunar New Year festivities spurred gold purchases in other Asian countries. Indian jewellers offered up to a $17 discount per ounce. In China, discounts ranged from $2 to premiums of $9, driven by the festive season and market expectations.

Genesco Inc. has appointed Kyle Polischuk as Chief Human Resources Officer, effective 6 January 2025. Polischuk, with over 20 years of HR experience, will oversee talent management, leadership development, and employee engagement.
CEO Mimi Vaughn praised her strategic leadership and retail expertise, which will support Genesco’s growth and shareholder value.

Prada is eyeing a potential acquisition of Versace from Capri Holdings, with Citi as its adviser. Capri has enlisted Barclays to find potential buyers for Versace. Other fashion groups and private equity funds are also interested. This comes as Capri aims to refocus its efforts on Michael Kors after disappointing revenue figures.

Prada is eyeing a potential acquisition of Versace from Capri Holdings, with Citi as its adviser. Capri has enlisted Barclays to find potential buyers for Versace. Other fashion groups and private equity funds are also interested. This comes as Capri aims to refocus its efforts on Michael Kors after disappointing revenue figures.

Birkenstock, known for its orthopaedic-style footwear, saw its sales growth in India slow to ₹173 crore in 2023-24 from doubling every year previously. The company, which gained popularity during the pandemic, experienced a 46% growth amid a market shift towards casual and comfortable footwear. Birkenstock’s recent IPO raised $1.48 billion, highlighting its expanding global presence.