Apparels

OVS SpA has reported net sales of €414.7 million (~$436.0 million) in Q3 of 2024, up 12.8 per cent YoY, with PBT at €24.1 million, up by 70.9 per cent YoY.
EBITDA rose to €46.2 million (+€11.1 million).
For 9M 2024, net sales hit €1,176.3 million (~$1,236.8 million), up 6.7 per cent YoY.
PBT in 9M period was €72.3 million up 20.4 per cent, and adjusted EBITDA reached €135.2 6million.

India’s gem and jewelry exports fell in November 2024. Global economic worries dampened demand for diamonds. Cut and polished diamond exports dropped sharply. Gold jewelry exports, however, surged. This rise was driven by record gold prices. The industry hopes for a revival in demand during the holiday season.

In recent weeks, upscale French luxury department store Printemps announced it was teaming up with the world’s largest crypto exchange, Binance, and French financial tech company Lyzi to accept cryptocurrencies including bitcoin and ethereum in its stores in France – becoming the first European department store to do so. The move, coming as bitcoin rises, has been noticed by other brands and retailers who are showing interest in joining in.

Chinese fast-fashion giant Shein will return to India through a partnership with Reliance Retail, following a 2020 ban. Shein will act as a technology provider, while Reliance Retail controls operations and data, ensuring all information remains within India under strict security measures. This collaboration aims to boost local manufacturing and create jobs.

“The organised market is projected to record a healthy YoY expansion of 18-20 per cent in FY25. Planned store additions with focus on tier II and III cities, rising gold prices, shift in preferences towards branded jewellery and some likely pre-buying in the fourth quarter of FY25 on account of higher number of auspicious days in the first quarter of FY26 shall drive growth.

In October 2024, the UK’s clothing exports fell by 6.09 per cent year-on-year to £308 million (~$389.16 million), despite a monthly rise from £249 million.
Textile fabric exports grew by 3.82 per cent to £244 million.
Annual clothing exports for 2023 decreased to £3.772 billion from £3.931 billion in 2022.
Textile fabric and fibre exports also saw varied changes in the same period.

Taiwanese non-leather footwear manufacturer Hong Fu Industrial Group recently entered India by celebrating the ground breaking ceremony of a manufacturing facility at the SIPCOT Industrial Park in Panapakkam.
The Grand Atlantia unit is projected to generate employment for 25,000, with women comprising 85 per cent of the workforce.
It is likely to become operational by early January 2026.

Outlast temperature regulating shirts use microencapsulated wax to adapt to temperature changes, reducing heat peaks and sweat production by up to 24 per cent.
The technology keeps the wearer comfortable by preventing excessive heat buildup.
With the added effect of natural menthol in fresh2SKIN, these shirts offer enhanced cooling and improved comfort.

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.