Apparels

The NCLAT has overturned the Rs 55,000 penalty imposed on the lenders of Mudra Denim, citing no laxity in the delay of the insolvency process. The tribunal acknowledges valid reasons for the delay, thereby relieving the Committee of Creditors from the cost.

Tausif Riyaz, CEO of Platinum Hern, has been arrested in connection with the Torres Jewellery Rs 1,000 crore investment fraud. The investigation reveals that over a lakh investors were duped through Ponzi schemes, prompting criticism of police actions and calls for a Special Investigation Team.

Vietnam’s footwear and leather products export reached $27.04 billion in value in 2024—a YoY rise of 11.45 per cent, the Vietnam Leather, Footwear and Handbag Association said.
Export of footwear increased by 13.16 per cent YoY to $23.24 billion, while export of suitcases and bags stood at $3.8 billion—up by 9.7 per cent YoY.
The US was the biggest importer of Vietnamese footwear products.

In the year 2024, Japan’s clothing and accessories imports rose 3.5 per cent to $23.62 billion, while textile yarn and fabric imports fell 0.4 per cent to $7.45 billion.
Exports of yarn and fabric grew 6.9 per cent, but textile machinery exports dropped 17.7 per cent.
In fiscal 2023-24, clothing imports fell 1.7 per cent to $23.11 billion.

Despite economic challenges, the demand for premium products such as groceries, spirits, clothing, and shoes remains strong in cities. Companies like Hindustan Unilever and Diageo India report continued growth in the premium segment. Higher-income consumers are driving this trend, with spending on international vacations and weddings also reflecting resilience.

Vietnam and the Czech Republic aim to strengthen trade ties, with limited current collaboration in textiles.
Vietnam exported $27.979 million in apparel to the Czech Republic in 2023, while Czech exports to Vietnam were negligible.
Czech Republic, a strong EU market, imported $375.645 million in fabric and $556.855 million in home textiles in Jan-Oct 2024, highlighting trade potential.

DPIIT and Bhaane Group have signed an MoU to launch incubation programmes for manufacturing startups, fostering ties with international ecosystems.
Shahi Exports’ subsidiary will offer market insights and operational guidance.
The initiative aims to boost Indian manufacturing entrepreneurs.
CEO Anand Ahuja highlighted global interest in Indian startups, aligning with startup India’s mission.

Sri Lanka’s apparel exports grew by 5 per cent year on year (YoY) to $4.76 billion last year, according to provisional data released by the Joint Apparel Association Forum.
Such exports to the United States, the European Union (EU) and to the United Kingdom rose by 5.23 per cent YoY to $1.9 billion, 0.81 per cent YoY to $1.4 billion and 7.65 per cent YoY to $675 million respectively last year.

Adidas reintroduces the Adizero franchise with the lightweight Adizero ZG spikeless golf shoes, designed for stability, traction, and comfort while reducing foot fatigue.
Featuring LIGHTSTRIKE cushioning, SPIKEMORE outsole, a DYNAMIC TORSION plate, and a waterproof SPRINTSKIN upper, it’s available in laced and BOA models for men and women.

Puma has reported a currency-adjusted sales growth of 9.8 per cent in Q4 2024, reaching €2.3 billion (~$2.4 billion), with footwear up 9.2 per cent, apparel 8.8 per cent, and accessories 14.5 per cent.
Full-year sales grew 4.4 per cent to €8.9 billion (~$9.3 billion).
The company aims to launch the ‘next level’ efficiency programme to target an 8.5 per cent EBIT margin by 2027.