Apparels

Benetton Group has appointed Nikhil Upadhye as the new Managing Director for its India operations, succeeding Ramprasad Sridharan. Upadhye, a Sloan Fellow with over two decades of experience in the fashion industry, previously served as Commercial Director at Benetton India.

Galeries Lafayette is set to open its first Indian store in Mumbai’s historic Turner Morrison Building. This marks a significant entry into India’s growing luxury market. The Parisian department store is partnering with Aditya Birla Fashion and Retail Ltd for operations. A second store is planned for New Delhi.

LVMH shares saw their biggest gain in over two decades. This surge followed positive signs of demand in China. The luxury sector experienced a broad rally, adding billions to valuations. Investors are hopeful the industry is recovering from a slump. Sales figures surprised positively, suggesting continued momentum. This return to growth reassures investors.

Jewellers in Zaveri Bazar have halted new silver orders due to a severe physical shortage, despite a daily price drop. A significant premium on physical silver, driven by robust industrial and investment demand globally, has led to this situation. Experts anticipate a temporary price correction but foresee long-term appreciation.

France’s coat imports grew 18 per cent in volume during January–July 2025 to 43.89 million pieces, while value increased 7 per cent to $1.12 billion due to a 9.24 per cent fall in average price.
The decline reflects rising demand for lighter outerwear, retailer discounts, and increased sourcing from Asia.
China led with a 28.33 per cent share, followed by Italy and Bangladesh.

Target has launched a limited-edition collection with Woolrich, debuting October 18 in select stores and online.
Featuring over 100 redesigned classics across apparel, home, and outdoor gear, prices start at $2 with most under $40.
The Woolrich x Target line celebrates adventure-ready fashion and outdoor living, blending heritage style with modern functionality and affordability.

UK womenswear brand Sosandar plc has reported a 15 per cent rise in H1 FY26 revenue to £18.7 million (~$24.871 million), driven by a 28 per cent increase in own-site sales.
Despite a £1.1 million (~$1.46 million) pre-tax loss due to seasonal factors and the M&S cyber incident, the company maintained a 62.2 per cent margin and reaffirmed its FY26 outlook, citing strong liquidity and growth momentum.

US luxury watchmaker Fossil Group is reportedly exploring an Initial Public Offering (IPO) for its Indian subsidiary, aiming to raise between $300 million and $400 million. This move aligns with a surge of multinational firms listing their Indian operations to tap into robust investor demand. The company manages popular brands like Fossil and Skagen, alongside licensed names.

Indian ethnic wear brand Soch has expanded its global presence by opening three stores in Malaysia, marking its entry into Southeast Asia. This strategic move, following its Canadian debut, aims to establish Soch as a contemporary global brand. The company plans further expansion in Malaysia and is exploring opportunities in other international markets.

With silver prices soaring to unprecedented levels, a severe scarcity has emerged, directly affecting India’s silver jewellery exports. The Gem & Jewellery Export Promotion Council is convening with exporters and retailers to brainstorm solutions. Compounding this issue, global demand coupled with stricter US import regulations is leading to reduced supplies.