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Swiss watchmakers halt US shipments awaiting lower tariffs

Zurich, Switzerland – Swiss watch exports to the US plummeted again in November, as manufacturers delayed shipments in anticipation of a tariff reduction to 15 percent. According to data from the watchmaking federation published on Thursday, exports to the US fell by 52.3 percent in November. This follows declines of 46.8 percent in October,...

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Etro: founding family exits as Rams Global, Swinger International and Sri Group invest

Following recent speculation, an official statement has been released: the Etro family is exiting the company. A consortium of industrial investors, comprising the Turkish company Rams Global, Mathias Facchini of Swinger International, and the banker Giulio Gallazzi via Sri Group, has acquired the minority stake previously held by the Etro...

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Safilo acquires 25 percent stake in Inspecs for 21.7 million pounds

Safilo has announced its acquisition of shares in Inspecs Group. Between December 15 and 18, the company purchased a total of 25 percent of Inspecs' share capital for approximately 21.7 million pounds. In a statement, the management explained that this shareholding “reflects Safilo’s confidence in the long-term prospects of Inspecs, offering the...

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Kering gets green light for phased acquisition of Raselli Franco Group

The French luxury giant is heading to Valenza, a town in the Piedmont region's province of Alessandria. The area is home to the most important production units for international high jewellery. Kering is acquiring Raselli Franco Group, one of Europe's largest independent producers of luxury jewellery. This marks the first acquisition since the...

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South Asian textiles: End of a competitive advantage? A critical review of the French Treasury's quarterly letter

The quarterly letter published by the French Treasury offers a detailed diagnosis. The textile and apparel industry remains the industrial and social core of the economies of Bangladesh, India, Pakistan and Sri Lanka. As a pillar of exports, a mass employer and a key driver of female employment, the sector has long relied on a simple competitive...

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Strong final quarter: Birkenstock exceeds its revenue targets for the 2024/25 financial year

German footwear provider Birkenstock has continued its growth trajectory in the 2024/25 financial year, as expected. Revenue even exceeded the forecasts, which were raised at the end of September. This was revealed in a recent business report published on Thursday by its parent company, Birkenstock Holding plc, which is listed on the New York...

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Etro: Founding family reportedly set to exit; Rams Global among new shareholders

A shareholder restructuring is on the horizon for Etro. According to the newspaper Mff, the founding family is reportedly preparing to sell its stake to new investors. Gefin is therefore set to exit, with plans to sell its stake to Turkish group Rams Global. L Catterton will reduce its holding to 51 percent, whilst a consortium including Mathias...

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Making structure effective: AI as a cost lever in the fashion industry

However high the cost pressure may be, compromising on quality is not an option in the fashion industry. A reliable planning rhythm, a robust data foundation and practical AI building blocks reduce friction costs along the fashion value chain. Thoughtful governance is key during implementation to ensure that savings potential is realised in...

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Eterna files for self-administration proceedings

Eterna Mode GmbH has filed for insolvency under self-administration at Passau District Court. The aim of the proceedings is to implement the final milestone in the transformation of the Passau-based shirt and blouse specialist. This includes the complete outsourcing of logistics as well as the sale and leaseback of the company premises, Eterna...

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Kering monetises Fifth Avenue asset through Ardian partnership

Luxury group Kering and investment firm Ardian have announced the completion of a co-investment agreement, formalised through the creation of a joint venture centred on a real estate asset on Fifth Avenue in New York. The building, located at 715-717 Fifth Avenue, occupies a prime position offering approximately 10,700 square metres of luxury...

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Safilo withdraws bid for Inspecs

Safilo does not intend to make a binding offer for British eyewear company, Inspecs. In a statement, Inspecs said that in light of the proposed acquisition by Bidco at a price of 84 pence per share, Safilo Group has confirmed it does not intend to make a binding offer for Inspecs. Bidco is a newly formed company established for the acquisition...

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Cheap clothing imports, high-quality material exports: figures reveal Japan's fashion industry

In recent years, Japan's apparel market has consistently fallen short of the nine trillion yen level seen before Covid-19. One reason for this phenomenon is the labour shortage in the textile industry. The average annual income in the textile sector is 5.81 million yen, which exceeds the wider industry average. However, textile wages remain more...