🇨🇳 US fashion importers still find it hard to diversify away from China. Using a snapshot of the top 10 suppliers of clothing products to the United States from January to October, an industry expert has found that China accounted for nearly 61 percent of imports with around 62,000 SKUs. India and Vietnam came a very distant second and third place respectively with just 15,000 SKUs each. Despite moves by American brands and retailers to ‘de-risk’ or diversify away from China, major alternative sourcing countries like Cambodia and Bangladesh registered with just 3,500 and 3,000 SKUs respectively, according to Sheng Lu, professor of fashion and apparel studies at the University of Delaware, speaking at the recent Apparel Importers Trade & Transportation Conference presented by the USFIA in New York. “I think you see that it will take [even more] time for companies to find China’s alternative,” said Lu, referring to China’s competitiveness in terms of capabilities and clusters if not price, compared to the group of “Asia five” countries gradually increasing supply volumes, which also includes Indonesia. [Sourcing Journal]
🇮🇳 India’s Tata Cliq reports annual revenue decline after exiting electronics. Tata Unistore, the Tata Group-owned firm which runs e-commerce platforms Tata Cliq Fashion, Tata Cliq Luxury and Tata Cliq Palette, has posted a 42 percent sales decline in the 2024 financial year, reaching 247 crore rupees ($29 million), down from 430 crore rupees in the previous year. The firm cited improved profitability but said that revenue was not comparable during the period as it had exited the electronics category, which was moved instead to the group’s ‘super-app’ Tata Neu. [Economic Times]
🇦🇺 Australia’s International Woolmark Prize names 2025 finalists. The eight finalists are Italy’s Act No1; The Netherlands’ Duran Lantink; Belgium’s Ester Manas; France’s LGN Louis Gabriel Nouchi; Belgium’s Meryll Rogge; Standing Ground from the UK/Ireland and US brands Luar and Diotima. Each finalist will receive $60,000 Australian dollars for the creation of a collection featuring Australian Merino wool. Founded in the 1950s, next year’s contest marks the first edition in its new biennial format. [Ragtrader]
🇮🇳 General Atlantic set to exit Indian fashion group House of Anita Dongre. The US private equity firm is said to be readying to sell its nearly 40 percent share of the group which holds the namesake luxury brand and mass-premium brands AND and Global Desi back to the House of Anita Dongre. Founded in 1995 by Anita Dongre, Meena Sehra and Mukesh Sawlani, the firm secured investment from General Atlantic about ten years but has seen declining revenues and store closures in recent years. [Economic Times]
🇷🇴 Romanian second-hand fashion imports are becoming textile waste. At least 14 court complaints alleged that some 11 Romanian firms have illegally imported unsorted textile goods from other European Union countries and other territories, only to abandon some of it in ways that end up polluting natural landscapes in areas such as the Jiu Valley, according to an investigation by OCCRP and RISE. “These second-hand goods are actually waste in disguise,” says the National Environmental Guard Commissioner Andrei Corlan. [OCCRP]
🇮🇳 India’s apparel exports surge 35% in October. The country’s apparel exports reached $1,227.44 million during the period, up 35.06 percent against the comparable period a year earlier. Textile exports increased 11.56 percent to $1,833.95 million, according to the Confederation of Indian Textile Industry, citing government data. No reason was given for the surge but business captured from neighbouring Bangladesh’s political instability may be a factor. [Economic Times]
🇻🇳 TnB Vietnam to build fashion manufacturing complex in Binh Dinh. The firm, funded by Singapore’s HGQ Asia Pte.Ltd., has been granted an investment certificate by Vietnam’s Binh Dinh Economic Zone Authority to construct the $20 million, 8.4-hectare complex in Hoa Hoi Industrial Park located about an hour outside Quy Nhon in Binh Dinh province. Upon completion, the plant is expected to produce 7 million fashion items annually. [Vietnam Economic Times, Fibre2Fashion]
🇮🇳 India’s gem and jewellery exports rebound in October. The sector reached $2,998.04 million (25,194.41 crore rupees) in export value, marking an increase of 9.18 percent in dollar terms and 10.23 percent in rupee terms against the comparable period in the previous year, according to figures released by Gem & Jewellery Export Council (GJEPC). The turnaround follows months of decline. [Economic Times]
🇨🇳 Chinese immigrants are running Temu shipping centres from US homes. As US officials scrutinise the boom in low-value parcels from China due to Temu, Shein and TikTok Shop, cross-border sellers are turning to so-called “family warehouses” — basically just an individual’s home — as a cheaper way to store their goods in the US than traditional warehouses. [Rest of World]
🇮🇳 Bestseller India CEO and country head to step down. After 15 years at the company where he introduced group brands like Jack & Jones, Vero Moda, Only Selected Homme and others to the market, Vineet Gautam will leave at the end of this year. Bestseller, which was founded by the Holch Povlsen family in Denmark in 1975, has over 20 brands that are sold to 2800 mono-brand retail stores in 44 countries and a wholesale network of 16,000 multi-brand stores in over 75 countries. [Economic Times]
🇮🇳 India’s True Diamond secures $1 million in seed funding. The lab-grown jewellery start-up co-founded in January by Parin Shah has raised the funds in a round led by Titan Capital with participation from Huddle Ventures, Zeropearl Ventures, and angel investors including founders from Rena E Cosmetics, Mamaearth, Tracxn, and Astrotalk. [Economic Times]
