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After being resilient during its slowdown period, luxury brand Prada seeks to expand its operations. The brand has entered into a $1.375 billion deal to acquire its competitor, the current loss-making Versace from Capri Holdings.
The move will unite two of the biggest names in Italian fashion. It will also Italy's position in a luxury industry led by French conglomerates.
Prada will continue to build on Versace’s legacy by celebrating and reinterpreting its bold and timeless designs, says Patrizio Bertelli, Chairman. The brand will also provide it with a strong platform, reinforced by years of ongoing investments and rooted in longstanding relationships, he adds.
Prada has agreed to pay a significantly lower price for Versace than the roughly $2.15 billion, including debt, paid by Capri paid for the brand’s acquisition in 2018. Previously known as Michael Kors, Capri bought Versace from the Versace family and Blackstone.
Coats Digital, the software division of Coats Group, has won two major honours at the 2025 Just Style Excellence Awards for its innovative time-cost benchmarking solution, GSDCost. The company was recognised with the Innovation - Data Solutions Award and the Environmental - Compliance & Sustainability Award for the second year in a row, underscoring its continued impact on transforming fashion industry operations through technology and sustainability.
GSDCost was praised for revolutionising the costing process across the sewn products industry by replacing outdated analogue methods with a standardised, digital, and scientific solution. It empowers brands and manufacturers to make more accurate and consistent costing decisions, supports ethical compliance, and improves operational efficiency through its fact-based insights.
The Just Style Excellence Awards, powered by GlobalData, recognise outstanding achievements across various business domains, with winners selected through analysis of over 1 billion datasets. The programme honours excellence in areas such as innovation, sustainability, social impact, and business expansion.
The GSDCost solution earned the Innovation - Data Solutions Award for several industry-first functionalities. These include enabling brands to efficiently compare Cost-to-Make submissions from multiple vendors, creating a standardised analytics language for improved communication across supply chains, and offering comprehensive data insights on vendor productivity, machine capabilities, and ethical compliance. The solution also enables credible Bill of Labour estimates using scientifically validated international standard time benchmarks, ensuring improved accuracy in costing.
GSDCost’s role in sustainability was equally lauded. It secured the Environmental – Compliance & Sustainability Award for helping brands meet emerging regulatory requirements around fair wages and environmental impact. The platform promotes sustainable manufacturing by optimising planning and line balancing, reducing waste, and improving resource efficiency. It also integrates a global Fair Wage Tool, benchmarking wages against international standards to uphold fair labour practices.
Kunal Kapur, Managing Director at Coats Digital, expressed pride in the recognition, saying, “These awards reflect our ongoing commitment to enabling smarter, more sustainable business decisions in fashion. GSDCost has consistently delivered the tools our customers need to meet today’s complex supply chain challenges with confidence.”
Adrian Elliott, Divisional CEO, Apparel, Coats Group, added, “Winning for the second year in a row reinforces GSDCost’s value in creating a digital, transparent, and responsible global fashion supply chain. Our mission is to continue driving meaningful change through technology that enhances productivity, ensures compliance, and supports long-term sustainability goals.”
Widely acknowledged as the de-facto international standard for method-time-cost analysis in the sewn products industry, GSDCost supports a more collaborative and transparent ecosystem. By enabling the adoption of International Standard Time Benchmarks and standard motion codes, it fosters accurate cost forecasting, ethical negotiation, and environmentally responsible manufacturing across the value chain.
Functional Fabric Fair, powered by Performance Days, is set to return to Portland, Oregon, from April 14 to 16, 2025, at the Oregon Convention Center. This North America-exclusive sourcing event brings together more than 300 sustainable-certified suppliers, offering the latest in high-performance functional fabrics, trims, and accessories for Spring 2026 and 2027 collections. The trade-only event continues to be a vital platform for designers, apparel CEOs, and sourcing professionals seeking innovation in outdoor, activewear, and lifestyle performance textiles.
“This year’s edition reflects the evolving needs of our industry,” said Steve McCullough, Event Vice President. “With an expanded exhibit hall, dynamic education programs, and fresh networking opportunities, 2025 promises to be our most engaging event yet.”
Sustainability, education and innovation take center stage
The show kicks off on April 14 with Sustainability Workshop, led by Jill Dumain of Fractal CSOs and sponsored by Hyosung. This in-depth session will focus on material traceability, solvent impact, and sustainable sourcing performance. The workshop will take place in Hall C - Room 123 and requires separate registration due to limited seating.
Throughout the show, attendees can join Expert Talks on the exhibit floor, sponsored by AATCC, to hear from industry leaders sharing insights on emerging trends, case studies, and sustainable solutions. Functional Fabric Fair has also added guided Sustainability Lounge Tours on April 15 and 16, offering 45-minute sessions led by Stewart Sheppard of S2 Consulting, focusing on key sustainable material suppliers.
Expanded show features enhance sourcing and networking
A number of dedicated zones will enrich the attendee experience. The new Wool Forum highlights wool’s performance and eco-friendly credentials, while the Bodywear Collective, sponsored by Lycra, presents next-to-skin innovations including seamless performance sportswear. The AATCC Textile Test Zone offers live demonstrations of official textile testing procedures, while the Innovation Zone introduces breakthrough textile technologies set to transform the industry.
Other highlights include the Trend Forum, a curated display of 12 essential fabric categories focused on sustainability, and the Outdoor Recreation Archive in partnership with Utah State University, showcasing the history of outdoor apparel evolution. Meanwhile, the Media Lounge and Italian Bar offer space to recharge and network, and the Coffee Igloo provides complimentary refreshments to keep energy high.
Live events will feature Project Runway finalist Kelley Dempsey in the Design Lab Live on April 15, creating a garment in real-time using fabrics from exhibitors. Visitors can also attend a new book signing session with author Zoe Hong for her title Fashion School in a Book in the Media Lounge.
Networking continues beyond show hours, including the Covation Bio Happy Hour on April 15 and an after-hours gathering at Spirit of 77, sponsored by Nextex and co-sponsored by Brookwood and Duraflex.
In a move toward digital engagement, the fair is implementing the Colleqt system to replace physical marketing materials. Using QR code scanning, attendees can instantly collect exhibitor information on their phones and receive daily recaps.
Registration is free for verified professionals and students in relevant sectors, while Workshop requires paid registration.
The US stands as an important export destination for the Indian textile and apparel (T&A) industry, with annual shipments reaching almost $10 billion. The recent imposition of tariffs by the US on imports creates a complex scenario, a double-edged sword offering a potential advantage while simultaneously exposing underlying vulnerabilities within the Indian manufacturing sector, opines consultancy firm Wazir Advisors that offers comprehensive 360-degree strategic and operations improvement support to help companies develop vision, strategic roadmap and implementation in a new changing geopolitical world.
As per Wazir Advisors, the new scenario raises concerns about a potential slowdown in demand due to anticipated consumer price increases, higher pressure on profit margins as US buyers seek price reductions, and the existing limitations in India's capacity for rapid export growth. Furthermore, the perceived temporary nature of these tariff increases may discourage essential investments in expanding production capabilities.
Initially, some experts had said India is better placed as it faces a 26 per cent duty, which is lower than that imposed on competitors such as Bangladesh (37 per cent), Vietnam (46 per cent), and Cambodia (49 per cent). However, the initial optimism may be premature due to several reasons:
Relative advantage vs. underlying cost disparity
As per Wazir Advisors even with 11 per cent lower import duty than Bangladesh, Indian products might still be more expensive because the basic production cost in India is roughly 10-12 per cent higher. The following example illustrates how India's higher production costs can negate the advantage of a lower tariff.
|
|
Bangladesh |
India |
|
FOB Price |
$ 5.00 |
$ 5.45 (9% higher) |
|
Old Duty (say 16.5%) |
$ 0.83 |
$ 0.90 |
|
New duty (additional) |
$ 1.85 (@37%) |
$ 1.42 (@26%) |
|
Total |
$ 7.68 |
$ 7.77 (1% higher) |
The above calculation shows that for products where the old duty rate was 16.5 per cent, India will still be more expensive than Bangladesh if the Indian FOB price was 9 per cent higher to begin with. For most products, India's FOB price can only be about 7.2 to 8.3 per cent higher for the final prices to be equal to those from Bangladesh. Otherwise, Indian goods will be more expensive, even with lower tax. Moreover, considering the larger production capacities in Bangladesh and the reluctance of brands to alter their supply chains for marginal cost differences, India's ability to significantly gain market share from Bangladesh in many categories remain limited. India would have a slightly better advantage over other competitors, but developing the necessary product-level competency and production capacities will be crucial to achieve substantial gains.
Pressure on profit margins
Beyond cost discrepancies, Indian manufacturers will also face anticipated pressure from US buyers to reduce prices to absorb the high tariff costs. Reports indicate US buyers are already seeking discounts ranging from 15-20 per cent on existing orders placed before the tariff announcement. This demand for price reductions creates a challenge for Indian manufacturers who already operate on thin profit margins. Possibly the increased tariff burden might be shared through a three-way split between the Indian seller, the US buyer, and ultimately the consumer. However, even with such a compromise, Indian manufacturers would likely experience a drop in revenue per unit. Also, some factories in other Asian countries might be willing to absorb a portion of the tariff impact in the short term as a strategy to maintain their existing business with US buyers.
Internal challenges to capitalizing on the situation
The ability of the Indian industry to fully capitalize on this seemingly advantageous position is also questionable given existing challenges like high raw material costs, product basket concentration, and manpower related challenges.
Short-term demand fluctuations vs long-term impact
The tariff is expected to lead to a decrease in demand in the short to medium term, primarily due to the anticipated increase in clothing prices for US consumers. This price hike, combined with existing inflationary pressures in the US market, is likely to make apparel more expensive, leading reduced consumer spending on these goods.
Initially, US buyers are expected to halt new order placements as they assess the tariff’s impact on consumer demand and work through their existing inventories shipped earlier. This pause in orders could lead to a depletion of stocks throughout the supply chain. Once the initial uncertainty subsides and inventory levels are low, a subsequent rise in demand is possible. It is also
worth noting that some brands and retailers might have anticipated these tariffs and proactively built up their inventories, further contributing to the initial delay in new order placements as they manage existing stock. And many brands may hesitate to make significant changes to their supply chain strategies immediately after the tariff implementation, preferring to observe the long-term implications of these policy shifts.
Therefore to sustain its competitive edge, the Indian T&A industry must prioritize cost control and export market diversification. Intensified competitive pressures demand that manufacturers rigorously explore all avenues for cost reduction.
Lingerie giant Victoria’s Secret & Co (VS & Co) has expanded its leadership team with four new appointments at the company,
The brand has appointed Adam Selman as its new Executive Creative Director.
Known for his bold designs and brand storytelling, Selman most recently served as the chief design officer for Savage X Fenty, where he played a key role in launching he brand’s activewear and loungewear categories.
Having started his career with designer Zaldy Goco, Selman began operating independently in 2010. He created world tours and custom looks for Beyonce, Lorde and Katy Perry besides designing Rihanna’s looks for her Victoria’s Secret Fashion Show performances. The designer is also know for launching two namesake brands, Adam Selman, and Adam Selman Sport.
Besides, VS & Co also promoted Anne Stephenson, Chief Merchandising Officer as the new president of brand Victoria’s Secret brand.
With over 25 years of experience in merchandising, Stephenson is an expert in product strategy, brand development, and merchandising execution across top retail and apparel brands.
Moreover, Ali Dillion has been appointed as the new President of the brand Pink. A merchandising and brand executive with over two decades of experience, Dillion leads product strategy, merchandising, and brand development for fashion retailers. She was most recently president of Alex Mill.
Amy Kocourek has been appointed as the new President – Beauty. With over years of experience in strategy, product innovation, and business transformation, Kocourek has an expertise in driving revenue growth and expanding categories. Most recently, she functioned as the Chief Merchandising Officer, Kendra Scott.
All three brand presidents will report directly to Hilary Super, CEO, VS&Co. They will help accelerate growth across the company’s portfolio of brands, focusing on Victoria’s Secret and Pink, and its beauty business.
The United States Fashion Industry Association (USFIA) has welcomed the temporary pause on reciprocal tariffs announced by President Donald Trump, viewing the 90-day reprieve as a critical window for meaningful negotiations.
The association emphasized that global sourcing is vital to the fashion industry and expressed optimism that the tariff suspension will allow for constructive dialogue to dismantle trade barriers and open markets.
USFIA, whose motto is "Fashion Made Possible by Global Trade," underscored the importance of a stable and predictable trade environment for American fashion brands and retailers. However, the group voiced concern over escalating tensions with China, warning that continued tariff escalation could harm both economies.
While the pause offers hope, USFIA urged the US and China to move toward a comprehensive resolution of longstanding disputes. The organization reiterated its stance that trade wars benefit no one and called for diplomacy over disruption in global trade policy.
Madagascar's crucial textile industry is facing the potential loss of approximately 60,000 jobs following US President Donald Trump's decision to impose a 47 per cent tariff on goods from the country.
Vital to the country’s economy, Madagascar’s textile and clothing sector employs around 180,000 people and contributes about 20 per cent of the nation’s GDP, according to a 2023 report by the International Labor Organization (ILO).
With a population of 31 million, Madagascar exported goods worth $733 million to the US in 2024, much of it through the African Growth and Opportunity Act (AGOA) — a US trade program that allows many African countries to export selected goods duty-free. The US goods trade deficit with Madagascar was $679.8 million in 2024. The United States exported goods worth $53.41 million to Madagascar during the same period.
Rindra Andriamahefa, Executive Director, Groupement des Entreprises Franches et Partenaires (GEFP), notes, this figure includes both permanent job cuts and temporary layoffs.
Beatrice Chan Ching Yiu, President, GEFP, cautiones, the new tariffs would force investors to shift their focus to other exporting countries facing significantly lower trade barriers.
In response to the impending crisis, Madagascar’s government has begun coordinating with other African nations similarly affected by the US tariffs, seeking to establish a united front.
A constructive bilateral dialogue with US authorities is underway, including technical discussions aimed at understanding the rationale behind the decision, says Foreign Affairs Ministry, Madagascar.
As discussions continue, industry leaders in Madagascar fear that the steep tariffs could undo years of progress in the country’s garment manufacturing sector, which has long been a significant source of employment and economic stability.
Suit imports by the US declined by 4.75 per cent in 2024, shows data from the Office of Textiles and Apparels (OTEXA). The value of these imports contracted from $1,189.85 million in 2023 to $1,133.28 million in 2024, indicating a downward trend in demand or changing trade dynamics.
China remained the largest supplier of suits to the US, with imports totaling $222.92 million in 2024. However, this represented a 3.10 per cent decline from the previous year, suggesting possible sourcing diversification or economic factors impacting trade.
Another significant player, India experienced a sharper 5.42 per cent decline in suit exports to the US, bringing its total value down to $54.80 million. Similarly, Mexico saw the steepest decline at 21.87 per cent, followed by Bangladesh, which fell 18.69 per cent, and Indonesia, which dipped by 11.59 per cent. The weakening of these sourcing centers indicates shifts in buyer preferences or cost competitiveness.
In contrast to the overall downturn, Canada emerged as the biggest gainer, recording an 11.17 per cent increase in suit exports to the US. Imports from Canada rose from $108.44 million in 2023 to $120.56 million in 2024, making it one of the few countries to buck the downward trend.
The rise in Canadian suit exports to the US could be due to factors such as trade agreements, geographical proximity advantages, or a preference for North American-made apparel.
Vietnam was the only other country to register positive growth, with a 2.53 per cent increase in suit exports to the U.S. This suggests that Vietnam continues to strengthen its position in the global apparel trade, benefiting from its cost-effective manufacturing and trade relationships with the US.
The American Apparel & Footwear Association (AAFA) has urged the US administration to establish a more predictable trade framework following President Donald Trump’s announcement of a 90-day pause on reciprocal tariffs and the imposition of new tariffs on imports from China.
Steve Lamar, President and CEO of AAFA, voiced concern over the instability caused by fluctuating trade policies, warning that “on-again, off-again tariff policy is forcing companies to careen between chaos and costs.” While welcoming the pause as a chance for meaningful negotiations, Lamar emphasized the need for a long-term, consistent approach that encourages investment and supports American jobs.
Lamar also criticized the continued burden placed on US apparel and footwear imports from China. “This extreme tariff... will lead to higher prices for everyday apparel, footwear, and accessories and higher costs for US manufacturers,” he said.
AAFA expressed hope that the tariff suspension will be extended beyond China to all trade partners, enabling US companies to shift focus from policy uncertainty to promoting balanced, fair trade. The association also called on the administration to collaborate with Congress and stakeholders to build a durable, partnership-based trade policy.
In response to ongoing uncertainty, AAFA has endorsed the bipartisan Trade Review Act of 2025, introduced by Senator Maria Cantwell and co-sponsored by a cross-party group of lawmakers. The bill aims to restore Congressional authority over trade policy, reinforcing Article 1, Section 8 of the Constitution.
Japanese operator of the clothing chain Uniqlo, Fast Retailing is expected to post a14 per cent growth in its operating profit reaching 125.9 billion yen in Q2, FY25.
As per an LSEG consensus, this would represent a record second-quarter performance for the company, nearly doubling the first quarter's 7.4 per cent profit growth.
From its humble beginnings as a single store in Hiroshima four decades ago, Uniqlo has expanded to over 2,500 locations worldwide. The company's success is built on selling affordable fleece and cotton apparel predominantly manufactured in China and other Asian countries.
However, this established business model now faces challenges due to widespread tariffs initiated by the US President, coupled with retaliatory measures from some of America's key trading partners.
In response to a slowing economy in China, its largest overseas market with over 900 stores, Fast Retailing has increasingly focused on growth opportunities in North America and Europe.
Mark Chadwick, an independent analyst acknowledges the negative impact of the tariffs on Fast Retailing but points out that its competitors in the retail sector will likely face similar pressures, and other industries might be even more severely affected.
He believes that textile supply chains possess greater flexibility compared to sectors like automotive. Chadwick anticipates that the US tariffs will negatively impact Fast Retailing's earnings over the next year, albeit less significantly than other global firms such as Nintendo and Toyota.
Tadashi Yanai, Founder, Fast Retailing, aims to establish his company as the world's leading clothing brand. He has consistently advocated for free trade and defended the company's business dealings in China despite human rights concerns.
The US President has indicated that Japan would face a 24 per cent reciprocal tariff on non-auto products, while duties on Chinese goods are set to rise to 104 per cent.
UBS analysts report. Uniqlo goods shipped to North America are sourced from outside China. Their estimates suggest, Fast Retailing's tariff costs could reach around 34.3 billion yen in the next fiscal year, potentially reducing business profit by approximately 6 percent.
Takahiro Kazahaya, Analyst, UBS, suggests, increased price sensitivity among consumers might lead them to re-evaluate the value-pricing proposition at Uniqlo, potentially opening up business opportunities in the medium term.
For FY25 ending August 2025, Fast Retailing projects an operating profit of 530 billion yen, marking its fourth consecutive year of record earnings. The company’s domestic sales have recently been boosted by a surge in duty-free shopping, driven by a tourism boom in Japan fueled by a weak yen.
