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Italian women's fashion fair, White Milano concluded its latest edition, held from February 27 to March 2, 2025, with notable shifts in buyer demographics. While Italian buyer attendance at the event decreased by 12 per cent, aligning with industry trends, international buyers increased by 7 per cent, signaling a growing global interest in the fair.
This edition marked the launch of the MoU project in collaboration with the Retail Leader Circle with an aim to expand White Milano's presence in the Gulf and Middle East. This initiative will establish a permanent brand selection presence in Riyadh with the AlMalki group at Westerly, open three shops at the Yacht Club in Jeddah, launch pop-up shops with events in Abu Dhabi and Dubai, and open a pop-up shop at 51East in Doha by 2025-end.
The fair showcased 300 brands in the ‘New Luxury,’ segment with 55 per cent from Italy and 45 per cent from international markets, including emerging regions. This diverse representation highlighted the fair's increasing global reach and creative offerings.
White Milano attracted numerous international retailers, including prominent names from Egypt, Japan, China, the US, and the UAE. Featuring five international designers—Yid'Phrogma, Maz Manuela Alvarez, Carolxott, Oh Carla, and René, the The ‘Secret Rooms,’ were particularly well-received.
Massimiliano Bizzi and Brenda Bellei, President and CEO, MSeventy Group, emphasized the success of their strategy to expand internationally, citing the ‘Circle project’ and the upcoming ‘Purple project’ as examples. They expressed confidence in the growth potential of the ‘New Luxury’ segment and affirmed their commitment to pursuing similar international projects in future editions.
Despite a slowdown in the overall luxury market, the Prada Group reported a 17 per cent rise in net sales to €5.4 billion during 2024. Driven by the strength of its brands and a focus on product innovation and quality, the company's performance remained ‘well above the market average,
Prada Group’s profitability also increased during the year, with the EBIT margin rising to 23.6 per cent, resulting in an EBIT of €1.3 billion. The group’s net profit increased by 25 per cent to €839 million. Its retail sales increased by 18% to €4.8 billion. Miu Miu emerged as the standout performer, with retail sales rising 93 per cent, sales of the brand Prada increased modestly by 4 per cent. Geographically, Asia Pacific dominated growth with €1.6 billion in sales, followed by Europe with over €1.5 billion.
Attributing the group’s success to its focus on product innovation, quality and craftsmanship, Patrizio Bertellim, Chairman and CEO also highlighted the importance of investments in production capacity and industrial know-how. Andrea Guerra, CEO emphasized the strong growth trajectory of Prada and the increased visibility and scale of Miu Miu.
Looking ahead in 2025, the Prada Group aims to continue outperforming the market, despite the uncertain economic environment. The company remains committed to its strategic priorities, including strengthening its brand positioning, enriching its product portfolio, and enhancing customer engagement.
American retail corporation Target aims to achieve sales worth $15 billion by 2030. The company also plans to add 20 new stores this year besides investing $4-5 billion towards physical store expansions, enhancing online delivery, and streamlining supply chain.
Released during its annual investor meeting, Target’s Q4, FY25 results indicate a dip in sales and profits during the crucial holiday season. Executives attribute this to cautious consumer spending and warn of ‘meaningful pressure’ on profits due to tariffs imposed on goods from Mexico, Canada, and China. Brian Cornell, CEO cautions, consumers might witness a rise in prices ofc certain products. .
Despite these challenges, Target exceeded most quarterly earnings estimates. However, the company's sales declined in February due to severe weather and waning consumer confidence. Target anticipates flat sales for the year due to economic uncertainty.
Tariffs and trade tensions, particularly with China, are significantly impacting Target's operations. The company is accelerating efforts to diversify its sourcing, reducing its reliance on China from 60 per cent in 2017 to a projected 25 per cent by the end of next year. It is also shifting sourcing to countries like Guatemala and Honduras and exploring domestic options.
Target is also strategically adjusting its pricing to mitigate the impact of rising costs. The company focuses on maintaining affordability for essential items while adjusting prices on products with greater flexibility. This approach helps balance profitability with consumer affordability.
Exceeding Wall Street expectations, Target reported a net income of $1.1 billion in FY24. For the current year, the company forecasts earnings per share of $8.80 to $9.80. It remains cautiously optimistic, despite the economic challenges, expecting net sales to increase by 1 per cent this year.
The Regenerative Cotton Standard (RCS) is already delivering positive results in Maharashtra, India, after just one harvest. With higher yields, lower costs, and growing adoption of regenerative agriculture, the initiative is proving both effective and feasible.
Last season, 5,000 farmers across 70 villages cultivated RCS cotton, harvesting 4,400 tonnes of ginned cotton. Yields rose by 2 percent, while costs fell by 7 percent, boosting farmer incomes. Soil regeneration efforts, including biochar application, further improved results demonstration fields using biochar achieved a 15 percent higher yield than conventional cotton farming. Meanwhile, 90 percent of farmers found the training methodology effective.
To ensure success, the project involved local leaders, lead farmers, and community groups. Farmers received training in cover cropping, crop rotation, and organic nutrient management. Field demonstrations and workshops helped build confidence in RCS methods. The initiative was implemented by Aid by Trade Foundation (AbTF) and Vijay Cotton & Fibre CO. LLP, alongside 40 agricultural consultants.
“With its holistic approach and focus on farmer experiences, RCS is a winning proposition,” said Tina Stridde, AbTF’s managing director. “This pilot project has shown real potential to help farmers regenerate soils, increase incomes, and secure their future despite climate challenges.”
Beyond farming benefits, RCS enhances textile supply chain transparency using AbTF’s tracking system, helping meet industry traceability demands. The pilot, which began in July 2024, will continue, while Tanzania is also entering its second season under RCS.
Nemo’s best-selling Dagger Osmo tent is now more spacious and sustainable, earning the Bluesign Product designation. This marks a major milestone in eco-friendly tent design, reinforcing Nemo’s commitment to clean chemistry and responsible manufacturing.
The 2025 Dagger Osmo is crafted with solution-dyed, 100 per cent recycled, PFAS- and flame-retardant-free fabrics, reducing environmental impact while maintaining high performance. Traditionally, backpacking tents rely on chemical treatments for durability, but Nemo’s Osmo fabric delivers lightweight, water-resistant, and UV-resistant performance without harmful substances.
The updated tent features a more livable interior without added weight, thanks to Nemo’s custom Elements hardware. The Axial corner anchor streamlines setup, while the Stash volumizing strut expands vestibule storage by 22 per cent. The Divvy Cube makes packing easier and more efficient for shared loads. Available in 2- and 3-person models, the Dagger Osmo weighs just 3 lbs., 5 oz (2P) and retails at $499.95.
“In 2023, our team set out to push Dagger’s sustainability further, creating the industry’s first Bluesign tent,” said Gabi Rosenbrien, Product Development Director at Nemo. “This required working closely with suppliers to meet strict performance and chemical standards.”
Daniel Rufenacht, CEO of Bluesign, praised Nemo for setting a new sustainability benchmark in outdoor gear. “By prioritizing clean chemistry, Nemo proves that performance and responsible manufacturing can go hand in hand.”
Sportswear and footwear retailer, Foot Locker projects its comparable sales will rise between 1 per cent and 2.5 per cent in 2025. The company plans to either open or convert additional 80 reimagined stores by the end of the year.
In Q4, FY24, Foot Locker’s sales declined by 5.8 per cent to $2,243 million as compared to sales worth $2,380 million in Q3, FY23.
The retailer’s comparable sales increased by 2.6 per cent during the quarter. The combined comparable sales of its brands Foot Locker and Kids Foot Locker rose by 3.6 per cent while sales of Champs Sports expanded by 1.8 per cent. However, these gains were partially offset by the 3.3 per cent decline in comparable sales of WSS.
Foot Locker’s net income from continuing operations increased to $55 million during the quarter as against a net loss of $389 million in the prior-year period.Foot Locker opened seven new stores while closing 47 stores during the quarer. It either remodeled or relocated 21 of its stores while renovating 160 stores to updated design standards.
The company currently operates 2,410 stores in 26 countries across North America, Europe, Asia, Australia, and New Zealand, as well as 224 licensed stores in the Middle East, Europe, and Asia.
In Q4, FY24, Foot Locker exceeded its previously revised expections with investments and execution driving positive comparable sales and also improving gross margins compared to the prior year, says Mary Dillon, President and CEO.
Enhancing its in-store experience for customers, Foot Locker introduced reimagined doors and store refresh program in 2024. The company upgraded its digital and mobile capabilities, expanded engagement with the FLX Rewards Program, and enaged into brand building through compelling campaigns and partnerships, adds Dillion.
Edana has announced the three finalists for the Filtrex Innovation Award 2025, recognizing innovative advancements in the filtration industry. The nominees are:
Gessner introduces an eco-friendly filter media replacing fossil-based resins with renewable lignin, reducing crude oil use by up to 100 kilograms per ton. Designed for engine air, oil, and fuel filters, it offers high performance, durability, and lower formaldehyde emissions.
NanoWave ESA is a 3D all-synthetic media designed for high-efficiency respiratory protection. PFAS-free and stretchable, it enables breathable, drapable garments while minimizing media processing and extending filter life.
Johns Manville’s innovative recycling process transforms HVAC bio-soluble glass microfiber waste into pellets for injection molding. With 30 per cent glass fiber content, these pellets create durable second-life products, reducing landfill waste and carbon dioxide emissions.
Each finalist will present their innovation at Filtrex 2025, held on March 25-26 in Vienna, Austria. Attendees will vote for the winner, announced at the end of the first day.
Since 2004, Filtrex has been a premier event for the filtration sector, bringing together industry leaders to discuss market trends, advanced materials, and testing developments.
Reinforcing their commitment to promoting sustainably produced cotton, Better Cotton and Cotton Australia have renewed their strategic partnership until 2027. This agreement ensures continued collaboration and alignment between the two organizations.
Cotton Australia's ‘my Best Management Practice’ (myBMP) Standard has been recognized as equivalent to the Better Cotton Standard System (BCSS), since 2014, allowing Australian farmers to market their cotton as ‘Better Cotton’ globally. In the 2023/24 season, Australian farmers produced over 400,000 metric tons of Better Cotton, representing 40 per cent of the nation's total cotton output.
A significant contributor to the economy, the Australian cotton industry employs over 10,000 people and generating more than AU$3.5 billion annually in export revenue.
Cotton Australia has successfully aligned its myBMP Standard with Better Cotton's updated Principles & Criteria (P&C) v.3.0. The revised myBMP Standard will be fully implemented by the 2025/26 cotton season.
Better Cotton requires regular reassessment and realignment of partner standards to maintain equivalence with the BCSS. This ensures that both standards evolve to support farmers in meeting the increasing market demand for sustainable cotton.
The 2nd edition of Best of Bangladesh in Europe is set for April 17-18, 2025, at Beurs van Berlage, Amsterdam, showcasing the country’s economic progress, industrial excellence, and investment opportunities. Organized by Bangladesh Apparel Exchange (BAE) and powered by PDS Limited, the event is backed by The City Bank PLC, KDS Group, the Ministry of Foreign Affairs (MoFA), and Bangladesh Investment Development Authority (BIDA).
This premier platform highlights Bangladesh’s rapid economic growth, manufacturing strength, and sustainability-driven innovations, positioning the country as a leading global investment destination. With Bangladesh now ranked as the 37th largest economy, the event fosters direct collaboration between European entrepreneurs and Bangladeshi private sector leaders.
Visitors will engage with 50 leading companies across 8 industries, gaining insights into sustainability, circularity, and technological advancements. The two-day event features a grand opening ceremony, industry exhibitions, panel discussions, and fashion shows, offering a dynamic view of Bangladesh’s evolving business landscape.
The event boasts 40+ global speakers and expects over 1,500 participants, providing a strategic networking platform for investors, policymakers, and business leaders. Founder and CEO of BAE, Mostafiz Uddin, emphasized:
“This event is an unparalleled opportunity to engage with industry leaders and explore Bangladesh’s immense potential. Through exhibitions, networking, and panel discussions, we aim to foster real collaborations that drive meaningful impact.”
The event will feature key panel discussions on Bangladesh’s economic growth and investment potential, its rise as a global sourcing hub, worker empowerment through innovation, sustainable agricultural advancements, and the country’s expanding digital landscape.
Prominent exhibitors include Pacific Jeans, Fakir Group, Paragon Group, Knit Asia, PDS Limited, Leatherina Pvt Ltd, Rising Group, City Bank PLC, and many more.
With its focus on sustainability, innovation, and cross-border partnerships, Best of Bangladesh in Europe 2025 promises to be a landmark event for driving investment and shaping the future of Bangladesh’s industries.
The global luxury industry, synonymous with exclusivity and opulence, is changing as is revealed in Bain & Company's 23rd Annual Luxury Report. It highlights a nuanced landscape marked by shifting consumer behavior, regional disparities, and evolving market dynamics.
What is driving change?
Macroeconomic uncertainty: Global economic instability, due to geopolitical tensions and fluctuating markets, has affected consumer confidence. This uncertainty has led to more cautious spending, particularly on high-end discretionary items.
Pricing strategies: In recent years, luxury brands have implemented substantial price increases. While intended to increase brand prestige and offset rising operational costs, these hikes have, in some cases, alienated consumers, especially younger demographics who question the value proposition.
Evolving consumer values: There's a shift towards experiential luxury over material possessions. Consumers are increasingly prioritizing unique experiences such as travel and fine dining, reflecting a broader change in what is deemed valuable.
Current scenario of state of luxury
In 2024, the global luxury market saw a slight drop, with overall spending estimated at €1.48 trillion, which was 1 to 3 per cent decrease compared to 2023. This decline is viewed as a normalization following after robust growth in 2022 and 2023, with performance still exceeding pre-pandemic levels.
The personal luxury goods segment which includes fashion, accessories, and beauty products, saw its first drop in 15 years (excluding the COVID-19 period), declining by 2 per cent to €363 billion. This was due to lower consumer spending amid economic uncertainties and resistance to continued price increases.
Regional insights
Asia-Pacific: Japan emerged as a bright spot, leading global luxury sales growth due to favorable currency exchange rates and a rise in tourist spending during the first half of 2024. Conversely, mainland China faced a sharp slowdown, with a significant 18-20 per cent year-on-year decline in luxury spending. This is linked to low consumer confidence and increased overseas shopping as international travel resumed. In fact, the Chinese luxury market's downturn highlights the impact of economic uncertainty and consumer pushback against frequent price increases. Brands are now focusing on footprint consolidation and performance improvement rather than expansion.
Europe and Americas: These regions maintained stability, with Europe benefiting from tourist inflows and the Americas showing improvement as 2024 progressed.
Looking ahead, the personal luxury goods market is forecasted to grow moderately in 2025, with projections ranging between 0 and 4 per cent. This outlook assumes sustained growth in Western countries and the Middle East, a gradual recovery in China gaining momentum in the latter half of the year, and normalization in Japan.
Long-term projections are more optimistic, with expectations of 4 to 6 per cent annual growth leading up to 2030, potentially reaching a market value between €460 billion and €500 billion. This growth is expected to be driven by emerging markets and a growing middle class, introducing over 300 million new consumers to the luxury sector in the next five years.
Shifts in consumer behavior
A notable trend is a decline in luxury consumer base, which has shrunk by approximately 50 million individuals over the past two years. This reduction is particularly evident among GenZ consumers, whose advocacy for luxury brands has reduced. Factors contributing to this shift include economic uncertainty, price sensitivity, and a growing emphasis on sustainability and ethical consumption.
Despite the overall reduction, affluent consumers continue to make up a significant portion of luxury spending. However, there's a growing sentiment among these top-tier customers that their luxury shopping experiences have become less exceptional, prompting brands to reassess and enhance their value propositions.
Claudia D'Arpizio, a partner at Bain & Company and lead author of the report, emphasizes the critical juncture at which the luxury market stands: "Luxury spending has shown remarkable stability this year, despite macroeconomic uncertainty, largely driven by consumers' appetite for luxury experiences." She further notes the imperative for brands to "readjust their value propositions" in response to the evolving consumer landscape.
Thus as the luxury industry transforms it is being influenced by economic factors, shifting consumer preferences, and regional variances. Brands that adapt to these changes by embracing digital innovation, prioritizing sustainability, and enhancing customer experiences are poised to thrive in this evolving landscape. As the market recalibrates, a renewed focus on authenticity, value, and consumer engagement will be paramount in securing future growth.
