Welspun Living has announced the appointment of Keyur Parekh as Whole-time Director, effective June 1, 2026. Tasked with a five-year mandate extending through May 2031, Parekh’s elevation serves as a core component of the company’s broader effort to consolidate its market share in the home solutions sector. Currently serving as CEO, Global Business, Parekh has been instrumental in refining the company’s international marketing and supply chain operations, navigating the firm through diverse macroeconomic cycles over his 17-year tenure with the organization.

Driving value in a competitive landscape

The appointment comes at a critical juncture as the textile major aligns its operations with favorable global trade developments, including the nascent India-EU and India-UK free trade frameworks. Dipali Goenka, Managing Director and CEO, Welspun Living, emphasizes, Parekh’s deep-rooted understanding of cross-border retail and hospitality partnerships will be vital as the company aims to capitalize on structural shifts in global sourcing. His contribution has been fundamental to our growth trajectory, and his strategic perspective will further solidify our position as a globally trusted enterprise, he notes. Parekh’s mandate focuses on scaling reliability and operational excellence while harnessing the company’s digital and omnichannel initiatives to penetrate deeper into key Western and emerging markets.

Operational focus and market resilience

The firm’s recent performance underscores this strategic shift, with the Domestic Consumer business delivering a significant 29.2 per cent Y-o-Y growth in Q4, FY26, alongside achieving EBITDA breakeven. By strengthening its leadership bench, Welspun Living aims to maintain its momentum in reducing net debt - which stood at Rs 775 crore as of March 2026 - and ensuring that its manufacturing footprint remains agile against global headwinds. Parekh will continue to oversee the integration of Home Textiles, Advanced Textiles, and Flooring businesses, ensuring that the company’s output remains aligned with evolving consumer preferences for sustainable and tech-integrated home solutions.

About Welspun Living Limited

A prominent leader in global home textiles, the company specializes in bed, bath, and flooring solutions. With a footprint spanning over 50 countries, it serves retail and hospitality sectors. Currently, Welspun is scaling its domestic consumer brand while focusing on operational efficiency and international trade partnerships for long-term growth.

The Vietnam Textile and Apparel Association (VITAS) is set to convene a critical seminar in Hanoi on May 28, focusing on the imperative transition toward digitalization and smart manufacturing. As the domestic industry grapples with the dual pressures of escalating labor costs and stringent international sustainability compliance, the event serves as a strategic roadmap for enterprises to integrate Fourth Industrial Revolution technologies. Industry stakeholders are moving to replace conventional, labor-intensive production models with automated, data-driven systems to maintain competitive parity in an increasingly volatile global landscape. By leveraging artificial intelligence and big data analytics, manufacturers aim to optimize production cycles and strengthen resource management across the entire value chain.

Bridging the efficiency gap through technology

Research indicates that digital transformation can yield a 20 per cent to 30 per cent increase in productivity while simultaneously reducing order-related errors by up to 30 per cent. The upcoming seminar seeks to translate these statistical benefits into tangible outcomes for member companies by showcasing successful smart factory implementations. This knowledge-sharing initiative is designed to mitigate the risks and capital inefficiencies often associated with large-scale technology adoption. Rather than broad, sweeping automation, the association is guiding firms toward modular, scalable solutions that address specific operational bottlenecks - from design phase innovations to real-time supply chain integration. The emphasis remains on developing a cohesive strategy that balances high-tech investment with long-term financial viability and environmental transparency.

Vietnam Textile and Apparel Association (VITAS)

VITAS acts as the primary representative body for Vietnam’s textile and garment manufacturing industry. Its mandate includes policy advocacy, promoting sustainable growth, and driving technological modernization among its member enterprises. The association focuses on strengthening the sector’s presence in global markets by fostering collaborations that enhance export competitiveness and operational excellence.

Gokaldas Exports has demonstrated significant operational resilience in Q4, FY26, reporting a consolidated net profit of Rs 36 crore. This performance represents a robust 146 per cent sequential recovery from the preceding quarter’s Rs. 15 crore, underscoring a successful turnaround in manufacturing efficiency despite a volatile global trade environment. While year-on-year profitability faced pressure due to lingering geopolitical instability and historical tariff-related cost burdens, the company’s consolidated total income grew 9 per cent Q-o-Q to Rs 1,087 crore. This growth was largely anchored by a 17 per cent Y-o-Y growth in production output from its African facilities, which benefited from the renewed African Growth and Opportunity Act (AGOA).

Leveraging trade agreements for future scaling

The company is proactively navigating shifting trade policies to safeguard its margins. Management has signaled that the recent landmark India-US trade agreement, which establishes an 18 per cent tariff ceiling, serves as a critical structural catalyst for the coming fiscal year. By integrating its recent acquisitions - Matrix Clothing and Atraco - the firm has effectively diversified its product mix, moving toward higher-margin activewear and complex outerwear. Sivaramakrishnan Ganapathi, Vice Chairman and Managing Director, noted, these strategic measures, coupled with stringent cost-management initiatives, led to a 275-basis point expansion in sequential EBITDA margins. With senior leadership transitions, including the appointment of a new President for International Business, the company is intensifying its focus on capturing global demand while insulating operations against raw material inflation.

Leading apparel manufacturer

Headquartered in Bengaluru, Gokaldas Exports is a leading Indian apparel manufacturer producing over 90 million garments annually for global brands. Its product portfolio spans casual wear, activewear, and outerwear. With a growth strategy centered on multi-country manufacturing and the consolidation of recent acquisitions, the company targets sustained volume expansion.

The global luxury industry is not facing a demand fall it is confronting a redefinition of value. As bellwethers like LVMH, Kering, and Chanel signal declining growth, the underlying narrative is less about macroeconomic stress and more about capital migration. The High-Net-Worth Individual (HNWI), long the bedrock of luxury demand, is reallocating discretionary spend away from visible goods toward assets that compound at a biological and cognitive level.

This shift reframes luxury from a system of external validation to one of internal optimization. The ‘equity of self’ is emerging as a measurable, investable construct, where healthspan, physical aesthetics, and cognitive performance deliver higher perceived returns than leather goods or seasonal apparel.

The GLP-1 Effect: Pharma as a new luxury competitor

At the centre of this reallocation is the rapid growth of the GLP-1 drug market, led by Eli Lilly and Novo Nordisk. With projections placing the category at $180 billion by 2030, these therapies are not merely medical interventions, they are absorbing discretionary luxury spend. A year-long GLP-1 regimen, often priced between $12,000 and $15,000, now competes directly with entry-level luxury purchases. Unlike a handbag or ready-to-wear collection, however, the perceived return is enduring. The body becomes a capital asset, reshaping consumption priorities across adjacent sectors.

This reallocation extends beyond pharmaceuticals into high-value aesthetic procedures and preventive health systems. The global cosmetic and regenerative treatment market, now approaching $60 billion, is capturing spend that historically flowed into fashion cycles. Consumers at the top end are increasingly underwriting procedures such as deep-plane facelifts and high-definition body contouring, often priced between $20,000 and $50,000 not as indulgences but as capital expenditures. The logic is straightforward: while apparel depreciates with each season, physiological enhancements appreciate over time, both socially and functionally.

Parallel to this is the rise of wellness ecosystems. Premium offerings such as Equinox’s Optimize programme, costing up to $40,000 annually combine diagnostics, performance tracking, and recovery science into a new form of subscription-based exclusivity. In this model, data replaces design as the locus of differentiation.

Table: Comparative capital reallocation

Traditional luxury Spend Cost (approx.) New elite reallocation Cost (approx.)

Chanel Classic Flap Bag $10,000 Annual GLP-1 Regimen $12,000 - $15,000

LVMH Runway Wardrobe $25,000 High-Def Body Contouring $20,000 - $35,000

VCA Alhambra Necklace $15,000 Longevity Club Membership $20,000 - $40,000

Front-Row Fashion Week Trip $30,000 Private AI/Tech Integration $10,000 - $25,000

The table showcases a clear substitution effect. Traditional luxury categories such as handbags, jewellery, and fashion experiences are being displaced by expenditures that increase the individual rather than signal affiliation. Notably, the price parity between categories underscores the competitive overlap: this is not a marginal shift but a direct contest for the same wallet.

The new status frontier

The reallocation is not confined to the body. Increasingly, wealth is being deployed toward unattainable experiences and invisible intelligence. High-net-worth consumers are favouring remote, high-touch travel, private events, and exclusive cultural access over retail accumulation.

Simultaneously, technology has emerged as a parallel status layer. Devices such as the Apple Vision Pro and bespoke AI ecosystems are repositioning tech fluency as a social differentiator. In contrast to logo-driven consumption, this new paradigm is deliberately understated, prioritising performance, access, and cognitive advantage over visibility.

Consumption without replacement

One of the more telling consequences of this shift is emerging within luxury retail itself. Anecdotal evidence from markets suggests a rise in post-purchase tailoring and wardrobe recalibration rather than new acquisitions. As consumers invest in physical transformation, existing high-quality garments are being resized and recontextualised.

This creates a paradox: while the perceived value of legacy luxury goods increases, the primary market for new collections weakens. The result is a decoupling of brand desirability from purchase frequency, a dynamic that directly pressures revenue growth for heritage houses.

The $4.5 trillion disruption

The broader context is the increase of the global wellness economy, now estimated at $4.5 trillion. As this ecosystem matures, it is encroaching on luxury’s historical monopoly over aspiration. Health, longevity, and performance are no longer ancillary, they are central to identity construction among affluent consumers. Luxury conglomerates are already responding. Investments into hospitality, wellness, and experiential verticals suggest an attempt to capture migrating spend. However, these moves remain adjacent rather than transformative.

Crossroads for heritage luxury

The competitive threat facing fashion is not cyclical, it is structural. The industry is no longer competing solely within its category but against pharmaceuticals, technology, and wellness platforms that offer a fundamentally different value proposition. The question for legacy players is whether adjacency is sufficient. As the definition of luxury shifts from ownership to optimisation, the logical extension may lie in deeper integration potentially through partnerships or acquisitions in biotech, diagnostics, or performance science. Absent this shift, fashion risks becoming a secondary layer in the hierarchy of status, complementary to, rather than constitutive of, elite identity.

China’s retail sector has entered a new phase, one defined not by aspiration, but by scrutiny. The long-standing advantage enjoyed by international brands has eroded sharply, replaced by a consumer mindset that prioritizes functionality, speed, and localized relevance over global prestige. Just a few years ago, foreign labels dominated consumer preference. In 2021, international brands commanded 78 per cent preference in beauty and nearly half the apparel market at 49 per cent. By 2025, those numbers have fallen to 37 per cent and 12 per cent, respectively. This is not a cyclical dip; it is a reset. Chinese consumers are no longer buying into brand mythology, they are buying into measurable value.

Market rewired by data

The magnitude of this shift becomes clearer when viewed across categories. The transition from international dominance to domestic preference is sweeping and consistent, cutting across industries from electronics to apparel.

The table underscores a systemic decline in what was once considered the foreign premium. Apparel, in particular, has seen one of the steepest drops, reflecting how quickly domestic brands have closed the gap in both quality and desirability. What was once a symbolic purchase decision is now a calculated one.

At the heart of this change lies the concept of juan, or involution, a state of hyper-competition where maintaining market share requires disproportionate effort. In retail, this translates into a consumer market where brands are constantly compared, dissected, and benchmarked in real time. Chinese shoppers have evolved into highly informed decision-makers. Platforms like Xiaohongshu have turned product discovery into a research-driven exercise, where fabric composition, fit accuracy, and delivery timelines are evaluated with forensic detail. Loyalty has been replaced by logic. This is not simply a wave of nationalist consumption. It reflects a maturing market where domestic brands have achieved parity and in many cases superiority in speed, pricing, and relevance.

Disappearance of the foreign premium

As domestic brands captured nearly 60 per cent preference in apparel by 2025, the traditional pricing advantage of international labels has all but vanished. The impact is most acute in the mid-market segment, where brands once relied on a balance of aspiration and accessibility. Today, discounting is no longer a tactical lever; it is a baseline expectation. Consumers have effectively decoupled foreign from better, forcing brands to justify their pricing through tangible value rather than perceived heritage.

Luxury houses, insulated by exclusivity and scarcity, remain relatively protected. However, the masstige and fast-fashion segments are caught in a squeeze, where rising competition and falling differentiation are compressing margins at an unprecedented rate.

Rise of new value champions

The shift is perhaps best seen through the rise of domestic leaders like Bosideng. Rather than competing on legacy or global image, Bosideng has focused on what can be described as ‘engineered relevance’. By combining advanced thermal technologies with designs tailored specifically for Asian body types and pricing aligned with value-conscious consumers the brand has positioned itself squarely within the emerging cost-performance economy.

This strategy has allowed it to capture a critical segment of the market: the no preference consumer. By 2025, roughly 27 per cent of shoppers fall into this category, choosing products based purely on utility and price-performance ratio rather than brand origin. This group has become the new kingmaker in Chinese retail.

Speed as competitive weapon

If value is the new currency, speed is the delivery mechanism. Chinese brands have built tightly integrated ecosystems that allow them to move from design to shelf in as little as two to three weeks. Platforms like Douyin have further reduced the cycle, merging content, commerce, and logistics into a single feedback loop.

In contrast, many global brands continue to operate on legacy supply chains with lead times stretching up to six months. This lag has become a critical disadvantage in a market where trends are fleeting and consumer expectations evolve rapidly. To remain competitive, international players are being forced to decentralize decision-making, granting local teams greater autonomy to adjust pricing, product assortments, and marketing strategies in real time.

The new reality in China is not about being global, it is about being indispensable at the local level. Superficial adaptations, such as seasonal motifs or limited-edition collections tied to cultural events, are no longer sufficient. Instead, success hinges on deep localization: investing in local R&D, building region-specific supply chains, and designing products that reflect nuanced consumer preferences. This requires a fundamental shift in operating models, moving away from centralized global strategies toward market-specific execution. Brands that fail to make this change risk entering a cycle of diminishing returns, where customer acquisition costs rise even as brand equity declines.

A market that rewards precision

Insights from Accenture highlight a broader evolution in Chinese consumer behavior. What was once a high-growth frontier driven by aspiration has matured into a highly efficient, performance-driven market.

Domestic brands now dominate across multiple categories, leveraging digital integration and rapid product iteration to stay ahead. While this environment has compressed margins, it has also raised the bar for operational excellence. Retailers are no longer competing on storytelling alone, they are competing on execution.

For global brands, the message is clear: China is no longer a market where reputation guarantees relevance. It is a market where relevance must be earned continuously, through speed, precision, and an unwavering focus on value. The era of brand blindness is over. In its place is a retail ecosystem defined by transparency, competition, and relentless consumer scrutiny. Those who adapt may still find opportunity in its scale. Those who do not will find themselves outpaced in a market that no longer waits.

A coalition of nearly 70 global fashion organizations, including H&M Group, Primark, and Vinted, has issued a formal joint statement demanding urgent policy reforms to remove systemic economic barriers hindering the growth of resale and repair services. Despite projections that the global circular fashion market could reach $393 billion by 2030, industry leaders argue that current tax frameworks remain fundamentally biased toward virgin production. Research from the Ellen MacArthur Foundation highlights, resale and repair activities, which are inherently labor-intensive, are frequently subjected to double taxation on every transaction. This structure effectively penalizes circular models, making it far more profitable for retailers to rely on linear ‘take-make-waste’ production than to invest in longevity.

Proposed policy levers for circular scaling

To bridge the profitability gap, the coalition is urging governments in the EU, North America, and Canada to implement three targeted interventions: the reduction of VAT in Europe and the elimination of sales tax on resold goods in North America; the introduction of lower labor taxes and dedicated tax credits for jobs created in repair and sorting; and the expansion of Extended Producer Responsibility (EPR) schemes to fund the necessary infrastructure for collection and sorting at scale. Industry estimates suggest that these adjustments could boost gross profit margins for resale and repair businesses by up to 55 per cent and 41 per cent, respectively. Leyla Ertur, Chief Sustainability Officer, H&M Group, emphasized, if governments are truly committed to circularity, they must stop viewing circular businesses as niche segments and start addressing the structural fiscal penalties that currently prevent these models from competing on a level playing field with traditional retail.

The Fashion ReModel initiative

The Fashion ReModel is a multi-stakeholder project led by the Ellen MacArthur Foundation to help brands and retailers scale circular business models. It explores ways to decouple growth from the extraction of new resources, focusing on the infrastructure and policy changes necessary to make resale and repair commercially viable at scale.

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" Germany-based industrial sewing and embroidery thread manufacturer Amann Group has confirmed its intent to expand factory operations and inject fresh capital into Bangladesh. Unveiled during a high-level bilateral meeting between Markus Nicolaus, Group CEO, Amann Group and Mahmud Hasan Khan, President, Bangladesh Garment Manufacturers and Exporters Association (BGMEA) signals a deepening commitment to the region’s evolving textile landscape. Rather than remaining a conventional raw material provider, the company aims to position itself as a strategic partner capable of meeting the rigorous quality standards required by premium international brands currently sourcing from Bangladesh.

Aligning with value-added manufacturing

This strategic investment aligns with Bangladesh’s industry-wide transformation, where the focus has shifted from high-volume, low-margin exports to higher-value apparel production. Khan emphasized, this expansion serves as a catalyst to attract German brands that have historically maintained a limited footprint in the country. Nicolaus expressed particular interest in Bangladesh’s high-tech textile sector, noting, the company is currently evaluating additional investment opportunities that leverage the country's growing manufacturing sophistication. This development occurs alongside critical discussions regarding infrastructure optimization, including energy supply, logistics, and port efficiency, which remain vital for maintaining the competitive edge of Bangladesh’s garment export sector as it navigates ongoing global trade headwinds and evolving international tariff policies.

Amann Bangladesh

Amann Group is a global leader in high-quality sewing and embroidery threads for the apparel, automotive, and technical textile industries. Operating in Bangladesh through its subsidiary, Amann Bangladesh, the company supports the premium segment of the market with advanced thread solutions and technological expertise to enhance garment durability and aesthetic appeal.

The fashion and apparel sector in the UK is navigating its most challenging period in nearly a year, with latest data from the Office for National Statistics (ONS) confirming, clothing sales volumes for April 2026 slumped to their lowest level since June 2025. This 2.4 per cent monthly decline underscores a broader retreat in non-essential retail, as household budgets face mounting pressure from external economic shocks. Retailers report, this contraction is not merely a byproduct of unseasonably cold weather but reflects a structural shift in consumer behavior, where shoppers are increasingly prioritizing essential expenditures over discretionary fashion purchases.

Calibrating for cautious consumption

The retail environment is currently defined by a heightened sense of consumer selectivity. As disposable incomes remain strained by energy-related inflationary pressures stemming from geopolitical instability in the Middle East, the traditional ‘seasonal refresh’ cycle has lost its momentum. Industry experts suggest, the current volatility necessitates a recalibration of inventory management. Rather than pursuing volume-driven growth, successful market participants are focusing on high-intent inventory and value-based transparency to entice a more cautious demographic. While some analysts maintain a tempered optimism for the summer months - citing the potential for uplift during major sporting events like the FIFA World Cup and Wimbledon - the immediate outlook remains subdued. For apparel brands, the mandate for the coming quarter is clear: agility in supply chain operations and precision in product placement are no longer optional, but essential for survival in a fragmented and hyper-sensitive marketplace.

A bellwether for domestic consumer confidence

The UK clothing retail sector serves as a bellwether for domestic consumer confidence, encompassing high-street giants, specialized boutiques, and dominant e-commerce platforms. Key product categories include seasonal apparel and footwear. Faced with rising operational costs and shifting economic conditions, the industry is increasingly focused on inventory optimization and omnichannel engagement strategies.

As global textile manufacturers grapple with rising energy costs and stringent environmental regulations, the industry is increasingly turning to precision-based, non-contact finishing technologies. A prominent player in industrial automation, BW Converting is set to demonstrate this technological evolution at ITM 2026 in Istanbul this June. The firm’s showcase centers on its Baldwin TexCoat G4 precision spray system, which addresses the critical need for resource optimization in high-output finishing lines.

Engineering resource efficiency

The transition from traditional bath-based immersion methods to spray-based application represents a significant leap in operational sustainability. By utilizing Precision Application Technology, the TexCoat G4 delivers chemical formulations directly onto fabric surfaces with exact calibration. This non-contact approach reduces wet pick-up by as much as 50 per cent, directly lowering the energy required for drying processes. Yiannis Vasilonikolos, Global Sales Leader – Textiles, BW Converting, notes, such innovations are critical for firms looking to reconcile high-volume output with reduced utility footprints. Mills are increasingly prioritizing consistency and cost-control; our technology allows for the precise chemical application necessary to maintain high-quality fabric standards while significantly shrinking their environmental impact, Vasilonikolos states.

Tangible production gains

The efficacy of precision finishing is increasingly supported by industrial case studies. At Zaman Textile Mills in Pakistan, the implementation of the TexCoat G4 system resulted in a 50 per cent reduction in chemical consumption alongside a 30 per cent increase in overall production throughput. The system’s capability for rapid, waste-free job changeovers further minimizes downtime, a common bottleneck in traditional finishing. Additionally, the integration of the Corona Pure surface treatment platform helps manufacturers adapt to the industry's shift toward C0 (fluorocarbon-free) chemistries by enhancing substrate absorbency and bonding performance, ensuring that environmental compliance does not come at the cost of product quality.

BW Converting provides advanced process-automation machinery across the printing, packaging, and textile sectors. As a core brand under the Barry-Wehmiller organization, it specializes in precision finishing and surface treatment technologies. The company is currently focused on enabling Industry 4.0-compliant, sustainable, and high-efficiency manufacturing solutions for global textile producers.

The denim industry is undergoing a structural shift toward high-precision manufacturing as a prominent vertically integrated producer, Soorty announces its ‘Fast Fade’ collection. Developed in strategic collaboration with Spanish technology firm Jeanologia, this initiative targets the core inefficiency of modern apparel production: the reliance on resource-heavy, manual wet processing. By engineering fabric constructions specifically calibrated for laser and dry finishing systems, the partnership seeks to standardize the transition from artisanal, manual labor to automated, high-fidelity digital production.

Operational efficiency meets authentic design

Retailers facing pressure to lower production footprints without compromising on aesthetic quality will find the development timely. Traditional denim finishing often requires repetitive manual whiskering and chemical baths to achieve vintage contrast. The Fast Fade line replaces these inconsistent labor methods with laser-ready fiber architectures. According to Alper Cataloglu, Vice President - Product Development, Soorty, the move facilitates a ‘genuine exchange’ of technical expertise, effectively bridging the gap between raw textile innovation and finished garment aesthetics. By integrating recycled cotton platforms and Tencel blends, the collection aligns premium material sourcing with manufacturing agility. The result is a consistent, scalable output that significantly reduces the chemical and water intensity historically associated with premium denim, addressing both environmental regulatory requirements and consumer demand for transparent, lower-impact apparel.

End-to-end solutions

Soorty is a Pakistan-based, vertically integrated denim manufacturer providing end-to-end solutions from fiber processing to finished garment construction. With a heavy focus on the European and North American markets, the company prioritizes circularity through its Second Life recycled cotton platform. Soorty is currently scaling its digital footprint to optimize manufacturing speed and reduce environmental impact across its global supply chain.