Worldview: Latin American Swimwear Brands Go Global

🇨🇴 Latin American designers descend on Miami Swim Week. Inexmoda, the organiser of Medellin-based Colombiamoda, has partnered with Paraiso to participate within the newest version of the US-based swimwear showcase, to characteristic Colombian manufacturers Piel Canela, Champlevé, Be Surreal, Acquerello, Coco Blanco, Bless, Zelma, Rosa Pistacho and Wanitta on the occasion from Might 29 to June 5. “We wish to inform the world about our capabilities and what we’re for the worldwide vogue business,” mentioned Sebastián Díez, Inexmoda government president. “Colombia is changing into one of the vital attention-grabbing and quickest rising locations for vogue and creativity in swimwear and resort put on,” added Natalija Dedic Stojanovic, co-founder and inventive director of Paraiso Miami Swim Week. Different Latin American manufacturers becoming a member of world corporations on the runway included Latal x Moda Peru and Colombian veteran Adriana Fernandez. [FashionNetwork, Fashion United]

🇮🇳 Footwear giant Bata India reports 3% quarterly profit decline. The Gurugram-based firm manufacturing and retailing namesake Bata and types like Energy and North Star has posted 63.6 crore rupees ($7.6 million) in web revenue towards 797.8 crore rupees in income, up 2.5 % year-over-year, for the January-March 2024 interval. The India unit is a part of Bata Company, a Swiss-based multinational group with greater than 32,000 staff promoting 150 million pairs of sneakers yearly throughout 70 nations, manufacturing in 21 factories throughout 18 nations. Based in 1894 by Tomas Bata within the Austro-Hungarian Empire (in modern-day Czech Republic), the mass market model has turn out to be a family identify in rising markets throughout Asia, Latin America and Africa. [Economic Times, BoF]

🇦🇪 Most smuggled African gold goes to the United Arab Emirates, claims report. The UAE accounts for 93 % of undeclared African exports, amounting to tens of billions of {dollars}, with subsequent two largest importers being Switzerland and India, in keeping with a latest report by NGO Swissaid. Mali, Zimbabwe and Côte d’Ivoire have the biggest volumes of undeclared gold manufacturing on the continent and far of the illicit commerce linked to cash laundering stems from artisanal mining. Dubai, well-known for its jewelry souks, is likely one of the world’s largest gold buying and selling hubs, with 20-40 % of worldwide shares passing by town yearly, in keeping with 2021 International Gold Conference figures. [Financial Times, BoF]

🇺🇬 Uganda’s second-hand clothing sellers are going out of business. The Uganda Sellers in Used Clothes and Sneakers Affiliation’s vice chair Lydia Ndagire has mentioned that threats by European nations to limit the export of mitumba (used garments) to the East African nation and rising import prices from the US as a result of finish of the African Progress and Alternative Act (AGOA) preferential commerce settlement over Uganda’s crackdown on homosexuality are driving folks out of enterprise. “We’re seeing most of our members drop off,” she mentioned. The Owino market alone within the capital Kampala is estimated to supply livelihoods for 100,000 folks, principally ladies. [Foreign Policy]

🌍 Report highlights African jobs created by used clothing trade. A report overlaying Angola, Guinea-Bissau, Malawi, Mozambique and Zambia, commissioned by worldwide improvement community Humana Individuals to Individuals, has concluded that the sector in these 5 nations is more likely to assist over 2.5 million folks, producing over $73.5 million yearly in tax revenues which helps fund important public companies and infrastructure. Difficult studies on the contrary, it additionally claims that the expansion of used clothes imports from the International North is just not a major driver of the decline of native textile manufacturing in these nations. [Kohan Textile Journal, Ecotextile News]

🇮🇳 Indian eyewear retail chain Lenskart raises $200 million in funding. The Gurugram-based firm has secured secondary funding from Singapore’s state-owned conglomerate Temasek and Constancy Administration and Analysis Firm, in a spherical that possible put its valuation at about $5 billion, in keeping with business sources. Based in 2010 by Peyush Bansal, Amit Chaudhary and Sumeet Kapahi, Lenskart has over 1,100 shops throughout India and the Center East. [Business Standard]

🇨🇳 Swiss watch exports to China fall less sharply in April. Exports to mainland China fell 7.5 % in April, an enchancment on the again of a three-month transferring common decline of 20.6 %, whereas exports to Hong Kong elevated 2 %, enhancing from a three-month transferring common decline of twenty-two.6 %. Nonetheless, general “Chinese language import knowledge exhibits weakening, with imports of valuable steel jewelry and watches each down greater than 50 % year-over-year in April,” in keeping with evaluation by Jefferies Analysis. [BoF]

🇮🇳 Indian activewear firm Techno Sport secures $25 million investment. The Bengaluru-based efficiency put on and athleisure producer based by Sunil Jhunjhunwala, Puspen Maity and Sumit Santhalia which trades beneath the model identify Technosport within the India, South Africa and the UAE markets, has raised the funding from Mumbai-based enterprise capital agency A91 Companions, based by former Sequoia Capital India (now Peak XV Companions) companions Abhay Pandey, VT Bharadwaj and Gautam Mago. [Economic Times]

🇨🇳 High-profile Chinese couture client condemns Giambattista Valli. Lu Min, referred to as Lulu, who has over a million followers throughout Chinese language social media platforms and an area in Shanghai known as Maison Lulu that shows her high fashion assortment, has accused the Italian model of lending a pattern of the identical costume she claimed to have paid a deposit for to British actress Anya Taylor-Pleasure in Cannes. Her put up claiming that the model broke unstated business guidelines went viral on Xiaohongshu Responding to the claims featured in a report by WWD, a spokesperson for the model defined that: “with out… specification [for exclusivity at the time of order] and the down cost of the exclusivity payment, the piece could also be made accessible to different shoppers.” [Jing Daily]

🇮🇳 Indian apparel exporter Gokaldas Exports posts 54% Q4 revenue growth. The Bengaluru-based firm using over 32,000 folks throughout twenty manufacturing items has reported consolidated income of 818 crore rupees ($98 million) within the quarter ended March 2024, in comparison with 530.1 crore rupees in the identical interval final yr. Managing Director Sivaramakrishnan Ganapathi mentioned, “We overcame pricing strain, one-time acquisition value, elevated statutory minimal wages and one-time start-up value at our new unit to ship a robust EBITDA.” [Economic Times, The Hindu]

🇵🇰 Pakistan’s textile exports decline but yarn and cotton exports increase. The nation’s Bureau of Statistics has reported that exports of textile merchandise amounted to $13,683.251 million through the first ten months of the present monetary yr (July 2023- April 24), down 0.19 % in comparison with the identical interval final yr. Nonetheless, the cotton yarn and uncooked cotton export segments each elevated. [Associated Press of Pakistan]

🇦🇷 Argentine apparel manufacturer Textilcome closes two factories. The Buenos Aires-based firm that produces for native and regional manufacturers like Grisino, Cristóbal Colón and Cheeky has shuttered amenities within the provinces of La Rioja and Catamarca, ensuing within the dismissal of 267 staff, in keeping with native media DiarioAr. [FashionNetwork]

🇮🇳 India’s WHP Jewellers reportedly secures $10 million investment. The Mumbai-based on-line gold and diamond retailer based by Aditya Pethe that sells direct-to-consumer and thru third-party platforms Nykaa, Ajio, Amazon, Flipkart and TataCliq has raised the capital in its first funding spherical from an undisclosed Singapore-based funding agency. [Asian News International, India Retailing]

🇯🇵 Christian Dior appoints Japanese and other athletes as ambassadors. Alongside a number of athletes from North America and Europe, the French luxurious model has tapped Japanese fencer Misaki Emura, Australian swimmer Emma McKeon and Jamaican sprinter Elaine Thompson-Herah to be a part of its model ambassador “crew” for the upcoming Paris Olympic and Paralympic Video games. [Ragtrader]

🇮🇳 Traditional Indian fashion retailer Libas raises $18 million in funding. The New Delhi-based womenswear model based by Sidhant Keshwani distributed on Flipkart, Myntra and thru greater than 10 mono-brand shops has secured 150 crore rupees in funding from Mumbai-based personal fairness agency ICICI Enterprise. [Economic Times]

🇨🇳 Hong Kong retail sales fall 14.7% in April. In keeping with authorities knowledge, the decline within the Chinese language metropolis’s retail gross sales was partly because of a fall in customer spending and a surge in outbound journeys through the Easter holidays. April gross sales fell to HK$29.6 billion ($3.79 billion) following a 7 % drop in March. [Reuters]

🇮🇳 Indian jeweller Sky Gold sees annual profits double. The Navi Mumbai-based firm producing light-weight 18- and 24-carat gold jewelry has posted web revenue of 40.5 crore rupees ($4.8 million) within the 2023-2024 fiscal yr, in comparison with 18.6 crore rupees a yr earlier. [Economic Times]

🇧🇷 L’Oréal Group names Marina Torres as head of luxury division for Brazil. The French magnificence big has tapped the previous common supervisor of fragrances within the journey retail Americas crew to be liable for managing manufacturers within the division reminiscent of Lancôme, Giorgio Armani and Yves Saint Laurent. [FashionNetwork]

🇨🇳 Prada taps Chinese actress and film director Jia Ling as brand ambassador. The Italian luxurious model has appointed the comedic actress and director of movies like “Hello Mother” and “Yolo” to seem in its newest native marketing campaign. [China Daily]

🇹🇭 Gucci appoints Thai actor and singer Billkin as brand ambassador. The Italian luxurious model has tapped the star of TV sequence like “I Promised You the Moon” (whose actual identify is Putthipong Assaratanakul) for an endorsement deal. [BoF Inbox, L’Officiel Philippines]

🇨🇳 Zhao Guangxun is appointed president of Chinese brand Maia Active. Anta Sports activities, which acquired the athleisure model in October, has tapped Zhao, the group’s former vp of retail operations at Anta, who will report reporting on to CEO Xu Yang. [Jing Daily]

🇧🇷 Brazilian beauty giant Natura appoints singer Iza as brand ambassador. The corporate has tapped the Brazilian pop and R&B singer Isabela Cristina Correia de Lima Lima, whose stage identify is Iza, to seem in a marketing campaign and endorse chosen merchandise. [FashionNetwork]