🇸🇦 Riyadh Fashion Week takes a step towards its status as a regional hub. The second edition of Saudi Arabia’s annual Fashion Week event was held from October 17th to 21st at three venues in the capital, including Tuwaiq Palace. Twenty-seven designer brands presented their collections on the runway, including Mona Al Shebil, Abadia, Razan Alazzouni, Kaf by Kaf, Waad Aloqaili, Yahya Albishri, Adnan Akbar, Tima Abid, 1886 and Honayda. Local celebrities and influencers such as Rojain Omran, Ahmed Malek and Karen Wazen will join international celebrities from further afield such as Thai actress Davika Hoorn and Sweden’s Elsa Hosk at shows, showrooms and gala events. I participated. While Riyadh Fashion Week’s goal is to establish “Saudi Arabia as a major global hub for fashion,” Gulf industry leaders say the event’s short-term priorities are to increase competition in the Middle East’s events sector. He suggests that the aim is to solidify its position as a regional hub in a time of increasing competition. . This year, neighboring Dubai Fashion Week moved its twice-yearly showcase to early September, putting more distance between Riyadh and Riyadh, which is held towards the end of the global fashion week calendar. Some people saw this as an attempt to do so. But while Riyadh’s regional ambitions have so far been limited by the scope of its entirely local designer roster, Dubai is far more diverse, attracting names from across the region. [BoF Inbox]
🇨🇳 Shanghai Fashion Week designers ignore economic downturn. The latest edition of the event was held from October 9th to 17th in China’s financial hub. The twice-yearly showcase kicked off with the mighty Comme Moi, with labels like Samuel Gui Yang and Ao Yes taking part, along with Angel Chen, whose return presentation after three years was praised by locals. Brands such as Short Sentence, Shushu/tong and Oude Waag One produced high-quality shows and collections despite the difficult economic environment. Other standout presentations included newcomers Office H and rising designer Ya Yi. National and international brands alike can be found at exhibitions and showrooms, Mode, Tube, Knot, Ontime Show and Lab. [Gemma A. Williams for BoF]
🇰🇷 South Korean apparel giant Sae-A opens a spinning factory in Costa Rica. The Seoul-based company, one of the world’s largest vertically integrated clothing manufacturers that supplies retailers such as Target, Walmart and Gap, has opened its third spinning mill in the country. “This expansion optimizes the benefits of CAFTA tariffs on duty-free exports to the United States and further strengthens the global textile supply chain,” said WK Kim, chairman of Saair Trading’s parent company Global Saair Group. Beyond Asia, it has left its mark near the coasts of Central American and Caribbean countries, including Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica, and Haiti. [Sourcing Journal]
🌍 Frasers Group invests in Hudson Malta to fuel African expansion. The British retail group, which oversees Sports Direct, USC, Gieves & Hawkes and Flannels, among others, is based in Malta and has an undisclosed but “significant” business with a distribution network in more than 25 African countries, including: announced that it had acquired non-controlling stock. Morocco, Algeria, Nigeria. Hudson operates stores in the southern European markets of Cyprus, Italy and soon Greece, and from its distribution hub in Malta, sells primarily mono-brands such as Nike, Converse, Calvin Klein, Tommy Hilfiger and Mango on the continent. It manages 41 stores. Hudson CEO Chris Muscat said the investment will help both companies “accelerate growth” in two key regions. [BoF Inbox]
🇧🇷 Aleksandar Herciković returns to São Paulo Fashion Week. The 58th edition of the biannual Brazil Showcase returned to Ibirapuera Park from October 14th to 21st, with additional events held at the Iguatemi São Paulo Mall and other locations in the city. The event featured 40 fashion shows and welcomed veterans such as João Pimenta, Salinas and Lily Sarti, as well as newcomers Normand and Dario Mitman. It opened with the long-awaited return of Aleksandar Herciković and Ponto Firme, and concluded with Fernanda Yamamoto. Now in its sixth edition, the Cria Costura project continued its mission to provide training in sewing, design and entrepreneurship in underprivileged communities. This issue also pays tribute to journalist Regina Guerreiro with a special exhibition showcasing items from her personal archive. [Graciela Martin for BoF]
🇦🇺Australian luxury department store Harolds goes into administration. Trade publication RagTrader cites ASIC documents showing the company owes money to more than 70 creditors, including fashion brands Balmain, Thom Browne, Vetements, Victoria Beckham and Tom. After 40 years in business, the ground-breaking retailer, with flagship stores in Sydney and Melbourne, has gone bankrupt, Rugtrader has reported. Ford, Burberry and others owe a total of A$16.3 million, while Harolds itself owes A$13.3 million. [Ragtrader]
🇮🇩 Tem is banned in Indonesia but is expected to become popular in Vietnam. The Chinese-founded ultra-fast fashion e-tailer, owned by Pinduoduo’s parent company PDD Holdings, has asked Apple and Google to remove the Temu app from their mobile stores, ostensibly to protect local producers in the Southeast Asian country. has become a target of the Indonesian government. Distributed through Temu from a Chinese competitor. However, analysts do not expect the move to affect Tem’s opening plans in other parts of the region, such as Vietnam and Brunei. [Reuters, South China Morning Post]
🇲🇽 Fashion Week Mexico will focus on menswear. Mercedes-Benz Fashion Week Mexico held its latest edition from October 15th to 18th at Autocinema Coyote in Mexico City. The showcase, which has been in existence for over 16 years, featured 18 fashion shows and a series of industry-focused talks. The event spotlighted this season’s menswear, featuring collections from Boyfriends Shirts, Cristeros, Diego Zuniga, Fabrica de Punto, Harris & Frank, Mancandy and Porfirio Leather. Starting with Giulia y Renata and concluding with Alfredo Martinez, renowned artists such as Alexia Ulibarri, Daniela Villa, Chris Goiri and Sandra Weil presented collections alongside newcomers Regina Ghio and Santosia. [Graciela Martin for BoF]
🇮🇳 India’s Reliance Retail Ventures reported a 3.5% decline in second-quarter revenue. Operating revenue at the retail arm of oil and communications conglomerate Reliance Industries fell to 66.52 billion rupees ($7.9 billion). Reliance Industries is a major player in the Indian fashion industry with various holdings such as Ajio, Tira, Vimal, Reliance Jewels, Reliance Trends and The White. Crowe, local joint ventures with brands such as Versace and Burberry, investments in Indian designer brands such as Manish Malhotra and luxury mall Geo World Plaza. After-tax profit for the same period increased by 1.28% to 2,836 million rupees ($337 million). [Economic Times]
🌍 Jumia to close Zand operations in South Africa and Tunisia. The troubled New York-listed company, which sells everything from fashion and beauty to electronics and food, has set a plan to shut down two divisions by the end of 2024. “Their contribution to our overall business is not in line with expectations… [accounting] said Francis Dufay, CEO of the pan-African e-commerce platform, which operates in Algeria, Egypt, Ghana, Ivory Coast, Kenya, Morocco, Nigeria, Senegal and Uganda. ” [BoF Inbox]
🇮🇳 Aditya Birla Digital Fashion Ventures invests in Indian brand Wrogn. The company has invested 75 million rupees (approximately $15 million) in the streetwear-inspired youth fashion brand founded by brothers Anjana Reddy and Vikram Reddy. Backed by venture capital firm Accel and cricketer Virat Kohli, the brand raised Rs 125 crore from Tmrw in June. Both ABDFVL and Tmrw are units of the Aditya Birla Group, a Mumbai-based diversified conglomerate whose portfolio includes local joint ventures with international retailers such as Reebok and Galeries Lafayette. It includes businesses and domestic holding companies such as Pantaloons, Sabyasachi and The Collective. [Economic Times]
🇦🇪 Dubai’s Gulf Islamic Investments is backing Indian shoe brand Yoho. The Sharia-compliant alternative investment firm, which manages over $4.5 billion in assets, has raised a funding round with participation from Rukam Capital and angel investors Rajeev Misra, Vijay Shekhar Sharma and Pankaj Chaddha. The company led the way and raised 27 billion rupees ($3.2 million) for new investments. A Delhi-based brand founded by Ahmad Hushsam and Singhal in 2021. [Economic Times]
🇮🇷 International Apparel Exhibition Iran Mode spotlights the denim industry. The 12th annual event, organized by Iran Textile Export Manufacturers Association (ITEMA), will be held in Tehran from October 14th to 17th, with the participation of 100 domestic producers, including Royal Gene, Parmin Gene, etc. Denim wholesale manufacturers were highlighted. According to the Textiles and Clothing Production and Export Association, Iranian denim factories produce 70 million square meters of denim annually, meeting 90% of domestic demand. [Parastoo Nabati for BoF]
🇮🇳Indian textile giant Alok Industries expects losses to widen in the second quarter. The Mumbai-based textile manufacturing giant and supplier to major Western fashion brands reported a consolidated net loss of 262.1 million rupees ($31 million) for the second quarter ended September 2024. However, the company reported a loss of 174.83 million rupees in the same period last year. . The company, jointly owned by Reliance Industries and JM Financial Asset Reconstruction, raised $845 million in March to expand and repay debt. [Economic Times]
🇮🇳 Indian jeweler Giva raises approximately $30 million in additional funding. Founded in 2019 by Ishendra Agarwal, Nikita Prasad and Sachin Shetty, the Bangalore-based brand is led by Premji Invest and welcomes new investors Epiq Capital and Edelweiss Discover Fund to raise Series B funding. The company has extended its funding round and raised an additional Rs 255 million. The retailer, which has around 160 stores across the country, raised Rs 200 crore in July as part of a Series B round led by Premji Invest with participation from Aditya Birla Ventures, Alteria Capital and A91 Partners. [Economic Times]
🇰🇼 Oud Fashion Talks will be holding its third edition in Kuwait. This year’s program includes Joana Jamil, head of fashion and beauty at Meta in the MENA region, Aya Abdelraouf and Mounaz Abdelraouf, founders of Egyptian brand Octane, and Al Tayer Group Retail Business Managing Director Khalid Al Tayer and BoF Editor-in-Chief participated as speakers. – Secretary Imran Amed. The event, led by Zainab Arabdulrazaq, founder of local fashion and beauty publication 3oud.com, is an annual industry event starting in 2022. [BoF Inbox]
🇨🇳 Dewu’s growth highlights the growing price sensitivity of Chinese consumers. Daewoo, also known by its English name Poison, was worth $10 billion last year, Hurun said. Founded by Yang Bing in 2015 as a platform to buy and resell sneakers, the e-tailer has evolved from a network of big-name sellers to a resale platform for businesses since the slowdown in the Chinese market intensified. He became a central figure in the market. [Financial Times]
🇲🇺 Campaigners are highlighting the abuse of migrant workers in Mauritius’s supply chain. According to Sheila Ahluwalia, Director of Policy and Advocacy at the U.S. Department of Labor, in connection with the U.S. Department of Labor’s assessment of the dangers of forced labor in Mauritius, Transparentem has announced that it will implement the Private Recruitment Services Act of 2023 in the African island nation. He called it “a step in the wrong direction.” A non-profit organization based on human rights and the environment. The treatment of foreign workers from Bangladesh, India, Madagascar, Sri Lanka and Nepal has been a focus of criticism. [Sourcing Journal]
🇨🇳 Chinese cosmetics brand Maogeping is joining the IPO pipeline in Hong Kong. The Chinese beauty brand founded in 2000 by eponymous makeup artist Mao Geping has reportedly filed a new application with the Hong Kong Stock Exchange. The move follows the brand’s failed attempts in the past few years to list on mainland markets, where China’s A-shares are traded, such as Shanghai and Shenzhen, FT Chinese previously reported. That’s what it means. [South China Morning Post, FT Chinese]
🇮🇳 Indian actor Rana Daggubati invests in Kingdom of White. The celebrity invested an undisclosed amount in 2021 in a men’s clothing brand with an all-white clothing concept, co-founded by Vineet Haralalka. [Entrepreneur India]
🇨🇳 Moncler holds a large-scale “Genius” event in Shanghai. The Italian outerwear brand unveiled its latest collaborations between celebrities and designers at a series of pavilions in Shanghai, aiming to shake off the downturn in the luxury goods industry. [BoF]
