ð¨ð³ Chinaâs JD.com presents Asian brands at London Fashion Week. As the British Fashion Councilâs official Asian online retail partner, the e-commerce major showcased brands Ellasay, Marisfrolg, Pure Tea and Hazzys at London Fashion Week. Caroline Rush, CEO of the BFC said the partnership will facilitate âsmoother collaborations across borders [and] amplify [London designersâ] exposure in the crucial Chinese market.â JD.comâs president of fashion Sherrin Kong said: âby leveraging our robust supply chain capabilities, we are excited to⦠continue our role as a gateway connecting the global fashion community with Chinese consumers.â [BoF Inbox]
ðºð¿ Uzbekistan crosses key threshold, moving up the cotton value chain. The Central Asian nation, which is one the worldâs top 10 cotton producing countries, has started importing raw cotton to make finished products after it reached the point where it processed all the fibre it produces domestically. âOur reforms in this area have won the recognition of prestigious international organisations and the boycott on Uzbek cotton was lifted. We are continuing cooperation in this direction with the international coalition Cotton Campaign,â said Uzbekistanâs president Shavkat Mirziyoyev. [Fibre2Fashion]
ð¨ð³ Typhoon Bebinca disrupts operations at Shanghai, Ningbo ports. Shanghai and has been hit by its strongest typhoon in 75 years, making landfall on Chinaâs east coast early Monday, as reported by state media. This forced container vessels to avoid the two major ports. Before Typhoon Bebincaâs arrival, the Port of Shanghai experienced a 56 percent reduction in container vessel port calls from Friday to Saturday. This was followed by a more significant 95 percent decrease on Sunday. As of Monday, both Shanghai and Ningbo ports were operational but facing âheavily disrupted operations,â according to Seaexplorer. [Sourcing Journal]
ð®ð³ Jaimin Gupta acquires majority stake in Aarvee Denims and Exports. Jaimin Gupta, the founder of the menâs fashion brand Barcelona, along with other investors, has acquired a majority stake in Gujarat-based Aarvee Denims and Exports. Last week, Aarvee announced the approval of a share purchase agreement to sell 1.42 crore shares to Jaimin Gupta, Tarachand Agrawal, and Qmin Industries. [Economic Times]
ð®ð³ Beauty retailer Purplle clocks 43% rise in FY24 revenue to 680 crore rupees. The companyâs consolidated net loss reduced by 46 percent, dropping to 124 crore from 230 crore rupees in the previous year. Total expenses climbed to 850 crore rupees in FY24, up from 738 crore a year earlier. [Economic Times]
ð§ð· Brazilian cotton prices oscillate amid market challenges in September. Cotton prices in Brazil experienced fluctuations in the early part of the month due to ongoing challenges in reaching agreements on prices and batch quality in the domestic spot market, according to the Centre for Advanced Studies on Applied Economics (CEPEA). [Fibre2Fashion]
ð®ð³ PN Gadgil Jewellers raises 330 crore rupees from investors ahead of IPO. The company has secured the funds from anchor investors, including HDFC MF, Tata MF, Edelweiss MF, LIC MF, Invesco India, and Citigroup, by allotting 68.74 lakh shares to 25 investors ahead of the public issue opening on Tuesday. [Economic Times]
ð®ð³ Jewellery brand Trisu completes pre-seed funding led by All In Capital. The brand with headquarters in Gurgaon and a manufacturing facility in Jaipur has completed its first pre-seed funding round, led by early-stage venture capital firm All In Capital with participation from JK Tyres, Amaanta Group, and angel investors Himanshu Aggarwal and Sumer Sethi. [Economic Times]
ð¨ð³ Germany considers introducing regulations to restrict Chinese e-tailers. German regulators are reportedly drafting regulations that could affect international e-tailers including China-founded ultra-fast fashion players like Shein, Temu and AliExpress to ensure a more level playing field between them and European companies. [Sourcing Journal]
ð¹ð Prada names Thai actress Toey Jarinporn Joonkiat as brand ambassador. The Italian luxury brand has tapped the film and television star with more than 7 million followers to endorse its products. [BoF Inbox]
