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Salvatore Ferragamo registered a significant declined in adjusted operating profits in 2024, with earnings more than halved, as the Italian luxury leather goods group navigates leadership changes and market headwinds.
The Group’s adjusted earnings before interest and taxes (EBIT) declined to €35 million, surpassing analysts' consensus expectations, which were around €30 million. In 2023, the comparable figure was €79 million.
The group reported a net loss of €68 million in 2024, a stark contrast to the €26 million profit recorded the previous year.
Ferragamo's revenues declined by 4 per cent at constant currencies in Q4, FY24. The company attributed this sharp decline to a slowdown in Asian markets, particularly in China, and a challenging global wholesale environment, according to its recent earnings statement.
However, despite these challenges, the company highlighted ‘encouraging results’ from its direct-to-consumer sales, which remained flat overall in the last three months of the year.
Marco Gobbetti, CEO stepped down after a three-year tenure marked by persistent sales declines at the Florentine brand. A former CEO with Burberry, Gobbetti failed to reverse the company's downward trend.
Leonardo Ferragamo, Chairman announced full support to designer Maximilian Davis, appointed creative director in 2022. The chairman also reaffirmed the Ferragamo family's commitment to the company.
Sustainable fashion experts from Royal Melbourne Institute of Technology (RMIT) have partnered with leading brands to create comprehensive guidelines aimed at eliminating wasteful design practices and promoting durable fashion that supports reuse and recycling.
Addressing the global fashion industry's significant contribution to greenhouse gas emissions (approximately 10 per cent), the new guide, ‘Refashioning: accelerating circular product design at scale,’ outlines practical steps for makers to transition from a linear to a circular design model. This shift focuses on maximizing the lifespan of products and materials.
Professor Alice Payne, Dean, RMIT's School of Fashion and Textiles and Project Lead, emphasizes, the guide challenges traditional design thinking with actionable steps for change. It provides a systematic approach to implementing circular clothing design that all organizations can adopt, regardless of size, she says, Based on extensive industry research, the institute has created practical steps to improve the circularity of their outputs. 'Refashioning' uniquely offers a systematic methodology for both slowing the flow and closing the loop, she informs.
The new guide emphasizes considering material choices, product purpose, durability, and end-of-life options early in the design process to enable material recycling.
The guide's development was a collaborative effort between RMIT, Country Road Group brands (Country Road, Trenery, Witchery, and Politix), and independent experts Courtney Holm and Julie Boulton.
Highlighting the project's success in connecting industry, government, and academia to tackle textile waste, Matt Genever, CEO, Sustainability Victoria, says, the project is a prime example of how cross-sector collaboration can deliver impactful results in the transition to a circular economy
The guidelines were rigorously tested on actual products by design teams across the Country Road Group, ensuring their practical application. Erika Martin, Head –Sustainability, Country Road Group, states, the project has fostered a common understanding and approach to circular design across their brands.
The guide was co-authored by Alice Payne, Yassie Samie, Jenny Underwood, Saniyat Islam, Rebecca Van Amber, and Regine Abos from the RMIT.
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.”
Vietnam’s textile and apparel (T&A ) exports increased by 9.3 per cent to $5.634 billion in the first two months of the fiscal year, as per a report by the General Statistics Office (GSO).
As per this report, the garment and textile exports from Vietnam to the US continue to grow with domestic enterprises having secured export orders until the second quarter of the year. The market share of these enterprises is also expected rise in the coming times.
Hoang Manh Cam, Deputy Chief, Office of the Board of Directors, Vietnam Textile and Garment Group, points out; the new tariff measures by the United States tariff are not directed towards Vietnam, which is the least vulnerable country in the ASEAN region
However, their business is expected to slow down from the third quarter of the year as customers monitor the impact of US tax policies on the economy.
Experts advise Vietnamese textile and garment enterprises to enhance compliance with origin regulations under the Uyghur Forced Labor Prevention Act (UFLPA) of the United States.
Capitalizing on recent US policy changes that have raised tariffs on competitors like China, Mexico, and Canada, India has a prime opportunity to significantly increase its textile and apparel (T&A) exports to the US, states a recent report by the Confederation of Indian Textile Industry.
As per this report, accounting for 28.5 per cent of exports between January - November 2024, the US is India's largest destination for T&A exports. In 2024, T&A exports from India to the US increased to $10.8 billion, while India’s imports from the US exports were only $0.41 billion. Notably, India primarily imports fiber, with cotton comprising 50.6 per cent of US T&A exports. India's exports to the US are dominated by apparel and home textiles, representing 81.5 per cent of shipments.
Third-largest T&A supplier to the US, India holds a 10.8 per cent market share of the $118.4 billion US import market, trailing China (25.6 per cent) and Vietnam. However, US imports from China have declined at a 9.4 per cent CAGR over the past five years (2020-2024), while imports from India have grown at a 9.1 per cent CAGR, indicating a significant growth opportunity.
To maximize this advantage, India should pursue a Zero-for-Zero trade agreement with the US for T&A products, while implementing safeguards for sensitive items, suggest the CITI report.
The report states, a zero-duty structure would level the playing field for Indian exporters, especially against Vietnam, which enjoys duty concessions. Further it adds, reduced tariffs could boost India's T&A exports to the US to $16 billion within three years while a duty-free access mechanism with quota safeguards could balance cotton imports from the US.
Through strategic negotiations and strong industry-government collaboration, India is well-positioned to capitalize on this transformative opportunity in the US T&A market, the report concludes.
Driven by increasing demand, the cotton yarn market in Asia-Pacific is poised to grow at a CAGR of 0.5 per cent from 2024-2035, reaching a volume of 19 million metric tons by 2035.
As per a report by IndexBox, the value of this market is expected to grow at a CAGR of +1.3 per cent over the same period, reaching $72.7 billion by 2035.
In 2024, Asia-Pacific's cotton yarn consumption stabilized at approximately 18 million metric tons, with a market value of $62.8 billion, remaining relatively unchanged from the previous year.
The top three consuming nations in 2024 included China (7.4 million metric tons), India (4.7 million metric tons), and Pakistan (3.4 million metric tons). Together, these three nations accounted for 88 per cent of world’s total consumption. India experienced the most significant growth in consumption of cotton yarn from 2013 - 2024, with a CAGR of +8.5 per cent, while growth in China and Pakistan was more moderate.
In terms of market value, China led with $30.4 billion, followed by India ($15.2 billion) and Pakistan. India also achieved the highest average annual value growth rate of +8.0 per cent from 2013- 2024.
Production of cotton yarn in the Asia-Pacific region remained stable at 18 million metric tons in 2024, with an estimated export value of $61.7 billion . The leading producers were China (6.2 million metric tons), India (5.8 million metric tons), and Pakistan (3.7 million metric tons), collectively accounting for 87 per cent of total production.
China was the largest importer of cotton yarn in 2024, with 1.5 million metric tons, representing 59 per cent of total imports. South Korea and Bangladesh followed, accounting for 28 per cent combined. In terms of import value, China also led with $3.5 billion.
India and Vietnam were the top exporters in 2024, each exporting approximately 1 million metric tons, representing 37 per cent and 34 per cent of total exports, respectively. In terms of export value, India with an export value of $3.4 billion, Vietnam with $2.8 billion, and China with $1.1 billion worth of exports dominated, accounting for 83 per cent of total export value.
The UP government has launched several key initiatives to strengthen its textile and handloom sectors, benefiting weavers and entrepreneurs. It has allocated Rs 300 crore for establishing textile parks under the PM Mitra Yojana in the state. These state-of-the-art parks will integrate modern technology, reduce production costs, and enhance the industry’s competitiveness, positioning Uttar Pradesh as a leading textile hub on national and global platforms.
In another significant movement, the government has launched the Uttar Pradesh Textile-Garmenting Policy 2022 with an investment of Rs 150 crore earmarked in Budget 2025-26. Launched with an objective to accelerate the growth of the textile and apparel industry in the state, this policy aims to transform Uttar Pradesh into a major apparel manufacturing centre by, attracting investment and fostering entrepreneurship. It aims to develop the state into a textile powerhouse by creating a conducive environment for traditional weavers and emerging entrepreneurs
The UP Government has also introduced the Atal Bihari Vajpayee Powerlooom Flat Rate Scheme to address the challenges faced by powerloom weavers. Launched with a with a budgetary provision of Rs 400 crore, this initiative will help reduce production costs for weavers and boost their incomes by providing affordable electricity. The scheme aims to make the powerloom sector more competitive by addressing critical industry challenges.
Marking a new era for Uttar Pradesh’s textile, handloom, and apparel industries, these initiatives by the Yogi government are paving the way for a self-reliant textile sector while generating employment for lakhs. Emphasizing on the government’s commitment to revitalising the textile industry, these initiatives are helping foster innovation, boost productivity and create a favorable growth environment in the state.
Global apparel retailer Uniqlo is set to launch its highly anticipated Uniqlo U Spring/Summer 2025 collection on March 21, 2025. Designed by Christophe Lemaire and Sarah-Linh Tran, Co-Artistic Directors, the collection embraces a light and refreshing aesthetic, perfect for warmer weather.
Emphasizing soft pastel colors, including cream, yellow, grey, and white, the collection signals the arrival of spring. It features a vibrant pop of the color purple in key items like the Denim Bermuda Shorts and Shoulder Bag, adding a modern, eye-catching accent.
Prioritizing comfort and ease of movement, the collection incorporates lightweight fabrics ideal for layered styling. Exemplifying this approach, the Supima Cotton Sheer Long T-shirt and Oversized T-shirt offer versatile options for summer layering.
The collection also offers utility-focused items a like the men’s Hooded Blouson and women's Cotton Hooded Coat, both featuring adjustable hoods and striking silhouettes. Besides, it includes practical accessories, such as the water-repellent Shoulder Bag and UV Protection Hat for everyday comfort and functionality.
Featuring 20 women's items, 24 men's items, and three accessories, Uniqlo U SS25 collection is mostly designed to be genderless, reflecting a modern approach to fashion. The collection offers a blend of style, comfort, and practicality, making it a must-have for the upcoming season.
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.
