🇻🇪 It’s back to “business as usual” for Venezuela’s fashion retailers. Footfall has gradually returned to normal following the Jan. 3 US military operation which led to the capture of president Nicolas Maduro, briefly paralysing retail in Caracas and neighbouring states. In the immediate aftermath, “the city was desolate,” recalls local CNN correspondent Osmary Hernandez, “with very few people on the streets and most businesses closed.” Once Maduro ally Delcy Rodriguez was installed as interim leader with US backing, a gradual reopening followed. But the ‘parallel dollar’ fell while the bolivar’s official exchange rate rose, prompting some retailers to adjust prices. Now, the atmosphere is one of “calm tension,” says local designer and retailer Yenny Bastida, where “everyone smiles and carries on as if nothing is going on,” doing their best to maintain the appearance of “business as usual.”
Despite the uncertain political and economic outlook, fashion operators are pressing ahead with existing plans. Carlos Gerardo Marcano, VP of operations at Panama-based Grupo David, said the group is moving ahead with planned Venezuela store openings in the first quarter of the year for franchise partners including Victoria’s Secret, Adidas, Tommy Hilfiger and Clarks. Caracas-based Grupo Dumit, which already operates CH Carolina Herrera and Bimba y Lola in the country, said planned openings and activities will proceed as scheduled. Even amid last year’s US naval strikes on alleged drug-carrying vessels from Venezuela, fast-fashion brands were in expansion mode. H&M opened its first Venezuelan store in November with local partner Hola Moda at Sambil mall in Caracas while Inditex’s Stradivarius opened in October via Grupo Futura. [Graciela Martin for BoF]
🇮🇳 India’s apparel exporters warn of factory closures over US tariffs. The Apparel Export Promotion Council (AEPC) said the Indian government must conclude a tariff deal with the US swiftly, emphasising that even a 3-6-month delay could cause permanent harm to the sector, including factory closures and job losses. “To retain US customers and maintain production continuity, exporters have absorbed 25 percent price reduction equivalent to oil penalty,” said AEPC chairman A Sakthivel, in reference to US president Donald Trump’s 50 percent tariffs on India, including a Russian oil-related penalty. “This has resulted in profits getting wiped out and reserves being depleted… With threat of additional or prolonged tariffs, US buyers are withholding or cancelling new orders as they are unwilling to risk mid-cycle tariff escalation.” [Economic Times]
🇮🇩 Indonesia plans $6 billion state-owned textile and garment enterprise. The move is reportedly aimed at protecting the local industry from external shocks, such as US tariff risks and China’s dumping of cheap imports. Airlangga Hartarto, an economic affairs minister, said the new company will be managed by Indonesia’s sovereign wealth fund Danantara, with an initial funding allocation of up to $6 billion. “By establishing this new SOE, we aim to drive modernisation and strengthen the industrial backbone of our textile sector,” he said, without specifying any timeline for the launch. The local garment manufacturing sector has struggled in recent years, including last year’s bankruptcy of Sri Rejeki Isman, a former supplier to H&M, Uniqlo and Zara, leading to the layoff of more than 50,000 workers. [Kohan Textile Journal]
🇨🇱 Chile-based retail giant Falabella’s to invest $900 million this year.The group with over a hundred department stores across Colombia, Peru and Chile, and other interests in Latin America including shopping malls, home retailers and supermarkets, announced the plans days after the acquisition of its partner’s stake in Colombia. The capital will be deployed to open 17 new locations and improve existing stores, shopping centres and digital capabilities. The expansion plan includes five Falabella stores in Chile and Peru, seven Tottus stores in Peru, and five Sodimac stores in Chile and Mexico. Grupo Falabella CEO Alejandro González said in a statement that the company is “investing with discipline and focusing where it generates the most value.” [Modaes]
🇨🇳 China’s annual textile and apparel exports fall 2.42% to $293.77 billion. One of the hardest hit categories in 2025 was footwear, plummeting by 11.3 percent year over year. Clothing and accessories fell 5 percent, reflecting weaker demand in major markets such as Europe and the US, according to data from the General Administration of Customs of China (Gacc). However, the category encompassing yarns, fabrics and textile articles reached $142.585 billion last year, up just 0.5 percent on 2024 levels. [Modaes, Fibre2Fashion]
🇮🇳 Indian sneaker brand Gully Labs raises $3.2 million. The Noida-based company founded in 2023 by Animesh Mishra and Arjun Singh has secured 30 crore rupees in funding in a Series A round led by Saama Capital, with participation from existing investor Zeropearl Venture Capital. The brand, which features Indian cultural references, regional art motifs and traditional crafts on its footwear, plans to use the capital to expand its product range and test international markets. [Economic Times]
🇻🇳 Vietnam plans to shift its focus to advanced fashion manufacturing. The country’s textile and garment industry is moving from large-scale outsourcing to smaller, higher-value, high-tech orders this year, according to the Vietnam Textile and Apparel Association. VITAS chairman Vu Duc Giang recently told local media that the country has significant scope to add more value to its export products, citing the example of Garco 10 Corporation which already produces made-to-measure suits for Japan and the US. [Fibre2Fashion]
🇮🇳 Indian accessories brand Salty raises $3.2 million. The company founded in 2022 by Twishaa Gupta, Sonaal Goel and Kanishka Garg has secured the funding (30.1 crore rupees) in a round led by MG Investment, with participation from existing investors Anicut Capital, All In Capital and JK Group and new angel investors. The funding will be used to expand the New Delhi-based brand’s range of watches, eyewear, scarves and belts, and enter the bags category. [Economic Times]
🇦🇺 Australian brands are owed millions of dollars following Saks’ bankruptcy. Among the hundreds of creditors left out of pocket by the collapse of American department store group Saks Global areAustralian-founded brands Maison de Sabre and Rebecca Vallance, which are owed $550,731.02 and $174,479 respectively, according to Ragtrader. Other Australians left in the lurch are accessible luxury brands Camilla and Aje, according to the AFR. [Ragtrader, Australian Financial Review]
🇮🇳Albinder Dhindsa succeeds Deepinder Goyal as CEO of India’s Eternal. The parent of q-commerce (instant retail) giant Blinkit and food delivery app Zomato announced the leadership change following the resignation of chief executive Goyal, the group’s founder. Dhindsa is a co-founder of Blinkit. Q-commerce apps have emerged as popular channels for selling not only groceries but also health and beauty products and even basic fashion items in India’s cities. [Times of India]
🇨🇴 Reebok names Colombian musician Karol G brand ambassador. The American sneaker and activewear brand tapped the reggaeton star for its new global campaign. The singer, who has over 70 million followers on Instagram, previously fronted a campaign for Loewe’s Paula’s Ibiza collection. [FashionNetwork, BoF]
🇮🇳 India’s Raymond Lifestyle names Satyaki Ghosh chief executive. The Mumbai-based company, one of the world’s largest producers of suit fabric and a maker of men’s shirting fabric and branded apparel, has appointed the textile industry veteran who most recently served as CEO of the Cellulosic Fashion Yarn business at Aditya Birla Group’s Grasim Industries. Ghosh previously held senior roles at L’Oréal India. [Economic Times]
🇨🇳 Nike shakes up leadership teams in China, Middle East and Africa. The US activewear giant said company veteran Cathy Sparks is replacing Angela Dong as vice president and general manager of Greater China. Cesar Garcia will succeed Carl Grebert as VP/GM for the Europe, Middle East and Africa region. [Reuters, Retail Dive]
🇮🇳 Indian travel accessories e-tailer Escape Plan raises $25 million. The Bengaluru-based firm raised the funding in a round led by Jungle Ventures, with participation from Fireside Ventures and IndiGo Ventures. The company was co-founded in May 2025 by Abhinav Pathak, selling luggage, bags, wallets and the like. [Economic Times]
🌏 Levi Strauss appoints Vicky Skelton East Asia Pacific managing director. The American denim brand said the executive will move into the role from her previous position as general manager of the Canada business. Skelton has held multiple senior leadership roles across the company over 13 years. [BoF Inbox]
