Worldview: Moscow Style Week Pivots to Asia, Africa and Latin America

🇷🇺 Moscow Style Week Pivots to Asia, Africa and Latin America. The biannual showcase based in 2022 by native agency Style Basis to interchange Mercedes-Benz Russian Style Week came about from Mar 1 to eight within the Russian capital. The latter occasion ceased operations shortly after US-led sanctions had been imposed on Russia by G7 and different western international locations over Russia’s invasion of Ukraine. With the Russian style business more and more remoted from its counterparts in Western Europe and North America, commerce occasions like Moscow Style Week now not host many manufacturers from these areas. As an alternative, organisers have doubled down on the home market and altered tack with their worldwide technique. This season, they offered Russian designers with alternatives to realize publicity from press invited from international locations throughout Asia, Africa, the Center East, Latin America and the Eurasian Financial Union zone — and so they invited designers from these areas to point out in Moscow and do enterprise with Russian patrons. Final yr’s inaugural version of the Style Basis-led BRICS+ Style Summit took an identical method. [BoF Inbox]

🇬🇭 Northshore Attire Ghana is constructing an $11 million garment manufacturing facility. The Ghanaian agency has began development of an expansive cut-and-sew manufacturing facility the Northern Area of the West African nation, concentrating on each home and abroad markets. NAG is led by chief government Nurideen Mohammed, who additionally serves as the pinnacle of ECOWAS markets at US-based Do The Proper Factor (DTRT) Attire, a producing enterprise working in Accra and Tema, Ghana. [Fibre2Fashion]

🇨🇳 Chinese language magnificence group Yatsen Holding posts 6.7% This fall income rise. The Guangzhou-based father or mother firm of make-up and skincare manufacturers together with Good Diary and Eve Lom has recorded internet revenues for the fourth quarter of 2023 of 1.07 billion yuan ($151.1 million), up from 1.01 billion yuan for the prior yr interval. Huang Jinfeng, founder and CEO of Yatsen attributed the expansion to “stable performances from Galenic, Dr. Wu and Eve Lom manufacturers.” [BoF Inbox]

🇮🇳 India’s Alok Industries raises $845 million to increase and repay debt. The Mumbai-based textile manufacturing big and provider to main western style manufacturers has raised 7,000 crore rupees from father or mother firm Reliance Industries, Axis Financial institution and State Financial institution of India, in keeping with firm disclosures and folks with data of the matter, to fund growth plans and repay high-cost debt. [Economic Times]

🇨🇳 US Congressional Listening to reveals security issues for Chinese language imports. Testifying on the listening to, James Joholske, director of the Workplace of Import Surveillance on the US Client Product Security Fee (CPSC), mentioned that the rise in direct e-commerce shipments from small suppliers in China “presents important challenges to… our skill to cease harmful merchandise earlier than they enter the stream of commerce [because the CPSC] receives restricted knowledge.” Defective items might embrace attire made with poisonous chemical compounds. [Sourcing Journal]

🇱🇰 Sri Lankan style exporters introduce digital product passports. The nation’s attire producers have united to associate with worldwide organisations to supply common QR code tags that may assist stakeholders monitor the origins of all attire gadgets by displaying provide chain traceability info and the supplies used for the product, in anticipation of regulatory laws enacted in vacation spot markets within the years forward. [Sourcing Journal]

🇮🇳 Indian underwear model Bummer raises $1.1 million in funding. The DTC model based by Sulay Lavsi in 2020 has secured an funding of 9.25 crore rupees in a Pre-series A1 spherical from Gruhas Collective Client Fund by means of the Gruhas enterprise capital agency backed by Abhijeet Pai and Nikhil Kamath. The corporate had beforehand raised 5.5 crore rupees in seed funding from Aman Gupta, the entrepreneur behind electronics model Boat, and Singapore-based enterprise agency Beenext Asia. [Economic Times]

🇨🇳 Chinese language dwell commerce specialists prepare US streamers to promote on TikTok. Chinese language livestreaming studios branching out within the US and native digital advertising and marketing businesses, akin to New York-based CHC Style Group, have been recruiting American livestream sellers and coaching them with help employees from China utilizing a Chinese language language playbook for TikTok sister web site Douyin and different social commerce platforms that has been translated into English. [Rest of World]

🇿🇦 South Africa’s Shoprite Holdings studies a 7.6% rise in half-year revenue. The Cape City-based mass market retailer, which has greater than 3,500 shops throughout the African continent, mentioned group gross sales rose by 13.9 p.c to 121.1 billion rand ($6.35 billion). The corporate, Africa’s largest grocer, sells attire on-line by means of its namesake Shoprite chain and opened a specialist clothes chain final yr known as Uniq. [Reuters]

🇦🇺 Australian Style Council appoints Jaana Quaintance-James as CEO. The organisation has named the previous chief sustainability and sourcing officer at International Style Group, father or mother firm of native e-commerce main The Iconic and two marketplaces in Latin America and Southeast Asia, as its new chief. Quaintance-James, beforehand an moral sourcing supervisor at luxurious division retailer chain David Jones, replaces Leila Naja Hibri who exited after 4 years within the position. [BoF Inbox, Ragtrader]

🇨🇳 China’s Alibaba Group to speculate $640 million in Hong Kong movie business. The e-commerce big has earmarked HK$5 billion (US$ 640 million) in funding for Hong Kong’s movie and TV business tasks by means of its video internet hosting service Youku, movie firm Alibaba Footage and different companies in its digital media and leisure group division. [BoF Inbox, Variety]

🇮🇳 Indian prime minister Narendra Modi hails Bharat Tex commerce occasion. Organisers of the colossal textile commerce present, which concluded in New Delhi earlier this month, secured Modi to inaugurate proceedings. “Right this moment, India is without doubt one of the largest producers of cotton, jute and silk on the earth,” he mentioned, characterising the occasion as a “important milestone in selling India’s wealthy textile heritage.” [Times of India, Sourcing Journal]

🇨🇳 Christian Dior faucets Chinese language actress Lin Yun as model ambassador. The French luxurious home has reportedly partnered with the movie and tv star, additionally identified by her English identify Jelly Lin, and invited her to seem at an occasion for its new high-end jewelry and watch assortment. [Jing Daily]

🇧🇷 L’Oréal Professionnel names Bruno Oliver as its new Brazil ambassador. The skilled hair merchandise division of the French magnificence conglomerate has tapped the hairdresser and proprietor of Oliver Magnificence Middle within the South American nation. [FashionNetwork Brasil]

🇨🇳 Lacoste faucets Chinese language entertainer Wang Yibo as international model ambassador. The French style model has partnered with the actor and member of the Ok-pop boy band Uniq. [Global Travel Retail Magazine]