Japan’s Rakuten partners with iconic streetwear label A Bathing Ape. The e-commerce giant that manages storefronts for both global and local fashion brands will use its ‘By R’ project to power the upcoming 30th anniversary show of the Japanese brand, also known as Bape, during Tokyo Fashion Week, of which Rakuten is the title sponsor. [BoF Inbox]
India’s Monte Carlo Fashions reports 20% Q1 revenue growth. The casual wear brand opened 11 new mono-brand stores across the country, adding to its current footprint of 200 stores alongside distribution to more than 1300 multi-brand outlets and e-commerce channels such as Ajio, Amazon, Flipkart, Firstcry, Myntra and Jabong. [Financial Express]
DR Congo signs a $1.9 billion deal with the UAE to develop gold mines. The agreement follows the African country’s December contract with United Arab Emirates firm Primera Group, which has a majority stake in joint ventures Primera Gold and Primera Metals, to receive export rights for artisanal ore from gold and other mines. [Al Jazeera]
PETA alleges supplier of Mongolian luxury cashmere is cruel to animals. The animal rights group investigated the treatment of goats at facilities affiliated with Lanificio Colombo, whose clients reportedly include Chanel, Dior, Gucci, Hermès and Louis Vuitton, and whose membership of the Sustainable Fibre Alliance entails animal welfare improvement projects currently being carried out in the Asian country. [Sourcing Journal]
Chalhoub Group reveals Middle Eastern beauty market insights. The owner of regional multi-brand chain Faces found in its research for the report Decoding the Beauty Consumer in the GCC that Saudi Arabian consumers are the highest spenders on makeup in the Gulf region while Kuwaitis over-index for skin care and Emirati women spend twice as much as the Gulf average on fragrances. [BoF Inbox]
China’s sportswear giant Anta picks up speed in H1. Sales at the namesake brand of Anta Sports group grew by mid-single digits in the first half of the fiscal year compared to the same period a year ago, while other brands in the group’s portfolio saw a stronger rebound, with Fila growing by mid-teens and Anta Kids, Fila Kids, Descente, Salomon and Arc’teryx growing 70 to 75 percent. [HKEx]
Korean manufacturing giant Hansae set to expand sourcing in Honduras. The company has signed an agreement with Northern Textiles, a subsidiary of GK Global located in the Central American country in a nearshoring move aiming to provide shorter lead-times for US retail giants like Target and Walmart. [Knitting Trade Journal]
Gap joins more than 60 other brands signed up to the Pakistan Accord. The agreement covering worker welfare across hundreds of factories in the South Asian country is legally binding between unions and brands, extending the International Accord for Health and Safety in the Textile and Garment Industry beyond the earlier Bangladesh Accord. [BoF]
China’s Temu launches antitrust lawsuit against Shein in US. Online bargain platform Temu has accused Shein of “unlawful exclusionary tactics” including the barring of Chinese factories it uses from manufacturing for Temu in a US federal court. Shein characterised the lawsuit as being “without merit”. [FT]
Brazil’s cotton prices surge, rebounding from their lowest levels since 2020. The Centre for Advanced Studies on Applied Economics of Luiz de Queiroz College of Agriculture confirmed the July price fluctuation amid reports that the CEPEA/ESALQ Index, a measure of cotton prices in Brazil, increased by 5.77 percent in the first two weeks of the month. [Fibre2Fashion]
Victoria’s Secret inks first Chinese designer collaboration with Rui Zhou. The American lingerie company chose the LVMH Prize winner known for her gender-neutral and body-positive label Rui-Built for a co-branded line which will be produced in partnership with local incubator Labelhood. [South China Morning Post]
Cartier appoints South Korean singer Kim Tae-hyung as global brand ambassador. The jeweller tapped the member of K-pop group BTS known by fans as “V”, who has also signed with Celine, to be the face of its Panthère line. The move is the latest in a series of partnerships between luxury brands and members of the band while it is on hiatus. [Billboard]
Bottega Veneta takes its latest runway show to Beijing. The Italian house reprised its fall 2023 show in the Chinese capital on July 20 with actors Jing Boran, Angelababy and Zhou Yutong among the audience, and a live broadcast that received a cumulative 34 million views following promotions on Weibo and Xiaohongshu. [Dao Insights]
