Shanghai-based outbound conglomerate Fosun International Ltd recently bought a controlling stake in French fashion house Jeanne Lanvin SAS. The acquisition will be carried out by Fosun and its subsidiaries, the company announced. This is in line with the target of Fosun Fashion Group established in 2015, which aims at investing globally in the fashion and retail industry. The exact investment amount and stock proportion were not disclosed, but global law firm DLA Piper has estimated the tota

On March 5th, star athletes, professional trainers, and fitness enthusiasts joined Reebok to celebrate the launch of their Fast Flexweaverunning shoe which features Flexweave, the latest cutting-edge technology developed by Reebok’sInnovationCollective, a division dedicated to the “pursuit of progression through innovation and partnerships.” The event, held at Industria Studios in New York City, was an opportunity for guests to wear-test the product during a high intensity training session le

China's exports of goods increased by 36.2 percent in February year on year to 1.11 trillion yuan ($176 billion), compared with a rise of 6 percent in January, the General Administration of Customs reported on Thursday. Imports fell 0.2 percent to 888.16 billion yuan in February. That left the monthly trade surplus to 224.88 billion yuan, an reversal from a trade deficit of 72.99 billion yuan in the same period a year ago. In the first two months, exports rose 18 percent while imports were

Trading activity remain moderate due to renewed buying interest at the lower level at the cotton market on Tuesday. However, the availability of quality cotton resulted in some trading activity. Trading on ready counter was fairly moderate as needy spinners went for quality cotton. The following deals were reported to have changed hands on ready counter: 7,000 bales, Alipur, at Rs7,000; 400 bales, Jalalpur, at Rs7,100; 2,487 bales, Rahimyar Khan, at Rs7,300; and 800 bales also, Rahimyar Khan,

Turkey, home to a major textile industry and companies that supply global fashion brands such as Zara, Adidas and Nike, imported USD 519 million worth of US cotton in 2016, according to data from the Turkish Statistical Institute. Turkey is likely to hike duties on imports of American cotton, as retaliation against potential US steel tariffs, said one of President Tayyip Erdogan's economic advisers on Tuesday. US President Donald Trump said that he would impose broad tariffs on imports of ste

Already a major driving force for the world economy, China is poised to make greater contributions with its reaffirmed commitment to economic rebalancing. In a report on government work earlier this week, Chinese Premier Li Keqiang pledged to strengthen the fundamental role of consumption in driving economic growth, open China's market wider and defend free and fair trade. Experts believe these efforts will inject new impetus into China's growth and further boost the global economy. "With

Jute and jute goods hold potential to become the next key driver of the economy as the present ones -- garments and remittance -- have little scope to contribute more in the long run, said an economist yesterday. “Bangladesh needs a new growth driver. In this case jute and jute goods can be the main driver soon,” said Hossain Zillur Rahman. The government has been favouring the garments sector over the years and should similarly give policy support on adding value to jute and jute goods an

Free Trade Agreement between the two countries Turkey and Pakistan is under-negotiation. Trade will jump once FTA is finalized. Pakistan especially Lahore is an investment hub for the Turkish investors. Turkish Ambassador Mustafa Yurdukal said that friendly and cordial relations between Turkey and Pakistan should be translated into trade and economic ties. Ambassador Mustafa Yurkukal speaking at the Lahore Chamber of Commerce & Industry on Wednesday said that the Ambassador agreed with th

The textiles ministry has so far enlisted 21 e-commerce platforms for sale of handloom products, minister of state for textiles, Ajay Tamta said in a written reply to the Rajya Sabha this week. These portals generated sales worth Rs 9.54 crore in the first 9 months of current fiscal. However, there is no government online platform for sale of handloom items. “To promote e-marketing of handloom products, a policy framework was designed under which any willing e-commerce platform with good trac

Gap Inc., a leading global retailer offering clothing, accessories, and personal care products for men, women, and children, has recorded net sales of $4.8 billion for the fourth quarter of fiscal 2017, an 8 per cent increase, with sales of $15.9 billion for full year 2017. The company’s fourth quarter fiscal 2017 comparable sales were up 5 per cent. The company’s operating margin for fiscal 2017 was 9.3 per cent compared with 7.7 per cent last year. The company’s adjusted operating margin fo