Fashion
Ternua and Loreak Mendian brands change hands
Published
October 9, 2025
Basque conglomerate Ternua Group is moving forward with its insolvency proceedings, announced in June, through the sale of its Ternua and Loreak Mendian brands.
The Dikar co-operative, part of Mondragon Corporation, has acquired the group’s eponymous brand, following authorisation from Commercial Court No 1 in San Sebastián. The deal aims to safeguard the industry and the brand’s Basque roots, ensuring its continuity “within a solid, internationalised business project committed to the region.”
In a statement carried by Europa Press, Dikar stressed that this acquisition “consolidates its commitment to the region and its support for the Basque industry.”
The co-operative has not disclosed the purchase price for Ternua and noted that the deal forms part of its “diversification strategy” and “strengthens its position in the outdoor sector, where it already operates with its Columbus brand, specialising in equipment for outdoor activities.”
Incorporating Ternua into the Basque co-operative’s brand portfolio will allow “both brands to share synergies in product development, marketing, suppliers and sales channels”, the same sources said, adding that it will also bolster Dikar’s presence “in European and digital markets, and reducing its dependence on the U.S. market.”
They added that this operation likewise aims to “preserve industry, employment and the roots of a Basque brand with strong international recognition, promoting its continuity within a solid, internationalised business project committed to the region, in line with Mondragon’s values.”
Founded in 1969 and headquartered in Arrasate (Gipuzkoa), Dikar focuses on the hunting, sport shooting and outdoor sports sectors, and has two subsidiaries, one in Lawrenceville (United States) and another in Aveiro (Portugal). The head office and subsidiaries together employ more than 250 people.
Loreak Mendian also changes hands
As it proceeds with the sale of its four business units, Ternua Group has also found a buyer for its fashion brand Loreak Mendian, which it acquired in 2019. The brand will keep its roots in the Basque country: its new owner will be the Gipuzkoan company Borobitex, according to local media El Correo and El Diario Vasco.
The transaction was authorised by Commercial Court No 1 in Donostia on 15 September. Behind Borobitex, a limited company based in Irún, are three employees linked to the brand, including one of its founders, Víctor Serna.
With the sale of Loreak Mendian’s business unit, the continuity of 18 jobs is guaranteed (Ternua Group had around 180 employees at the beginning of the process).
In parallel with these two operations, the Basque conglomerate is working to ensure the continuity of its other two brands, Astore and Lorpen.
FashionNetwork.com with information from Europa Press
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Global growth is forecast at roughly 3 per cent over the medium term, down from 3.7 per cent before the COVID-19 pandemic, she noted.
“Global growth patterns have been changing over the years, notably with China decelerating steadily while India develops into a key growth engine,” IMF managing director Kristalina Georgieva recently said.
She suggested Asian economics to deepen internal trade to include more final goods and more services and press forward with reforms to strengthen the service sector and access to finance.
She was addressing the opening event of the Milken Centre for Advancing the American Dream (MCAAD) in Washington, DC.
She suggested Asian economics to deepen internal trade to include more final goods and more services and press forward with reforms to strengthen the service sector and access to finance. IMF’s analysis suggests a push for more regional integration—notably by lowering nontariff barriers—could raise gross domestic product (GDP) by 1.8 per cent in the long run, she noted.
“Comprehensive business-friendly reforms, combined with progress in building the Continental Free Trade Area, could lift the real GDP per capita of the median African country by over 10 per cent,” she observed on Sub-Saharan Africa.
She recommended Europe to consider appointing a ‘single market czar’ with real authority to drive reforms forward. “Remove border frictions in the labour market, goods and services trade, energy and finance. Build a single European financial system. Build an energy union. Complete your project. And catch up with the private sector dynamism of the US,” she added.
Fibre2Fashion News Desk (DS)
Published
October 10, 2025
Occasion wear brand Kalki Fashion has launched a 6,000 square foot flagship store in Mumbai’s Kala Ghoda with a dedicated bridal segment, featuring several private suites, and an exclusive ‘Kala Ghoda’ capsule line.
“Opening in Kala Ghoda isn’t just about unveiling a flagship, it’s about creating a space for you,” said Kalki Fashion’s CEO Saurabh Gupta in a press release. “This store is imagined as a cultural landmark where every detail is designed to make you feel part of something timeless.”
The store is housed within a heritage building and contrasts its original façade with a contemporary style interior, designed to give shoppers the feeling of traversing a gallery. With zones dedicated to bridalwear, occasion-wear, and menswear, Kalki Fashion proposes a curated shopping experience tailored to the entire wedding party.
The bridal area features family-sized private suites for fittings and trousseau planning with floor-to-ceiling mirrors offering a theatrical touch. The store also integrates technology with digital styling tools and virtual consults for brides based abroad as well as natural-light try-on suites and personalisation studios. Exclusively available at this location, Kalki’s new Kala Ghoda limited edition capsule line features garments inspired by the Mumbai district’s signature art and architecture, translating arches, heritage motifs, and gallery-inspired details into wearable looks.
“Kala Ghoda, with its blend of heritage and modernity, reflects who our customers are, rooted in tradition yet always evolving,” said Gupta. “In many ways, it feels like coming home, to Bombay, to the people, and to the stories that made us who we are.”
Copyright © 2025 FashionNetwork.com All rights reserved.
Prime Minister Pham Minh Chinh stated that Hanoi is pursuing trade deals aimed at cushioning the economy from tariff pressures imposed by its largest export market. The announcement follows estimates by the United Nations Development Programme (UNDP), which warned that US duties could reduce Vietnam’s exports to the US by as much as 20 per cent, making it the most affected country in Southeast Asia.
Vietnam expanded its export footprint from 104 countries in 2024 to 132 in 2025, even as plans are underway to pursue FTAs with new partners to cushion the impact of tariffs.
According to UNDP estimates, US duties could slash Vietnam’s exports to the US by up to 20 per cent, making it the most heavily impacted country in Southeast Asia from US tariff measures.
The US has imposed tariffs of 20 per cent on most Vietnamese goods and up to 40 per cent on items transhipped via Vietnam.
In response, Hanoi is reportedly targeting the conclusion of free trade agreements with Latin America’s Mercosur bloc and the Gulf Cooperation Council (GCC) by the end of 2025.
These moves are seen as a strategic attempt to both offset the immediate fallout from US trade actions and broaden Vietnam’s global footprint.
While FTAs are a key pillar of the response strategy, experts underline the importance of market diversification to hedge against rising geopolitical and policy risks and Vietnam’s textile and apparel sector—a core component of its export economy—has already taken steps in this direction.
According to the Vietnam Textile and Apparel Association (VITAS), the industry has expanded its export reach from 104 destinations in 2024 to 132 in 2025.
Vietnamese firms are now delivering high-quality garments to markets such as China, Russia, the Commonwealth of Independent States (CIS), and across ASEAN.
In tandem with geographic diversification, to comply with increasingly stringent standards in key export markets, Vietnamese garment manufacturers are also accelerating shifts toward green production and sustainable development. Firms are investing in advanced machinery, upgrading workforce capabilities, and moving away from traditional cut-make-trim (CMT) models to higher-value production formats such as free-on-board (FOB), original design manufacturing (ODM), and original brand manufacturing (OBM).
So, despite headwinds on account of US tariffs and global trade volatility, industry stakeholders remain optimistic about the sector’s growth potential as companies actively expand into new markets to drive exports and hedge against geopolitical risks.
Fibre2Fashion News Desk (DR)
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