Fashion
Australia, New Zealand to fast track single economic market agenda

Both sides agreed to coordinate regional and global trade engagement, including joint action on World Trade Organization (WTO) reforms ahead of the upcoming Ministerial Conference, and collaboration through various multilateral agreements, a joint statement issued after the meeting said.
Australia and New Zealand recently agreed to fast-track work on a single economic market, sign a pact for regulatory and standards alignment, and deepen economic integration by strengthening the Trans-Tasman Mutual Recognition Arrangement.
Trade ministers from both sides met in Monarto, and agreed to coordinate joint action on WTO reforms and collaborate through various multilateral agreements.
New Zealand Trade and Investment Minister Todd McClay and Australian Trade and Tourism Minister Don Farrell concluded meeting in in Monarto, South Australia.
“This is about making it simpler for businesses to trade, invest and grow, not just between our two countries but across the wider region,” McClay said.
Fibre2Fashion News Desk (DS)
Fashion
Depop still loss-making but revenue surges

Published
October 7, 2025
Peer-to-peer shopping platform Depop has filed its accounts for 2024 and they show revenue jumping, although the company remains loss-making.
Revenue leapt 42% to £101.6 million last year and the operating loss narrowed from £49.1 million in 2023 to £42 million this time. The company also said the net loss was lower having shrunk from £48.6 million a year ago to £40.44 million in the latest year.
The company, which is owned by Etsy, is based in London and had 43.5 million registered users worldwide at year-end, a figure that jumped from 35 million in 2023. Those users are mainly based in its key markets of the US, the UK and Australia.
It said that around 57% of its sellers who made a sale in 2024 also made at least one purchase, demonstrating strong engagement within its user base. And nearly 94% of its gross merchandise sales (GMS) came in the apparel category.
The company added that it’s still in the early stages of its growth lifecycle with the global secondhand clothing market forecast to grow around three times faster on average than the broader clothing market through to 2028, reaching an estimated $350 billion value.
Highlights during 2024 included the evolution of the company’s fee structure that removed seller fees in the UK and US, replacing them with a buyer marketplace fee. It believes this change has made it more attractive to sellers, driving a “meaningful acceleration in listings” since being launched.
It also accelerated its GMS growth with a strong year on year increase driven by expanding its share in the US and Australia, although the UK market saw a decline. Depop was the fastest growing US online apparel marketplace during the year and it said there remains “significant headroom for further growth”. Strategic investments in the value proposition, marketing, platform enhancements, and increased seller engagement contributed to the overall improvement.
It also made advancements in AI-powered selling tools enabling listing details to be auto populated through just uploading a photo.
And it delivered its best year in paid-marketing-driven GMS powered by growth in performance marketing channels, improved ROI, and the successful scaling of mid-funnel channels to broaden its reach.
It also enhanced its trust and safety measures and launched AI-driven full detection and security features.
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Fashion
Sae-A Trading acquires Swisstex operations in El Salvador & US

Headquartered in Los Angeles, Swisstex specializes in advanced fabric knitting, dyeing and finishing processes and employs approximately 500 skilled professionals, of which about 300 are part of the acquired El Salvador operations. Swisstex’s innovations and accomplishments, with regard to wet processing, are well known throughout the industry, defining Swisstex as a global leader in sustainable textile manufacturing. The company offers specialized treatments, including moisture management, enhanced absorbency, UV resistance, and antimicrobial finishes.
Sae-A Trading has acquired Swisstex’s El Salvador manufacturing operations and US-based Swisstex Direct, expanding its capabilities in sports and performance apparel.
The acquisition strengthens Sae-A’s presence in the Americas following its Tegra integration.
Swisstex’s management and 500-member team will continue operations, ensuring innovation, sustainability, and quality across all facilities.
Through this acquisition, Sae-A Trading gains control of Swisstex El Salvador and Unique El Salvador, two highly regarded facilities known for their integrated production processes in knitting, dyeing, and finishing. These facilities utilize advanced automated technology and environmentally sustainable practices, while maintaining strong relationships with leading global apparel brands. Swisstex’s management team will remain in place post-acquisition at the Los Angeles manufacturing facility and the El Salvador facilities to be acquired by Sae-A Trading, to ensure continued operational excellence, consistent product quality, as well as continuity and commitment to its valued brand and retail partners and existing customer base.
Building on the successful integration of Tegra in 2024, this acquisition further strengthens Sae-A Trading’s production network in the Americas and advances its vision for global growth and industry leadership. Tegra is a prominent sportswear manufacturer with facilities in the United States, Honduras, and El Salvador. It aligns with Sae-A Trading’s vision for global expansion and industry leadership.
James Ha, CEO of Sae-A Trading, stated, “This acquisition marks an important milestone in our strategy to expand our global footprint and reinforce our leadership in the industry. By integrating Swisstex’s advanced production capabilities, we will better meet customer demand for innovative, high-quality apparel. Sae-A Trading brings nearly 40 years of textile industry experience, significant financial resources, extensive vertical integration, and a comprehensive global supply chain. Following the acquisition, we will invest further in technology, automation, and AI to enhance operational efficiency, increase production scale, and remain sharply focused on customer needs across all markets.”
Keith Dartley, President of Swisstex Direct, commented, “Sae-A Trading’s commitment to excellence and customer service aligns seamlessly with our own values, making them an ideal partner. We are confident this acquisition will benefit our employees, customers, and stakeholders, enabling us to effectively address future market opportunities and challenges.”
Founded in 1986, Sae-A Trading specializes in OEM/ODM apparel manufacturing and operates a highly integrated global supply chain. Its production facilities span North and Central America, including the United States, Costa Rica, Guatemala, Nicaragua, Haiti, El Salvador, and Honduras, as well as Southeast Asia, including Vietnam and Indonesia. The company emphasizes continuous innovation and exceptional service.
The selling owners were advised by Robert Rein of Rein & Associates as their legal advisor and by Servatius, O’Brien & Fong, LLP as their tax and accounting advisor.
Swisstex was established in 1996 and is a leader in knitting, fabric dyeing, and finishing. It has production sites in Los Angeles and El Salvador. The Los Angeles manufacturing facility will operate independently from the acquired Central American operations. Swisstex’s vertically integrated approach ensures exceptional quality, competitive pricing, rapid delivery, and dedicated customer service.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Fashion
AAFA writes to New York authorities on issue of PFAS in apparel laws

In its proposed PFAS restriction levels, the department suggested the introduction of limits as low as 25 parts per billion across ten specific PFAS substances for all apparel products and product components.
“This proposed restriction is not only inordinately expensive, given the number of product components in apparel products and the expense to do the additional tests across each analyte, but is also inconsistent with other state laws,” Chelsea Murtha, AAFA senior director for sustainability, wrote in the letter.
US trade body AAFA recently wrote to the New York State Department of Environmental Conservation expressing concern over the PFAS analyte restrictions at the proposed levels and urging the latter to clarify that the testing thresholds don’t apply to products made with recycled materials.
It advocated for explicit exemption from PFAS regulation for items made with at least 50 per cent recycled content.
AAFA suggested that to promote a shared regulatory landscape across the country and a commonsense approach to managing chemical exposure, the department should mirror California and adopt only its proposed Total Organic Fluorine 50 ppm limit.
“We further note that, per a recent Notre Dame study, that a total organic fluorine result of less than 100 parts per million (ppm) indicates that PFAS were not intentionally added, which is understood implicitly in California’s current 100 ppm limit,” the letter said.
Testing at the proposed specific analyte levels will create tremendous strain on the department’s resources, as well as on the manufacturers who will be responsible for testing at a granular level across everything from zipper to buttons to screen prints, AAFA observed.
A TOF-only approach—a method that measures the total amount of organically bound fluorine, or TOF, in a sample—to limiting potential PFAS exposures would be preferable given the current regulatory landscape and the overall likelihood of PFAS exposure, AAFA wrote.
Such low concentrations of specific PFAS analytes, as proposed by the department, pose a low chance of exposure and may be present in a product in trace amounts due to processes or contamination outside of the responsible manufacturer’s control, it noted.
Companies should have the capacity to rebut the presumption of intentionally added PFAS for exceeding the TOF limit posed by the department, it said.
In keeping with the department’s stated goal of promoting a circular economy through cutting down on waste sent to landfills and incinerators by 85 per cent before 2050, AAFA strongly advocated for the explicit exemption from PFAS regulation for products made with at least 50 per cent recycled content.
According to the Apparel and Footwear International RSL Management (AFIRM) Group’s consultation comments on a universal PFAS restriction in the EU, “there is currently no economically viable way for sorters/recyclers to know whether, and in what quantity, an incoming product contains PFAS, and, consequently, it is not possible to sort PFAS-containing products away from the recycling stream.”
A recycled content exemption is absolutely necessary to enable the industry’s transition to more sustainable and circular sourcing and production, AAFA added.
Fibre2Fashion News Desk (DS)
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