Fashion
CITI YEG names Ganeriwal chairman & Goenka vice chairman
Shailesh Goenka, director, Texport Industries, has been elected as the vice chairman of the Group for the same period.
CITI’s Young Entrepreneurs Group has elected Gautam Ganeriwal, executive director of Sitaram Spinners, as chairman and Shailesh Goenka, director of Texport Industries, as vice chairman for 2025–27.
The elections were held at the YEG AGM in Mumbai on December 18, 2025, with appreciation expressed for outgoing chairman Rajjnish Aroraa’s leadership and contributions.
The elections were held during the Annual General Meeting (AGM) of CITI YEG, which took place in TEXPROCIL, Mumbai on December 18, 2025, with active participation from young entrepreneurs representing various segments of the textile industry.
CITI YEG also placed on record its sincere appreciation and thanks to Rajjnish Aroraa of Dicitex Furnishings for his exemplary leadership and valuable contribution during his tenure as outgoing chairman. Under his guidance, the Group strengthened its engagement, initiatives, and impact across the textile industry, CITI said in a release.
Ganeriwal brings rich industry experience and a progressive outlook to his new role. As chairman, he will lead the Group’s efforts in promoting innovation, entrepreneurship, sustainability, and leadership development among the next generation of textile industry leaders.
Shailesh Goenka, as vice chairman, will support the Group’s initiatives and contribute towards strengthening member engagement and industry collaboration.
CITI Young Entrepreneurs Group serves as an important platform for nurturing future leaders of the Indian textile industry through networking, knowledge sharing, and policy engagement.
Gautam Ganeriwal is the executive director of Sitaram Spinners, a well-established textile manufacturing company. With hands-on experience across operations, strategy, and sustainability initiatives, he represents the new generation of textile leadership focused on innovation, efficiency, and responsible growth. He has been actively involved in industry forums and initiatives aimed at strengthening the competitiveness of India’s textile sector.
Shailesh Goenka is director at Texport Industries, a leading integrated textile and apparel manufacturing company. He brings strong expertise in exports, supply chain management, and business development. Actively engaged with industry bodies, Goenka has been a strong advocate for modernisation, global market expansion, and collaboration among young entrepreneurs.
Fibre2Fashion News Desk (HU)
Fashion
Marita Moreno launches limited-edition Michone Viana boots, crafted by certified artisans
Published
December 22, 2025
Six of the seven pairs of Marita Moreno’s handmade boots, 100% Made in Portugal, are now available. Named Michone Viana to celebrate “the Minho textile tradition through a unique history of craftsmanship,” they are the latest creation from Portuguese designer and cultural manager Marita Setas Ferro, a Mozambique-born creative long recognised for her work at the intersection of sustainable fashion, textile sculpture, and craft. This recognition is due in large part to the singular creations of her accessories and footwear brand, founded in 2008 after she obtained a master’s degree in Sculpture from FBAUP (Porto), alongside postgraduate studies in Cultural Management at ISCTE (Lisbon) and in Design and Marketing at the University of Minho (Braga), as well as training in Fashion Design at CITEX (Porto).
“These boots are a highly exclusive run of seven pairs made from the artisanal weaving used for the traditional Viana costume,” she tells FashionNetwork.com. “Because they were cut from the skirt, each pair is unique in the pattern and colours it displays.”
For sale, “we have six pairs, in sizes 36 to 41, priced at €260.” They can be purchased online on Marita Moreno’s website or, for those who want to try them on, “we can leave them at Cru or UsoLuso (Porto) or send them to the Rita Salazar Store (Lisbon) for a more personal experience,” she adds.
The name Michone Viana (often “Nina”) comes from the Portuguese artisan and creator frequently associated with Viana do Castelo, whose work is distinguished by the preservation and reinvention of Portugal’s textile and craft heritage, reinterpreting traditional elements such as Lenços de Namorados and typical embroidery, or creating accessories like bags, purses, and key rings.

The connection between Michone Viana and Marita Moreno is most evident in this specific model: the Michone Viana boots, which form part of Marita Setas Ferro’s Handmade Line. They pay homage to Minho’s heritage, and specifically to the traditional crafts of Viana do Castelo, using handwoven Minho textiles with traditional patterns (such as ‘puxados’), originally found on the round skirts of local folklore.
Although the name evokes Michone Viana’s style, the weaving used in these specific Marita Moreno pieces is often executed by certified artisan Aida Pires Martins. Here, the handwoven Minho textile is combined with Burel (100% natural wool from Serra da Estrela) and natural or recycled rubber soles, upholding designer Marita Setas Ferro’s ethical commitments.
That said, the Michone concept that gives Marita Moreno’s collection its name is inspired by the character Michonne from the series ‘The Walking Dead’, focusing on a design of practical, hard-wearing slip-on boots that marry character and simplicity. In essence, it represents a fusion of identities, in which Michone Viana’s name and artisanal aesthetic, with a focus on Minho heritage, serve as inspiration rather than raw material for Marita Moreno’s limited editions of sustainable luxury footwear.

“Each pair is made with artisanal weaving from Minho, with traditional designs and techniques such as ‘puxados,’ produced by artisan Aida Pires Martins,” Marita Setas Ferro emphasises in the note she sent us. “This rare fabric- originally created for the emblematic round skirt of Minho folklore- carries generations of cultural identity. Instead of a skirt, this textile heritage takes on new life in our Michone boots.”
“With traditional Minho motifs and colours, the Michone Viana boots are part of an extremely limited edition, created with deep respect for culture, artisanal savoir-faire and Portuguese pride.”
“For the plain-coloured sections, we used blue Burel, a 100% wool cloth produced by a family-owned company in Manteigas, in the Serra da Estrela,” she continues. “Thanks to a unique finishing process, the wool becomes more compact, durable and naturally waterproof — ideal for long walks and everyday use.”
“As part of Marita Moreno’s Handmade Line, the Michone Viana boots are designed and produced in Portugal, working only with certified artisans and local factories, combining comfort, durability and timeless design,” she concludes, highlighting the fact that this is: “A rare edition. A living tradition. A statement made to last.”
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Fashion
US’ Nike Q2 FY26 revenue edges up despite sharp fall in direct sales
The wholesale revenues rose 8 per cent to $7.5 billion, driven largely by strength in North America. In contrast, Nike direct revenues declined 8 per cent to $4.6 billion on a reported basis and fell 9 per cent on a currency-neutral basis, reflecting weaker digital and owned-store sales.
Nike, Inc has reported mixed Q2 FY26 results, with revenues rising 1 per cent to $12.4 billion.
Wholesale sales grew 8 per cent, driven by North America, while Nike direct declined amid weaker digital demand.
Gross margin fell 300 bps to 40.6 per cent due to higher tariffs.
Net income and diluted EPS dropped 32 per cent, highlighting continued margin pressure.
The gross margin fell sharply by 300 basis points (bps) year on year (YoY) to 40.6 per cent, primarily due to higher tariffs in North America. Net income declined 32 per cent to $0.8 billion, while diluted earnings per share dropped 32 per cent to $0.53, Nike said in a press release.
By segment, Nike Brand revenues increased 1 per cent to $12.1 billion, supported by growth in North America, partially offset by declines in Greater China and Asia Pacific and Latin America (APLA). Nike direct revenues were impacted by a 14 per cent decline in Nike Brand Digital sales and a 3 per cent drop in Nike-owned stores. Converse revenues fell sharply by 30 per cent to $300 million, reflecting declines across all regions.
Selling and administrative expenses rose 1 per cent to $4.0 billion. Demand creation expenses increased 13 per cent to $1.3 billion, driven by higher brand and sports marketing spend, while operating overhead costs declined 4 per cent to $2.8 billion due to lower wage-related and administrative expenses. The effective tax rate rose to 20.7 per cent from 17.9 per cent a year earlier.
On the balance sheet, inventories stood at $7.7 billion, down 3 per cent YoY, reflecting lower unit levels partially offset by higher product costs linked to tariffs. Cash, cash equivalents and short-term investments declined by about $1.4 billion to $8.3 billion, as operating cash flow was offset by dividends, bond repayments, share buybacks and capital expenditure, added the release.
“Nike is in the middle innings of our comeback. We are making progress in the areas we prioritised first and remain confident in the actions we’re taking to drive the long-term growth and profitability of our brands,” said Elliott Hill, president and chief executive officer (CEO) of Nike.
“FY26 continues to be a year of taking action through Win Now, including realigning our teams, strengthening partner relationships, rebalancing our portfolio, and winning on the ground. We’re finding our rhythm in our new sport offence and setting ourselves up for the next phase of athlete-centered innovation in an elevated and integrated marketplace,” added Hill.
“In the second quarter, we demonstrated the resilience of our portfolio, delivering modest top-line reported growth while managing headwinds from repositioning our business in a dynamic operating environment,” he said. “We are making the shifts required to position our portfolio for a full recovery and driving real-time decisions in service of the long-term health of our brands,” said Matthew Friend, executive vice president and chief financial officer (CFO) of Nike.
For the first six months of FY26, Nike reported revenues of $24.1 billion, up 1 per cent YoY, while net income fell 31 per cent to $1.5 billion, underscoring the continued impact of margin pressures despite stable top-line performance.
Fibre2Fashion News Desk (SG)
Fashion
Boucheron inks strategic JV with Al Tayer Group in the UAE
Published
December 22, 2025
Boucheron has inked a strategic joint venture with the Al Tayer Group in the United Arab Emirates, granting the local group control of its operations in the Gulf State.
The deal, which is effective this December, marks an important step in Boucheron’s regional development and celebrates the Maison’s 20th anniversary in the UAE.
“The United Arab Emirates holds a special place in Boucheron’s heart. For 20 years, we have had the privilege of serving clients whose discernment and passion for High Jewelry inspire us every day. This joint venture with Al Tayer Group- a partner whose expertise and vision we deeply respect- marks a strategic turning point. Together, we will strengthen our relationship with our clients, enhance the Boucheron experience, and write a new chapter of shared success,” said Boucheron CEO Hélène Poulit-Duquesne.
Long before Boucheron opened its first boutique in the region, discerning Emirati clients were already making the journey to the brand’s historic flagship at 26 Place Vendôme in Paris. Subsequently, Boucheron opened its first boutique at Mall of the Emirates in Dubai in 2005, before expanding its footprint with boutiques at Galleria Mall in Abu Dhabi in 2013 and The Dubai Mall in 2017. There are currently over 90 Boucheron boutiques worldwide. Since 2000, the brand belongs to the global luxury group Kering.
“For decades, Al Tayer Group has championed the growth of exceptional luxury houses and Boucheron stands among the most storied and innovative of them. This partnership represents far more than a business venture, it is a meeting of shared values, a commitment to excellence, and a vision for elevating the luxury landscape in our region. As we embark on this new chapter together, we look forward to deepening Boucheron’s presence in the UAE, delivering an experience worthy of our clients’ expectations, and shaping the future of luxury retail through innovation, trust, and enduring partnership,” said Khalid Al Tayer, Al Tayer Insignia’s managing director Ounass’ CEO.
Privately-held Al Tayer is a diversified company with interests in automobile sales and service, luxury and lifestyle retail, perfumes and cosmetics distribution, engineering, and real estate. It operates over 200 stores throughout the Gulf and represents many major league European luxury labels- Bulgari, Saint Laurent, Prada, and Zegna. It has been the partner of Giorgio Armani in the region for over two decades and operates 22 of the late designer’s stores.
The joint statement underlined that the partnership would continue to share Boucheron’s universe of creativity, craftsmanship, and innovation with an enriched product assortment, including Fine Jewelry and High Jewelry creations. The deal also reflects Boucheron’s confidence in the Middle Eastern market.
Boucheron was founded in 1858 by Frédéric Boucheron and has been built up by four generations of his direct descendants. A visionary designer and the first jeweller among his great contemporaries to open a boutique on Place Vendôme, Boucheron created a maison that still epitomises the finest in jewellery, high jewellery, and watchmaking to this day.
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