Fashion
Guess will go private in $1.4 billion deal with Authentic Brands

By
Bloomberg
Published
August 20, 2025
Guess? Inc. will be taken private by Authentic Brands Group LLC in partnership with co-founders Maurice and Paul Marciano and chief executive officer Carlos Alberini.
Shareholders will get $16.75 a share in cash, a 26% premium to the stock’s closing price on Tuesday. The deal values Guess at about $1.4 billion, including debt, the company said in a statement. The shares jumped premarket to trade at the offer price.
Founded in 1981 by the Marciano brothers, Guess’s products include denim, handbags and shoes. In February 2024, the company teamed up with WHP Global to acquire the fashion brand rag & bone. This past April, Guess said it was reviewing a proposal from WHP to acquire the retailer for $13 a share.
Fashion
NITMA urges GST council to fix inverted textile duty as US tariffs hit

NITMA president Sidharth Khanna warned that the current inverted duty structure—where polyester staple fibre (PSF) is taxed at 18 per cent and polyester spun yarn (PSY) at 12 per cent while fabric is at 5 per cent—is unworkable for spinners. He urged a cut in PSF and PSY rates to 5 per cent to align with fabric.
India’s textile sector is under strain as steep US tariffs take effect today.
The Northern India Textile Mills Association (NITMA) has urged the GST Council, meeting on September 3–4, 2025, to address the inverted duty structure in the man-made fibre value chain by reducing GST on polyester staple fibre (18 per cent) and polyester spun yarn (12 per cent) to 5 per cent, aligning with fabric.
According to Khanna, the present system burdens the industry with blocked working capital in GST refunds, unutilised input tax credits, administrative delays, loss of state SGST incentives, and unfair competition from imports.
“This is a critical moment for India’s textile sector. Decisive action to remove the inverted duty structure will not only counteract the impact of US tariffs but also unlock growth and investment across the MMF value chain, thereby making this event a blessing in disguise,” Khanna stressed.
Fibre2Fashion News Desk (KD)
Fashion
Nigerian designer pushes “Afro-lux” onto the global fashion scene

By
AFP
Published
August 28, 2025
Its striking architecture, framed by latticework inspired by traditional Yoruba textiles, makes Alara — west Africa’s first fashion and design “concept store” — an imposing landmark in Lagos, Nigeria’s bustling commercial capital.
Founded by Reni Folawiyo a decade ago, Alara embodies her vision of “Afro-lux,” a concept she defines as designs that balance tradition with modernity while positioning African fashion on the global stage.
Inside the store, upscale African labels share space with international brands, decorative art, and books — part of Folawiyo’s mission to place African creativity on equal footing with established global names. The building’s distinctive lattice is inspired by adire, a textile popular among the Yoruba people of southwest Nigeria.
“A lot of the beautiful things that people were making in different parts of Africa were not celebrated in the way that I thought they should be,” said the 60-year-old, explaining how rural craftsmanship often inspires Alara’s collections. “I felt very strongly in my belief that these objects and these people had value.”
Music stars become style ambassadors
West African design is experiencing a cultural moment, Folawiyo noted in an interview in Lagos, where she wore sunglasses with vivid pink lenses.
In May, Nigerian music stars Burna Boy, Tems, and Ayra Starr appeared at New York’s Met Gala, dressed by British-Ghanaian designer Ozwald Boateng.
But for Folawiyo, global recognition requires more than occasional runway appearances. “At the moment, the best way to platform designers outside Africa is to partner and collaborate with institutions that are of repute,” she said, citing her recent pop-up store and exhibition at the Brooklyn Museum and a collaboration with the Los Angeles County Museum of Art.
Drawing from her Yoruba heritage — with its intricate textiles, bold colors, and elaborate ceremonies — Folawiyo also finds inspiration in Senegal’s rugged aesthetics and the Ivory Coast’s refined sophistication. “Alara is my own idea of what a celebration of Africa looks like,” she said.
Culture through cuisine
Behind the boutique lies NOK, a restaurant led by executive chef Pierre Thiam, the Senegalese culinary pioneer who has brought west African food to U.S. diners.
While still high-end, NOK offers more accessible prices than Alara’s fashion and design pieces — a delicate balance in a country marked by extremes: wealthy elites in the oil and tech sectors, a shrinking middle class strained by inflation, and millions of informal workers.
Amid Alara’s stark interior of black walls and white concrete, luxury items stand out as bold statements. A green dress by Nigerian label Eki Kere carries a price tag of 325,000 naira (around $210), while a sculptural table from Senegalese-Nigerian studio Salu Iwadi can fetch up to ten times more, underscoring the store’s blend of accessible fashion and high-end design.
Folawiyo herself comes from Lagos’s elite, as the wife of businessman Tunde Folawiyo and daughter of the late attorney general of Nigeria’s former Western Region, Lateef Adegbite.
But building her vision of African luxury was not easy. Convincing investors and partners to believe in “Afro-lux” proved challenging. “I was very committed to it and I had great belief in myself and my idea,” she said.
Now firmly established in Nigeria, Folawiyo also organizes international fashion showcases, including at Barbados’s Carifesta XV this month. But for her, the industry’s long-term success depends on “passing on knowledge to future generations.”
Copyright © 2025 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.
Fashion
CBI says UK retail sales have been weak in August

Published
August 28, 2025
A Deutsche Bank report this week has sent the share prices of a number of UK retailers down on the back of falling consumer confidence, and it looks like retailer confidence is low too if the latest CBI retail report is a guide.
First, a quick look at that Deutsche Bank report. It showed UK consumer confidence at a post-pandemic low and raised fears that autumn will be tough for discretionary retailers. Big names such as Next, M&S and Primark owner ABF saw their share prices falling with ABF’s price down as much as 6% in recent days.
It coincided with the latest CBI retailer survey that showed retail sales volumes “fell at a strong pace in the year to August, extending the downturn to an 11th consecutive month”.
That said, the business body reported retailers expecting the pace of decline to ease in September. So perhaps those share price falls may be reversed soon?
Regardless, the CBI report wasn’t exactly upbeat. It said weak demand and gloomy sentiment continue to weigh on retailers’ investment and hiring plans. Price pressures remain elevated, with selling prices rising at their fastest rate since November 2023.
Year-on-year retail sales volumes fell at a strong pace in August with a weighted balance of -32% from -34% in July. Sales are expected to decline at a slower rate next month (-16%).
First though, an explanation. Those figures don’t mean that the volume of sales fell by 34%. Instead, the weighted balance showed 34% of retailers saying their sales fell to one degree or another.
Back with the report, retail sales for the time of year were judged to be “poor”, to a somewhat greater extent than in July (-19% from -10% in July). Next month’s sales are set to remain below seasonal norms to a similar degree (-20%).
Sentiment among retailers remained poor, with their business situation expected to deteriorate over the coming quarter, but to a lesser extent than last quarter (-10% from -29% in May).
Retailers also expect to reduce capital expenditure over the next 12 months (compared to the previous 12) to a slightly lesser degree than in May (-42% from -47% in May), but intentions remain poor by historical standards (long-run average of -3%).
Meanwhile retail employment continued to decline at a broadly unchanged rate in the year to August (-14% from -15% in May). Headcount is expected to fall at a slightly quicker pace next month (-19%).
And the survey showed retail selling prices rose in the year to August at the fastest rate since November 2023 (+65% from +35% in May). Retailers anticipate selling prices to increase at a relatively slower pace in September (+43%).
Online retail sales volumes were broadly flat in the year to August (+3% from +4% in July) but are expected to contract at a fast rate in September (-35%).
Martin Sartorius, CBI Principal Economist, said of this: “Retailers endured another tough month in August. Weak demand and higher labour costs continue to put pressure on margins, dampening sentiment across the retail and wider distribution sector. This downbeat outlook is reflected in firms’ plans to scale back investment and hiring.
“The government’s fiscal decisions are continuing to bite, and retailers’ struggles send a clear signal: business cannot be asked to balance the books again at the Autumn Budget. Building business confidence through delivery must be the priority — starting with a rethink of the Employment Rights Bill, which risks piling on unnecessary costs and holding back jobs and investment.”
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