Fashion
ICE cotton stays weak as dollar falls; WASDE report awaited
ICE March 2026 cotton futures settled at 64.53 cents per pound, down 0.28 cents or 0.43 per cent. New contract-low closes were recorded for December 2025, March 2026, May 2026, and July 2026 for the second consecutive session.
ICE cotton futures remained weak ahead of WASDE report, with March 2026 settling lower and several contracts hitting new lows.
A softer US dollar offered limited support, while market caution persisted amid weak demand and muted buying.
US government’s reopening and recent export sales data had little impact, and analysts expect higher supply estimates as December’s first delivery date approaches.
The dollar fell to a two-week low, improving foreign buying interest, while Wall Street’s sharp decline and fading expectations of rate cuts added to overall market caution.
Total volume traded today stood at 94,153 contracts, while yesterday’s cleared volume of 115,071 contracts ranked as the eighth-highest on record.
The US government reopened after a 43-day shutdown, with most federal services resuming, and cotton prices remaining flat. Loan programmes will offer temporary relief to growers.
USDA export net sales for the week ending September 25 were 200,600 bales, including 199,500 Upland bales and 1,100 Pima bales for the 2025–26 season. This was the last weekly US cotton sales report issued before the shutdown.
Market sentiment remains under pressure as sellers are not realising profits despite competitive pricing, and demand is expected to stay muted.
Market analysts said the upcoming USDA report may show higher supply and a slight reduction in export projections. The December contract remained under pressure as the first delivery date approaches on November 21.
This morning (Indian Standard Time), ICE cotton for December 2025 was trading at 62.93 cents per pound (up 0.03 cent), cash cotton at 60.40 cents (down 0.40 cent), the March 2026 contract at 64.56 cents (up 0.03 cent), the May 2026 contract at 65.76 cents (up 0.06 cent), the July 2026 contract at 66.85 cents (up 0.04 cent), and the October 2026 contract at 67.33 cents (down 0.26 cent). A few contracts were unchanged from their previous close, with no trading recorded so far today.
Fibre2Fashion News Desk (KUL)
Fashion
UK year-end review 2025: Seeking new avenues
US reciprocal tariffs raised costs for UK fashion exporters, with some luxury fabrics facing up to 35 per cent duties in the US.
Currency weakness further squeezed margins across the sector.
UK policy responses eased imports from developing nations and reshaped supply chains.
Exporters increasingly diversified towards MENA and Asia-Pacific markets, signalling a shift in trade strategy.
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Fashion
German shirt-making pioneer Eberhard Bezner turns 90
Published
December 30, 2025
Eberhard Bezner turns 90. The long-standing managing director and current co-owner of Olymp Bezner KG, and co-founder of the eponymous foundation in Bietigheim-Bissingen, Baden-Württemberg (Ludwigsburg district), will celebrate his milestone birthday on December 31. As a German fashion entrepreneur, Bezner brought numerous innovations in modern shirt-making to fruition, laying the foundations for the company’s outstanding market position today.
Eberhard Bezner was born on December 31, 1935 in Stuttgart, Württemberg, the only child of company founder Eugen Bezner and his wife, Wilma (née Klaus).
Bezner grew up in Bietigheim and Ingersheim in the district of Ludwigsburg. After completing his schooling in Bietigheim in 1950, he began a structured apprenticeship as a textiles and retail merchant with a textile wholesaler in Ludwigsburg.
Bezner then joined his parents’ company in September 1953, initially as a junior employee. Following the sudden death of his father, Eugen, in January 1960, he had to take responsibility for the fast-growing, medium-sized shirt manufacturer overnight, at just 24 years of age.
As managing partner, he devoted himself to this role for many decades, until the complete handover to his son and successor, Mark Bezner, who now successfully runs the internationally active family business in its third generation.
One of Eberhard Bezner’s key entrepreneurial achievements was recognising, as early as the late 1960s, the growing difficulties facing domestic textile production in Germany.
The demand for qualified production workers could scarcely be met at that time. In the face of near-full employment, the local textile and clothing industry, particularly in the Middle Neckar region, continuously lost workers to traditionally strong sectors such as mechanical engineering and the automotive industry.
As a result, alternatives for shirt production had to be found abroad- this was the only way to preserve the medium-sized company and safeguard jobs in Germany.
In addition to his many years as an entrepreneur, Eberhard Bezner also took on political responsibility at municipal level in his hometown of Bietigheim for decades. From 1968 to 2004, he was at times the longest-serving councillor in the CDU group on the Bietigheim-Bissingen city council and also served, on an honorary basis, as deputy to the then Lord Mayor, Manfred List (CDU).
For his numerous services to the community as a citizen, patron, sponsor, and elected official, he received the Badge of Honour of the state of Baden-Württemberg and also holds the Cross of Merit on ribbon of the Order of Merit of the Federal Republic of Germany. In October 2013, Eberhard Bezner was additionally honoured by the Baden-Baden Economic Forum for his life’s work as the doyen of the German shirt industry and as a shareholder of OLYMP.
Guided by the humanist maxim “It is far more blessed to give than to receive,” the committed philanthropist Eberhard Bezner has long been active in charitable humanitarian projects. Together with his son, Mark Bezner, and his daughter, Birgit Bezner-Fischer, he founded the Olymp Bezner Foundation in 2008 with a private endowment of one million euros, which has since worked worldwide to support the education, health, and welfare of children and young people.
In 2010, Eberhard Bezner opened the “EBERHARDS” hotel and restaurant, now run by his grandson Bastian Fischer, as a stylish address in Bietigheim-Bissingen. In a prime city-centre location- right on the River Enz, beside the Bietigheim railway viaduct, the town’s landmark, and opposite the municipal indoor swimming pool- EBERHARDS combines high-quality accommodation for business travellers and holidaymakers with culinary experiences for connoisseurs and lovers of regional cuisine.
Eberhard Bezner is also an avid music lover and the initiator of the “Jazz im OLYMP” festival, which has been held annually on the company premises since 2001 and has established itself as a cultural highlight in the Stuttgart region with its numerous international music groups, performers and bands. As a sports fan and sponsor, Bezner has also been a major supporter of local sports clubs in Bietigheim-Bissingen for decades.
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Fashion
US’ Stitch Fix delivers strong Q1 FY26 with 7.3% revenue growth
Gross profit rose to $149.3 million but gross margin slipped to 43.6 per cent, down 180 basis points, due to higher product costs and promotional activity. Adjusted EBITDA increased to $13.4 million, reflecting a margin of 3.9 per cent compared with break-even levels seen in earlier turnaround phases.
Stitch Fix has reported a strong Q1 FY26, with revenue up 7.3 per cent to $342.1 million and improved adjusted EBITDA of $13.4 million.
While active clients declined, spending per client increased.
The company posted a $6.4 million net loss but ended debt-free with positive free cash flow.
With rising engagement and an AI-driven strategy, Stitch Fix expects continued growth through FY26.
The company reported a net loss of $6.4 million, nearly unchanged from the $6.26 million loss in the same quarter a year earlier, though operating performance improved on an adjusted basis.
Active clients fell 5.2 per cent YoY to 2.307 million, though revenue per active client improved 5.3 per cent to $559, signalling higher engagement among retained users. Inventory levels increased sharply to $141.5 million from $118.4 million last quarter, aligning with assortment expansion and seasonal buying, Stitch Fix said in a press release.
The company closed the quarter with a strengthened balance sheet, holding $244.2 million in cash, cash equivalents and investments and remaining debt-free. Operating activities generated $10.9 million in cash, and free cash flow turned positive at $5.6 million, marking a key milestone in the restructuring roadmap.
Looking ahead, Stitch Fix forecasts continued growth in the second quarter, projecting revenue between $335 million and $340 million—equating to 7.3-8.9 per cent annual growth. Adjusted EBITDA is expected to range from $10 million to $13 million with a margin of up to 3.8 per cent.
For full FY26, the company expects revenue between $1.32 billion and $1.35 billion, representing 4.2-6.5 per cent YoY growth. Adjusted EBITDA guidance stands at $38-$48 million with a 2.9-3.6 per cent margin. The company anticipates a full-year gross margin between 43 and 44 per cent, advertising expenses representing 9-10 per cent of revenue, and positive free cash flow.
As part of its operational reset, Stitch Fix continues to reflect its discontinued UK business separately, following its exit in fiscal 2024. The company noted that non-GAAP measure reconciliations are unavailable due to uncertainty around restructuring, taxes and other one-time cost fluctuations but cautioned these factors could materially impact GAAP outcomes.
With stabilising financials, rising revenue per client, and accelerating execution of its AI-led retail model, Stitch Fix signalled confidence in sustaining momentum as it moves deeper into fiscal 2026.
“Q1 was a strong start to the fiscal year—we accelerated year-over-year revenue growth to 7.3% and captured considerable market share gains,” said Matt Baer, CEO, Stitch Fix. “As a result of the successful execution of our transformation strategy, we are increasingly becoming the retailer of choice for more of our clients’ apparel and accessories needs. We are doing this by leveraging the latest in GenAI technology, the expertise of our human Stylists, and our assortment of leading brands to deliver the most client-centric and personalised shopping experience.”
Fibre2Fashion News Desk (SG)
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