Fashion
North India cotton yarn hit by tariff hike, but slight relief in sight
North India’s cotton yarn market is reeling from the 50 per cent US tariffs, forcing spinning mills and stockists to offer steep discounts.
While yarn prices in Ludhiana and Delhi remained steady, Panipat saw a ₹2–3 per kg dip in recycled PC and cotton yarn amid selling pressure.
Market experts said the duty-free cotton import extension may cushion mills by lowering production costs.
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Reuters
Published
September 1, 2025
Hong Kong property developer New World Development confirmed on Monday it is in discussions about a loan facility led by Deutsche Bank AG, but denied receiving any other funding proposals.
However, the firm did not reveal any other financial details about the loan facility being discussed with Deutsche, Germany’s largest lender.
Bloomberg News reported earlier, citing unnamed sources, that Hong Kong tycoon Henry Cheng’s family, also the firm’s controlling shareholder, was weighing a HK$10-billion ($1.28-billion) capital injection through a joint venture.
The report said the family was seeking a partner to provide a roughly similar amount for an equity stake, with Blackstone and CapitaLand among those in talks.
New World, which carries one of the highest debt ratios among its peers, secured an $11.2-billion loan refinancing package in late June, one of the largest yet in Hong Kong, designed to bring the company back from the brink of default.
Shares and bonds of the property developer had surged on August 7 after a media report on a potential take-private deal.
© Thomson Reuters 2025 All rights reserved.
Translated by
Nazia BIBI KEENOO
Published
September 1, 2025
Salomon is continuing to strengthen its leadership team as part of its ongoing global expansion. The French performance and lifestyle brand, part of the Amer Sports Group, has named Bertrand Gachon as General Manager for the Europe, Middle East, and Africa (EMEA) region.
Gachon joined Salomon last year to lead the brand’s Sportstyle category in EMEA and will now oversee the brand’s broader operations across the region. While still relatively new to Salomon, he brings over two decades of industry experience across sports and fashion.
He previously spent 25 years with Nike Inc., beginning at Nike and eventually becoming Action Sports Category Director for France. In 2011, he moved to Converse, where he served as General Manager for France. In 2017, he was promoted to Sales Director for Western Europe, a position he held until joining Salomon.
Salomon’s leadership update comes as the brand continues to grow its global retail footprint, with new store openings in key international cities including Shanghai, Tokyo, Melbourne, and Chicago.
In August, Amer Sports raised its full-year earnings forecast after reporting a 23% year-over-year sales increase in the second quarter, reaching $1.236 billion. The company also used the announcement to confirm the departure of Joe Dudy, former General Manager of Wilson. Andrew Page has taken over the role on an interim basis as of September 1.
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“Launching our first store and online on the same day is a historic moment for H&M, and I’m so excited we have finally arrived. Bringing H&M to Brazil is more than a launch — it’s about building a lasting connection with a country that inspires us. We’re here to celebrate creativity and self-expression, offering fashion and quality at the best price in a sustainable way to our customers in Brazil”. Daniel Erver, CEO, H&M Group.
H&M has officially entered Brazil with the opening of its first store at Shopping Iguatemi in São Paulo and the simultaneous launch of its e-commerce platform.
CEO Daniel Erver called it a historic moment, while local leaders highlighted the warm reception.
The launch marks H&M’s dual physical and digital debut, bringing fashion and sustainability to Brazilian customers.
“The enthusiasm and warm welcome we’ve received from Brazilian customers has been truly inspiring. We are thrilled to finally bring the H&M experience to São Paulo and look forward to connecting with our customers across the country”. Joaquim Pereira, Country Manager, H&M Brazil.
“Opening the doors of our Iguatemi store today was a dream come true. Seeing the excitement on our customers’ faces was unforgettable”. Renata Grima, Store Manager, H&M Iguatemi.
Fibre2Fashion News Desk (RM)
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