Fashion
Trump tariffs a stone in the shoe of ‘made in USA’ cowboy boots
By
AFP
Published
August 15, 2025
The manufacture of iconic “made in the USA” cowboy boots is set to suffer from President Donald Trump‘s 30% tariffs on South African exports that came into force in August.
Texas’s most renowned makers of the southern US fashion staple source the ostrich leather they require exclusively from the small South African town of Oudtshoorn, 400 kilometres (250 miles) east of Cape Town.
Known as the world’s “ostrich capital”, Oudtshoorn is nestled in the semi-arid Little Karoo valley just inland from the southern coast and is home to a few hundred thousand people and about as many of the giant flightless birds.
“We just don’t know how bad the impact will be, but positive it wouldn’t be,” said ostrich farmer Laubscher Coetzee of the tariffs that kicked in after South Africa appeared unable to negotiate a new trade deal with Trump.
More than half of the global supply of ostrich-derived products — from feathers to leather and meat — comes from nearly 200 farmers around Oudtshoorn who are joined in the Cape Karoo International (CKI) group, said its managing director Francois de Wet.
South Africa as a whole supplies about 70% of the world’s production, he said.
Luxury handbag manufacturers in France and Italy are among the CKI’s main clients. It also ships 20% of its ostrich leather to top Texas bootmakers such as Lucchese, Justin and Rios of Mercedes, whose boots are sold at several hundreds of dollars a pair.
Ostrich is “an extremely important leather in our industry”, Ryan Vaughan, CEO of the Rios of Mercedes manufacturer, told AFP.
“It’s very resilient, it forms to the foot,” he said, wearing a typical cowboy hat. Coming from “a long line of cattle ranchers”, his family brand was born in Texas in 1853 and employs 250 people.
The tariffs “would make a dramatic impact in our business and in the western industry,” he said, “because it’s not just us that build a lot of cowboy boots out of ostrich leather”.
It is also the case of Tony Lama, an El Paso bootmaker supplied by CKI that has given a pair to every recent Republican president. Donald Trump received cowboy boots emblazoned with “MAGA” made out of “American alligator” skin, according to a press release.
De Wet from the CKI said he believed the South African supply of ostrich leather to the US manufacturers did not run counter to a push by the Trump administration for production to be brought home. The United States did not have enough ostriches to provide the required leather, he said.
“We export the raw material, the ostrich leather. They can’t produce it from local ostriches in the US. They don’t have them,” he told AFP.
“They do all the value-adding in the United States,” he said. “So therefore, in terms of the pure definition of what the Trump administration would like to see, in this case, we do it already.”
The soft skins, recognisable by spots left by the large ostrich feathers, are currently sold to American manufacturers for around $20 a square foot.
“We exported more than the usual volume of ostrich leather to the US in the past two-three months, so we have a little bit of a buffer,” said de Wet.
“For the moment we don’t expect any layoffs in the short term,” he said. But “in the long term, if we have to pick up the full tariff, it will definitely… cause a shrinkage of our business.”
The consumer could also not be expected to pay an extra 30% for the already pricey boots, he said. “So the tariff will have to be split between the exporter… and the importer, and preferably also a part paid by the end consumer.”
It is the unique climate of the Little Karoo, which gets less than 400 millimetres (nearly 16 inches) of rain a year, that makes it ideal for ostrich rearing, said Coetzee, a fourth-generation Oudtshoorn farmer. “That is the reason the ostrich industry is still here 200 years after (it started),” he said.
His great-grandfather built the family home in 1896, when the price of ostrich feathers rivalled that of gold because of their value to the women’s fashion industry.
The extravagant “ostrich palaces” of the time are a reminder of the industry’s previous major crisis, when the market collapsed in the early 1900s as the arrival of the low-roofed motor car ended the fashion for high-feathered hats.
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Fashion
UK budget mildly deflationary; debt to climb past 106%: Fitch
The rating agency said the government’s latest fiscal package is broadly in line with projections made when it affirmed the UK at ‘AA-’/Stable in August but said that the path to consolidation is becoming more challenging.
Fitch Ratings has deemed the budget marginally deflationary, sees debt rising above 106 per cent of GDP by 2027.
The agency said the UK budget broadly aligns with its August deficit projections but signals of rising implementation risks due to back-loaded tax measures and tight spending plans.
New taxes total £26 billion (~$34.37 billion) by FY29, while social spending rises further.
Fitch said the budget’s new tax measures represent £26 billion (~$34.37 billion), or 0.7 per cent of GDP, by fiscal 2029 (FY29), with threshold freezes contributing £8 billion (~$10.57 billion). New Office for Budget Responsibility (OBR) data show general government net borrowing projections 0.2 percentage points (pp) higher on average in 2026–2028 than in March, before falling 0.2 points in 2029, Fitch Ratings said in a release.
Fiscal data since summer remain broadly in line with Fitch’s forecast for the general government deficit to narrow by 0.6 pp in 2025 to 5.3 per cent of GDP and then to 4.4 per cent in 2027, around 0.7 points slower than the government’s new targets.
The agency highlighted material uncertainty around implementation, particularly given the challenging expenditure consolidation outlined in June’s Spending Review, which the budget largely preserves. Real-terms public-sector current spending growth has been tightened further in FY29 to zero, averaging 1.2 per cent in FY26–FY28 compared with 3.4 per cent in FY24–FY25.
Fitch noted that many tax measures are highly back-loaded, coming into effect closer to mid-2029, the latest possible timing of the next general election. A large portion of the tax plan also consists of numerous smaller measures, making the overall impact less transparent than the broader income tax rise the government signalled before the budget. Options to raise further revenue are politically constrained by 2024 election pledges not to increase personal income tax, VAT or National Insurance.
Still, Fitch said Chancellor Rachel Reeves is demonstrating firmer commitment to the fiscal rule than recent predecessors. Last year’s decision to shorten the rolling forecast horizon from five to three years from 2026 has reduced the scope to delay real fiscal adjustment. Aligning fiscal plans more closely with three-year spending reviews also makes it harder to rely on unrealistic spending cuts to fill fiscal gaps.
Budget headroom has increased from £12 billion to £22 billion, around 0.6 per cent of GDP, but Fitch said this remains limited and constrains efforts to improve policy predictability.
Revenue projections have been reshaped by a £16 billion downgrade in expected tax receipts due to lower OBR productivity assumptions, reducing average GDP growth in 2026–2029 by 0.3 pp to 1.5 per cent. Upward revisions to inflation and wage growth more than offset this decline. The OBR’s updated medium-term GDP growth outlook is now closer to Fitch’s trend estimate of 1.4 per cent, of which total factor productivity contributes only 0.3 points.
Although sustained high nominal gilt yields represent a significant fiscal risk, the UK’s long average debt maturity of 13.7 years helps contain projected debt-interest requirements, which Fitch expects to rise modestly to 7.4 per cent of revenue in 2027 from 7 per cent in 2024.
Fitch projects modest GDP outperformance in the near term compared with its August forecast of 1.2 per cent for 2025, although a weakening labour market poses a small downside risk to its 1.2 per cent projection for 2026. The agency judges the budget as marginally deflationary and expects inflation to fall to 2.4 per cent by end-2026.
Fibre2Fashion News Desk (HU)
Fashion
New Balance launches three new stores in Bengaluru, India
Published
December 1, 2025
Global athletic brand New Balance has expanded its brick-and-mortar footprint in the Bengaluru metro area and opened its doors at three new locations: Indiranagar, HSR, and Forum South Bengaluru.
“We are excited to deepen our presence in Bengaluru- with our stores at Brigade Road, Indiranagar, Forum Mall, and HSR, anchoring us in a city that embodies innovation, culture, and an unwavering passion for fitness,” said New Balance India’s country manager Radeshwer Davar in a press release. “This weekend’s in-store experience and community run allowed us to bring New Balance’s philosophy to life while reinforcing our commitment to building inclusive fitness communities and we want to thank the people of Bengaluru who turned up in great spirit.”
Highlighting its long-term commitment to the Indian market, the new outlets are designed to offer an immersive retail environment and mix craftsmanship with technology. New Balance held an exclusive in-store event at its Indiranagar store, featuring an interactive brand showcase of both footwear and apparel. The New Balance Run Club also put on a community run which saw participation from over 200 individuals.
“Over the past year, we’ve more than doubled our retail footprint in India, and these three new stores are a strong testament to that momentum,” said Davar. “For us, it’s not just about expanding retail locations- it’s about creating experiential centres that bring innovation, performance, and style together under one roof.”
Headquartered in Boston, US, New Balance has been independent since 1906 and employs 10,000 associates worldwide. The business reported a global sales total of 7.8 billion dollars in 2024 and counts five athletic footwear factories in New England, US and one in Flimby, UK.
Copyright © 2025 FashionNetwork.com All rights reserved.
Fashion
U.S. Black Friday online sales hit record $11.8 billion, Adobe reports
By
Reuters
Published
December 1, 2025
American shoppers spent a record $11.8 billion online on Black Friday, up 9.1% from last year, final data from Adobe Analytics showed.
Adobe Analytics, which tracks over 1 trillion U.S. retail site visits, expects shoppers to spend $5.5 billion on Saturday and $5.9 billion on Sunday, up 3.8% and 5.4% from a year earlier respectively.
Separately, software firm Salesforce reported that American consumers had spent $18 billion on Black Friday purchases, up 3% from a year ago, with luxury apparel and accessories among the most popular categories.
Although U.S. consumers spent more this Black Friday compared to last year, price increases hampered online demand, according to Salesforce, with shoppers purchasing fewer items at checkout compared to last year.
At physical stores, the bargain-chasing was relatively subdued on post-Thanksgiving morning, with some shoppers saying they feared overspending amid persistent inflation, trade policy-driven uncertainty, and a soft labor market.
Cyber Monday, traditionally a big day for online deals, is expected to be the season’s biggest online shopping day again, Adobe projects, driving $14.2 billion in spending, up 6.3% from last year.
© Thomson Reuters 2025 All rights reserved.
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