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UNCTAD warns of heavy tariff burden to Africa if AGOA expires

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UNCTAD warns of heavy tariff burden to Africa if AGOA expires



Market access to the United States could further deteriorate for many African countries if the African Growth and Opportunity Act (AGOA) is not renewed, according to the UN trade and development (UNCTAD). It is set to expire today, i.e, September 30, 2025. The scheme, introduced in May 2000, grants duty-free access to over 1,800 products from sub-Saharan African economies, making it a critical driver of export competitiveness.

If AGOA lapses, tariffs on African exports to the US will surge, particularly in textiles and apparel. Lesotho’s tariffs would soar from zero to 32 per cent, Kenya’s from 10 to 28 per cent, and Madagascar’s from 12 to 23 per cent. Even countries without special apparel preferences, such as South Africa and Guinea-Bissau, would face higher duties, averaging 14–15 per cent, UNCTAD said in a press release.

In 2023, US imports under AGOA totalled nearly $10 billion. While modest compared to overall US imports, these flows represent a substantial share of exports for countries such as Lesotho and Madagascar. The scheme has enabled African exporters to gain competitiveness, especially in apparel, and has encouraged US firms to source fuels, metals, and textiles at lower costs. Additionally, AGOA has spurred foreign direct investment and strengthened supply chain resilience across Africa.

UNCTAD has warned that many African markets’ access to the US could worsen if the African Growth and Opportunity Act (AGOA) expires on September 30, 2025.
Without it, tariffs would surge, particularly in textiles and apparel, threatening export competitiveness, disrupting trade ties, and undermining investment and supply chain resilience across many sub-Saharan African economies.

In 2023, US imports under AGOA totalled nearly $10 billion. While modest compared to overall US imports, these flows represent a substantial share of exports for countries such as Lesotho and Madagascar. The scheme has enabled African exporters to gain competitiveness, especially in apparel, and has encouraged US firms to source fuels, metals, and textiles at lower costs. Additionally, AGOA has spurred foreign direct investment and strengthened supply chain resilience across Africa.

UNCTAD has warned that many African markets’ access to the US could worsen if the African Growth and Opportunity Act (AGOA) expires on September 30, 2025.
Without it, tariffs would surge, particularly in textiles and apparel, threatening export competitiveness, disrupting trade ties, and undermining investment and supply chain resilience across many sub-Saharan African economies.

Since April 2025, US tariffs have already risen under new country-specific and sectoral measures. If AGOA expires, African exporters will face compounded pressure as they lose preferential access and revert to most-favoured-nation rates. This shift could severely disrupt long-standing trade ties, reduce competitiveness, and threaten industries heavily reliant on the US market.

The expiration of AGOA would come at a delicate time, with global competition for export markets intensifying. While the African Continental Free Trade Area offers a potential buffer, building alternative markets and supply chains will require significant time and adjustment. Without renewal, Africa’s export competitiveness in the US market could rapidly erode, placing fragile economies at greater risk, added the release.

Fibre2Fashion News Desk (SG)



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Underwear and lingerie producer Trucco Tessile buys rights to Italian homewear brand Happy People

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Underwear and lingerie producer Trucco Tessile buys rights to Italian homewear brand Happy People


Translated by

Nicola Mira

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January 13, 2026

Major developments are on the cards in 2026 for Trucco Tessile, the Cuneo-based Italian producer of pyjamas, underwear and loungewear. Trucco Tessile has bought, for an undisclosed amount, Italian homewear brand Happy People, renowned for its cheerful, insouciant, creative and colourful style. “The acquisition marks a new chapter in the history of [Trucco Tessile], as the group aims to continue to grow and innovate while abiding by its values of quality, creativity and care for people,” said Agostino Trucco, CEO of Trucco Tessile since January 1, speaking to FashionNetwork.com.

Happy People

Happy People was created with the goal of fostering joy and good cheer, and is well-known for its family-oriented collections and its distinctive depictions of two characters, a wolf and a sheep, that have become symbols of affection, close familiarity and good humour. “Happy People is much more than a brand, it’s a way of looking at life with joy,” said Trucco. “Welcoming [Happy People] into our family means believing in the value of emotions, in the power of a smile, and in the strength of stories that unite people. It’s a development that looks to the future with confidence, and goes hand in hand with our desire to keep innovating without losing our sense of humanity,” he added.
 
“[Happy People] is a label that has made history in its segment, so it cropped up on our radar. Let me underline that the company wasn’t going through a rough patch, business was buoyant, the owners simply decided to sell,” said Trucco. “As a result, we’re dealing with a brand (since we bought just the brand name – and only the rights relating to the apparel, pyjamas and underwear categories – we didn’t buy the company that produces Happy People) that is sound and well-established. It has an extremely strong identity, and is an interesting complement to our portfolio,” he added.

Trucco Tessile’s new acquisition is vertically integrated and has a strong product focus, complementing the Cuneo group’s nightwear know-how. The group’s portfolio also includes Julipet, a high-end men’s underwear brand, Boglietti, a women’s lingerie brand whose positioning was recently elevated from the market’s mid-range to the premium segment, and Alpina, a mid-range women’s and men’s underwear brand. “Style-wise, Happy People is entirely different from Boglietti, which targets elegant, understated and sophisticated women. Happy People’s brand narrative is fun, amusing and family-friendly,” said Trucco. “Besides, Happy People is a concept that goes beyond a mere product, pyjamas, and tells a love story – a strictly platonic one – between a wolf and a sheep.”

Happy People
Happy People

Happy People’s household linen range remains instead, as before, the property of Italian Textile Company, based in Ferno, near Varese. Trucco Tessile is planning to expand Happy People’s retail footprint both in Italy and abroad through the wholesale and e-tail channels. The brand is currently distributed via some 400 stores in Italy, Belgium, Spain, Germany and Greece.

In 2024, Trucco Tessile generated a revenue of €9 million, with e-tail sales growing and accounting for 10% of the total. “Through the new three-year business plan I have drawn up,” said Trucco, “we’ll try to align our three channels, i.e. e-commerce, the DTC channel consisting of our physical stores (we have a dozen) and the wholesale business, to become as much as possible an omni-channel company.”
 
As for Trucco Tessile’s other brands, Boglietti has developed a range that utilises natural fabrics like cotton, cotton-linen and cotton-bamboo blends, characterised by an “elegant, pared-down style consistent with the brand identity strategy we have implemented for the underwear and nightwear lines,” said Trucco.

Happy People

Julipet’s new nightwear is an ode to colour: “we’re well aware that blue is the colour of the night and of Julipet, and is synonymous with elegance, but we’re bringing alternatives to the market. Our watchwords this year are colour, colour, colour. The same goes for [Julipet] swimwear, and of course there’s a whole range of Julipet apparel, chiefly travelwear, featuring ultra-resistant, breathable, fresh and lightweight high-tech fabrics. Our new Oxford line, with a dozen SKUs, is absolutely innovative. It’s a highly streamlined range in a wide variety of colours, whose key feature is the use of high-tech  fabrics with specific functions. The garments are comfortable, extremely functional, and highly suitable for people who travel a lot,” said Trucco.
 
Alpina, which operates a handful of monobrand stores in Piedmont and is designed for everyday use, has functionality as its key feature. The brand’s hero products are its signature pyjamas, but Trucco Tessile is working to expand Alpina’s assortment to include sportswear, starting from the Fall/Winter 2026-27 season.

Copyright © 2026 FashionNetwork.com All rights reserved.



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Brunello Cucinelli full-year revenues up 11.5% driven by solid US and Asia sales

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Brunello Cucinelli full-year revenues up 11.5% driven by solid US and Asia sales


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Reuters

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January 12, 2026

Revenues at Italian luxury group Brunello Cucinelli rose 11.5% at constant exchange rates last year, in line with its most recent guidance, boosted by ⁠solid growth across all regions, and particularly in the Americas and ⁠in Asia.

Brunello Cucinelli is known for its Made in Italy designs

The cashmere brand, the first in the luxury sector to report 2025 preliminary sales, said ‍on ‌Monday its revenues rose to 1.41 billion euros ($1.65 ⁠billion) last year ‌and reaffirmed that revenues would increase ‌by 10% in 2026.

The company, which stands out in a luxury sector hit by slowing demand thanks to its focus ‍on wealthier consumers, reported a 11.9% increase in turnover in the fourth quarter alone. Both the ‌retail ⁠and ​wholesale channels contributed to the sales ⁠growth, ​though the latter at a more moderate pace.

In December, Cucinelli, whose cashmere jumpers ​can cost several thousand euros, raised its revenue growth forecast for 2025 ⁠to between 11% ⁠and 12% at constant exchange rates. The business has also recently confirmed its strong emphasis on the wholesale channel, seeing it as a good sales driver despite the challenging retail landscape. 

© Thomson Reuters 2026 All rights reserved.



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VSP Vision appoints Nicola Zotta as head of both Marchon and Marcolin

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VSP Vision appoints Nicola Zotta as head of both Marchon and Marcolin


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January 12, 2026

US eyewear group VSP Vision, headquartered in Rancho California, has announced the appointment of Nicola Zotta as president of eyewear and managing director of both Marchon Eyewear and Marcolin. Following VSP Vision’s acquisition of Marcolin, completed last month, Zotta will lead the integration of Marcolin and Marchon, two groups that are global leaders in the design, production, and distribution of eyewear.

Nicola Zotta – Marcolin

“Nicola uniquely combines Italian roots with leadership experience in the US, a proven ability to drive growth, and a deep understanding of, and alignment with, our commitment to all stakeholders,” said Michael Guyette, president and CEO of VSP Vision. “In this new chapter for our eyewear business, we are confident that his guidance and vision will enable us to bring our customers the very best that Marchon and Marcolin can deliver together.”

Zotta succeeds Fabrizio Curci, who has chosen to step down after serving as CEO and general manager of Marcolin since June 2020. To facilitate the transition, Curci will work alongside Zotta as an adviser in the coming months.

In addition, Thomas Burkhardt, Marchon’s president since 2022, has also decided to leave his position and will continue as an adviser to Nicola Zotta, focusing on the integration of the respective brand portfolios of Marcolin and Marchon.

“Under Fabrizio’s leadership, Marcolin has accelerated its growth through the strategic expansion of its brand portfolio, improved operational efficiency and a strong focus on commercial excellence,” Guyette added. “We are grateful for the contribution he has made over the years and intend to build on the foundation laid during his tenure.”

Reporting directly to Guyette, Zotta returns to VSP Vision after serving as CEO of Artsana Group since 2022. A seasoned executive in the eyewear industry, Nicola Zotta was President of Marchon from 2016 to 2022, having previously held key roles at the company, including vice president and managing director for EMEA and APAC from 2009. Before joining Marchon, he gained more than a decade of experience at Safilo, where he held several leadership positions.

“It is an honour to lead two world-class eyewear companies: the combination of their strengths creates an exceptional portfolio of luxury, lifestyle, and performance brands,” said Zotta. “By bringing together complementary capabilities and distinctive strengths, we are ideally positioned to continue offering eyewear of the highest standards of design and quality, underpinned by craftsmanship and innovation.”

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