Fashion
US investor Wood presents new proposals to overhaul Swatch board
By
Reuters
Published
November 24, 2025
U.S. investor Steven Wood renewed his campaign to overhaul the board of Swatch Group, publishing six proposals to amend the Swiss watchmaker’s corporate governance, his firm GreenWood Investors said on Monday.
The proposals include allowing so-called bearer shareholders to elect three representatives to the board, said GreenWood, which says it holds about 0.5% of Swatch’s share capital. The bearer shareholders hold a majority of the firm’s share capital, but not of voting rights.
Wood has been pressing Swatch to focus more on its luxury brands such as Breguet and Blancpain in an attempt to turn around the fortunes of the Swiss company, whose shares have roughly halved in value since early 2023.
Unlike with earlier plans, GreenWood will not call an extraordinary meeting but seek a vote at Swatch’s next annual general meeting.
In May, Wood failed in a bid to secure a seat on the company’s board as a bearer shareholder representative, meeting resistance from the Hayek family, which controls over 44% of voting rights and a smaller chunk of the share capital.
Known for its plastic watches and luxury brands including Omega, Swatch acknowledges bearer shareholders’ right to representation but disputes how they should be chosen.
Wood argues shareholders should elect their own as rival firm Richemont allows.
Asked about Wood’s proposals, a Swatch spokesperson said the company had received a letter from GreenWood.
“In it, GreenWood Investors informs us they will provide evidence that GreenWood meets the legal requirements for placing motions on the agenda of the next (AGM),” the spokesperson said. “So far we have not received any such evidence.”
© Thomson Reuters 2025 All rights reserved.
Fashion
H&M India unveils official Lollapalooza India 2026 collection
The collection features distinct women’s and men’s capsules designed for movement, comfort and self-expression.
H&M India has launched its official Lollapalooza India 2026 merchandise collection, marking its second year as festival sponsor.
The limited-edition drop features bold graphics, vibrant colours and relaxed silhouettes.
With separate women’s and men’s capsules, the range includes graphic tees, caps and tote bags designed for comfort, movement and self-expression from day to night performances.
“Lollapalooza India is a strong cultural moment, and a natural space for H&M to connect with a younger generation. Fashion today is about self-expression and confidence, and through this collaboration we reinforce our commitment to creating accessible, culturally relevant fashion that empowers individuality,” said Helena Kuylenstierna, Director, H&M India.
The range features graphic merchandise tees for both women and men, along with festival essentials such as caps and tote bags. Each piece is designed to move seamlessly from day sets to night performances.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Fashion
Australia’s apparel imports fall, textiles rise in July-Nov 2025
Apparel imports (code **) eased to Au$*.*** billion (~$*.*** billion), compared with Au$*.*** billion a year earlier. In November ****, imports fell sharply by **.** per cent year on year to Au$*.*** billion (~$*.*** billion) from Au$*.*** billion. The November contraction points to retailers delaying replenishment amid weak consumer confidence, promotional stock overhangs, and a preference for tighter inventory management ahead of the peak sales season.
Imports of textile yarn, fabrics, and made-up articles (code **) increased *.** per cent to Au$*.*** billion (~$*.*** billion) from Au$*.*** billion in the same period last year. However, November **** shipments under this category slipped to Au$*** million, down from Au$*** million in November ****, indicating short-term moderation after earlier restocking by manufacturers and converters.
Fashion
CFDA & Ralph Lauren launch grants to boost US fashion manufacturing
The CFDA x NY Forward Grant Fund, developed with funding from both the New York State Department of State and Ralph Lauren Corporation (Ralph Lauren), will provide partially matching grants to designers and manufacturers based in New York City’s Garment District. The U.S. Fashion Manufacturing Fund, created with Ralph Lauren as founding partner, will support apparel manufacturers nationwide. Both programs aim to help companies to modernize equipment, expand services, and train workers – building the capacity and resilience of American fashion manufacturing.
CFDA has launched two new grant programmes with Ralph Lauren to strengthen American fashion manufacturing.
The CFDA x NY Forward Grant Fund will support New York City’s Garment District, while the US Fashion Manufacturing Fund will aid manufacturers nationwide, focusing on modernisation, workforce training, innovation and long-term industry resilience.
These programs build on the success of the CFDA’s Fashion Manufacturing Initiative (FMI), launched in 2013 in affiliation with the New York City Economic Development Corporation (NYCEDC), Andrew Rosen, and with the long-term support of Ralph Lauren, among others. To date, Ralph Lauren has contributed $2 million as FMI’s Premier Underwriter, enabling grants to 54 factories and positively impacting more than 2,000 jobs.
“Strengthening American manufacturing to ensure designers have local partners has long been at the core of CFDA’s mission,” said Steven Kolb, CEO and President of the CFDA. “We are proud to extend our decade-plus work with Ralph Lauren Corporation and expand to a national level while also continuing our local NYC investments alongside our first-ever partnership with the New York State Department of State.”
Together, these new grant programs mark a landmark commitment: sustaining New York’s Garment District while bolstering U.S. manufacturing nationwide — ensuring that American fashion continues to lead globally through innovation, craftsmanship and community.
“Our expanded partnership with the CFDA reflects Ralph Lauren’s enduring commitment to advancing innovation and supporting American fashion,” said Katie Ioanilli, Chief Global Impact & Communications Officer, Ralph Lauren Corporation. “This is not only an investment in our industry — it’s an investment in a vital part of American culture that we share with the world.”
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
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