De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
tariff
Retail
How the End of the De Minimis Exemption Will Impact US Shoppers and Businesses
The Trump administration has ended duty-free imports for packages under $800, known as the de minimis exemption, likely leading to higher costs for US consumers as businesses increase prices.
How the End of the De Minimis Exemption Will Impact US Shoppers and Businesses
The Trump administration has ended duty-free imports for packages under $800, known as the de minimis exemption, likely leading to higher costs for US consumers as businesses increase prices.
Executive Briefings
The Executive Briefing: Why US Shoppers Are So Angry; Fashion’s Sports Obsession; An AI Bubble?
The fashion industry is searching for ways to speak to a consumer mindset that’s growing more pessimistic and frugal by the day. The answer? Sports, mid-priced handbags and artificial intelligence. Read on for your concise breakdown of August’s key developments from executive editor Brian Baskin.
The Executive Briefing: Why US Shoppers Are So Angry; Fashion’s Sports Obsession; An AI Bubble?
The fashion industry is searching for ways to speak to a consumer mindset that’s growing more pessimistic and frugal by the day. The answer? Sports, mid-priced handbags and artificial intelligence. Read on for your concise breakdown of August’s key developments from executive editor Brian Baskin.
Global Markets
India’s Textile Sector Reels as US Imposes 50% Tariffs
Some apparel and textile manufacturers have already halted production due to ‘worsening cost competitiveness.’
India’s Textile Sector Reels as US Imposes 50% Tariffs
Some apparel and textile manufacturers have already halted production due to ‘worsening cost competitiveness.’
Retail
Consumer Resilience to Be Tested as Tariff-Fuelled Price Increases Brew
US retailers remain bullish on the resilience of US consumers, a sentiment that could soon be put to the test as tariff-fuelled price hikes increasingly show up on shelves.
Consumer Resilience to Be Tested as Tariff-Fuelled Price Increases Brew
US retailers remain bullish on the resilience of US consumers, a sentiment that could soon be put to the test as tariff-fuelled price hikes increasingly show up on shelves.
Retail
Why Off-Price Is Entering a New Golden Age
With stronger-than-expected sales, a higher annual forecast and a playbook built for tariff turbulence, TJX is proving that off-price is not just resilient but ascendant in fashion — leaving traditional retail competitors scrambling to keep up.
Why Off-Price Is Entering a New Golden Age
With stronger-than-expected sales, a higher annual forecast and a playbook built for tariff turbulence, TJX is proving that off-price is not just resilient but ascendant in fashion — leaving traditional retail competitors scrambling to keep up.
Beauty
Trump’s Tariffs Imperil US Black Hair Businesses
The prices of hair extensions and hair glues used to create wigs and weaves have gone up exponentially after US president Donald Trump imposed a series of different tariffs on China and Vietnam, where the majority of Black beauty products are made.
Trump’s Tariffs Imperil US Black Hair Businesses
The prices of hair extensions and hair glues used to create wigs and weaves have gone up exponentially after US president Donald Trump imposed a series of different tariffs on China and Vietnam, where the majority of Black beauty products are made.
Global Markets
US Prices Continued Rise in July as Trump Tariffs Impact Consumer Costs
Trump has spent the last few months directing his ire at economic officials — first at the Fed, and now at the Bureau of Labor Statistics, which collects and reports economic data.
US Prices Continued Rise in July as Trump Tariffs Impact Consumer Costs
Trump has spent the last few months directing his ire at economic officials — first at the Fed, and now at the Bureau of Labor Statistics, which collects and reports economic data.
China
Trump Extends China Truce for 90 Days, Averting Tariff Hike
Had the truce not been extended through Nov. 10, US tariffs on Chinese goods would have jumped to at least 54% starting on August 12.
Trump Extends China Truce for 90 Days, Averting Tariff Hike
Had the truce not been extended through Nov. 10, US tariffs on Chinese goods would have jumped to at least 54% starting on August 12.
Luxury
End Times for Swiss Watchmakers?
This week, President Trump’s tariff on Switzerland went into effect, landing levies of 39 percent on every watch the country exports to the US. For some Swiss watchmakers, the threat is existential.
End Times for Swiss Watchmakers?
This week, President Trump’s tariff on Switzerland went into effect, landing levies of 39 percent on every watch the country exports to the US. For some Swiss watchmakers, the threat is existential.
Global Markets
Can India Become the World’s Fashion Factory?
As US president Donald Trump’s punishing new tariffs come into force, India is working towards becoming an apparel manufacturing powerhouse despite long-standing obstacles.
Can India Become the World’s Fashion Factory?
As US president Donald Trump’s punishing new tariffs come into force, India is working towards becoming an apparel manufacturing powerhouse despite long-standing obstacles.
Retail
Trump Doubles India Tariff to 50% to Punish Russian Oil Buying
The US President’s move came hours after talks between Washington and Moscow over the war in Ukraine failed to yield an immediate breakthrough.
Trump Doubles India Tariff to 50% to Punish Russian Oil Buying
The US President’s move came hours after talks between Washington and Moscow over the war in Ukraine failed to yield an immediate breakthrough.
Luxury
Swiss Watch Giant Navigates Trump’s Tariff Uncertainty
Swatch Group CEO Nick Hayek has front-loaded shipments to the US, is targeting American shoppers as they travel abroad and has raised its prices as it grapples with a new 39 percent US tariff on Swiss-made products.
Swiss Watch Giant Navigates Trump’s Tariff Uncertainty
Swatch Group CEO Nick Hayek has front-loaded shipments to the US, is targeting American shoppers as they travel abroad and has raised its prices as it grapples with a new 39 percent US tariff on Swiss-made products.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.