Worldview | Asian, African and Arab Fashion Leaders Forge Ties in Moscow

🇷🇺 Emerging market leaders forge ties at Russia’s BRICS+ Fashion Summit. Industry leaders from more than 60 countries across Asia, the Middle East, Africa and Latin America have gathered in Moscow for the fourth edition of the event, running from Sept. 28 to 30, with discussions spanning investment, manufacturing, retail and artificial intelligence. Speakers include China’s Ontimeshow showroom founder Yeli Gu, Brazilian fashion label Farm Rio’s BD lead Aline Souza de Oliveira, India’s KGL founder Kanika Goyal, Ethiopia’s Hub of Africa Fashion Week founder Mahlet Teklemariam, Egyptian Fashion and Design Council co-founder Susan Sabet and Jordan Fashion Week founder Shirene Rifai. They are joined by Russian industry leaders such as Melon Fashion Group CEO Anton Letushev, GUM department store CEO Teimuraz Guguberidze and Lamoda’s B2C CPO Inna Galiakhmetova. This year’s programme puts particular emphasis on the infrastructure needed to scale local brands, including financing, production, certification and distribution, as emerging market players contend with rising costs and barriers to international expansion.

“Geopolitical uncertainty and regional conflicts continue to disrupt global supply chains in the fashion industry,” said Turkey’s Cem Altan, executive board member of the International Apparel Federation. “At the same time, brands and manufacturers are facing growing demands for sustainability, transparency and speed. Under these conditions, the industry needs more resilient partnerships among all participants in the value chain.” Founded in 2023 by the Moscow-based Fashion Foundation to facilitate cross-border opportunities between businesses in the original BRICS nations — Brazil, Russia, India, China and South Africa — and newer members Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia, the summit’s reach has since extended well beyond the bloc. Those ties have taken on greater significance as many European and North American businesses have withdrawn from Russia over its war in Ukraine. [BoF Inbox]

🇮🇳 Noel Tata counters Tata Sons IPO push with restructuring plan. Tata Trusts chairman Noel Tata has proposed merging Tata Electronics and Tata Consulting Engineers into Tata Sons, Tata Group’s holding company, in an attempt to keep the Indian conglomerate private. The restructuring would add enough operating revenue and assets to potentially remove Tata Sons from Reserve Bank of India rules requiring certain non-bank financial companies to list. Tata Sons chairman N Chandrasekaran has backed a listing, putting him at odds with Noel Tata. Tata’s retail interests include Trent, owner of homegrown fast fashion giant Zudio and department store chain Westside, and watch and jewellery firm Titan Company, whose brands include Tanishq, CaratLane, Mia and Zoya. Trent also operates Zara in India through a joint venture with Inditex. The wider Tata Group comprises more than 30 companies spanning sectors including automotive, technology and energy, with combined revenue of $185 billion in the latest financial year. [Financial Times, Reuters]

🇷🇺 Moscow Fashion Week deepens its focus on Asian partnerships. More than 80 runway shows are taking place from Sept. 26 to Oct. 1, with more than 350 designers participating across the catwalk programme, showroom and pop-up. Russian designer brands on the runway include Slava Zaitsev, Alisa and Julia Ruban’s eponymous label Ruban, Evgenia Linovich’s Masterpeace and Victoria Andreyanova, alongside international brands from more than 10 countries, with Asian participants from China, India, Kazakhstan and Sri Lanka as well as designers from Kenya, Belarus and Nicaragua. Organisers are using the event to broaden Russian brands’ reach domestically and internationally, with links to Asian and other non-Western markets gaining greater importance amid Russia’s reduced commercial ties with much of Europe and North America following its 2022 full-scale invasion of Ukraine. [BoF Inbox]

🌍 US and African countries partner to build cotton and apparel supply chain. The US-Africa Trade Desk and governments of Lesotho, Mauritius and Kenya have launched the Trans-Atlantic Cotton Partnership to supply traceable US cotton to African textile and apparel manufacturers exporting to the American market. The initiative follows a turbulent period for the African Growth and Opportunity Act (AGOA), which gives 33 eligible sub-Saharan African countries (including Gabon, reinstated in 2026) duty-free US access for products including qualifying apparel. The programme lapsed in September 2025 before being retroactively restored in February and extended this month through 2028, leaving the industry without the longer-term certainty it has sought. [Sourcing Journal, BoF Inbox]

🇨🇳 Chinese footwear brand Pane reportedly secures funding from BA Capital. The Shanghai-based sneaker brand has raised an undisclosed amount from BA Capital, a consumer-focused investment firm founded in 2016 whose portfolio includes Pop Mart and luxury jeweller Laopu Gold. Pane, which was launched in 2022 by Full Monty founder Chen Ning, now operates eight directly owned stores across six Chinese cities and sells on Tmall. According to corporate records on Qichacha cited by Jing Daily, BA Capital founder David He Yu joined the board of Pane’s operating company in August. [Jing Daily]

🇮🇳 Indian jeweller Omara Ventures seeks to raise up to $4.3 million in IPO. The Chandigarh-based company plans to raise up to 41.99 crore rupees through a fresh issue of up to 13.50 lakh shares opening Sept. 30 on Indian stock exchange BSE’s platform for small and medium-sized enterprises. Omara Ventures, incorporated in 2020, sells natural diamond, gemstone and precious-metal jewellery under its flagship Omara brand, which was founded by Samarth Jaiswal in 2015. The company plans to use the proceeds to repay debt, fund long-term working capital, renovate and expand its jewellery boutique and increase marketing. [Economic Times]

🇳🇿 New Zealand outdoor group KMD Brands posts $235 million loss. The owner of outdoor brand Kathmandu, surfwear label Rip Curl and hiking footwear brand Oboz recorded a statutory loss of NZ$414.4 million ($235 million), including a NZ$394 million post-tax impairment charge, despite group sales rising 6.5 percent to NZ$1.05 billion. The Christchurch-registered, Melbourne-based company is dual listed on the New Zealand and Australian stock exchanges. “The progress achieved during FY26 reinforces our belief that there is substantial potential within the business,” said CEO Brent Scrimshaw. [Ragtrader, Inside Retail NZ]

🇮🇳 Indian jewellery manufacturer Baanganga files for $75 million IPO. The B2B gold and diamond jewellery maker has filed draft papers for an offering of up to 720 crore rupees, comprising up to 540 crore rupees of fresh shares and a 180 crore-rupee offer for sale by its promoters. Baanganga plans to allocate 405 crore rupees of the fresh proceeds to working capital. The company operates three factories in Mumbai and supplies major jewellery retailers including Malabar Gold & Diamonds, Kalyan Jewellers and Joyalukkas. [Economic Times]

🇵🇦 Panama Fashion Week brings together designers from seven countries. The 26th edition, held in Panama City from Sept. 24 to 27, featured designers and brands from Panama and five other Latin American markets comprising Guatemala, Colombia, Costa Rica, Brazil and Venezuela, as well as Spain. Panamanian designers included Veronica Angel and John Bejarano, while international highlights included Colombian label Toscano and a Brazilian collective featuring Colcci and Schutz. [La Estrella de Panama]

🇮🇳 Indian jeweller BlueStone investors sell 4.07% stake for $53.5 million. Global venture capital firm Accel and funds managed by Indian wealth and asset manager 360 One sold 61.98 lakh shares in the Bengaluru-based jewellery retailer for 513 crore rupees through separate block deals on Indian stock exchange BSE. Founded in 2011 by Gaurav Singh Kushwaha, BlueStone operates 352 stores across 139 cities. The deal follows a 243 crore-rupee stake sale by Accel, 360 One and IvyCap Ventures in June. [Economic Times]

🇨🇳 Chinese cashmere giant Erdos partners with University of Cambridge. The resulting menswear and womenswear collection draws on Cambridge motifs including its lion emblem and collegiate stripes, following a research trip by Erdos’s design, merchandising and marketing teams. Established in 1980, Erdos was founded by Wang Linxiang and is now led by his daughter Jane Wang, overseeing a portfolio of five fashion brands: 1436, Erdos, Erdos 1980, Blue Erdos and Erdos Kids. [Tatler]

🇮🇳 Indian lab-grown diamond jewellery startup Onya raises $1.3 million. The Bengaluru-based brand raised 12.5 crore rupees in a pre-Series A round led by Divisa Family Office, with existing investor Zeropearl VC also participating. Founded in 2024 by Himani Yadav and Gaurav Choudhary, Onya operates eight stores across India. The funding will support retail expansion and investment in digital capabilities, product design and manufacturing. [Economic Times]

🇦🇺 Luxury labels scale back their presence at Australia’s David Jones. Gucci, Dior and Chanel have reportedly withdrawn handbags, shoes or both from the Australian department store, weakening its luxury offering. The changes come amid wider strains with suppliers over late payments. The retailer is owned by private equity firm Anchorage Capital Partners, which acquired it in 2023. [Australian Financial Review, Ragtrader, BoF Inbox]

🇮🇳 Indian accessories brand Indian Walker raises pre-seed funding. The Delhi-based backpack brand raised an undisclosed amount from Mumbai-based private wealth manager Palette Wealth Management at a post-money valuation of 20 crore rupees ($2 million). Founded by Md. Sakib in 2025, Indian Walker plans to use the funding to increase inventory and expand its product range and team. [Economic Times]

🇨🇳 MAC Cosmetics names Chinese musician Leah Dou brand ambassador. The singer-songwriter and actress has been appointed an ambassador for the Estée Lauder-owned beauty brand. Dou, the Beijing-born daughter of music stars Faye Wong and Dou Wei, has about 2.9 million followers on Weibo. She is also an ambassador for Chanel and Ugg. [BoF Inbox]

🇧🇩 Indian apparel giant Pearl Global expands manufacturing in Bangladesh. The Gurugram-based manufacturer has commissioned a new garment factory with annual capacity of about 7 million pieces. Pearl Global also manufactures in India, Vietnam, Indonesia and Guatemala and supplies major international fashion retailers including Gap, Kohl’s and Macy’s. [Fibre2Fashion]

🇴🇲 Omani jeweller Amtur Gold & Diamonds accelerates regional expansion. The Muscat-based gold, diamond and bullion retailer, led by owner and managing director Sameer Khan, opened its first Qatari branch in Doha on Sept. 6, taking its regional network to 14 branches across Oman, the United Arab Emirates and Qatar. [Zawya, Qatar Tribune]

🇨🇳 Tod’s names Chinese actress Zhu Zhu brand ambassador. The “Marco Polo” actress, who has more than 3.4 million followers on Weibo, has been appointed an ambassador for the Italian luxury brand. Beijing-born Zhu joins fellow Chinese actor Xiao Zhan on Tod’s ambassador roster. [BoF Inbox]