Worldview | Buenos Aires Fashion Week Holds Firm Despite Manufacturing Woes

🇦🇷 Buenos Aires Fashion Week designers press ahead despite factory closures. Even as Argentina’s textile and apparel manufacturing sector faces one of its worst downturns in decades, Bafweek drew record attendance for its Spring-Summer 2027 edition, according to organiser Irsa, the local property developer and shopping centre operator behind the biannual event. Held from Aug. 24 to 28 at La Rural in the Argentine capital, the event drew crowds of up to 2,500 on some days, reaching venue capacity, according to Gastón Manganiello, chief marketing officer of Irsa, who also serves as director of Bafweek (fashion week’s official name). Argentine fashion producers face mounting pressure from falling demand and a surge in lower-priced imports, many from Asia. Meanwhile, libertarian president Javier Milei’s reforms, which include strengthening the peso, slashing red tape and opening the economy, are aimed at bringing down consumer prices but have also fuelled a surge in contraband — a mixture of counterfeits and legitimate products imported illegally to avoid customs fees, including clothing.

Against this backdrop, a string of long-established manufacturers have closed, cut production or shed jobs since the beginning of the year. “Argentine fashion is shaped by ongoing crises, which create both uncertainty and a powerful source of creativity,” said Vanesa Krongold, one of the established designers at fashion week. This season’s line-up paired big names including Kosiuko, Maria Cher, Las Pepas and Top White with independent brands such as Luz Ballestero, Sadaels, DeCrisci and Pucheta Paz. Veteran eveningwear designer Fabián Zitta returned to the runway after 15 years while century-old tailoring house GNZ González made its womenswear debut. Weathering the downturn will also require greater backing for local brands from both consumers and investors, industry figures say. “In the context of industrial crisis and falling sales, private-sector support for local fashion takes on particular importance,” said Lucia Levy, a fashion journalist and founder of La Curva de La Moda. “It provides visibility and momentum, demonstrates resilience and serves as a platform for emerging talents.” [Graciela Martin for BoF]

🇧🇷 Brazilian denim giant Vicunha Têxtil returns to profit, adjusts to Shein era. The São Paulo-based denim and jeanswear manufacturer prioritised debt reduction during the first half of the year, according to company CEO Marco Antônio Branquinho. Controlled by the Steinbruch family, Vicunha recorded net revenue of 1.04 billion reais ($200.1 million) in the first six months of the year, down 18 percent year on year. But the bottom line improved sharply, as it earned 18.78 million reais in net profit during the period, reversing a net loss of 33.9 million reais in the same period last year. One of Brazil’s largest textile manufacturers, Vicunha operates factories in Argentina and Ecuador as well as Brazil and employs 6,320 people. Speaking about ultra-fast fashion firms such as China-founded Shein and e-tailers like Singapore-based Shopee, Branquinho said, “We are not against [their] imports; we also export. But allowing this type of import, which often disregards environmental, labour, and tax laws, is a crime against the nation.” The executive argued that Brazilian retail is being replaced by Asian companies, to the detriment of 25,000 domestic clothing manufacturing companies. “We’re going to pay a very high price for this. In a short time, we won’t have industry or retail anymore; we’re destroying the capacity to generate jobs and income.” [Bloomberg Línea]

🇦🇺 Australian luxury e-tailer Cettire’s net loss widens in a turbulent year. The company recorded a 3 percent decline in revenue to A$718.4 million (US$516.3 million) in the 2026 financial year. Cettire recorded a net loss of A$8.5 million, widening from A$2.6 million a year earlier. Active customer numbers fell 8 percent from 657,000 last year to 605,000, while the company briefly halted trading in May before unveiling a Tmall Global partnership aimed at bolstering its China business. The Melbourne-based, ASX-listed company founded by Dean Mintz in 2017 reportedly uses drop-shipping to sell labels like Prada, Burberry and Gucci at discounts via third-party and direct suppliers to global consumers. “During the period, US tariff changes, including the impact from the removal of the de minimis exemption, contributed to ongoing challenges in our largest market,” Mintz said. [Ragtrader]

🇮🇳 Indian jewellery supplier Deepa Jewellers sets terms for $52.5 million IPO. The Hyderabad-based company will seek 459.72 crore rupees ($52.5 million) in an initial public offering opening Sept. 1, pricing shares at 168 to 177 rupees each. The offer comprises a 250-crore-rupee fresh issue and a 209.72 crore rupee offer for sale by existing shareholders, with 215 crore rupees of the fresh proceeds earmarked primarily for working capital and expanding jewellery inventory. Founded in 2016 by Ashish Agarwal, Deepa is a B2B designer and supplier of gold and precious-stone jewellery to retail chains and independent stores. The company’s total income rose 38 percent to 1,927.73 crore rupees in the year ended March, while net profit more than doubled to 104.79 crore rupees. [Economic Times, BoF Inbox]

🇦🇺 Australian jeweller Lovisa’s gross profit soars 18.4%. The company reported a 17.6 percent increase in revenue to A$938.8 million (US$674 million) in the 2026 financial year, with gross profit rising to A$775.3 million during the period. “Our balance sheet remains strong with available cash and debt facilities supporting continued investment in growth,” said the company, with CEO John Cheston crediting much of the year’s growth to momentum in the Americas and Europe. The Australian listed retailer, founded in Sydney in 2010 by Shane Fallscheer and Brett Blundy’s BB Retail Capital, is now based in Melbourne and operates a network of 1,136 stores across more than 50 markets. [Australian Financial Review, Ragtrader]

🇨🇳 Jack Ma buys $76.5 million in Alibaba shares after AI fundraising hits stock. The Alibaba co-founder bought more than HK$600 million ($76.5 million) of shares after the Chinese internet giant’s HK$80 billion ($10.2 billion) share placement to fund AI investment triggered a sharp fall in its stock. Ma’s purchase, alongside share purchases by chairman Joe Tsai and CEO Eddie Wu, was seen as signalling confidence in the group’s AI strategy following the negative market reaction. Founded in Hangzhou in 1999 by Ma and others, Alibaba operates Taobao and Tmall, major e-commerce channels for domestic and international fashion and luxury brands in China. [South China Morning Post, Reuters]

🇻🇪 Venezuela’s textile and footwear production rebounds in Q2. Output in the sector rose 12.3 percent year on year in the second quarter of 2026, reversing an 11.4 percent first-quarter contraction amid financing constraints and infrastructure problems, according to Caracas-based industry association Conindustria. The rebound comes amid a turbulent year for Venezuela, following the US military operation that captured and removed Nicolás Maduro from power in January and devastating earthquakes in June. [FashionNetwork, BoF Inbox]

🇮🇳 Kalyan Jewellers, Tanishq and Joyalukkas tap India’s cash-for-gold boom. The major jewellery chains are tapping growing demand from consumers seeking to monetise their holdings as bullion prices soar. Old-gold-for-cash transactions have risen to around 20 percent of jewellery business in August from 5 percent a year earlier, bringing a trade traditionally associated with smaller jewellers further into organised retail. [Economic Times]

🇻🇳 Vietnam moves to strengthen recycling rules for producers and importers. The apparel and footwear manufacturing hub is reviewing its extended producer responsibility regime, which makes producers and importers responsible for recycling specified products and packaging, as part of revisions to its 2020 Law on Environmental Protection. Proposals include mandatory recycled content, design-for-recycling requirements and tighter rules for producer responsibility organisations. [Sourcing Journal]

🇨🇳 Lululemon puts China chief in charge of wider Asia-Pacific business. The Canadian sportswear giant promoted San Yan Ng, who has led its China business since 2018, to regional president of China and APAC, bringing the two regions under one leadership structure. Jeffrey Hang, most recently a Bulgari managing director and previously CEO of Louis Vuitton China, joins as senior vice president and general manager of APAC, reporting to Ng. Lululemon operates more than 170 stores in mainland China and over 110 elsewhere in the Asia-Pacific region. [BoF Inbox]

🇨🇳 Clarins names China’s Zhang Ziyi global spokesperson for skincare line. The Chinese actress will front Clarins Precious, the French beauty company’s premium line, in a global campaign rolling out in September. Zhang, who has more than 28 million followers on Weibo, has previously fronted brands including Clé de Peau Beauté, Maybelline, Proya, Emporio Armani and Chopard and is currently a global ambassador for Tiffany & Co. and Jaeger-LeCoultre; her film credits include “Crouching Tiger, Hidden Dragon,” “Memoirs of a Geisha” and “The Grandmaster.” [PR Newswire, BoF Inbox]

🇯🇵 Japanese apparel giant Uniqlo eyes more sourcing and investment in India. The Tokyo-based retailer is looking to source more textile and apparel products from India for its global network and expand investment in local manufacturing, according to Indian commerce minister Piyush Goyal, who met parent Fast Retailing chief Tadashi Yanai in Japan. Uniqlo currently operates 20 stores in India. [Apparel Resources]