Worldview | China’s 618 Festival Sees E-commerce Growth Stall

🇨🇳 E-commerce sales growth stalls during China’s 618 shopping festival. The mid-year shopping spree once generated significant fanfare during China’s economic boom but delivered a subdued performance this year. Despite an extended discounting period from May 13 to June 18, the combined GMV (gross merchandise value, excluding food delivery and group buying) across e-commerce platforms including JD.com, Alibaba’s Tmall, Pinduoduo ​and Douyin reached 863.6 billion yuan ($127.48 billion), almost flat compared with last year’s ⁠855.6 billion yuan, according to data provider Syntun. Retail sales fell 0.6 percent in May overall, reflecting China’s prolonged economic slowdown despite tentative signs of recovery. It marked the first year-on-year decline since the country emerged from strict pandemic restrictions in 2022. Last year’s double-digit GMV spike during 618 appears to have been a one-off, with Dao Insights noting that “daily spending levels declined, suggesting growth was driven more by longer promotional periods than stronger consumer demand.” [Reuters, CNBC, Dao Insights]

🇮🇳 Middle East peace deal would boost India’s textile exports, says industry body. A lasting end to the US-Israeli war with Iran would be like a “shot in the arm” for India’s textile and apparel sector, said Ashwin Chandran, the chairman of the Confederation of Indian Textile Industries. “The turbulence in West Asia (the Middle East) had affected raw material supplies, supply chains and industrial energy, exerting huge pressure on the entire MSME-dominated textile and apparel industry that traditionally operates on narrow margins and where most entities lack the muscle to withstand prolonged financial shocks,” he said. “The return to normalcy in West Asia will lend momentum to India’s efforts to diversify textile and apparel exports beyond traditional markets. Furthermore, a disruption-free Strait of Hormuz will allow us to more effectively leverage the benefits of our active free trade agreements.” Textile Export Promotion Council chairman Vijay Agarwal said he expects an increase in India’s global competitiveness if the fragile peace deal signed this month between Iran and the US sticks. [Economic Times]

🌍 African leaders sign regenerative fashion ‘blueprint’ during climate week. “[Participants asked] the harder questions about production, waste, sourcing, and the systems that will shape what African fashion becomes next,” said Nigeria-based Omoyemi Akerele, who organised the African Fashion Compact II event and led last year’s Earthshot Prize win for Lagos Fashion Week, the showcase she founded. “The conversation placed collective action and shared accountability at the centre and before [the industry leaders left the room], they signed The Blueprint for a Regenerative Fashion Future, a declaration that the work doesn’t stop here.” Among those invited to take part in the London event were Nest co-founder Sonny Dolat from Kenya, Dakar Fashion Week founder Adama Paris from Senegal, Hub of Africa Fashion Week founder Mahlet Teklemariam from Ethiopia, Twyg’s Jackie May from South Africa, and two Ghanaian representatives, the Kokrobitey Institute’s Renee Neblett and The Or Foundation’s Sammy Oteng. [BoF Inbox]

🇸🇦 Saudi Fashion Commission inks manufacturing deal with Italy’s Minerva Hub. The organisation tasked with supporting Saudi Arabian designers and industry has partnered with the Milan-based industrial group specialising in advanced manufacturing and innovation for the sector. “Building a globally competitive fashion sector requires strong industrial capabilities, technical knowledge, and long-term investment in innovation,” said Burak Cakmak, CEO of the Saudi Fashion Commission. “Our collaboration with Minerva Hub reflects a shared ambition to strengthen the manufacturing and production ecosystem in Saudi Arabia by connecting global expertise with local opportunity.” Chaired by Matteo Marzotto, Minerva Hub was established in 2022 to protect and support Italian manufacturers across the high-end fashion supply chain and now includes more than 20 companies, from tanneries to jewellery producers. [BoF Inbox]

🇮🇳 Indian e-tailer Purplle puts fundraising discussions on hold. The Mumbai-based multi-brand beauty retailer has reportedly paused fundraising talks with private equity investors over valuation differences. The Economic Times reported that the company has shelved discussions with investors KKR, TPG Growth and ChrysCapital to raise about 1,800 crore rupees ($190 million) at a valuation of 13,000 crore rupees ($1.3 billion). Purplle’s six in-house labels — Faces Canada, Alps Goodness, Good Vibes, Carmesi, NY Bae and Dermdoc — account for just over half its sales, with the remainder coming from local and global brands including L’Oréal, MAC, Maybelline and Lakme and Mamaearth. The digital-first firm founded by Manish Taneja, Rahul Dash and Suyash Katyayani in 2012 is doubling down on these brands and its physical retail footprint which currently stands at around 200 stores nationwide. [Economic Times]

🇸🇦 Saudi Arabia’s AFG International appoints Sameer Jain as CEO. Before succeeding Salim Fakhouri, Jain served as CEO of new businesses and Home Centre Middle East at Landmark Group. Earlier in his career, Jain held leadership and advisory roles with leading global consulting firms, including McKinsey & Company, AT Kearney and Ernst & Young. Saudi retailer Cenomi Retail (formerly Fawaz Abdulaziz Alhokair & Co.) rebranded as AFG International in January after UAE conglomerate Al-Futtaim acquired a 49.95 percent stake in the company in 2025. The Riyadh-based franchise retailer operates over 800 stores for more than 40 global brands, including Mango, Zara and LC Waikiki, across eight countries in the Middle East, North Africa and CIS regions. Cenomi Centers, a separately listed shopping-mall operator that runs more than 20 malls across Saudi Arabia, is not part of AFG International. [Zawya, BoF]

🇵🇱 Poland’s LPP posts 42% profit surge as Sinsay brand drives growth.The Gdansk-based group, one of Eastern Europe’s largest fashion manufacturers and retailers, posted 475 million zlotys ($129 million) in net profit during Q1 2026, driven by its value-focused brand Sinsay. The group, which sells its Mohito, Reserved, House, Cropp and Sinsay brands to around 40 countries, saw revenue rise 11 percent year on year in constant currencies to 5.5 billion zlotys ($1.485 billion). “The fifth consecutive quarter of improved profitability shows that the effects of measures taken in the areas of operational agility, cost control and inventory optimisation are sustainable,” said Marcin Bojko, LPP’s vice president for finance. [Reuters, Fibre2Fashion]

🇦🇺 Australian department store David Jones names Erica Berchtold as CEO. The loss-making luxury department store group — which recently secured a new three-year credit facility of more than A$200 million (US $140 million) from Hilco Capital — has appointed Berchtold as its first female chief executive, replacing Scott Fyfe who led the Melbourne-based retailer for over five years. Since mid-2025, Berchtold served as chief commercial officer at the group which operates around 37 stores in Australia and one in New Zealand. Prior to that, she served as CEO of e-commerce major The Iconic for over four years. The apparel retail veteran was previously a councillor on the board of the Australian Retailers Association and president of the Australian Sporting Goods Association. [Ragtrader, Australian Financial Review]

🇨🇲 Cameroon seeks support from Tunisia for its cotton and textile industry. The West African nation’s chamber of agriculture, fisheries, livestock and forestry (CAPEF) have discussed a collaboration with Tunisia’s Textile Technical Centre (CETTEX) to help support the development of the former’s cotton value chain across production, spinning, weaving, garment manufacturing and the marketing of finished textile products. Cameroon, which aims to gain technology and knowledge transfer in the sector, has identified export opportunities such as professional workwear and printed fabrics for African markets. [Fibre2Fashion]

🇯🇵 Japanese retailer United Arrows rebrands amid diversification push. The Tokyo-listed fashion retailer founded in 1989 as a single Shibuya store has renamed itself Tabaya Holdings. Today, the group operates 258 stores across Japan, 14 in Taiwan and one in mainland China selling its namesake brand and other labels. According to Japan Consuming, the newly named group is targeting “300 billion yen ($1.85 billion) by 2032 through M&A and lifestyle diversification beyond the core fashion business.” [Japan Consuming]

🇮🇳 Bata India appoints Sanjay Rao as chief executive and managing director. The Gurugram-based company behind the Bata brand and labels including Power and North Star has tapped the retail and consumer goods veteran for the top job. The Indian unit is part of Bata Corporation, a Swiss-based multinational group selling 150 million pairs of shoes annually across 70 countries. Rao was most recently the senior director of Nike Retail for France and Benelux countries. Prior to that he held executive roles at Guess in France and Inditex. [Economic Times]

🇵🇦 Panama’s premium malls are attracting luxury brands amid upgrades. Brands such as Bulgari have opened stores at Multiplaza and others including Alo Yoga have expanded their presence there over the past 10 months, using shopping centres in Panama City as a gateway to expansion in the wider Central American region. Meanwhile, the mass-market shopping centre AltaPlaza Mall has announced openings and upcoming arrivals of its own, including Adidas, Old Navy, Eddie Bauer and more. [Fashion Network]

🇮🇳 India’s Advit Jewels is going public to fund its expansion of Rambhajo. The Jaipur-based gold jewellery company’s IPO opens for subscription this week following a round from private investors including Rajasthan Venture Capital. “Without disturbing our B2B presence, we plan to expand our consumer-facing business with 30 retail showrooms across India in the next three years,” said chairman and MD Nitin Gilara, about the company’s Rambhajo brand. [Economic Times]

🇲🇦 Morocco’s apparel exports fall 8% with Spain remaining the top market. The North African country’s apparel exports fell year on year to $892.82 million in the first quarter of 2026, as shipments to key European markets weakened. Spain remained the largest destination, accounting for over 63 percent of exports, followed by France, Germany, the UK and Italy. [Fibre2Fashion]

🇮🇳 Rolex names Indian actress Priyanka Chopra as brand ambassador. The Bollywood star turned Hollywood producer was a Bulgari ambassador for before being tapped by the luxury Swiss watchmaker. [Hindustan Times]