Vietnam’s Largest Listed Jeweller Forecasts Loss After Diamond Scandal
PNJ also plans to slash its revenue target. Losses in 2026 are expected as a result of a huge provision for customer buybacks following a smuggling scandal.
Global Markets
A guide to unlocking opportunity in emerging and frontier fashion markets.
US Customs Agency Says Tariff Refund System Will Be Ready in 45 Days
The Supreme Court did not say how the collected tariffs should be refunded when it struck Trump’s economic policy down as unconstitutional last month, leaving small importers worried the process would be expensive and time-consuming.
When War and Luxury Collide
Escalating conflict in the Middle East is exposing how quickly geopolitics can disrupt even luxury’s most carefully cultivated retail hubs.
War in the Gulf Tests Resilience of a Rare Bright Patch for Luxury
The escalating US-Israel conflict with Iran is rattling the aura of stability created by Dubai and the wider region, threatening one of the industry’s few bright spots.
Luxury Brands Shut Middle East Stores as Conflict Causes Chaos
Escalating conflict in the Middle East is causing major disruption and store closures for high-end and mass-market retailers, threatening a key growth engine for the global luxury industry.
Worldview | Middle East Retailers Rattled by Escalating Iran Conflict
This week’s round-up of global markets fashion business news also features Sri Lankan apparel manufacturers, Vietnam’s textile exporters and Korean brands in China.
Gulf Businesses Reel as Iran Strikes Trigger Aviation Chaos
Regional business activity has been disrupted after Iran launched strikes across Gulf nations in response to the US-Israeli assault on Tehran, triggering airport closures or restrictions in Dubai, Abu Dhabi and Doha.
China’s New Playbook for Buying Western Fashion Brands
After past stumbles, Chinese capital is taking a more measured approach to investments in US and European fashion labels, tempering expectations for breakneck expansion. Will it work?
Worldview | Asia’s Garment Factories Brace for Renewed Tariff Chaos
This week’s round-up of global markets fashion business news also features Jumia’s exit from Algeria, China’s JD.com and the Brazilian beauty brand that offloaded its Russian unit.
Fashion Needs to Rethink Its Ramadan Formula
Middle East retailers are urging global brands to sync with customers’ rhythms during the Muslim holy month and move beyond marketing spectacle to more culturally grounded campaigns.
At Siam Piwat, Capturing Thailand’s Growing Retail Opportunity
With Thailand’s luxury retail industry positioned for growth in 2026, Siam Piwat’s CEO Chadatip Chutrakul discusses the strategy behind the retail and development group’s experiential shopping mall Iconsiam, its global influence and how the group seeks to position Thailand as a world-class retail destination.
Gen Alpha Is Helping Revive China’s Struggling Malls
Shopping centers grappling with the shift to e-commerce increasingly focus on kids, hoping their parents will tag along.
Worldview | How China’s Tariff Cuts Benefit African Fashion
This week’s round-up of global markets fashion business news also features M&A in Vietnam, Australian jewellers and Turkish textile giants in Latin America.
THE NEWS IN BRIEF
Chanel Plans to Keep Investing in China Despite Demand Downturn
CEO Leena Nair pointed to the brand’s recent renovation of its Plaza 66 boutique in Shanghai, calling China ‘a market where the clients understand sophistication, refinement.’
Fashion Empire Azzas 2154 to Split Two Years After Failed Merger
Both companies that previously comprised one of Brazil’s largest apparel exporters will retain a stake in Farm Rio after separating.
Indian Fashion Retailer Purple Style Labs Plans IPO
The Bollywood star-backed company behind multi-brand retailer Pernia’s Pop-Up Shop will launch its share sale next week as it taps demand for luxury wedding and occasion wear.
Trump Picks White House Ally Overton to Lead Embattled FDA
The US president chose an ally to steady an agency shaken by staff losses, low morale and fights over vaccines and drug approvals.
Russian E-Tailer Wildberries Hit by Wave of Ukrainian Drone Strikes
The e-commerce giant has seen at least 20 warehouses attacked since mid-July as Kyiv steps up strikes inside Russia and Moscow intensifies its bombardment of Ukraine, more than four years into its full-scale invasion.
Adidas Shares Plunge After World Cup Spend Dents Profit
Shares in the company fell the most on record after its marketing outlay for the World Cup resulted in lower-than-expected quarterly profit.
Chinese Jeweller Laopu Gold’s Shares Drop on Growth Outlook
The jeweller lost $2.1 billion in market value after forecasting first-half 2026 revenue growth of up to 66 percent, a sharp slowdown from last year that unsettled investors in one of China’s most viral consumer brands.