In the first six months of 2025, France experienced a 5% decline in clothing exports and a 9% decrease in textile exports. According to data from the Institut Français de la Mode (IFM), these results were driven by weak large-scale exports, while imports from Asia surged.
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After stabilizing in 2024, France exported €6.6 billion worth of clothing in the first half of the year, including €3.6 billion (-2%) to the European Union. Among the country’s top 20 export destinations, the sharpest declines in Europe were in Italy (-6%), Spain (-10%), and the UK (-15%). In contrast, demand rose in Poland (+9%), Portugal (+9%), and Romania (+18%).
Outside of Europe, export declines also affected the United States (-9%) and the United Arab Emirates (-15%). In Asia, significant drops were recorded in China (-15%), Hong Kong (-15%), Singapore (-20%), and Japan (-4%).
Textile exports declined by 9% to €2.5 billion, with €1.5 billion of this amount going to EU countries. Notably, China dropped from first to third place among France’s top textile customers, following a 38% decline in orders — now placing it behind Belgium and Germany.
IFM
While there were notable gains in exports to Romania and Austria, orders declined in Madagascar (-20%), India (-19%), Turkey (-18%), and the Czech Republic (-11%).
Slight rebound in imports
After slowing in 2024 following three years of growth, French clothing imports rebounded in the first half of 2025, reaching €11.3 billion (+4%). This growth was fueled by €6.8 billion in imports from Asia, where a 12% increase is likely linked to the redirection of production from the American market to Europe.
Among France’s top 20 suppliers, imports rose from China (+13%), Bangladesh (+11%), India (+9%), Vietnam (+16%), Cambodia (+21%), Pakistan (+20%), and Indonesia (+18%). However, there were notable declines in imports from Turkey (-6%), Tunisia (-8%), Belgium (-11%), and especially Germany (-22%).
IFM
Textile imports stabilized at €3.8 billion in the same period. The 5% drop in imports from the EU was offset by a 7% increase in orders from Asia, which totaled €1.3 billion.
Notable increases in material imports came from China (+12%), Pakistan (+4%), India (+6%), and Vietnam (+13%). Meanwhile, sourcing from Italy (-9%), Germany (-4%), Belgium (-7%), and Spain (-10%) declined.
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The Italian competition authority said on Tuesday it had opened two investigations into Swiss watchmaker Swatch and Japan’s Citizen Watch.
Reuters
The probes involve an alleged infringement of European rules on the fixing of retail prices displayed online by the groups’ authorised distributors.
The two companies may be limiting price competition among their retailers through a vertical agreement, by imposing retail prices on their distributors and adopting “retaliatory commercial measures” against those that fail to comply, the antitrust authority said in a statement.
The agency’s officials carried out inspections at the Italian offices of Swatch and Citizen on December 3.
Swatch and Citizen did not immediately respond to a request for comment.
British retail tycoon Mike Ashley has pledged around 670 million pounds ($890.6 million) worth of shares in his sportswear and fashion retailer Frasers Group Plc as collateral for a loan from HSBC, according to filing on Tuesday.
Reuters
Ashley’s holding company, MASH Beta Limited, which holds the majority of Frasers’ issued share capital, pledged about 103.6 million ordinary shares.
Frasers’ shares were down about 1.3% at 646.5 pence as of Tuesday’s last close.
This move comes after the company’s heavy investments in newer geographies and taking or increasing shareholding in recent months across companies, from fashion groups to electrical retailers. Mike Ashley holds roughly a 73% stake in Frasers, according to data compiled by LSEG.
The company whose portfolio includes Sports Direct, House of Fraser and Flannels, reaffirmed its full-year profit forecast earlier this month.
G-III Apparel on Tuesday raised its full-year earnings forecast on the back of better-than-expected earnings in the third quarter, which also saw the U.S. firm’s sales drop 9% to $988.6 million.
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The New York-based firm logged earnings of $80.6 million, or $1.84 per diluted share during the three months ending October 31, compared to $114.8 million, or $2.55 per diluted share, in the prior year’s third quarter.
While profits were lower than the same period last year, the owner of Karl Lagerfeld, Sonia Rykiel, and DKNY brands, “delivered a strong third quarter with gross margins and earnings far exceeding our expectations,” according to said Morris Goldfarb, G-III’s chairman and chief executive officer.
“This was driven by the strength of our go-forward portfolio, particularly our owned brands, as well as a healthy mix of full-price sales and our mitigation efforts against tariffs. I am pleased with how our brands are resonating with consumers and encouraged by the solid demand we have seen throughout the holiday season to date,” continued Goldfarb, who said his company is raising its fiscal 2026 earnings guidance to “reflect our third quarter outperformance tempered by the uncertainties around the consumer environment and tariff-related margin pressures.”
In June, G-III Apparel filed a $250-million lawsuit against PVH Corp., escalating tensions between the two fashion giants with allegations of breached licensing agreements and interference in business relationships. The complaint, filed in New York state court, targets PVH and its Calvin Klein Inc. and Tommy Hilfiger licensing divisions.