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Global gold demand up 3% in second quarter as investment jumps, WGC says

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July 31, 2025

Global gold demand including over-the-counter (OTC) trading rose by 3% year-on-year to 1,248.8 metric tons in the second quarter of 2025 as investment jumped 78%, the World Gold Council said on Thursday.

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Spot gold prices are up 26% so far this year after hitting a record $3,500 per troy ounce in April as uncertain global trade policy and geopolitical turbulence fuelled inflows into safe-haven assets.

Demand for gold bars rose 21% in the second quarter, offsetting a continuing slump in demand for coins, said the WGC, an industry body whose members are global gold miners.

Physically backed gold exchange-traded funds recorded their largest semi-annual inflow since the first half of 2020 from January to June, the WGC said earlier in July.

Global gold jewellery consumption, the main category of physical demand, fell 14% to 341.0 tons, the lowest level since the pandemic-swept third quarter of 2020, as the high prices deterred buyers.
“Much of the decline came from China and India, whose combined market share fell below 50% for only the third time in the last five years,” the WGC said.

Central banks, another major source of gold demand, reduced purchases by 21% to 166.5 tons in the second quarter, the WGC calculated, based on reported purchases and an estimate of unreported buying.

On the supply front, recycling added 4% to 347.2 tons in the second quarter, but remained relatively subdued despite record prices, as Indian consumers opted to exchange old jewellery for new, or to pledge it as collateral against loans.

The WGC downgraded its estimate of this year’s gold purchases by central banks, adding that the longer-term trend of central banks reallocating from the U.S. assets to gold remains intact.

Gold ETFs have further upside potential in the second half of this year with retail investment due to soften modestly, the WGC added.

© Thomson Reuters 2025 All rights reserved.



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Gant promotes EVP Malm to CEO role

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December 5, 2025

Gant has a new CEO as of this month. The Swedish-but-with-American-roots brand has named Fredrik Malm as its chief executive, effective December 1.

Gant CEO Fredrik Malm

It’s an internal appointment with Malm having joined Gant in 2024 as EVP Commercial, Brand & Product. He succeeds Patrik Söderström, who’d led the company for six years.

Before joining the firm, Malm was CEO of SNS, and had been president Europe & International at Coach, as well as president of sales EMEA at Ralph Lauren, and retail director at ECCO.

Gant has been owned by privately-owned Swiss business MF Brands Group (which also owns Lacoste, Tecnifibre and Aigle) since 2008. And MF’s CEO Thierry Guibert said of Gant’s new leader: “Fredrik has brought valuable and extensive leadership experience from global premium fashion and lifestyle brands. 

“I have full confidence in his ability to support Gant in its next phase of development, which will notably involve the continued elevation of the collections and an accelerated retailisation across both physical and digital channels. 

“I would also like to deeply thank Patrik Söderström for his commitment alongside us over the past 10 years. He has played a pivotal role in transforming and elevating the brand while delivering strong financial performances over the years.”

Gant has been expanding this year, and in late May it reopened its Regent Street, London flagship. It said the refurbishment of the 6,300 sq m space “represents a key milestone in the brand’s global retail investments in the UK and worldwide”. Söderström said at the time that the reopening “kicks off a global initiative to elevate our retail experience”.

The company has also been focusing on its licenses and in June announced the early renewal of its exclusive licensing deal for the design, manufacture, and global distribution of its eyewear with Marcolin. 

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France seeks three-month suspension of Shein website in court hearing

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December 5, 2025

Lawyers for Chinese online platform Shein return to a Paris court on Friday for a hearing on the French government’s request to suspend the firm’s website for three months, after childlike sex dolls and banned weapons were discovered on its marketplace.

Customers queue to enter the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l’Hotel de Ville, in Paris, France, November 5, 2025 – REUTERS/Sarah Meyssonnier/File Photo

Shein disabled its marketplace- where third-party sellers list their products- in France on November 5, after authorities found ⁠the illegal items for sale, but its main site selling Shein-branded clothing remains accessible.
The French state wants the website suspended ⁠for a minimum of three months in the country, which it argues is needed for Shein to prove that its contents comply with the law. 

It has invoked Article 6.3 of France’s digital ‍economy law, ‌which gives a judge powers to prescribe measures with the aim of ⁠preventing or halting harm caused ‌by online content. France has also summoned major internet service providers Bouygues ‌Telecom, Free, Orange, and SFR to the hearing, requesting they block Shein’s website. The court will have to decide whether a suspension is warranted, and whether it is in line with European Union law. 

In a statement last week, ‍the Paris prosecutor’s office said a three-month suspension could be deemed “disproportionate” under the case law of the European Court of Human Rights if Shein could prove ‌it has stopped ⁠all ​sales of illegal goods. However, the prosecutor said it “fully backed” the ⁠government’s demand ​that Shein provide evidence of measures taken to end those sales.

France’s move comes amid broader scrutiny of Chinese giants such as Shein and Temu under ​the EU’s Digital Services Act, reflecting concerns about consumer safety, illegal product sales and unfair competition. Meanwhile in the US, Texas Attorney ⁠General Ken Paxton said on Monday ⁠he is investigating Shein to determine whether the fast fashion retailer violated state law related to unethical labour practices and the sale of unsafe consumer products.

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China’s HongShan eyes $2.9 billion Golden Goose deal by Christmas

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December 5, 2025

China’s HongShan Capital Group (HSG) has sent a 2.5 billion euro ($2.91 billion) offer to private equity Permira to buy Italian luxury sneaker maker Golden Goose, with the aim of signing the deal ⁠by Christmas, daily la Repubblica reported on Friday.

Golden Goose is known for its luxury sneakers – goldengoose.com

Details still need to be ⁠defined but the offer gives the luxury group an enterprise value of 10 times the core profit expected ‍by ‌the end of the year, debt included, ⁠the newspaper said. Golden Goose’s ‌revenues totalled 655 million euros in ‌2024, with an adjusted core profit of 227 million euros.

HSG has asked veteran fashion industry executive Marco Bizzarri to become Golden Goose’s ‍future chairman, la Repubblica said, adding that the Chinese private equity aims to expand Golden Goose’s ‌directly-managed ⁠stores, ​particularly in Asia, and plans to ⁠list ​the group in the medium-term.

Last year the Venice-based company, which sells sneakers for more ​than 500 euros a pair, shelved plans for an initial public offering ⁠on the Milan Bourse, ⁠citing market volatility caused by political uncertainty in Europe.
 

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