The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Dubai-based direct-to-consumer label’s Series A funding round was led by Knuru Capital and will help finance both category and geographic expansion.
The Giving Movement, which was founded in 2020 by Dominic Nowell-Barnes, donates $4 to charity with each item sold (enough, it says, to ensure the basic needs of a child in need for one week). It also uses locally-sourced sustainable fabrics, such as recycled nylon and polyester, and produces its products in the United Arab Emirates.
Over the past two years, the brand has ridden a growth wave, boosted by broader trends for athleisure and loungewear, as well as the “lifestyle values” of Gen-Z.
“As we expand into new categories and into new markets, quality capital will allow us to remain true to our purpose and to take our ethos global, while continuing to serve our loyalists and community stakeholders,” Nowell-Barnes said.
Next on the agenda for The Giving Movement with this fresh capital injection is the expansion of its kidswear and babywear lines. Expansion to the US market is also a priority.
Learn more:
Chanel, Dior Entice Gulf Clients to Shop Locally
Major luxury brands are making a splash this week in Dubai and Doha in a bid to excite locals who were restrained from shopping abroad during the pandemic.
According to The State of Fashion 2024, a potentially volatile global economy and geopolitical tensions in the coming months could further dent consumer confidence in key markets, requiring fashion brands, retailers and suppliers to bolster contingency planning and double down on operating efficiencies, among other measures.
Despite decades of volatility in Latin America’s third-largest economy, some local fashion entrepreneurs have found success thanks to a combination of grit, determination and hyper-adaptability.
This week’s round-up of global markets fashion business news also features Hong Kong jewellery giant Chow Tai Fook, Ghana’s travel retail move and Brazilian apparel retailer Lojas Renner.
This week’s round-up of global markets fashion business news also features Japanese cosmetics group Kosé, Pakistan’s e-commerce market and JD.com’s management shakeup in China.