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  • Indian Govt Lifts Import & Export Duty on Wet blue & Crust Leather | 38th India International Leather Fair Kicks off | Tandy Leather Factory Sells HQ for $26.5 Million

Indian Govt Lifts Import & Export Duty on Wet blue & Crust Leather | 38th India International Leather Fair Kicks off | Tandy Leather Factory Sells HQ for $26.5 Million

LVMH Reports €84.7 Billion in Revenue with €12.6 Billion Net Profit in 2024 | Global Leather Industry Experts Gather to Discuss Safety and Health in Tanneries | Tenerías Omega Faces Possible Revival After Bankruptcy Closure as Two Bids Emerge | Zegna to Open New Footwear and Leather Goods Factory & more

Good Morning & Welcome to our weekly newsletter! Here, we bring you the entire week's global news, insights, market research & analysis, expert insights and facts from the global "leather, footwear, and leather goods" industry.

In a simplified and easy-to-understand manner, saving you time while keeping you informed & updated under 5 minutes every Sunday at 11am.

In case you missed it, here’s a look at what happened in the Global Leather, Footwear & Leather Goods Industry last week.

LEATHER INDUSTRY NEWS

India’s leather & footwear industry gets a massive push. The govt has removed key import duty on wet blue import and export duty on crust leather & launched the Focus Product Scheme to drive innovation, boost exports & create 2.2 Million jobs.

📊 Projected revenue: ₹4L Cr ($46B)
📦 Exports: ₹1.11L Cr ($13B)

The Ac Tech Association of Leather & Footwear Alumni (ALFA) community is set for an exciting gathering at IILF Chennai today from 5:30 PM - 6:30 PM! Dr. K.J. Sreeram (Director, CSIR-CLRI) will deliver the Orator Award Lecture on "R&D Led Growth for Sustainable Development of the Leather Sector." Mr. M Abdul Wahab (CLE) will honor the event as Chief Guest. Don’t miss the networking & high-tea.

📅 Date: Today February 2nd, 2025
🕒 Time: 5:30 PM to 6:30 PM
📍 Venue: India International Leather Fair (IILF) 2025, Conference Hall 1, 1st Floor, New Convention Centre, Chennai Trade Center

Tandy Leather Factory has sold its HQ, flagship store, and distribution center for $26.5 Million but will stay until Sept 2025 under lease. A new 134,000 sq. ft. HQ is secured in Benbrook, TX, with a 10-year lease. Plus, a $1.50 per share dividend is declared!

A media conference on IILF 2025 was held in Chennai on January 31, 2025, with key industry leaders discussing India's leather and footwear sector growth. IILF 2025, from Feb 1-3, will host 400+ exhibitors, focusing on business growth, job opportunities, and advanced tech.

Four months after Tenerías Omega tannery shut down, two offers could revive it—potentially saving 40-44 jobs. Unions blame bad management, not low demand. Will the tannery get a second chance?.

Hundreds of workers at Savar Tannery Industrial Estate protested on January 28, 2025, demanding the implementation of the government-declared minimum wage. Despite the government’s decision to set a minimum wage of Tk18,000 ($150), tannery owners have delayed its enforcement, leaving workers in financial distress.

This week, major global associations, including IULTCS, ICHSLTA, and WHL, supported the Joint Statement on Durability in Apparel & Footwear PEFCR. The statement calls for fairer sustainability metrics for leather, highlighting its durability and role in a circular economy.

On Jan 27-28, 2025, experts from across the globe gathered at ITCILO, Italy, to discuss safety & health in tanning and leather industries. Key discussions focused on improving workplace safety, health standards, and social dialogue. COTANCE's new study shows the industry has made significant strides in safety, challenging misconceptions.

The 10th Mega Leather Show 2025 kicked off in Lahore on January 26th, showcasing Pakistan’s leather industry. With 250+ stalls, international companies from Germany, France, and more, the event emphasizes growth in exports, with leather product exports rising 7.96%. Read more on this exciting development.

LEATHER GOODS INDUSTRY NEWS

LVMH, the global luxury leader, reported €84.7B in revenue for 2024, reflecting a 1% organic growth. Despite challenges, profit from recurring operations reached €19.6B, while free cash flow surged 29%. The Fashion & Leather Goods segment earned €41B, with Louis Vuitton and Dior leading growth.

The 8th Leather Designers' Fair is happening from February 1-3, 2025, at the India International Leather Fair (IILF) in Chennai. Organized by the Council for Leather Exports (CLE), the event will feature 36 designers from 18 countries showcasing their creative leather collections.

Luxury fashion giant Ermenegildo Zegna is building a 12,500 sqm footwear and leather goods facility in Parma, Italy, by December 2026. With over 300 jobs expected, this move highlights their commitment to preserving Italian craftsmanship and creating future artisans.

Adidas Closes Q4 2024 with €5.9 Billion | Puma Reports €282 Million Profit | Brazil Sees 23% Decline in Vegetable Tanning Extracts Exports Dropping to $28 Million in 2024 and more in this week's global leather industry news and updates.

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Written & Published by Arshad | Leathernews.org

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