Editor’s Note
LVMH’s intensified push into South Korea highlights the country’s rising prominence as a luxury powerhouse. This strategic expansion reflects broader industry trends and shifting consumer dynamics in the Asian market.
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury goods group, is accelerating its expansion efforts in the South Korean market. This strategic move underscores the growing importance of South Korea as a key luxury consumption hub in Asia.
The Lenzing Group has secured a majority stake in the Swedish innovation company TreeToTextile AB through a new share issue. TreeToTextile’s technology is considered a breakthrough comparable to the development of viscose a century ago and TENCEL™ in the 1990s.
Japanese material specialist Bioworks, with support from the Tokyo Metropolitan Government, has conducted a pilot recycling experiment. The company collected used socks made from its next-generation synthetic fiber ‘PlaX’ to establish chemical recycling technology for the material.
A filter (separation membrane) capable of removing up to 99.8% of dyes from textile dyeing wastewater has been developed and is preparing for technology transfer. The technology was developed by senior researcher Lee Hong-ju and principal researcher Song In-hyuk from the Nano Materials Research Division of the Korea Institute of Materials Science (KIMS).
The non-profit Transformers Foundation released a report titled ‘Unlocking Equity in Innovation: Balancing the Scales in Supply Chain Partnerships’. The report argues that power imbalances within supply chains hinder innovation.
Turkey’s core textile and apparel industry is facing a crisis. Over the past three years, 380,000 jobs have been lost, and last year alone, 4,500 companies shut down. Companies cite rising raw material prices and increased production costs.
Tensions between the US and Europe over Greenland are escalating into a tariff confrontation. European fashion brands, particularly in the luxury sector, are growing anxious over former President Trump’s tariff threats, which could significantly impact transatlantic trade.