Ibex Investment Holdings Ltd., formerly known as Steinhoff International, raised 26.6 billion rand ($1.5 billion) by selling its stake in Africa’s largest clothing retailer, Pepkor Holdings Ltd.

The company sold 1.045 billion shares of Pepkor at a discount of about 6% to the last closing price, according to terms seen by Bloomberg. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Investec Plc managed the share sale.

Ibex has been restructuring since Steinhoff, the former owner of Conforama in France and Mattress Firm in the US, collapsed after auditors refused to sign off on its financial statements in late 2017. That led to police and regulatory investigations in both Europe and South Africa. A forensic probe by auditor PwC uncovered €6.5 billion ($7.6 billion) of irregular transactions with eight firms over eight years.

Steinhoff changed its name to Ibex in 2023. The business holds the Pepkor stake through its wholly-owned unit Ainsley.

News Credits- FASHION NETWORK

An e-commerce boom is set to become the primary driver of Indian air cargo growth with the contribution set to increase from the current $5 billion to $200 billion by 2030, according to experts.

With a 10 MTPA per annum cargo target by 2030, India is looking at tripling its current capacity in the next 6 years, with e-commerce, pharmaa and electronics set to be top contributors of air cargo growth, as per the estimates of Air Cargo Forum India (ACFI).

The rising demand for time-bound delivery is accelerating air freight use on domestic and international routes, and private operators like IndiGo CarGo and Blue Dart Aviation are expanding freighter fleets to meet growing E-commerce and Pharmaceutical demand. Private entities are adopting AI, IoT, robotics, and blockchain to optimise cargo handling, reduce errors, and enhance tracking, according to the knowledge paper released last week at the ACFI Annual Conclave 2025.

“India’s air cargo industry stands at a watershed moment. Fuelled by the explosive growth of e-commerce, increased global trade flows, and a maturing domestic supply chain ecosystem, air cargo is no longer a silent enabler; it has become a critical pillar of the national economy. With volumes scaling up steadily, the skies are emerging as corridors of speed and competitiveness,” said Sanjiv Edward President-ACFI CEO – Cargo and Logistics – GMR Group (DIAL).

The nation’s airports, from Delhi to Bengaluru, are evolving into critical nodes in the international supply chain, handling escalating export and import volumes with precision. This surge underscores the pressing need for strategic transhipment hubs and advanced transit facilities to ensure efficient connectivity.

However, challenges such as infrastructure limitations, regulatory bottlenecks, and inconsistent digital integration persist, hindering the sector’s full potential, said the players in the air cargo sector.

“By prioritising investments in modernised airport facilities, streamlined customs processes, and optimum digital platforms, India can address these constraints and elevate its air cargo capabilities. The establishment of dedicated cargo hubs, equipped with automated systems and enhanced intermodal connectivity, is essential to meet the demands of time-sensitive supply chains,” said Nivesh Chaudhary, Co-Founder and Managing Director Head, Strategic Advisory – Mobility and Supply Chain, ASCELA. ASCELA is a professional service company providing advisory services to organisations.

Author Credits- Richa Sharma
msn

HYDERABAD/BENGALURU – U.S. retailer Costco Wholesale Corp (COST.O) will open its first technology centre in India in Hyderabad, two people familiar with the plans told Reuters.

The Global Capability Centre, handling technology and research operations and working alongside global teams, will initially employ 1,000 people and scale up, sources said.

GCCs, which were once low-cost outsourcing hubs for global firms, have evolved over the last few years and are now used to support their parent organisations in multiple functions, including daily operations, finance, and research and development.

India is already home to some of the global marquee brands–having their GCC operations in India. This includes companies such as JPMorgan Chase (JPM.N) Walmart (WMT.N) and Target (TGT.N) in Bengaluru while Hyderabad also hosts companies such as McDonald’s (MCD.N) Heineken (HEIN.AS) and Vanguard Group.

The market size of India’s global capability centres (GCCs) is likely to grow to $99 billion-$105 billion by 2030 from $64.6 billion in fiscal 2024, according to a report by IT industry body Nasscom and consulting firm Zinnov released late last year.

Costco did not immediately respond to Reuters request for a comment.

Author Credits- Rishika Sadam and Sai Ishwarbharath B
Reuters

Zepto co-founder Aadit Palicha last week announced the 10-minute delivery for luxury cosmetic brands– Estée Lauder’s M.A.C., The Ordinary and Clinique–on the platform.

Talented LVMH alumna Katia de Lasteyrie has launched a highly innovative new jewelry marque SPKTRL and unveiled its very first quiet tech product.

Think of it as high jewelry’s smartwatch moment: a diamond jewelry ring that communicates key digital messages silently, without screens, noise, or disruption.

Pronounced “Spectral,” SPKTRL’s light ring uses color to communicate, allowing wearers to personalize the insights they receive through a minimalist app. Hence, the perfectly colorless diamond can light up soft blue to indicate a message from a loved one, while a vibrant magenta could indicate a critical work update. Quiet tech represents the use of non-intrusive technology that blends seamlessly into the background, a key element of the new brand.

Featuring a screenless design, messages are transmitted through a CVD lab-grown diamond, selected for both its beauty and its symbolism.

“It’s a material created with precision by human ingenuity, not chance,” explains Lasteyrie, the founder and CEO of SPKTRL.

Optically and structurally identical to mined diamonds, lab diamonds are increasingly used in deep-tech fields such as quantum computing, she notes.

Design-wise, the SPKTRL ring is essentially indistinguishable from a classic Place Vendôme jewelry piece—yet still manages to invisibly encapsulate hidden layers of technology. In a world of jewelry built on centuries of tradition, SPKTRL’s vivid, color-changing diamond ring signals a tech-driven transformation akin to the one that revolutionized watchmaking.

While most wearables like the Apple Watch are function-first devices, SPKTRL offers something different: a design-led, jewelry-first approach.

“It redefines technology-augmented jewelry—much like smartwatches did for traditional watches—and opens the door to a whole new category,” insists de Lasteyrie, an elegant mum of two who lives a golf chip away from Place Vendôme.

Katia de Lasteyrie is a former innovation lead for LVMH’s Watches & Jewelry division. With almost 20 years of experience in high and fine jewelry, and stints with Christie’s and Chanel, Lasteyrie is as fluent in craftsmanship as she is in innovation.

Her work at LVMH included the development of interactive luxury objects for Louis Vuitton, as well as years of research into the intersection of material culture and emotional design. SPKTRL is the result of that trajectory: a convergence of aesthetic discipline and embedded function. The brand was developed around a single belief: time is the ultimate luxury, which is why SPKTRL offers owners the chance to edit away non-essential communications in an elegant manner.

“SPKTRL appeals to a new art de vivre: one where attention is curated, not consumed. Our technology isn’t designed to replace phones or make you faster but to give you back control. The stone is the interface, and the color is the language. Personalized to each user, our ring communicates important messages in a novel way that is truly mindful of their time and attention,” underlines Katia de Lasteyrie.

Manufactured in France, this talismanic signet ring is designed to represent power and wisdom, crafted from a blend of titanium and high-precision metals.

SPKTRL’s limited-edition debut piece will be available for exclusive order this fall, at a four-figure euro price tag, by visiting: https://spktrl-paris.com.

Author Credits- Godfrey Deeny
FASHION NETWORK

Rosp Corunna, the family office of Inditex SA heiress Sandra Ortega, posted a 71% profit surge in 2024, reflecting strong returns tied to Ortega’s share in the world’s largest listed fashion retailer and strategic expansion into European real estate.

Ortega, Spain’s wealthiest woman and the daughter of Inditex co-founder Rosalia Mera, oversees a 5% stake in the company best known for global fast-fashion brand Zara. The stake, managed through Rosp Corunna, remains the core of her investment portfolio.

The firm reported €300 million ($348 million) in profit last year, according to its annual earnings filings. All profits are scheduled to be reinvested in 2025. Rosp’s total assets rose by 24.5% to reach €10.1 billion, underlining Ortega’s growing financial influence within the global fashion economy.

In addition to her stake in Inditex, Rosp Corunna holds a 5% stake in Spanish pharmaceutical firm PharmaMar SA and maintains a growing presence in high-value real estate. The portfolio’s diversification complements its foundation in fashion-linked capital.

Ortega and her brother inherited their Inditex shares following the death of their mother, Rosalia Mera, more than a decade ago. Mera co-founded Inditex with Amancio Ortega, the family patriarch. Sandra Ortega does not hold any operational role at the company.

In early 2024, Rosp acquired two buildings in Germany for €150 million, including the local headquarters of telecom operator Telefonica SA. These acquisitions follow previous real estate purchases in Frankfurt and Vienna, as well as land in Troia, Portugal, designated for a luxury resort project. Although not directly tied to Inditex’s operations, Ortega’s growing real estate footprint echoes fashion’s increasing convergence with lifestyle and hospitality investments.

Meanwhile, Marta Ortega — daughter of Amancio Ortega from a second marriage — has served as chair of Inditex since 2022, a role that further cements the family’s legacy globally. Shares of Inditex rose 26% in 2024, reflecting continued investor confidence in the company’s performance and agile supply chain model.

News Credits- FASHION NETWORK