Business News Fashion Lifestyle

Eli Bitton, an Israeli luxury brand, will establish relationships in India.

  • 20/04/2023
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srael-based luxury fashion house Eli Bitton officially entered the Indian market by opening its first store at West Delhi in March 2023. Following the grand opening of the brandā€™s first flagship store at West Patel Nagar, the brand plans to take the partnership/collaborations route to expansion in the country instead of opening company-owned exclusive stores, Yehuda Bitton, chief operating officer & Fashion Designer at Eli Bitton told ReTale. India entry India is a familiar market for Eli Bitton, which used to collaborate with a few fashion houses in India for fabrics, before the pandemic. It is the pandemic that led to the brand deciding to enter the India market directly. The fashion house that the brand worked with couldnā€™t recover after the second wave. ā€œAfter this, we had many employees who were looking for jobs. This is when we thought of launching our own fashion house in Delhi instead of collaborating with others,ā€ Bitton explained. The brand needed enough space to showcase its premium collection properly. It, therefore, chose Patel Nagar over other localities in Delhi famous for designer stores because the locality offered the kind of space the brand needed and also had latent potential. Matching expectations First, the brand provided online services in India to gauge the response. Satisfied by the response, the brand decided to set up shop in New Delhi. ā€œWhen we came to India, we saw that it is different from our expectations and people want luxury fashion,ā€ he added. The newly-opened store thus features a large selection of ready-to-wear embroidered luxury evening gowns, mini gowns, lehengas and more available in all sizes ready-to-try. ā€œIn the short time, we had around 5-6 clients who flew down from other states just to get their hands on our exquisite collection,ā€ said Bitton who was happy with the response the brand was receiving in the country. ā€œThe majority of our clients are repeat customers who purchased online or those who follow us on social media and have been anticipating the storeā€™s launch. The most satisfying aspect is that 90% of the women who tried our designs purchased them,ā€ he added. ā€œSeveral Indian celebrities have also worn our designs including Sunny Leone, Shweta Tiwari, Nimrit Kaur Ahluwalia and more,ā€ he added. In addition to India, Eli Bitton has fashion houses in Haifa, Israel, where it is present for the last three decades.

Business News Fashion Marketing

Bollywood actress Alia Bhatt joins Malabar Gold and Diamonds as a brand ambassador.

  • 20/04/2023
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Ā Malabar Gold and Diamonds, the leading jewellery retailer with 312 showrooms across 10 countries, has signed Indian actress Alia Bhatt as its new brand ambassador, the brand announced in a release on Wednesday. The announcements come in the wake of the 30th anniversary of Malabar group, which began its operations in 1993. With an extensive retail network in India, UAE, KSA, Qatar, Bahrain, Oman, Kuwait, Malaysia, Singapore and the USA, the signing of Alia Bhatt as the brand ambassador will bring a new global outlook to the brand as it set its eyes on new markets such as the UK, Australia, Canada, South Africa, Egypt, Bangladesh, Turkey and New Zealand as well as major cities in all states of India strengthen its presence in existing markets, the release added. ā€œWe are excited to welcome Alia Bhatt into the Malabar Family. Over the years, our brand ambassadors have played an instrumental role in elevating our brandā€™s status in the eyes of our customers and we are looking forward to taking Malabar Gold and Diamonds to new heights with Alia Bhatt as the face of the brand. As Malabar Gold and Diamonds celebrates its 30th anniversary, we are reaffirming our commitment to providing our loyal customers with the best jewellery shopping experience,ā€ commented Malabar Group Chairman, M.P. Ahammed. ā€œAs Malabar Gold and Diamonds gears up to execute their ambitious expansion plan, I earnestly look forward to working closely with them to further their reach amongst jewellery lovers world-over,ā€ commented Alia Bhatt. Malabar Gold and Diamonds was established in 1993 and is the flagship company of Malabar Group, a diversified Indian business conglomerate. It has a strong retail network of 312 outlets spread across 10 countries in addition to multiple offices, design centres, wholesale units and factories spread across India, Middle East, Far East and USA. The group, owned by more than 4,000 shareholders, has more than 17,500 professionals from over 26 countries working towards its continued success.

Business News Fashion

“India’s fashion market is valued at $50 billion.”

  • 05/04/2023
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With India remaining the fastest-growing major economy and consumer sentiment at a high, weddings are driving the fashion and luxury goods business. According to the founder and chief executive of global fashion media firm, The Business of Fashionā€™s, Imran Amed, said in an interview that India has emerged as one of the worldā€™s strongest fashion markets, and globally, the fashion industry is pegged at about $2.5 trillion. Edited excerpts: How has the fashion industry changed post-covid19, and where is it heading? Globally, fashion is a $2.5 trillion industry, segmented in a variety of different elements, with luxury fashion at the very top, and witnessing extraordinary acceleration over the last couple of years. This is a reflection of the wealthier segments of our society, who were stuck at home during the lockdown, not spending money on travelling and other discretionary items , ending up saving a lot of money. They started spending money online, often engaging with luxury goods companies, and the growth in the last couple of years as a result of it, has been exceptional. Clearly, the economy has entered a different phase. Are there other luxury segments that are doing well globally? Yes, the bottom of the pyramid luxury is doing very well. One of the reasons thatā€™s happening is because people are being a lot more conscious of how they spend, and where they spend. If theyā€™re buying it, it is in the discount segment. The middle part of the industry is struggling the most. Did the current economic conditions have any impact on luxury consumption? Now, there is a lot more uncertainty about where the world economy is headed, and we are talking about a potential recession in Europe and US. However, though the recession has not materialized thus far, I think consumers are being a bit more cautious. No, India is the fastest-growing major economy and thereā€™s quite a level of buoyancy here. The Indian customer remains confident. If we define luxury and fashion in India including everything related to the wedding market, then weā€™re talking about greater than $50 billion market per annum. However, if weā€™re talking about the presence of international luxury brands in this market, itā€™s less than $5 billion. That said, the market is growing and a lot of commentators and observers internationally are looking at this market with interest. Is it because of the slowdown in luxury consumption in China? China had cooled somewhat, and companies are looking to India and the Middle East for growth opportunity. The Chinese market has also recently witnessed a confidence boost because of the changing rules around covid restrictions. So executives are hopeful that the industry will pick up because in the last year, or so, China has been very challenging. Companies often compare India to China, but are they similar markets for consumption. What are your views? The dynamics of the two markets are very different. India has retained a sense of tradition and its own form of luxury is much more pronounced than what youā€™d find in China or anywhere. In China, if one walks the streets of Shanghai or Beijing, people are basically wearing Western clothes. Traditional Chinese clothes are very rarely worn. While here in India, it is more of a ā€˜fusionā€™ way of living. The way Indian customers engage with international luxury brands is very different. What kinds of luxury brands are doing well in India? The successful brands are the ones that are trying to understand moments and occasions they can fit into in the Indian customerā€™s life. There are still a lot of development opportunities that have not yet materialized and thatā€™s why the next 10 years are going to be interesting for the Indian market. As the fastest-growing major economy, with buoyancy and dynamism in the market, even in the face of economic headwinds, it will be very interesting to see how it develops from hereon. But it is a fact that the share opportunity in China is far larger as Western clothes are pretty much the de-facto way of dressing there. Though the scale of the markets is similar, the way the customers live is very, very different. What is the largest trend that youā€™re seeing globally in fashion right now? And is India emulating any of those trends? The one thing that weā€™ve been seeing a lot of and talking a lot about at The Business of Fashion, is ā€˜quiet luxuryā€™. And I donā€™t even call that a trend. Itā€™s more like a movement where the most wealthy, the most sophisticated and the most discerning customers are preferring to wear brands or clothes from brands that donā€™t scream luxury. Itā€™s not about shouting that it is a Gucci product or a Dior product. The brands that are at the forefront of this movement are brands like Italian company Loro Piana, Brunello Cucinelli and Hermes. These are some of the most famous ones where the brands themselves arenā€™t front and centre and the way they design their clothes and accessories is more about the quality and the craftsmanship that goes into them. Sustainability in fashion is the new buzzword, but are they just saying it or are they actually walking the talk too? To be honest, we do an analysis every year called The BoF Sustainability Index and last year we rated 30 publicly traded companies and luxury sportswear and fast fashion. And our assessment would say that there are a lot of companies talking about sustainability, but by no means are they taking enough action to make the changes necessary, whether it is water and chemicals or, commissions or workersā€˜ rights to truly call themselves sustainable. And the truth is, every single product we create has some kind of impact. So thereā€™s nothing like a sustainable and impact-free product. Everything we create has an impact. So now the focus for the industry is on how to create fewer, better, longer-lasting products that have a lesser impact. The big luxury companies are now focusing on

Business News

Raymond Q2 net benefit gets around two-overlay to Rs 162 cr

  • 03/11/2022
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New Delhi: Diversified group Ltd on Thursday reported over a two-fold jump in its consolidated net profit to Rs 161.95 crore for the second quarter ended September 30 on improved growth across its business segments. The company had posted a net profit of Rs 56.15 crore during the July-September quarter of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 39.76 per cent to Rs 2,168.24 crore from Rs 1,551.32 crore in the corresponding quarter previous fiscal. “Raymond continues to deliver high operating performance along with profitable growth for the 4th consecutive quarter, leveraging optimism in the market and improved consumer demand. “Focused approach has driven growth over pre-Covid levels and cost consciousness has led to deliver yet another record profitable quarter,” said an earning statement by the company. Raymond’s total expenses surged 31.27 per cent to Rs 1,954.18 crore in the second quarter of FY23 against Rs 1,488.64 crore a year back. The company operates in the textile and apparel sector and other segments like consumer care, realty and engineering. Its B2C businesses continue to grow during the July-September quarter, while the garment export business showed resilience and the order book remained healthy from the US and Europe markets. “The real estate sector witnessed the sustained demand from home buyers that contributed to growth in our realty business with varied product offerings,” the company said. Raymond’s net debt reduced to Rs 1,286 crore as of September 30, 2022, helped by free-cash-flow generation, it added. “However, there was an increase in working capital deployment primarily in production and sales to meet strong festive and winter wedding demand in H2,” Raymond said. Raymond Chairman and Managing Director Gautam Hari Singhania said the group’s businesses are delivering consistent growth in both revenues and profitability on a quarter-on-quarter basis. “All four quarters are respectively record quarters in the last 12 months. Our quality products and services are tailored to meet the ever-changing demand from consumers be it fashion or real estate and this approach has helped us to achieve profitable growth,” he said. In the September quarter, Raymond’s revenue from textiles was Rs 911.80 crore and Rs 210.52 crore from the ‘shirting’ segment.

Business News E-commerce Fashion Lifestyle

Interest for clothing, FMCG, devices starts up merry deals

  • 03/11/2022
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Consumer goods companies clocked robust festive season sales as they shrugged off subdued demand in the weeks leading up to Diwali. Retailers of home appliances, fast-moving consumer goods (FMCG) and apparel said customers flocked to the showrooms ahead of Diwali. Electronics retail chain Vijay Sales reported growth in volumes as well as value in this festive season, compared to last year, with consumers buying larger television sets, microwaves, mobile phones and laptops. Sales grew for both entry level and premium electronics and home appliances, said a top executive. ā€œOverall, this festive season has been extremely good. We have seen growth of nearly 15% in sales. After a long time, weā€™ve seen growth in volumes as well at 10-11%. Only two categories, air conditioners and refrigerators, were flat primarily because of the weather. Barring these, all other categories have grown and have done very well,” said Nilesh Gupta, director, Vijay Sales. Most buyers used the option of easy monthly instalments even as companies doled out promotions such as cashbacks and freebies, Gupta added. Packaged foods company Parle Products reported 6-7% rise in sales volume this festive season, primarily due to people making renewed purchases after two years of covid-induced lockdowns and subdued festivities, said Mayank Shah, senior category head, Parle. ā€œConsumers were in the mood to rejoice and we saw strong demand in numerous food categories that increased by 10-12% (value growth) in September-October, compared to the previous year October-November (the Diwali period). Volume growth was 6-7%,” he added. To be sure, demand for consumer goods was muted as inflation impacted household budgets. Companies are also reeling under high raw material cost, which is hurting margins. Last week, packaged consumer goods company Dabur India said it had ample stocks of gift items such as Real juices, honey and Chyawanprash leading up to the festivities. ā€œInventory levels in the trade have gone up and trade has been receptive to that inventory,” said Mohit Malhotra, chief executive, Dabur India. Retail technology company Bizom, which tracks sales of packaged goods within stores, reported an uptick in consumption of sweets and savouries, along with special festival foods, leading to a surge in commodity sales during Diwali. However, personal care and beverages witnessed a sequential decline in sales. ā€œFestive food consumption and gifting has helped shore up sales for FMCG products in the festival season. Weā€™ve seen consumers exhibit revenge festivities which has helped drive FMCG sales up despite headwinds of inflation keeping their non-food discretionary spending relatively under control. Weā€™ve seen stronger growth among urban consumers who definitely had a stronger urge to go out and celebrate compared to rural folks,” Bizom said in a note on festive season demand. But following the festive season, consumers will return to controlled spending till inflation softens, said Akshay Dā€™Souza, chief of growth and insights at Bizom. Early data from Retailersā€™ Association of India indicated an uptick in demand for apparel, electronics and footwear. ā€œIn the 10-15 days before Diwali, retailers reported 20-25% growth over 2019 levels. Garments have done well, jewellery has done okay. Sale of electronic items also picked up just before the festival. Some home items did not do as well,” said Kumar Rajagopalan, CEO, Retailersā€™ Association of India. He, however, added that concerns around high inflation still persist. Indiaā€™s retail inflation touched a five month high of 7.30% in September.

Fashion

How fast fashion can cut its staggering environmental impact

  • 17/09/2022
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Clothes were once used until they fell apart ā€” repaired and patched to be re-used, ending their lives as dishcloths and oil rags. Not today. In high-income countries in particular, clothing, footwear and upholstered furniture are increasingly frequently bought, discarded and replaced with new fashions, which are themselves soon discarded and replaced. The proof is there in the data. In 1995, the textiles industry produced 7.6 kilograms of fibre per person on the planet. By 2018, this had nearly doubled to 13.8 kilograms per person ā€” during which time the worldā€™s population also increased, from 5.7 billion to 7.6 billion people. More than 60 million tonnes of clothing is now bought every year, a figure that is expected to rise still further, to around 100 million tonnes, by 2030. ā€˜Fast fashionā€™ is so called partly because the fashion industry now releases new lines every week, when historically this happened four times a year. Today, fashion brands produce almost twice the amount of clothing that they did in 2000, most of it made in China and other middle-income countries such as Turkey, Vietnam and Bangladesh. Worldwide, 300 million people are employed by the industry. But incredibly, more than 50 billion garments are discarded within a year of being made, according to a report from an expert workshop convened by the US National Institute of Standards and Technology (NIST), published in May. Landmark treaty on plastic pollution must put scientific evidence front and centre Textiles fit into two broad categories: natural and synthetic. The production of those such as cotton and wool, which are made from plant and animal sources, is largely stable, albeit slowly increasing. By contrast, the production of polymer-based fibres, particularly polyester, raced ahead from about 25 million tonnes a year in 2000 to some 65 million tonnes in 2018, according to the NIST workshop report. Taken together, these trends are having a staggering environmental impact. Take water. The fashion industry, one of the worldā€™s largest users of water, consumes anywhere from 20 trillion to 200 trillion litres every year. Then there are microplastics. Plastic fibres are released when we wash polyester and other polymer-based textiles, and make up between 20% and 35% of the microplastics choking the oceans. Added to this are specific chemicals, such as those used to make fabrics stain resistant and the pesticides required to protect crops such as cotton. Change is sorely needed, but will require the fashion industry to work harder to embrace more of what is known as the circular economy. That will involve at least two things: refocusing on making things that last, and so encouraging reuse; and more rapidly expanding the technologies for sustainable manufacturing processes, especially recycling. Thereā€™s a big role for research ā€” both academic and industrial ā€” in achieving these and other ambitions. Researchers could begin by helping to provide more accurate estimates of water use. It must surely be possible to narrow the range between 20 trillion and 200 trillion litres of water. There is also work to be done on improving and expanding textiles recycling. Overwhelmingly, used textiles go to landfill (in the United States, the proportion is around 85%), in part because there are relatively few systems (at scale) that collect, recycle and reuse materials. Such recycling requires the manual separation of fibres, as well as buttons and zips. Different fibres are not easy to identify by eye, and overall such manual processes are time-consuming. Machinery is being developed that can help. Technologies also exist to recycle used fibres chemically and to create high-quality fibres that can be reused in clothing. But these are nowhere near the scale needed. Another challenge for researchers is to work out how to get consumers and manufacturers to change their behaviour. This is already an active area of study in the social and behavioural sciences. For example, Verena Tiefenbeck at Bonn University in Germany and her colleagues found that when hotel guests were shown real-time feedback on the energy used in taking a shower, it cut down energy consumption from showering by 11.4%1. Other research questions include finding ways to encourage people to purchase durable goods; exploring how to satisfy cravings for something new while reducing environmental impact; and understanding why certain interventions can be successfully scaled up whereas others fail. There are also schemes in other fields that could be a source of ideas. The World Health Organization has considerable experience where accessibility is concerned, for example, in its Access to COVID-19 Tools Accelerator. Through this, companies and governments agree the principles of sharing key technologies in diagnostics and drug development. And in the early 2000s, the Rockefeller Foundation, under its then-president Gordon Conway, an ecologist now at Imperial College London, made a big push to encourage companies to share technologies in agricultural biotechnology, by establishing the African Agricultural Technology Foundation. These schemes are not perfect and are continually evolving, but offer ideas and lessons that should be studied and considered.

Fashion

Landmark treaty on plastic pollution must put scientific evidence front and center

  • 17/09/2022
  • 0 Comments

Textiles fit into two broad categories: natural and synthetic. The production of those such as cotton and wool, which are made from plant and animal sources, is largely stable, albeit slowly increasing. By contrast, the production of polymer-based fibres, particularly polyester, raced ahead from about 25 million tonnes a year in 2000 to some 65 million tonnes in 2018, according to the NIST workshop report. Taken together, these trends are having a staggering environmental impact. Take water. The fashion industry, one of the worldā€™s largest users of water, consumes anywhere from 20 trillion to 200 trillion litres every year. Then there are microplastics. Plastic fibres are released when we wash polyester and other polymer-based textiles, and make up between 20% and 35% of the microplastics choking the oceans. Added to this are specific chemicals, such as those used to make fabrics stain resistant and the pesticides required to protect crops such as cotton. Change is sorely needed, but will require the fashion industry to work harder to embrace more of what is known as the circular economy. That will involve at least two things: refocusing on making things that last, and so encouraging reuse; and more rapidly expanding the technologies for sustainable manufacturing processes, especially recycling. Thereā€™s a big role for research ā€” both academic and industrial ā€” in achieving these and other ambitions. Researchers could begin by helping to provide more accurate estimates of water use. It must surely be possible to narrow the range between 20 trillion and 200 trillion litres of water. There is also work to be done on improving and expanding textiles recycling. Overwhelmingly, used textiles go to landfill (in the United States, the proportion is around 85%), in part because there are relatively few systems (at scale) that collect, recycle and reuse materials. Such recycling requires the manual separation of fibres, as well as buttons and zips. Different fibres are not easy to identify by eye, and overall such manual processes are time-consuming. Machinery is being developed that can help. Technologies also exist to recycle used fibres chemically and to create high-quality fibres that can be reused in clothing. But these are nowhere near the scale needed. Another challenge for researchers is to work out how to get consumers and manufacturers to change their behaviour. This is already an active area of study in the social and behavioural sciences. For example, Verena Tiefenbeck at Bonn University in Germany and her colleagues found that when hotel guests were shown real-time feedback on the energy used in taking a shower, it cut down energy consumption from showering by 11.4%1. Other research questions include finding ways to encourage people to purchase durable goods; exploring how to satisfy cravings for something new while reducing environmental impact; and understanding why certain interventions can be successfully scaled up whereas others fail. There are also schemes in other fields that could be a source of ideas. The World Health Organization has considerable experience where accessibility is concerned, for example, in its Access to COVID-19 Tools Accelerator. Through this, companies and governments agree the principles of sharing key technologies in diagnostics and drug development. And in the early 2000s, the Rockefeller Foundation, under its then-president Gordon Conway, an ecologist now at Imperial College London, made a big push to encourage companies to share technologies in agricultural biotechnology, by establishing the African Agricultural Technology Foundation. These schemes are not perfect and are continually evolving, but offer ideas and lessons that should be studied and considered.

Fashion

How fast fashion can cut its staggering environmental impact

  • 17/09/2022
  • 0 Comments

How fast fashion can cut its staggering environmental impact Clothes were once used until they fell apart ā€” repaired and patched to be re-used, ending their lives as dishcloths and oil rags. Not today. In high-income countries in particular, clothing, footwear and upholstered furniture are increasingly frequently bought, discarded and replaced with new fashions, which are themselves soon discarded and replaced. The proof is there in the data. In 1995, the textiles industry produced 7.6 kilograms of fibre per person on the planet. By 2018, this had nearly doubled to 13.8 kilograms per person ā€” during which time the worldā€™s population also increased, from 5.7 billion to 7.6 billion people. More than 60 million tonnes of clothing is now bought every year, a figure that is expected to rise still further, to around 100 million tonnes, by 2030. ā€˜Fast fashionā€™ is so called partly because the fashion industry now releases new lines every week, when historically this happened four times a year. Today, fashion brands produce almost twice the amount of clothing that they did in 2000, most of it made in China and other middle-income countries such as Turkey, Vietnam and Bangladesh. Worldwide, 300 million people are employed by the industry. But incredibly, more than 50 billion garments are discarded within a year of being made, according to a report from an expert workshop convened by the US National Institute of Standards and Technology (NIST), published in May. Landmark treaty on plastic pollution must put scientific evidence front and centre Textiles fit into two broad categories: natural and synthetic. The production of those such as cotton and wool, which are made from plant and animal sources, is largely stable, albeit slowly increasing. By contrast, the production of polymer-based fibres, particularly polyester, raced ahead from about 25 million tonnes a year in 2000 to some 65 million tonnes in 2018, according to the NIST workshop report. Taken together, these trends are having a staggering environmental impact. Take water. The fashion industry, one of the worldā€™s largest users of water, consumes anywhere from 20 trillion to 200 trillion litres every year. Then there are microplastics. Plastic fibres are released when we wash polyester and other polymer-based textiles, and make up between 20% and 35% of the microplastics choking the oceans. Added to this are specific chemicals, such as those used to make fabrics stain resistant and the pesticides required to protect crops such as cotton. Change is sorely needed, but will require the fashion industry to work harder to embrace more of what is known as the circular economy. That will involve at least two things: refocusing on making things that last, and so encouraging reuse; and more rapidly expanding the technologies for sustainable manufacturing processes, especially recycling. Thereā€™s a big role for research ā€” both academic and industrial ā€” in achieving these and other ambitions. Researchers could begin by helping to provide more accurate estimates of water use. It must surely be possible to narrow the range between 20 trillion and 200 trillion litres of water. There is also work to be done on improving and expanding textiles recycling. Overwhelmingly, used textiles go to landfill (in the United States, the proportion is around 85%), in part because there are relatively few systems (at scale) that collect, recycle and reuse materials. Such recycling requires the manual separation of fibres, as well as buttons and zips. Different fibres are not easy to identify by eye, and overall such manual processes are time-consuming. Machinery is being developed that can help. Technologies also exist to recycle used fibres chemically and to create high-quality fibres that can be reused in clothing. But these are nowhere near the scale needed. Another challenge for researchers is to work out how to get consumers and manufacturers to change their behaviour. This is already an active area of study in the social and behavioural sciences. For example, Verena Tiefenbeck at Bonn University in Germany and her colleagues found that when hotel guests were shown real-time feedback on the energy used in taking a shower, it cut down energy consumption from showering by 11.4%1. Other research questions include finding ways to encourage people to purchase durable goods; exploring how to satisfy cravings for something new while reducing environmental impact; and understanding why certain interventions can be successfully scaled up whereas others fail. There are also schemes in other fields that could be a source of ideas. The World Health Organization has considerable experience where accessibility is concerned, for example, in its Access to COVID-19 Tools Accelerator. Through this, companies and governments agree the principles of sharing key technologies in diagnostics and drug development. And in the early 2000s, the Rockefeller Foundation, under its then-president Gordon Conway, an ecologist now at Imperial College London, made a big push to encourage companies to share technologies in agricultural biotechnology, by establishing the African Agricultural Technology Foundation. These schemes are not perfect and are continually evolving, but offer ideas and lessons that should be studied and considered.

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