Business
Secondhand stores poised to benefit if US tariffs drive up new clothing costs
Bags of returned or overstocked clothing, shoes, boots, coats, packs and other items sit in a fulfillment warehouse after the goods were cleaned or repaired as they are marketed on resale platforms on April 17, in Englewood, Colo. (AP)
NEW YORK, April 21, (AP): Stores selling secondhand clothes, shoes and accessories are poised to benefit from President Donald Trump’s trade war even as businesses the world over race to avert potential damage, according to industry experts. American styles carry international influence, but nearly all of the clothing sold domestically is made elsewhere. The Yale University Budget Lab last week estimated short-term consumer price increases of 65% for clothes and 87% for leather goods, noting US tariffs “disproportionately affect” those goods.
Such price hikes may drive cost-conscious shoppers to online resale sites, consignment boutiques and thrift stores in search of bargains or a way to turn their wardrobes into cash. Used items cost less than their new equivalents and only would be subject to tariffs if they come from outside the country. “I think resale is going to grow in a market that is declining,” said Kristen Classi-Zummo, an apparel industry analyst at market research firm Circana.
“What I think is going to continue to win in this chaotic environment are channels that bring value.” The outlook for preowned fashion nevertheless comes with unknowns, including whether the president’s tariffs will stay long enough to pinch consumers and change their behavior. It’s also unclear whether secondhand purveyors will increase their own prices, either to mirror the overall market or in response to shopper demand.
Jan Genovese, a retired fashion executive, sells her unwanted designer clothes through customer-to-customer marketplaces like Mercari. If tariffs cause retail prices to rise, she would consider high-end secondhand sites. “Until I see it and really have that sticker shock, I can’t say exclusively that I’ll be pushed into another direction,” Genovese, 75, said. “I think that the tariff part of it is that you definitely rethink things.
And maybe I will start looking at alternative venues.” The secondhand clothing market already was flourishing before the specter of tariffs bedeviled the US fashion industry. Management consulting firm McKinsey and Co predicted after the COVID-19 pandemic that global revenue from preowned fashion would grow 11 times faster than retail apparel sales by this year as shoppers looked to save money or spend it in a more environmentally conscious way.
Kuwait enhances Stock Exchange access for emerging firms with amendments to listing rules.
KUWAIT CITY, July 1: Kuwait’s Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules.
In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection.
The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations.
The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait’s broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards.
The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks.
The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments.
Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes.
This latest move is seen as a significant step toward further modernizing Kuwait’s financial sector and creating a more inclusive and diversified capital market landscape.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
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