Home / Knowledge / News / Apparel/Garments / Asean Economic Community would benefit Thai apparel brands
Asean Economic Community would benefit Thai apparel brands
27
Oct '12
The Asean Economic Community (AEC), which would come into effect from 2015, would benefit the Thai apparel brands, rather than giving rise to stiff competition for them, according to Reno (Thailand) Co, manufacturer of fashion apparel brand AIIZ.
 
Under AEC, all member nations would earn a leverage to establish their production bases in any other member nations, hence there would be no issue of low labour cost, the Bangkok Post quoted Mr. Piya Thanakitamnuay, Chief Executive of Reno, as saying.
 
He said Thai fashion firms are quite good at brand-building and marketing, as compared to their Asean counterparts, hence they are not much bothered about survival of Thai brands in Asean markets or entry of Asean brands in domestic markets, and look upon it more as an expansion opportunity.
 
Further, he said, Thai fashion brands have already outlived long years of political instability and tough competition from international brands.
 
On the other hand, tough competition in Thai fashion industry, which has over 1,000 domestic and global fashion brands, would make entry of Asean brands in Thai markets difficult. Thus, fashion apparel is looked upon as the sector where Thai firms can benefit the most from AEC, he added.
 
Informing that Reno eyes around three to four billion baht in sales revenues from Asean markets during 2013-15, Mr. Piya said they are also in talks with several retailers in countries like Vietnam, Dubai and Indonesia for setting up AIIZ shops in those countries.
 
Eyeing a shift to big format outlets measuring around 1,000-2,000 sq m, almost 10 times bigger than its existing outlets, the company sees its sales turnover for current year touching four billion baht, 25 percent above its last year’s earnings.
 
Besides, it also plans to launch 40-50 big AIIZ outlets next year.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Lenzing

Textiles | On 25th Jun 2018

Lenzing launches Veocel nonwoven speciality brand

Leading fibre company, the Lenzing Group has unveiled Veocel, the new ...

Interviews View All

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search