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Several Chinese apparel firms may close over next 3 years
27
Aug '13
Several Chinese clothing enterprises are likely to shutdown over the next three years due to various factors, according to industry analysts.
 
According to them, the business model transformation of Chinese garment enterprises is too slow and it is not been able to keep pace with market changes. Successful business model transformation requires timely re-market positioning and integration of the supply chain, and simply downsizing is not enough.
 
Secondly, the management capabilities and standards of clothing enterprises are not able to meet the quickly changing characteristics of those business enterprises, which are transforming through new adjustments, new market positioning, and new supply chain integration.
 
Next, Chinese apparel firms currently have long supply chain production system, which decreases their profitability and affects their normal business development.
 
For small-scale, low-end market garment enterprises, the competition is high and the risk ability of these firms is low, which puts these companies at risk in future.
 
Lastly, as the consumer awareness about high-end brands increase, China’s high-end brand garment companies will face huge market pressures due to income effects of the high-end consumer groups.
 

Fibre2fashion News Desk - India

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