Turkey exported apparel worth US$ 17 billion during 2013, and the country is expected to export garments worth US$ 18.4 billion during 2014, said Turkey Clothing Manufacturers Association (TGSD) president Cem Negrin, at the recent panel discussion held at TGSD in Istanbul.
According to a statement issued by TGSD, Mr. Negrin said in 2012 the country exported apparel products worth US$ 16.1 billion, which increased by nearly 8 percent to US$ 17.3 billion in 2013.
Spending on apparel in the domestic market also surged by 6 percent to 50 billion Turkish lira (approx. US$ 22 billion), whereas the organized retail market recorded a jump of 10 percent and touched 31.5 billion Turkish lira (approx. US$ 14 billion) in 2013, he said while speaking at the TGSD panel.
The TGSD official said that in 2014 the economic recovery in the European Union (EU) would have an extremely positive impact on the Turkish clothing industry, which will raise the apparel exports by nearly US$ 1 billion to US$ 18.4 billion next year.
The TGSD panel held under the theme ‘Future Purchasing Strategies and Prospects’ saw participation from representatives and senior executive of various apparel and retail firms such as Marks & Spencer, Li & Fung, LC Waikiki, Cherryfield, Perseus, Apparel Lab, Spring Near East Manufacturing and Koton.
At the panel, Li & Fung executive vice president Fatya Mamcu said Li & Fung has plans for expansion in Turkey as it is a growing market, by opening 312 separate manufacturing plants in 22 different cities of the country. The investment in Turkey would continue, Mamcu added.
Koton supply manager Akim Simsek said in 2013, the firm saw a growth of 42 percent and in 2014 the target is set at 43 percent, especially with increasing the number of stores by 20-30 percent. Koton is aiming to reach the turnover of US$ 2.7 billion in 2014, he added.
Several senior executives and representatives from various firms attended the TGSD panel organized by TGSD with support from Kimtex textile firm. The panel was held with the objective of discussing various strategies for the apparel and retail sectors during 2014 and about future prospects of the sectors.