The export and tourism promotion board of Peru (PROMPERU) would be launching a franchise of 20 Peruvian apparel firms, with the aim of expanding these companies’ business and attract investments, said coordinator of PROMPERU for the clothing industry Igor Rojas, at the recently concluded Peru Moda 2014 fair in the Peruvian capital city of Lima.
Mr. Rojas explained that some of the firms from the 20 selected apparel enterprises exhibited their products during the Peru Moda fair with the aim of showcasing their goods to international buyers, in order to generate business opportunities, reports Peruvian news agency andina.
The franchise is a pilot program undertaken by PROMPERU so that the companies work as a joint venture and get an opportunity to identify investors and create business contacts with international buyers, he added.
The pilot franchise includes Peruvian apparel firms such as shirt manufacturers Koketa, childrenswear maker Ant, swimwear brand Applauzi and casual men’s clothing brand Marc Boehler.
According to the PROMPERU official, these firms would also be participating in the upcoming Colombiamoda fair scheduled to be held from July 22 to 24, 2014, in the Colombian city of Medellin, as the event is a platform which would help the apparel firms to attract foreign investors.
A franchise is the practice of transferring to third parties the use of the brand or the business model of an enterprise in exchange for payment of royalties, which allows one to expand the company's business.