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IAF studies sway of developing countries' apparel sector
22
Sep '14
A new study commissioned by International Apparel Federation (IAF) explores the increased relative power of the garment industry in developing countries vis-à-vis the global apparel system.

IAF says its truly global membership is a reflection of this more equal balance and offers the opportunity for executives from all layers of the industry to discuss strategy on an equal footing.

The study carried out by Indian apparel consultancy firm Technopak, will be given to all delegates of the 30th World Fashion Convention that is to take place in Medellin, Colombia on September 30.

“As such, the study will set the scene for such speakers as Stefan Siegel, Adriano Goldschmied and Horacio Broggi of Desigual, who will speak on same set of challenges faced by the industry as addressed in the study,” IAF informs.

According to the study, the global fashion market is becoming more homogeneous, while at the same time, it suggests that brands and retailers must adapt their collections to local tastes.

“Sometimes these local varieties slip back into the global fashion loop, making the world market a source of inspiration for itself,” the study mentions.

International brands are gaining market share in emerging markets. But more remarkable is the large share of local brands in these markets, the study says.

Ideally, foreign brands actually help the development of local brands by setting an international bench mark, without actually dominating these markets and leaving plenty of room for local brands to prosper.

On the supply side, the study outlines the reaction to rising production costs, particularly in China.

It says, improving production instead of moving production is an important trend and it is reinforced by increasing internet retail requiring companies to keep tighter control and more visibility over their supply chain.

It is expected that as a result, the study says, the market share for the large manufacturing groups will increase given their scale of operation and control over supply chain.

Positive changes in the apparel industry will be driven more in the coming decade by investments in the manufacturing part of the industry.

Improved performance, CSR and sustainability is interlinked with these investments, making improvement in supply chain and factory productivity interlinked with investments in CSR and sustainability.

“Of course, the apparel industry will see new countries entering the global production chain,” it avers.

But more so than before, companies will seek to cooperate to try to exert sufficient influence over the new environment that they will be operating in.

Realistically, they can only do so collaboratively, which is why we foresee a greater role for global industry groups working with multilateral organization, national governments and local industry associations. (AR)

Fibre2fashion News Desk - India


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