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Acid test for apparel producers post-recession
12
Oct '09
As per the World Bank's predictions, global economy will contract 2.9 percent, compared with a previous forecast of a 1.7 percent decline.

Current recession prevailing in the world will have many and deep implications for the International Apparel trade especially for Apparel manufacturers and exporters.

Many companies have gone in for a shut down leaving people jobless. Apart from this direct job loss, many indirect job losses have occurred as companies streamline their operations, and go for cost cuttings.

Even after the economy revives, apparel businesses will face problems due to two main reasons. First the apparel manufacturers are selling at low prices to keep businesses afloat, due to which bringing the profitability level back to normal will be a difficult task.

Secondly, protectionism is another huge factor which apparel manufacturers would have to keep watching. Protectionist voices have increased in number and intensity over the last one year, but, fortunately till now, in the apparel trade, these measures have been far and few, but, just because it has not been done till now does not guarantee it will not be done in the future.

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Fibre2fashion News Desk - India

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