Home / Knowledge / News / Apparel/Garments / Clothing retailers need decent return from seasonal stock
Clothing retailers need decent return from seasonal stock
29
Mar '11
One month on from the earthquake, Fashion Industry New Zealand (FINZ) takes stock of clothing businesses in Christchurch, to determine the immediate challenges and long-term outlook for ragtraders in the country's third-largest city.

Given the high concentration of fashion retail in the CBD, clothing merchants were among those hardest hit. Several wholesalers suffered moderate damage on the city fringe, but most manufacturing remains intact, being situated in the surrounding suburbs.

Figures from last year show that apparel represents 13.3 percent of physical retail in Christchurch City; home to 415 clothing stores that employ 2,060 people.

Most clothing retailers in the central city still don't have access to their premises and cannot assess the full damage. Those who have managed to recover stock are now trying to clear summer garments as temperatures drop.

“Some boutiques are operating from temporary sties, while those with multiple stores have transferred stock to other locations. Businesses engaged in e-commerce are also working harder to push sales online,” says Fashion Industry New Zealand - FINZ executive officer, Mapihi Opai.

With collections for winter being delivered through February and March, clothing retailers in Christchurch have also been faced with the tough decision of whether to receive existing purchase orders or cancel them.

“It's a difficult situation. A lot of them still have money tied-up in stock that would have otherwise been cleared a month ago. But, clothing is a very seasonal product and retailers who can't take hold of deliveries for winter will have very little to trade on over the next six months,” says Opai.

“End-of-season stock has to be sold and it's got to happen fast. Retailers also need a decent return on this product to help give them a fighting chance going forward. So, we're urging everyone to support apparel companies in Christchurch by purchasing clothing from their online stores and catalogues.”

Christchurch represents 10-40 percent of the domestic wholesale market for clothing suppliers throughout New Zealand. Cancelled purchase orders for winter had a significant bearing on many of these firms, few of which can afford to hold stock in the lean economic environment.

“Wholesalers will carry the loss for winter and have been extremely supportive of stockists who are struggling to get back on their feet. They've extended payment terms and accepted cancelled orders, but are now having to try and shift this product to other retailers around the country,” says Opai.

When asked what the future holds, Christchurch ragtraders were divided. For many, the earthquake had a negative impact on business, but the loss of lives has weighed more heavily on their minds in the weeks following than the long-term outlook for trade or plans to rebuild the city.


Must ReadView All

Bangladesh garment exports rise 7.46% in July-Nov '17

Apparel/Garments | On 11th Dec 2017

Bangladesh garment exports rise 7.46% in July-Nov '17

Readymade garment exports from Bangladesh increased 7.46 per cent in...

Karl Mayer opens new workshop in Vietnam

Textiles | On 11th Dec 2017

Karl Mayer opens new workshop in Vietnam

Karl Mayer, Germany’s leading textile machinery firm, has announced...

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Textiles | On 11th Dec 2017

Cotton USA promotes cotton at TITAS Taiwan tradeshow

Cotton USA, which promotes US cotton fibre and manufactured cotton...

Interviews View All

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Top executives
Textile & apparel bodies

The decision is transformational

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search