Home / Knowledge / News / Apparel/Garments / Peruvian apparel exports to rise steeply in 2011 – expert
Peruvian apparel exports to rise steeply in 2011 – expert
24
May '11
Jose Luis Peroni, President of the apparel committee of Peru's leading textiles association, ACOTEX said that, riding on the back of heavy domestic consumption and positive exports, the textiles and apparel industry of Peru is set to achieve considerable gains during the current year.

According to Peroni's estimates, domestic sales would grow by 10 percent from last year's two billion US dollars, while the exports would grow by 12 percent to US $1.6 billion as the Andean country continues exploring new markets in Europe and Latin America.

Peroni said that, the current year would be a positive one, as competition from China is declining, it would allow the domestic market to grow, while several apparel chains are expected to boost their investment to expand in the domestic as well as overseas markets.

Rise in the domestic demand and intensifying sourcing woes in China have allowed the Peruvian apparel producers to reclaim their market share after suffering heavy losses due to incursion of Asian competitors.

Besides, he said that, the industry and consumer drive against the "sub-value and low-quality" garments from China has also tarnished the image of China's textile industry, and has enhanced buyer's interest in Peruvian apparel brands.

Meanwhile, Peru's economy is developing robustly, with rise in consumption and also in number of malls and outlets. This has thus generated new growth prospects for domestic brands.

The Peruvian producers, in order to meet this soaring demand have refurbished their abilities, like building capacity to produce stylish premium quality apparels in bulk and to speed up the shipments, Peroni said.

Furthermore, in recent years, the domestic industry has also considerably boosted its investment to establish itself as a full-fledged producer of value-added upmarket garments.

Peroni believes that, the current year's export rise would spring from the country's endeavours to penetrate into newer markets.

Owing to increasing sales to Europe and Latin America, export share of the US which conventionally has been the biggest buyer of Peruvian textiles, has plummeted from 70 percent to 58 percent just within a few year's span. Germany, Italy, UK, Colombia, Venezuela and Brazil are now the major export destinations for Peruvian textiles.

While concluding Peroni said that, the investments are expected to cross the last year's US $150 million mark this year, as the domestic brands keep on expanding.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Mark Paterson
Technical Absorbents Ltd

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


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