Home / Knowledge / News / Textiles / Greek textiles industry searching for new strategies
Greek textiles industry searching for new strategies
Oct '11
The once blooming Greek textiles industry is searching for new strategies to recover the losses it suffered due to considerable drop in its exports, especially in European markets.

Until recently, the decline in domestic demand for textiles was made good through rise in exports. But, with the exports also taking a downward turn, small and medium enterprises are being thrown out of business, according to Eleftherios Kourtalis, President of Association of Greek Textile Manufacturers.

Mr. Kourtalis revealed that most textile manufacturers in the country are now operating only 15 days a month owing to the reduced demand from overseas markets. He further said the textile manufacturers want to avoid a repeat of build-up of surplus stocks, which happened two years ago.

For the first time in the country, he added, many textile units had to stop operations for about a month during the summer period.

Moreover, in the absence of a supply procurement committee, Greek textiles suppliers are facing long delays in receiving state payments. As a result, it takes months before payment is made after an order is fulfilled.

Under such circumstances, Greek textile industry is searching for new strategies and some major textile players like the Hellenic Fabrics SA and the Epilektos-Selected Textiles SA have already taken steps towards diversifying into non-textile sectors.

According to the Hellenic Statistical Authority (ELSTAT), in the initial six months of current year, Greece exported textiles and clothing items worth 222.7 million euros, a decline of 4.1 percent year-on-year. Similarly, exports of textile raw materials declined to 70.9 million euros during January-June period, as against 139.3 million euros in the corresponding period of 2010, a drop of 49.1 percent.

Production in the textiles sector also plummeted by 18.4 percent year-on-year in the first six months of the current year. The overall new orders were down 6.6 percent year-on-year, of which the domestic market recorded a drop of 13.6 percent while foreign markets showed a positive growth of 3.9 percent.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 25th Oct 2016

Arvind to dilute 10% stake in brand business arm

Arvind Limited, one of India’s largest integrated textile and apparel ...

Courtesy: Commonwealth Bank of Australia

Textiles | On 25th Oct 2016

World’s first cotton shipment using Skuchain’s Brackets

The world’s first trade transaction involving shipment of cotton...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Ashok Desai
Bombay Textile Research Association

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

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search