New textile categories & quality value adds, key growth drivers - ITAC2006
21 Apr '06
5 min read
Day 2 of the 4th International Textile and Apparel Congress saw the 200-plus delegates focusing on specific aspects of market dynamics from creating fashion brands to supply change management.
Mr. Yakup Gungor, President of the Sabanci Textile Group of Turkey, talked about the changes in the mindset of countries post-quota.
He elaborated that the first year of quota free trading highlighted a new sourcing approach and strategy for brands and retailers, talking beyond price.
According to him “Suppliers with an ability to differentiate themselves from price based competition will be the survivors in the new world order. The future is Full package providers and not separate individual textile and garment suppliers.”
The phase-out of quotas provided India with a number of opportunities for development. Within the first year after the quota regime was removed in January 2005 Indian textile and apparel exports increased by 19 percent, second only to China.
Textile and Apparel exports from India to US and EU in 2005 grew 27 percent and 18 percent in value terms respectively.
Speaking about the opportunities and challenges of sourcing from South Asia Mr P Jagannath, Managing Director - Target Sourcing, AMC, India said that globally retailer's views are changing.
Some factors contributing to this change are increase in global competitors and increasing trend towards deregulation, rapid pace of technological change, greater market fragmentation and more alliances, acquisitions and mergers.
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