Bricks and Mortar stores will always exist, however...
Lihua Zhu, Chief Executive Officer of Dishang Group, talks about the current scenario of the textile and garment industry in China and rest of the world, in an interview with Fibre2Fashion Correspondent Ilin Mathew. Synopsis: Founded in 1993, Dishang Group is a large comprehensive and diversified group of companies that traces back to the Weihai Textile Group Import and Export Co., Ltd. Taking import and export as the core area, the company also focuses on garment trading, garment manufacturing, domestic sales and overseas brand agency, overseas investment, etc. Dishang group owns over 40 subsidiary companies and 45 international trading divisions. Zhu started his career in the clothing industry as a garment designer at the Weihai Garment Factory and gradually he was promoted to senior management positions. In 1998, he became CEO of Weihai Textile Group Import & Export Co., Ltd, and since 2006 he is also the CEO of Dishang Group Co., Ltd. Excerpts:
Textile sector wages in China have risen by 125 percent from 2001 to 2011. What is its impact on the Chinese apparel industry?
Despite China’s global dominance, the rising production costs have led many low-margin fast-fashion brands to exit the country in favor of cheaper manufacturing countries. Do you think that it will have a negative impact on the Chinese apparel sector? How?
Countries like Cambodia and Myanmar are expected to take a greater share of shift in low-margin production away from China. Do you see these countries competing with China in the apparel business in the longer run?
Besides China, Dishang Group has its presence in the US, Europe, Japan and the Middle East. How will the upcoming trade partnerships like the Trans-Pacific Partnership (TPP) and the Asean Economic Community impact your business?
Do you agree that a new generation of highly affluent, knowledgeable and discerning Asian consumers has emerged over the years? How can the garment industry ensure satisfying their demands?
What prospects do you see for the Middle East garment industry in near future?
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.