Face2Face extends a warm welcome on this talk, Mr Gherzi! How if we start talk with a word from you on Gherzi’s recognition in the world of textile consultants, and its assumed role in sake of industry?
Gherzi has been established since 1929 and is regarded as a provider of integrated and independent advisory services to the textile and clothing industry. As we cater to a much matured and highly globalized industry, it requires an in depth experience and an international perspective to satisfy our clients' expectations. This is especially important when decisions made by our clients have far reaching implications in terms of their financial footprint with long term returns. In the eight decades of our existence we have carried out over 7500 projects and our partners evaluate the issues with a global perspective based on a wealth of experience.
We appreciate the proficiency. So with this wealth of accrued experience and knowledge dealing in industry since years, tell us your purview on current state of the global textile, garment and retail industry?
The prevailing situation can be summarized in key trends that have emerged since 2008,
a) Fall in demand as retail sales in three developed markets viz EU 27, USA and Japan declined or stagnated in 2008-09. Even in India where organized retailing saw remarkable expansion, the sales belied expectations.
b) apparel imports in the US and Japan registered double digit decline in 2008-09.
c) pressure on prices
d) freeze on new investments
e) most textile and clothing exporting countries recorded lower or negative growth in 2008-09. India's textile and garment exports stagnated in 2008-09 while those from China moderated to single digit growth levels. In the second half of 2009, even the surge in exports from emerging countries Bangladesh and Vietnam cooled off and their industry started to feel the impact of global economic and financial slowdown. There is an imminent desire among existing players to discover new markets and segments.
The governments and the industry in these countries responded by announcing several intervention measures to cushion the impact on this important sector of the economy.
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.