Survey of Chinese Garment Company Strategies - Summer 2005 Buying Season
Released on = April 19, 2007, 4:25 am
Press Release Author = Namrata
Industry = Small Business
Press Release Summary = Quota elimination at the end of 2004 will trigger a major restructuring of the global textile and clothing industry from which China will be the main beneficiary
Press Release Body = Survey of Chinese Garment Company Strategies: Summer 2005 Buying Season
Quota elimination at the end of 2004 will trigger a major restructuring of the global textile and clothing industry from which China will be the main beneficiary. The world's buyers now have greater access to China's low price garments and will shift more orders to the country. Many predict that China's share of US and EU clothing imports will double or even treble in the next five years. 91% of respondents in a survey of Chinese summer garment suppliers were expanding capacity in anticipation of increased orders, and intended to focus on higher value EU and US markets at the expense of Asia. New factories are being built and existing factories expanded. Workers are being hired and machinery purchased. Products with the highest expected growth rates were said to be men's T-shirts, men's casual shirts, women's summer dresses, and girls' summer wear. However, the industry faces major challenges.
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