|There is no denying that production of apparel has seen a downslide in China over the last few years since the Chinese government took a strategic decision to move up the value chain in manufacturing. Creating further uncertainty in China were the cold vibes being exchanged with the US, often referred to as trade war since America imposed additional import duties on Chinese products in 2018. The conflict came to flash point in 2019 and enhancing the anti-China movement has been the onset of the pandemic, as China is ‘credited’ for bringing this crisis to the world!|
|In the US market, China lost 7.5 per cent market share in value terms in the period January-September 2020, which is significant and reflects the mindset of buyers and consumers alike. There is no denying that China has been a major sourcing base for all fashion retail markets for decades and there are many buyers, both from retailers and brands, who depend heavily on the country for their lines.|
|Though, a China exist is on the cards for many brands and retailers, global experts are of the opinion that with its high efficiency, research and development capacity as well as a mature transport and logistics services, China's textile and apparel industry remains the most reliable supplier of global fashion brands despite potential supply chain disturbances in the past few years.|
|A China plus one sourcing strategy has become critical for all buyers of apparel. What this means in real terms is that buyers sourcing their products from China are now looking at new options, as China is no longer the most attractive sourcing destination. A question that would undoubtedly be playing on the minds of buyers looking for exit from China is - where to next?|
|Finding a good partner in the global apparel value chain is a real challenge. There are so many criteria that have to be met, from basics like good product and competitive price to more current concerns like worker safety and sustainable initiatives. While one factory in a certain country may have very good quality products, another factory may be highly competitive on price and a third may be efficient and responsive to fashion needs… the permutation and computation of a preferred supplier are many, changing from buyer to buyer.|
|So as of now where is the buyer going? Though it is still early to say, import data indicate that Vietnam and to a smaller extent Bangladesh have got a piece of the cake, but the cake is large and many more countries, including India could get a share. As of today, China has around 33 per cent market share in the US garment import industry while India’s share hovers around 4 per cent.|
|As buyers search out ways to touch base with manufacturers in countries that are expected to boom, ASW Marketplace presents a platform to explore compliant garment manufacturers from Bangladesh, Indonesia, Sri Lanka, and India displaying their latest collections that are in line with trends and fashion requirements of different markets.|
|Launching on 2nd December 2020, ASW Marketplace will provide a conducive environment to build a long-term relationship, to understand manufacturing capabilities, the quality and timely delivery standards and also identify the ways with which the manufacturers can address your growing needs. The Marketplace, at regular intervals will also see targeted V-Expos on specific themes full of knowledge activities and platforms to engage all visitors and participants for impactful networking!|
Apparel Sourcing Week (ASW) platform is aligned to the changing dynamics of the industry, moving in pace with evolving and shifting world trade of apparel sourcing while also acknowledging the changing needs and wants of the customer.
To facilitate the seamless process of sourcing for greater transparency and reach, the ASW platform offers the industry three independent verticals – Big Show, Marketplace, and V-Expo – to enhance business opportunities for all players in the fashion retail chain, in an environment of networking, knowledge, and inspiration. With the three verticals, the supplier has marketing opportunities all around the year like never before, while the buyer has multiple avenues to search his perfect sourcing partner from South Asia.
Apparel Resources is well known for its benchmark publications – Apparel Online, StitchWorld and Resource Guide published from India, Bangladesh & Vietnam. These publications have been around in the industry for over 35 years, supporting, guiding and standing by garment exporters and the retail industry globally, providing them a platform to source better.