In 2005 apparel quota system came to an end. As the results, many small apparel companies have closed their operation because they can’t find an overseas customer. In the mean time companies like MAS holdings, Brandix, Hirdaramani have developed their own strategies and competing with global giants. We have a huge competition from India, china, South American countries.
Each country have their own advantages, for example Chinese advantage is the low cost of production, while south American countries are enjoying less lead time. Sri Lanka’s advantage is the 20 years of experience in the industry.
For example MAS has developed their own brands and exporting them to countries like India. In India MAS’s intimate wear having a high demand. Their target is middle class of India, where they have lot of surplus to spend.
Last week tea export has reached 1 Billion USD, but still apparel continues to be the first source of foreign exchange. More than 50% of export is apparel.
Sri Lanka’s apparel industry has more than 20 years of experience. They can utilize their knowledge and experience to compete in the international market. In my personal opinion I think MAS and Brandix doing well in this aspect.
Hope it’s a hope for Sri Lanka!
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