Newsletter: February 2003
Strategy for
Sri
Lanka Apparel Industry
Sri
Lankan apparel industry was told to understand their customers and brands,
build up their performance record, focus on productivity if they want to
succeed after 2005.
Speaking at a meeting hosted by The American
Chamber of Commerce in Sri Lanka, industrialist Martin Trust warned that the
removal of quotas in 2005 could easily see US exports from the “China
region” (China, Hong Kong, Taiwan and Macau) increase from $11 billion to
$20 billion.
Outlining some of the industry’s strengths,
Trust explained that garments constitute around half of Sri Lanka’s total
exports, and garment exports to the USA make up a third of Sri Lanka’s
total exports. In return, Sri Lanka is sixteenth on the list of garment
exporters to the USA.
He added: “On a per capita basis, Sri
Lanka’s exports are fourfold those of Pakistan and significantly more than
India.” As to the quality of the products exported, buyers were willing to
pay more for a Sri Lankan garment because they were “highly valued by the
customers.”
However, US consumers are no longer willing to
accept any garment put before them. Producers must be “brand savvy,
posses the ability to understand why it was being made for consumption and
track the brand to comprehend its image significance to the consumer.”
Likewise, compliance with labour laws and
regulations has evolved into compulsory business practice.
“Non-Governmental Organisations (NGOs) and other industry watchdogs are
ever vigilant and no manufacturer can afford to ignore them.
Paying glowing tributes to Sri Lanka and its
workforce, Trust said that in 20 years of doing business, “every time I
visit Sri Lanka, I see real progress, better efficiency, more convenience,
enhanced service, improved skills, greater professionalism, innovation and
most importantly, world class talent.”
