Thailand'S Clothing Market Is Becoming Hongkong'S Brand New World.
According to a report issued by the Hongkong Trade Development Council today, according to the opinions of Thailand retailers and importers, the demand for local clothing in Hongkong is increasing due to the increase in consumption in Thailand.
Last year, the total value of clothing exported from Hongkong to Thailand amounted to HK $503000000. In the first two months of this year, Hongkong exported eighty-eight million yuan to Thailand, up Twenty-three percent. According to the report, about two million Bangkok residents now earn twenty thousand to thirty thousand baht (HK $three thousand and nine hundred to $five thousand eight hundred and fifty) per month. They are called Upper dle class locally, and they like to pursue clothes that reflect personal tastes.
The TDC report found that although Thailand consumers generally love Hongkong's clothing, they do not necessarily know some well-known brands, such as Baleno (Baleno), Bossini, Crocodile, Giordano (Giordano), Si Jie (ESPRIT), EDC, vertical and horizontal two thousand (G2000), U2 and Toppy, Episode, Jessica and color eighteen (Toppy) are Hongkong rather than western brands. Although Hongkong's clothing brand is popular in Thailand, as the brand of Benetton in Italy is much higher than that in the local market, the market level of Hongkong brand in Thailand is also higher than that in Hongkong.
He Daquan, assistant chief economist of the TDC, said that Thailand had a high opinion of Hongkong fashion designers and designers. Local manufacturers are very keen to join hands with Hongkong fashion designers to jointly develop into the mainland and international markets. Many Hongkong brands are collaborators with Thailand operators to explore the local market. Successful examples include cooperation between MinorGroup and Thailand's leading importer, as well as cooperation between two thousand and CentralDepartmentStore.
Thailand's clothing market is very active at present. Thailand consumers think that shopping is an important weekend activity. They attach importance to the design details of clothing, most of them are young people who cling to the changing fashion trend, and are easily influenced by celebrity effects. According to the expectation of Thailand retailers and importers, the clothing expenses of local consumers will increase day by day, and the market prospect of ready to wear garments imported will be particularly satisfactory.
Free trade agreement promotes import tax rate decline
For example, according to the free trade agreement signed between China and ASEAN, the tariff rate of imported garments has dropped from 30-37% to 20% since July 2005, and will be exempted from tariffs by 2010.
The middle class is getting richer.
The middle class in Thailand is following the brand clothing to highlight individuality and life taste. It is estimated that about 3% (2 million) of the current population of Thailand is the upper middle class with a monthly bait of 20000-30000 baht (about 500-750 US dollars).
Big retailers pursue new strategies
In order to remain competitive, retailers in Thailand must introduce different products and services to stand out. For example, Tesco-Lotus is repositioning its clothing business, shifting its product from the "basic" route to the "more stylish details" style.
Clothing industry is highly valued
In view of the fact that Thailand has no winter, the country is keen to develop Bangkok into a "tropical clothing hub" to help Thailand designers and enterprises expand the export of fashion and clothing.
Hongkong designers have a reputation in Thailand.
Many designers in Thailand are interested in working with Hongkong designers and companies to enter the mainland and international markets.
However, Hongkong brand is facing a strong competition from Thailand and European apparel brands. In addition, Hongkong clothing is also threatened by the "gray market tide" in Thailand. Because Hongkong clothing is welcomed by consumers in Thailand, some companies smuggle Hongkong clothing imports in order to avoid customs duties. These garments are lower than those imported from formal channels, and are unfavorable for the development of Hongkong brand clothing.
- Related reading
Pakistan'S National Bank Asks The Government To Revise The R & D Investment Policy Of The Textile Industry
|South Korea'S Textile Capital Promotes Urban Pformation With Industrial Upgrading
|- business etiquette | Japanese Business Etiquette
- Shoe Market | NBA Stars Come To Help &Nbsp; Domestic Brands Watch The Second Tier Market.
- Winning information | Bohemia: A Dazzling Flower In The City
- Power flow analysis | Hundred Summer Fashion City TEE Concept!
- business etiquette | Business Email Etiquette
- Market topics | Huizhou Merchants: Take Account Of Physical Stores And Fabric Networks.
- Local hotspot | Wenling Shoe Enterprises Attach Importance To Environmental Protection &Nbsp, And Collect Waste Products In Use.
- Learning Area | The New Start Of Fashion "Han Feng" Blowing Into The Weaving Children'S Clothing City
- Market topics | China's Low Price Labor Market Position Will Give Way To Bangladesh.
- Winning information | Peng Xing Was Selected As The Ten Biggest Figure In Textile And Garment Industry In 2010.
- Pakistan'S National Bank Asks The Government To Revise The R & D Investment Policy Of The Textile Industry
- South Korea'S Textile Capital Promotes Urban Pformation With Industrial Upgrading
- The Annual Cotton Turnover In Pakistan Decreased By 8.52%
- Pakistan Textile Industry Gets 176 Billion Rupees Export Financing
- Cotton Production In Australia Is Likely To Soar To 1 Million 500 Thousand Packs.
- India Gujarat Will Lower Seed Price Of BT Cotton
- US Agricultural Counsellor: Australia'S Cotton Production And Export Expectations Expanded
- Prospects For Sino Japanese Textile And Garment Trade Prospects
- India Carpet Enterprises Are Involved In The US Economy
- The Annual Output Value Of The Spanish Wedding Garment Industry Is Nearly 1 Billion 500 Million Euros.