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Apparel brands to "rule the roost" when US garments quotas |
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2004-7-15
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Major apparel brands of Philippines such as Bench, Penshoppe, Bayo, Kamiseta and Folded & Hung look forward to the lifting of quota imposed on garments and textile exports by USA early next year, according to the Garments and Textile Export Board (GTEB).
“What the end of the quota will develop for the Philippines is the Philippine brands. Without the quota, Philippine regional brands can now access the US market,” said Serafin Juliano, The board’s executive director.
The US exports currently account for about 70 percent of the country’s annual garments and textile exports.
He referred to Bench, owned by business entrepreneur Ben Chan who was opening up a mid-sized retail shop in the West Coast next year once the limit imposed by quota countries is lifted.
“They are opening a shop in the West Coast but we cannot support them right now. They cannot ship their products because they don’t have a quota. We are talking about opportunities with the end of the quota regime, Bench can go full blast,” Juliano added.
A major apparel producer would have to shell out between $5 million and $10 million to set up a mid-sized retail outlet in the West Coast.
He also stated that Filipino brands are now well-known in different parts of the Asia-Pacific, particularly in Southeast Asian where no quotas are imposed on garments and textile exports.
A 14.3 percent rise to $3.04 billion is expected with the lifting of quotas next year from the projected $2.66 billion this year, even as the government expectations belie seeking a flat growth for the industry this year. |
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