Peruvian garment exports might total US$1.038 billion by the end of 2019, thus increasing 8% compared to last year, Lima Chamber of Commerce (CCL) projected Tuesday.
According to CCL's Clothing Guild, the Inca country's fashion industry seeks to position itself in markets that are willing to pay higher prices for quality, where it can offer products with greater added value.
This strategy was proposed due to the international competition of low-cost factories based in some Asian countries, which offer inexpensive garments.
"This result would happen, provided that exports maintain the performance shown in the first half of 2019, as they expanded 8% and amounted to US$484 million compared to the same period in 2018," Clothing Guild Manager Fernando Gomez de La Torre expressed.
Likewise, he indicated garment exports have registered an annual growth rate of 7% over the last three years.
Furthermore, Gomez de La Torre pointed out this rise will generate a positive impact for Peru, as it shows the industry's capability for adaptation to new challenges and changes of the global market.
Peruvian fashion
It should be noted Peru's garment export industry is developed under two business models —full pack and protopack.
Within this framework, the officer mentioned it is necessary to seek other products with higher added value with the purpose of offering them to international brands.
The manager also stated it is necessary to boost and raise awareness of the Inca country's fashion, as well as to achieve its international positioning through designers and Peruvian brands under the brand "Peru Textiles" led by PromPeru.
For that reason, he recommended that —in order to dynamize the fashion industry— it is important to create a Peruvian fashion system, an organization that must include the State and the private sectors.
(END) CNA/DTK/MVB