A memorandum of understanding (MoU) between Peru's Trade Office in Beijing (Ocex Beijing) and Chinese companies will allow the Inca nation's alpaca garment exporters to cash in some US$1.5 million a year.
The agreement thus paves the way for Peruvian alpaca
clothing to conquer the increasingly demanding Chinese market.
In this sense, Ocex Beijing forecast a US$500,000 first-year revenue for each Peruvian exporting firm as a result of the arrangement, before tripling sales to US$1.5 million in the second year.
The MoU presentation ceremony saw the presence of Peru's Economic and Commercial Counsellor in Beijing Diana Pita, Beijing Institute of Fashion Technology (BIFT) Deputy Dean Ronglin Jia and e-commerce platform JingDong Vice President Yuechuan Qu.
The project to open an online Peruvian alpaca garment store is the result of the Andean country's collaboration with BIFT, JingDong Group, as well as Chinese executives who participated in Peru Moda
fashion trade show.
Peru – BIFT
Chinese fashion school BIFT has a history of cooperation with the Peruvian Exports and Tourism Promotion Board (PromPeru) and Ocex Beijing dating back to 2014.
Peru and BIFT are bound by an agreement for Peruvian fashion designers to do internships at the Beijing institution.
Peru – Jingdong
At BIFT's recommendation, e-platform JingDong became interested in opening a special online store space for Peruvian firms to market top-quality alpaca garments under sectoral brand Alpaca del Peru (Peru's Alpaca).
The enterprise also includes plans to set up a physical store —later this year— offering Peruvian clothing, jewelry, food products, among others.
The initiative was commended by Peruvian Foreign Trade and Tourism Minister Eduardo Ferreyros, who underlined the entry of alpaca goods to the Asian Giant reflects Peru’s incorporation into China's One Belt One Road