Apparel industry seeking domestic growth

Affected by the global economic downturn, China’s apparel export has remained stagnant this year.
Data from the China National Textile & Apparel Council (CNTAC) reveals that the total export of Chinese apparel in the first nine months of 2012 was $116.787 billion, slightly increased, by 1.35 percent year-on-year.
With the slowing of exports, Chinese apparel companies adjust their business models quickly to pay more effort to the domestic market.
According to research conducted by CNTAC, the scale of the Chinese domestic apparel market has increased from 700 billion yuan in 2005 to 1,400 billion yuan in 2011. At this point, the annual growth rate of average residential clothing consumption exceeded 14 percent and the total retail sales of apparel companies of above a certain scale have reached 795.5 billion yuan with a year-on-year growth rate of 24.2 percent.
China, the world’s largest clothing producer and exporter, claims the world’s largest apparel consuming market as well. “To explore the domestic market has become the core of the apparel industry,” said Chen Dapeng, vice chairman of the China National Garment Association (CNGA).
“China has the world’s most complete industry chain, most skilled workers and most advanced production equipment, but we don’t have a world famous brand,” said Chen Dapeng.
At present, Chinese apparel brands are mainly low and middle-end ones, lacking enough soft power to support the development of high-end brands.
