Financial Daily from THE HINDU group of publications
Saturday, Sep 24, 2005
Financial Daily from THE HINDU group of publications Saturday, Sep 24, 2005 |
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Industry & Economy
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Knitwear & Hosiery Marketing - Strategy TEA to set up bonded warehouse in Antwerp Our Bureau
Coimbatore , Sept. 23 KNITTED garment exporters from Tirupur have sought to beat the off-season blues in marketing in foreign lands by opening bonded warehousing. Their first such venture is likely to begin next year with an offshore bonded warehouse, sponsored by Tirupur Exporters Association (TEA), coming up at Antwerp in Belgium. The proposed project, a 50:50 joint venture with the Tuticorin-based logistic service providers, St John Freight Systems Ltd (SJFS), is aimed at catering to the small volume supplies of readymade garments to inventory-conscious Euorpean retailers. It is also designed to keep a watch on the demand pattern for knitwear from the retail chains there, so as to enable the Tirupur producers gauge the market promptings, according to the President of TEA, Mr A. Sakthivel. Antwerp has been chosen because of the easy access it would provide in reaching products within 24 hours to stores in Germany, France and within 48 hours to those in Spain. It will also help the knitwear exporters back home to produce goods during their lean periods, i.e, between June and August, and shipping them to the European warehouse. There are 36 knitwear units associated with the Antwerp warehousing project and they would get concessional charges for handling their merchandise by the warehouse. Addressing the presspersons in connection with the forthcoming `India Knit Fair' for the autumn/mid-summer 2006 collections, the TEA President felt that the warehousing concept help in sustaining profit margins, especially at a time when Tirupur garment units have gone on capacity expansion. Based on the success of the Antwerp warehousing, TEA would consider setting up facilities in East and West coasts of US. Mr Sakthivel said several garment categories such as the `T-shirts', underwears and home-wears could register 45 to 50 per cent growth in exports to US due to the embargo on the shipments from China.
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