‘Doom & gloom’ may be an appropriate tagline for 2009 in the finance world, but other sectors are making it through the year with some optimism. Along the fashion supply chain, economic uncertainty has bred improvements in business operations and product design: the business-saavy are as active and as focused as ever, turning crisis into opportunity.
The year so far has been unexpectedly positive for APLF exhibitors and visitors. Our recent events are proof that suppliers and buyers are doing business, and probably more effectively.
To recap, in these past five months we have seen our members seizing such opportunities - most recently in May at APLF’s first-ever exhibition in India. Footwear Materials, Manufacturing & Technology (fMM&T) got off to a flying start by filling a clear gap in the market. The second event is already being planned for 2010.
Back in March, we witnessed the energy and optimism at our synergistic fairs - APLF’s long-standing MM&T leather, materials and components fair, the finished-products focused Fashion Access and - every CEO’s favourite event - Prime Source Forum for the apparel and textiles sector.
It’s a misconception that what suffers along the supply chain during hard times is product quality. Worthy of note is that March’s MM&T and Fashion Access showcased myriad innovative, design-strong products and ideas that made it a very vibrant year for the Best of APLF Awards. Evidently, many companies within the industry find the best of design, innovation and purpose is what sells.
On the business strategy front, Prime Source Forum brought together senior executives from the apparel sector , in a neutral environment to discuss problems common to them all - the financial crisis, compliance, transparency - to name a few. The details? Women's Wear Daily (WWD) casts its eye over the 2009 edition.
Moving forward, expect our upcoming 2009 fairs to match, maybe exceed, the optimism we’ve seen so far. As we prepare for September’s All China Leather Fair (ACLE) in Shanghai, we foresee strong participation from foreign companies eager to tap the Chinese domestic market, to offset the slowdown in their own countries. China is, after all, one of few markets seeing positive growth (albeit slower than previous recent years), and China’s substantial tax changes (most recently amended in March) are bound to boost trade activity in the leather sector.
Finally, get ready for spring-summer 2010 at Fashion Access set for early October in Hong Kong, where we will continue to specialise our fair for ‘head-to-toe’ fashion and accessories. Not losing sight of the bigger global issues, Fashion Access will place particular emphasis on sustainability this October, in both our product offer and comprehensive seminars.
Now, as companies clear up after another exhibition, it's tempting to think that's the end of it for another year. But it's not over: now comes the follow-up. There are new and innovative ways to make this really productive. One tool on-hand is the internet. Consulting firm Business Strategies Group (BSG) recently named “vertical online trade websites” as one of the key trends to watch for online promotion.
We advise you to complement your tradeshow investments with such targeted portals, like FashionNetAsia.com, which is dedicated for fashion and leather professionals. Create or browse virtual showrooms to sell or source products, streamlined for your business sector.
On a final note: for those who have not already done so, now is a good time to reconsider your entire business model, and a good place to start is questioning where and how you fit into the overall supply chain. Are the contacts and networks you have tendered all these years still really important? Maybe they are, maybe not. Either way you need to know.
Today the good news is that there is business to be done but you have to be prepared to ask yourself some hard questions, take some risks, and, of course, travel.
Go for it.
