Starting from 2006, Chinese lace industry is persistently haunted by misfortunes and depressions.
New labor law and RMB appreciation has only add to the already mounting grievances of the industry. In fact, Chinese foreign trade enterprises have started showing vigilance while receiving orders.
So grave is the situation that foreign clothing enterprises in China are moving out to re-establish their base in some other country that offers a more lucrative proposition.
Profits of the local lace industries are getting marginalized rapidly, to the extent that some of the manufacturers have almost stopped production. Besides, those with old machineries and insufficient financial backings are likely to go for a closure soon.
To overcome this crisis, experts suggest lace producing entrepreneurs to give up on producing low grade goods and opt for high quality products. In addition to this, manufacturers can also grab the alternative of using domestic or second hand equipments to save on costs and secure profits.
Fibre2fashion News Desk - China
marketing@alchempro.com
