The 18th November saw Euratex host its 4th annual convention in Milan. The conferences emphasis was on sustainable innovation, a subject that is very much at the fore of European manufacturer’s agendas.
From the presentations posted by Euratex online, the discussions looked to cover a wide range of topics associated with this area. I would like to offer summaries of two which give wider outlook information on the possible future direction for the sector.
This article concentrates on the presentation by Gregorio De Felice from Intesa San Paolo on the global macro-economic outlook. His presentation foresaw modest growth for the economies of G7 countries in 2016. The main drivers of growth were identified as domestic demand within advanced economies supported by private consumption and accommodated by favourable monetary policies. However, this was tempered by a number of risk factors such as the continued downturn in emerging and commodity producing countries.
Within context to textiles and apparel, the presentation identified a continued increasing role for emerging economies as both producers and consumers.
The research presented highlighted that between 2007 and 2013, these emerging economies had significantly increased their share of both global production (now 64% of all textiles and 72% of all apparel) and consumption measures (interestingly now standing at 52% of all textiles and 24% of all apparel consumption).
Within this context, these emerging markets increased purchasing power were seen as important for high quality European producers of fashion and textiles, who remain key players in this area and maintain large global market share. Imports of high quality textiles to emerging economies between 2014 and 2020 are predicted to increase by $11 billion and high quality apparel by $17.5 billion. Opportunities indeed if producers can unlock these markets potential.
Conference details can be found at: http://euratex.eu/news-events/news/news-detail/?tx_ttnews%5Btt_news%5D=5151&cHash=04a93853fee0f6e1911fd1ac965e06c7