MILAN, Jul 26 (Class Editori) – Bologna Centergross, the largest European wholesale trade hub for the ready-to-wear, fast fashion sector, sees new development prospects taking shape in Asia.
The new starting point is the visit of the Ambassador of the Republic of Indonesia in Italy, Esti Andayani, together with the Minister Counselor of the Economy, Harya Sidharta, and the Minister Councilor of the Fashion Sector, Charles Hutapea, who recently toured the one-million-sqm fashion city in Funo di Argelato, on the outskirts of Bologna.
"The district dedicated to Made in Italy fast fashion wants to shorten the distance with Indonesia – world's fourth democracy and sixteenth economy, boasting one of the highest international growth rates," commented Luca Gazzotti, President of Centergross, who paid a visit to some companies together with Advisor Gianluigi Mazzoni.
The Indonesian delegation found the high quality of the products, paired with competitive prices, was one of the most interesting elements to the projects – as it represents a key value for the Indonesian market, whose average class is estimated to triple in the next 15 years.
"The international middle class has always been our reference target. Establishing business relationships with the Indonesian market is a significant milestone for us, as well as being an important starting point for new developments for all the companies in our pole," explained Gazzotti.
With an interchange of around 3 billion euros, Italy is Indonesia's third largest trading partner within the EU, after Germany and the Netherlands. "The Indonesian market figures show that Italy’s current position could lead to a doubling in trade volumes," explained the Jakarta embassy.
Follow ups to this first institutional visit are the first incoming buyers, expected to arrive during the next few months, and the new open potential for creating partnerships with Indonesian companies – mixing Made in Italy expertise with local traditions.
Centergross, active since 1977 thanks to its founder's pioneering intuition, constitute an excellent incubator, capable of creating successful realities in the fashion universe. Centergross allows the development of business ideas, and their routing toward the international fashion market. The signs are encouraging: cross-border sales are growing again, sustained above all by non-European markets, primarily Asia.
The sector is characterized by a strong propensity to export, with over 70% of total production destined to international markets. Leather goods and footwear are the most popular items, along with tanning and clothing ones. In addition, the outlet markets are increasing, in particular towards Asia and North America, and new opportunities for commercial development are opening up, especially in China – a country where Italy increased its trades by 230% between 2008 and 2018.
Centergross surprised the Indonesian delegation also in terms of its size. The district covers an area of 1 million square meters, hosting a 400-thousand-sqm exhibition area, and offices covering 100 thousand square meters. Around 10 thousand buyers come visiting the center per day, moving a total business volume of around 5 billion euros, also thanks to the work of 6 thousand employees – over 60% of which are women. 60% of Centergross' trades are with foreign countries, found across Asia, Europe, the United States, and the Middle East. It works with around 540 companies – around 25% of which are active in women’s clothing – and 240 fashion brands. Also, 98 companies produce textiles and accessories, 94 specialize in high-tech trade, while 111 are service providers.
The Industry Book, a vertical sector study conducted by UniCredit Corporate Marketing, could verify that cross-border business potential in the fashion sector still has space to grow, and so does the implementation of companies' organization and commercial capacity – including through dimensional growth, better connection with international production and distribution chains, and promotion of supply chain integration processes.
After the summer break, Centergross Bologna will participate in CPM – COLLECTION PREMIÈRE MOSCOW, the most important international trade fair in Eastern Europe, hosting over 22,000 business visitors and about 1,400 fashion brands from 30 countries. The event is due to take place on September 3rd-6th, 2019, at the Expocentre Fairgrounds of Moscow.
(Source:Class Editori)
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