Stating that they defined 4 strategic goal moving readywear sector’s future forward with ‘Ufuk 2030 Turkish Clothing Industry Road Map’ project, TGSD President Şeref Fayat explained that they could have 30 billion dolarsa market in 2023 with annual 6% growth.
Readywear sector defines its rote again. Sector’s authorities evaluate both market expectancies and production power all over again. Turkish Clothing Manufacturers’ Association (TGSD) President Şeref Fayat anounced their new goals and strategies for 2023 on a meeting. Sharing the details of a project called ‘Ufuk 2030 Turkish Clothing Industry Road Map’prepared by Dr. Can Fuat Gürlesel and TGSD Board of Management, Fayat said it is predicted that readywear expenses will grow 4% annually until 2023 in Turkish domestic market. Fayat expressed; “If this rate will actualize, domestic market’s consumption will increase to 26,4 billion dollars in 2023. If we can catch 6% growth, we will go on top of 30 billion dollars. ”
Highlighting that global readywear market grows every year, Fayat informed that with 2% growth expectation global readywear expenses will reach 2,3 trillion dollars and ready wear export to 607 billion dollars in 2030.
Readywear Expenses Will Reach 26,4 Billion Dollars in 2023
Stressing that they preserve their optimism about the sector’s future, Fayat stated that they made two different projections considering annual 4% and 6% growth expectation of readywear expenses. Stating that they will continue their road with the aim of actualizing the optimistic scenario. Fayat continued thusly;
“In ordinary circumstances, in Turkey, readwear expenses will reach 26,4 billion dollars until 2023 by growing average 4% every year. In the case of reaching 6% growth, this number will go above 30 billion dollars. If we predicate on the reference scenario, our export will be around 25 billion dollars in 2023. According to the optimistic scenario world readywear trade will grow 4% annually. Turkey’s share from this trade will increase to 5%. In case of this projection’s actualizing, our readywear export would go up to 30,8 billion dollars. We recalculated the sector’s road map to surpass 30 billion dollars bar both in domestic consumption and export. Despite all the negativeness we will use all our potential to reach that goal. .”
Şeref Fayat expressed their 4 strategies thusly; Smart, sustainable, innovative, fast fashion provider; export with accessible regional brands based on innovative, original design and collections, making Turkey a regional fashion shopping center with organized retail market developed with regional and domestic brands and innovative products as well as organization and marketing service meeting the customer’s demands in addition to fashion events.
‘We are Focusing on Value Added Production’
TGSD President Fayat recorded that the transformation in readywear sector started and they focus on raising the added value instead of increasing the product volume. Explaining that they develop 10 different support program to reach their strategic goals; Fayat stressed that especially ‘Qualified Manufacturer Certificate Program’ is crucial for the sector. Fayat said; “I belive that the application of this project will help us preventing illicit work and child worker issue that gives our sector a headache often in abroad. ”
In Ufuk 2030 project; it is estimated that global readywear expenses will go up to 2,7 trillion dollars in 2030 in case of 3% growth annually. For 2030 year, it is foreseen that Turkish readywear export will increase to 22,9 billion dollars. Additionally, it is expected that readywear expenses in Turkey will be 26,4 billion dollars.