Qingdao’s textile industry taps its potential and bucks the trend, paying equal attention to foreign trade and domestic sales
The textile industry is one of Qingdao’s traditional advantageous industries. Under the influence of the international financial crisis, Jifa Group and others have actively explored “two markets” through technological innovation, product upgrading, and deep tapping of potential. At the 105th Canton Fair, exhibitors The turnover of textile companies reached US$29.49 million, accounting for 36.3% of the total turnover of the Qingdao trading group.
The sweeping international financial crisis has pushed many textile companies into the “winter cellar”. Factors such as the shrinking external demand market and increasing competitive pressure from peers have made companies face great survival challenges. In the face of difficulties, our city’s textile and garment enterprises continue to innovate, tap into their potential, and buck the trend. At the 105th Canton Fair, which concluded not long ago, the turnover of participating textile companies reached US$29.49 million, accounting for 36.3% of the total turnover of the trading group.
Product added value increased
As the leader in the national textile industry, Jifa Group relies on technological innovation, product exports and corporate profits to grow against the trend.
Jifa Group has the only national R&D center in the same industry in the country, with an average of more than 120 new fabrics and new technologies being produced every month. In March this year, the group’s independently developed new transfer jacquard fabric received large orders of more than 15 million yuan from Japanese, European and other customers as soon as it was launched. Li Yan, assistant director of Jifa Group Yihe Knitting Co., Ltd., said that due to the high added value of this product, the order volume is now very full and has been queued up to September. At this Canton Fair, Jifa Group signed another US$8.5 million contract with a major Japanese customer. The person in charge of Jifa Group said that the group is expected to maintain a growth rate of more than 10% this year.
No coincidence. Qingdao Yijia Drawn Yarn Co., Ltd. has also recently increased its efforts in product innovation and upgrading. The company timely launched a newly developed linen fabric product, which improved the comfort of similar products. Coupled with the unique pattern design, it caused attracted the interest of many overseas buyers. A large Japanese purchaser has reached a preliminary cooperation intention with the company. The person in charge of the company said that in the face of the intensifying competitiveness of peers, we cannot blindly engage in price wars. Instead, we must keep up with market trends, use product quality and creativity to increase added value, and ensure product sales and profit margins.
Pay equal attention to foreign trade and domestic sales
Qingdao Yuanfeng Industrial Co., Ltd. is a typical foreign trade enterprise. All its products are exported abroad. In 2019, the company’s annual output value was US$30 million. Starting from the second half of last year, in response to the impact of the international financial crisis, the company quickly launched the domestic sales market, established a sales team specifically responsible for the domestic market, and also set up a team of designers to design products suitable for the domestic market. At the Canton Fair, more than 90% of the company’s exhibited products were newly developed and designed. The novel and unique products attracted a steady stream of domestic and foreign merchants, brightening the company’s prospects in both foreign trade and domestic sales markets.
Recent market operations show that Yuanfeng Industrial’s “two-legged” approach has won the market. The person in charge of the company said: “Our products have received a very good response in the domestic market, because foreign customers have more demanding requirements. Our product quality and workmanship are very good, and it is more cost-effective to sell domestically.”
“All large and small orders” are accepted
Due to R&D and management cost considerations, some textile companies only accept large orders and disdain small orders. Qingdao Textile Union Yinlong Company is just the opposite, accepting all orders no matter how big or small. Faced with the severe foreign trade situation, the “small batch, multi-variety” strategy implemented by Textile Federation Yinlong has provided the company with a rich reserve of product types, causing orders to rise instead of falling.
“Small steps can make you run fast.” The person in charge of the company said that the company is currently operating at full capacity, and sales have not only not declined, but also increased by 30% compared with the same period last year. It is also providing fabrics to domestic first-line well-known clothing brands such as “Septwolves”, “Jiu Muwang” and “Jinba”. Recently, the company has invested in 196 new air-jet looms, embarking on a path of expansion against the trend. Now, the company’s production workshops are humming with machines, and there is no sign of depression at all.
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