Eclat Textile Co (儒鴻) chairman Hung Chen-hai (洪鎮海) yesterday gave an optimistic outlook for the local textile industry this year due to recovering demand.
The industry is likely to see revenues increase next month, Hung said at the Taipei Innovative Textile Application Show (臺北紡織展).
The industry’s revenue in the second half of next year is forecast to grow compared with the same period last year, as most global brands are likely to finish digesting excess inventories, Hung said.
Far Eastern New Century Corp (遠東新世紀) chairman Douglas Hsu (徐旭東) was also upbeat about sales, saying a booming functional apparel market is boosting the industry.
In Taiwan, functional wear accounts for just about 10 percent of the market, showing there is a lot of room for growth, he said.
Far Eastern’s newly launched smartwear collections, using the latest sensor technologies, can monitor the wearer’s heartbeat and record workout data, Hsu said.
Taiwanese-made functional fabrics have a 70 percent global market share and smartwear is likely to be manufacturers’ next focus, a report released by Taiwan Textile Research Institute (紡研所) showed.
The institute said that local manufacturers should work on products for wearable devices and medical use and develop a complete smartwear supply chain.
In the first eight months of this year, Taiwan’s textile exports fell 10 percent to US$6.6 billion, Taiwan Textile Federation (紡拓會) data showed.
Fabric exports dropped 10 percent to US$4.5 billion, with a 67 percent share of the nation’s total textile exports, the data showed.
The nation’s two biggest textile manufacturers, Eclat Textile Co and Makalot Industrial Co (聚陽) have both seen a drop in revenue compared with last year, dragged down by the slower demand from global clients.
In the first nine months of this year, Eclat’s aggregate sales fell 3.26 percent to NT$17.68 billion (US$556.5 million) from a year earlier, while Makalot’s revenues declined 3.77 percent to NT$17.08 billion.
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