Greeks paving a way in their textile industry recession

The Greeks are trying to find their way to overcome the downslide in its textile and clothing industry.The prime reasons for their downslide is improper tax policy,loss of traditional industries and most importantly no secret concept to expand.

Athens had decided to set a uniform tax rate of 26 percent. Greece’s business community is ,however,never sure of how much tax they would be asked to shell out, and this hinders companies from effectively planning their investments and costs.

Yet,a startup from the city of Thessaloniki is on a success path. Marianthi Milona takes a look at the firm’s concept for success.

In fashion designer Christos Bibitsos’ outlet, however, sewing machines are in full swing. Twenty women employees working here make everything from sewing patterns to finished men’s garments. Everything is made on-site at “Modus Vivendi.

Christos Bibitsos says that Bibitsos is at the moment a very popular designer of men’s underwear in Greece, and he has been present on the market for over 20 years.The history of the Greek textile industry is a sad one. And this despite the fact that there has traditionally been no other fabric better than Greece’s, he added, stressing that “right now, the trend of companies relocating to other low-cost countries appears to be irreversible.”

For over 50 years, Greece’s textile and clothing industry had maintained a considerable lead over its competitors from other countries. Orders came from across Europe, be it for nylon fabrics or valuable cotton textiles. A clothing industry got established, particularly in northern Greece, in the late 19th century.

In recent years, however, special EU programs such as offering tax breaks for the industrialization of economically weak countries in the region such as Bulgaria and Romania had led to many Greek companies relocating their operations to neighboring nations. The development caused a total collapse of Greece’s textile market.

The Greek brand’s revenue has increased tenfold over the past five years, and its sales over the Internet, in particular, is seeing rapid growth. But the “Modus Vivendi”’s business with German wholesale and retail outlets has been anything but smooth.

Bibitsos underlines that while business with English, French, US and Australian retailers is running smoothly, that with German ones lags behind.Consumers in Germany, in contrast, are in first place when it comes to placing orders on the Internet, the fashion designer noted, wondering what the reasons behind the German retailers’ actions could be.

There is, however, an intense price war taking place on the German retail market and there is little consideration there for Bibitsos’ concerns.

Recent Posts

Virgio, Ola Electric offer sustainable festive deliveries

Sustainable fashion brand Virgio has partnered with Ola Electric to offer eco-friendly doorstep deliveries of its products during the festive…

2 mins ago

Kingpins pop-up highlights denim innovation

Kingpins Hong Kong hosted its second annual pop-up event at the DX Design Hub, putting the spotlight on denim innovation…

6 mins ago

AATCC, TAI partner to strengthen Indian textile industry

The American Association of Textile Chemists & Colorists (AATCC) has signed a Memorandum of Understanding (MOU) with The Textile Association…

10 mins ago

Under Armour partners to develop microfibre release test

Under Armour, Hohenstein and PPT Group, has introduced a standardised method to measure microfibre release from textiles during simulated washing…

1 day ago

RISE for Impact advances work standards in the cotton supply chain

The RISE for Impact project is collaborating with farmers in the cotton supply chain to promote decent work by integrating…

1 day ago

Cosmo first launches advanced PPFs for vehicle exteriors

Cosmo First has unveiled its new range of Paint Protection Films designed to protect vehicle exteriors with advanced features ensuring…

1 day ago