Local textile market to decline until 2012

“The [global] crisis has already had a negative impact, with many companies no longer having orders and forecasting a 10-15 percent drop in industrial production. I believe that stabilization will come after 2010,” said Maria Grapini, General Manager of Pasmatex textile producer, also President of the Light Industry Employers Union (FEPAIUS).

However, the General Manager of Iasitex producer, Gheorghe Caescu, has a more pessimistic view. “Market stabilization in 2010 is an optimistic scenario, but not a realistic one. The market will keep falling. I think that 2010 will be a very difficult year for the textile market. It will only stop falling in 2012, when it will stabilize. But, to be sure, not at the same level [as before],” Caescu added.
Ion Stratila, General Manager of another major player in the field, Rifil Savinesti, said that the market will rebound “when governments have implemented projects for overcoming the crisis.” Stratila added that the market has dropped significantly compared to 2007.

The main reason for the market decline is the fact that consumers are opting for imported textile products, some 75 percent. “There is generally preference for cheap products, except for a small number of buyers who prefer brands,” Grapini said.