How a silk manufacturer in China survives in a shrinking global market
Zhejiang province’s silk garment production chain – from silkworm farmers to the finished article – has been in existence for thousands of years, but it’s lost ground in recent decades. The manufacture of silk, one of China’s first exports, has declined due to changing luxury fashion tastes. The province’s silk exports fell 13.1 per cent year-on-year to US$373 million in the first five months of the year.
Hong Kong company High Fashion Garments in Hangzhou, Zhejiang province, has adopted new technology to face the challenges. “We can sell clothes at US$45 [a piece] on average nowadays compared with US$10 about six or seven years ago,” said company director Hilda Leung.