Turkey Textile Orders Pick Up on Weaker Lira, Sabah Reports
Turkish textile producers’ order- intake has risen by 20 percent as a weaker lira makes prices more attractive and the crisis in Europe makes brands wary of ordering large quantities of goods from Asia, Sabah reported.
The 12 biggest clothing brands with offices in Turkey will place $5 billion of orders with Turkish producers this year, including $1 billion from Inditex SA (ITX)’s Zara, the newspaper said, citing Cem Negrin, the president of the Turkish Clothing Industrialists’ Association.
Europe’s crisis has given Turkish producers an advantage over Chinese competitors as European retailers seek more flexibile production and smaller order sizes, Sabah said, citing Turkish clothing exporters association chief Ismail Gulle. Brands including Hennes & Mauritz and Next are in talks about production in Turkey and the country may regain some of the customers it’s lost since 2009, Sabah said.
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