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Consortium to Create E-marketplace for Textile, Apparel
Eight major Hong Kong clothing manufacturers, Cable & Wireless HKT, iASPEC Technologies announced Thursday in Hong Kong that they agreed to form a consortium to create an e-marketplace for the global textile and apparel industry totaling 550 billion US dollars.
The consortium will work with the online service provider TexWatch Inc. which has already hosted the world's largest textile and apparel information gateway.
By adding the industry expertise, technical capabilities and financial support of its members, the consortium aims to have a global textile and apparel e-marketplace up and running by the end of September this year.
The consortium is a solid base for apparel souring and textile procurement, said Vincent Chan, chief executive officer of TexWatch Inc. "Together we are going to kick-start a new era of textile and apparel trade," Chan added.
The eight leading Hong Kong clothing manufacturers in the consortium own more than 200 factories and influence over 1,000 others worldwide through subcontracting relationships.
"This joint effort reinforces our collective vision and leadership in the textile and apparel field," Kenneth Wang, managing director of Sterling Products and convener of the consortium told a media briefing.
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