Investors paradise - Chile apparel & textile

It is evident that the present path of global textile development wouldn't have been sustainable in the longer term if the progress was confined to some countries of the world. The global leaders in textiles have made sure that each part of the world contributes to the progress registered by the textile sector so far. Some countries provide the raw materials, some provide the technology, some have cheap labor, whereas some countries are leaders in designing and creating new fabrics.

The enormous potentials of the market and technological innovation have been rightly tapped by the textile industry. New ideas and strategies are being developed to ensure improved opportunities for the growing countries across the world that can be reconciled with the overall development of the sector. A new vision and path for world textile development have been conceived and adopted to surmount the challenges ahead. Chile has been a part of the global textile sector for a long time, but with a better understanding of the global retail market and support from the government, it has managed to become one of the top textile and apparel suppliers and manufacturers in the world.

The year 2014 marked a new beginning for Chile's textile sector, with Chile occupying the first place in the A.T. Kearney Global Retail Development Index (GRDI). The country has managed to outdo some other emerging economies that have carved a niche in the retail sector for apparel and textiles, including Colombia, Uruguay, Brazil, Peru, Costa Rica, Mexico, and Panama. With the progress made by Chile in the textile retail sector, Latin America continues to show strength as a regional retail growth market.

The luxury brands that have established stores in Chile have registered impressive sales. Though the market in Chile is smaller in contrast to the huge markets of Brazil or Mexico, Chile is politically and economically stable compared to other Latin American countries. This stability has led to a considerable rise in consumer and investor confidence and created a favorable environment for retail.

Another development that has gone in favor of Chile is that retailers from around the world are continuously entering, investing, and gaining ground in a highly competitive textile industry. The key trends in Chile's retail textile and apparel sector include the growth of departmental stores, as fashion-conscious customers are on the rise. In fact, in Chile, department stores are now entering online and m-commerce. Among the luxury brand stores, GAP is the recent entrant in the Chilean market, and some brands from Holland and France are also finding a way into the country's textile and apparel sector.

Many manufacturers and retailers who have opened apparel stores in the country a few years ago have a huge experience of operating retail networks in Argentina, Peru, and Colombia. Chile is a stable and trusted testing platform for many manufacturers, and an entry into Chile's textile and apparel market guarantees an insight into the market of neighboring countries. Thus, Chile is considered a safe haven to experiment and test the acceptance of consumers in general. However, the Chilean textile and apparel market is years ahead of vanquishing the initial and also grave problems and barriers easily, unlike the other Latin American markets.