Lithuanian textile and apparel industry struggles with an operation in a small market, it is more difficult to sell in such a particular market, the batches of products are smaller, thus there’s a need to develop new outlets of trade and expand the geography of trade. That’s why Cluster Development of LATIA Export is building these new ways for the members of the Cluster and other industry participants.
Cluster Development of LATIA Export will try to develop new trade passages in the United Kingdom, Germany, France, China and United States.
Representatives of Cluster member companies: “We are looking forward to becoming known in our target textile markets, leaving a footprint in global textile and apparel trade”.
The global apparel retail market is forecast to reach $1,652 billion in value in 2020, an increase of 31.8% since 2015. The compound annual growth rate of the market in the period 2015–20 is predicted to be 5.7%.
This text has been prepared as part of the project Cluster LATIA Export Development, funded under Measure 3 of Priority 3 “Promotion of Small and Medium-Sized Business Competitiveness” of the European Union Funds Investment Operational Program 2014-2020. 03.2.1-LVPA-K-807 Business Cluster LT Project Financing Terms Description Nr. 2