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Chen Henry, Honorary President of the Hong Kong Textile Industry Association, highlighted that since the onset of the financial crisis, numerous small-scale or poorly managed manufacturers have been forced to shut down, significantly reducing the number of suppliers in the market. Despite this decline, the situation still presents a favorable environment for those businesses that remain operational—particularly large-scale manufacturers—since the drop in supply has outpaced market growth.
With Thanksgiving and Christmas approaching, the traditional peak season for retail sales in Europe and the US is upon us. Even amid economic uncertainty, many Western retailers are placing extra orders with Hong Kong-based suppliers, willing to pay a 5% to 10% premium to secure timely deliveries.
According to Chen, his company primarily produces ready-made garments for export to the US, Europe, and Japan. While the number of orders this year was initially expected to match last year’s level, recent demand has surged, leading to double-digit shipment growth compared to the same period last year.
However, Chen also emphasized that manufacturers must carefully manage order volumes based on their production capacity. Overloading operations could lead to missed deadlines, forcing companies to switch from sea freight to air freight, which dramatically increases costs and may result in financial losses. Additionally, hiring more staff at the end of the year proves challenging, further complicating production schedules.
Rising ex-factory prices are another major concern. In March, Guangdong Province raised the minimum wage by over 18%, and cotton prices have recently spiked again. Combined with factors like currency appreciation, price increases have become inevitable. Previously, clients only requested price reductions, but now, Chen’s company is forced to implement 5% to 10% price hikes for special orders.
Industry experts predict that high cotton prices will persist into the new year, driving up clothing costs. Wang Qianjin, chief editor and senior analyst at China's No. 1 Textile Network, noted that this year’s price increases are expected to be within a reasonable range of 20%. However, the market is becoming increasingly polarized—popular products face pricing resistance, while niche brands and personalized manufacturers have greater flexibility in setting prices.
As the industry navigates these challenges, adaptability and strategic planning will be key to maintaining competitiveness in an evolving global market.
October 10, 2025