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Chen Henry, Honorary President of the Hong Kong Textile Industry Association, noted that since the global financial crisis began, numerous small-scale or poorly managed manufacturers have been forced to shut down, leading to a significant reduction in the overall number of suppliers. Despite this, the current situation remains highly favorable for companies that continue operating, particularly large-scale manufacturers, as the decline in supply has outpaced market growth.
Thanksgiving and Christmas remain peak seasons for retail sales in Europe and the United States. Even with economic challenges, many Western retailers are still placing extra orders with Hong Kong suppliers, accepting a 5% to 10% price increase. The demand from the U.S., Europe, and Japan for urgent orders has also risen sharply.
Chen Henry’s company primarily produces ready-made garments for export to the U.S., Europe, and Japan. While the number of orders this year was initially expected to remain at last year’s level, recent months have seen an unexpected surge, resulting in double-digit growth in shipments compared to the same period last year.
However, Chen emphasized that manufacturers must carefully adjust their order volumes based on their production capacity. Rushing to take on too many orders can lead to missed deadlines, forcing companies to switch from sea freight to air freight, which significantly increases costs and may result in losses. Additionally, hiring more staff during the end-of-year period is challenging.
The ex-factory prices have continued to rise. In March, Guangdong Province raised the minimum wage by over 18%, and cotton prices have recently surged again. Combined with factors such as currency appreciation, product price increases are now inevitable. Previously, customers only asked for lower prices, but now, the company is facing the reality of being able to raise prices by 5% to 10% for additional orders.
Industry experts predict that high cotton prices will persist after the New Year, and apparel prices are expected to rise this year. Wang Qianjin, chief editor and senior analyst at China's No. 1 Textile Network, said that the increase in clothing prices will likely stay within a reasonable range of 20%. However, the market is becoming increasingly polarized—popular products are harder to raise prices on, while personalized brands and manufacturers have more pricing flexibility.
October 10, 2025