Wednesday, June 17, 2009

Filipino Fashion Industry Gets Slimmer

Amidst global recession, every sector is indeed affected, with varying extent. The highly bombarded areas are the "luxury" sectors like tourism, appliance/automobile and textile among the many.

Regardless of race, we prioritize our basic needs first. We find alternatives in addressing these needs. Filipinos for one, recycle old clothes and stuffs to make through. No wonder "ukay-ukay" or imported used clothings are in. They would rather pay less but demand more. Consequently, companies close down.

In the local city of General Santos, 2-3 rural banks chose to shut down their operations. While the government and other concerned agencies and communities find measure to counteract the effects of recession including business insurance, the poverty thresholds continue to rise up.

Somehow, the fashion industry can find ways to reduce cost of operations, materials and labor, tax holidays or incentives without sacrificing quality.

Truly, battling recession must be a global effort.