Mr Lim Hng Kiang, Minister for Trade and Industry, at the Opening of Blueprint 2012

Speech by Mr Lim Hng Kiang, Minister for Trade and Industry, at the Opening of Blueprint 2012, Thursday, 17 May 2012, 9.30 AM, Suntec Singapore

,
President of the Textile & Fashion Federation

Mr Mark Lee,
Chairman of Blueprint 2012 Steering Committee

Distinguished Guests,

Ladies and Gentlemen,

Good morning. It is my pleasure to welcome all of you from the fashion industry to the opening of Blueprint 2012. I am delighted to see so many of you gathered here to explore new trade opportunities and make new business contacts. This year’s Blueprint is especially meaningful for us as we see a new collaboration between Blueprint with The Brandery Asia, the Asian edition of a Barcelona-based trade show.

In recent years, we are seeing a burgeoning Asian consumerism trend. A case in point – in 2011, total consumer expenditure in Asia Pacific for apparel and footwear amounted to US$7.8 trillion[1]. This has led international fashion players to look to Asia as an export market, as well as a new sourcing destination for promising fashion labels.

Growth of Singapore’s textile & apparel industry

For Singapore, our textile and apparel industry has seen a significant evolution over the past two decades. What started off as a manufacturing-based industry is now an industry that centres on retail experience, innovation and design creativity. Today, the industry comprises 500 manufacturers and 4,500 wholesalers and retailers. Together, they generate S$7 billion in operating receipts. Beyond the domestic market, Singapore fashion labels are now actively showcasing their designs at international platforms, such as Paris Fashion Week and Seoul Fashion Week.

In this regard, Singapore is well-placed to capture the world’s interest in Asian fashion due to our strategic location and cosmopolitan cityscape.

Staying competitive in the global marketplace

Despite these achievements, the industry and its companies must stay alert, constantly review their strategies and consider different avenues for long-term growth. This is especially so in the current uncertain climate of the global economy. Companies need to stay abreast of trends and adopt new strategies to seize new business opportunities.

Knowing your customers is also key to growing your businesses. Today, consumers are well-travelled and well-informed of global and micro trends. They are also internet-savvy and are increasingly going online for fashion purchases. We have ASOS and NET-A-PORTER, which are established international websites that position themselves as premier online fashion retailers and one-stop fashion resources, with a worldwide customer base. We also see international brick-and-mortar fashion retailers, such as H&M and ZARA, embracing online platforms for greater customer reach.

The local fashion industry must therefore constantly pursue fashion knowledge and technical skill sets in order to sustain growth. To this end, I would like to commend TaFf for steering the local fashion and textile industry to a new frontier. In 2009, TaFf’s training arm developed the Workforce Skills Qualifications (WSQ) framework for textile and fashion technology, with support from the Singapore Workforce Development Agency. Since then, around 1,600 employees have been trained. Many of these employees are professionals, managers and executives of the fashion industry. There are also more than 20 different courses tailored for the industry. These have benefited companies such as Tung Mung International, Robinsons & Co, Tangs, SL Global and Bodynits. In addition, TaFf works with agencies like SPRING Singapore on talent development and capability upgrading. Some of these initiatives include Audi Star Creation and fashion design incubator PARCO NEXT.

Blueprint – the platform for fashion labels to go global

To our local export-ready fashion designers, Blueprint presents another effective avenue to propel them across borders. Blueprint is now in its third edition, and I am happy to note its steady progress.

The event has seen a two-fold growth in the number of exhibitors since it was first held in 2010. This year’s Blueprint sees greater exhibitor participation by local and international exhibitors from Indonesia, Hong Kong, Korea, Japan, UK and US. There are more than 200 international trade buyers from international stores, such as Seven New York, Lane Crawford, Lotte and Triple-Major. We also see more online stores, such as ASOS and mywardrobe.com, joining us.

IE Singapore, the agency driving Singapore’s external economy, has been working closely with Taff to raise the profile of Blueprint and Singapore’s design talents to international buyers. Blueprint has opened up possibilities and opportunities by providing young, emerging labels with access to international buyers and stores. Home-grown designers like Ling Wu and Mae Pang have successfully secured stockists in Hong Kong, Korea and Perth. Even regional designers, such as Second Issue from Thailand, have exported their designs as a result of participating in Blueprint last year.

Conclusion

On this note, I would like to congratulate TaFf and its partners for initiatives, such as Blueprint, to anchor Singapore as Asia’s fashion trade gateway. I am optimistic that more promising Singapore, Asian and international labels will come to see the value in participating in Blueprint. I wish everyone a good time ahead. Thank you.

[1]

Source: Euromonitor Global Clothing & Footwear Report Nov 2010. Asia Pacific refers to China, Hong Kong, India, Indonesia, Japan, Malaysia, Pakistan, Philippines, Singapore South Korea, Taiwan, Thailand, Vietnam.