Henry Tan, keynote speaker at 2012 Prime Source Forum
Luen Thai CEO Henry Tan spoke at the Prime Source Forum 2012 held from March 28-30 in the Hong Kong Convention and Exhibition Centre.
Prime Source Forum is an annual event bringing together senior executives from around the world to discuss the challenges and opportunities industry players face in the apparel supply chain.
Mr. Tan was the keynote speaker during the afternoon session of the forum on March 29. Joining him in conversation was Ms. Leonie Barrie, Managing Editor of Just Style.
"Instead of searching for the next China, the important thing is collaboration. If there was better collaboration between ourselves and our customers, it may be easier to reduce the initial markup than trying to look for the last penny or the lowest wage country. Our price has now dropped to a level where it cannot go down any more" shared Mr. Tan in the forum.
He also noted that despite rising labor costs, the production of clothes that are in quick response to the market will remain in China while production of clothes that take up longer lead times will be moved to other Asian centers.
Big names in the apparel and footwear industry also sent representatives at the forum. They include adidas, Ann Taylor, Columbia Sports, Cortefiel, Esprit, Hugo Boss, Kmart, Quiksilver and Ralph Lauren.
Mr. Tan at The Textile & Garment Industry Seminar
Meanwhile, Mr. Tan also spoke at The Textile & Garment Industry Seminar: Landscape, Survival & Opportunities last March 30. The event was organized by The Textile Council of Hong Kong, The Hong Kong General Chamber of Textiles Ltd., The Hong Kong Polytechnic University and The Textile and Garment Information Centre.
He shared his insight on the survival and opportunities for Hong Kong manufacturers as well as gave updates on the China manufacturing side.
In his speech, Mr. Tan discussed the difference in wage increase between China and other Asian counterparts; responses from apparel brands towards the rising labor cost in the Mainland; the China + 1 strategy; as well as how Hong Kong can reposition itself to seize the opportunities in today’s apparel landscape.
He also commended the Hong Kong Polytechnic University (PolyU) for its academic training and research dedicated to the textiles and clothing industry in Hong Kong. In addition, the Institute of Textiles and Clothing (ITC) of PolyU is well established and has been internationally recognized as one of world class research centers, which also holds fashion shows and exhibitions that serve as a perfect platform for the students to showcase their flair and talent.
Henry Tan (right), CEO of Luen Thai Holdings Ltd. gives keynotes during the conversation with Ms. Leonie Barrie (left), managing editor of Just Style at the Prime Source Forum 2012.
Henry Tan, CEO of Luen Thai Holdings Ltd. speaks at the Textile & Garment Industry Seminar.