Bulgarian fashion industry - the best field for business and investments

Why Bulgaria?
Bulgaria's fashion industry has a high potential from a long-range viewpoint.

Really, in a short-range view, the current recession in the global economy has been affecting many Bulgarian companies. But however, Bulgaria's fashion industry will follow its growth in the same way as its growth in the past 20 years.

As usual, Bulgarian manufacturers continue making efforts not only to develop their own management capability, but also to maintain their permanent and reliable relationships with customers. For reference, Bulgaria's textile exports were worth €1.9 billion in 2007 and have positive trade balance of €300 million.

In 2008 the number of employees in the sector is about 155 thousand, which is about 6 percent of the total average number of employees in non agricultural business. Growth rate is stable and from a total of 16 manufacturing sectors, the fashion industry is on the fourth place which makes it part of the largest industries in Bulgaria.

Since 2000 has been a steady increase in production output of clothing and textiles and in 2008 the quantity of output is about 3.4 times more compared to 2000 and 9 percent more compared to 2007.

Advantages:

As advantages of fashion production in Bulgaria, the following can be pointed out:

• Quick response via fast delivery
• Competitive prices relative to the region
• Modern technologic equipments
• High quality
• Flexibility for large and small orders
• Highly-skilled labor force
• Consistent reliability

More than 92% of Bulgarian's manufacturing is exported within the European countries, mainly Germany, Italy, Spain, France. Beside the present business to Europe, Bulgarian manufacturers are creating new business contacts and export opportunities with U.S.A., Canada, Russia, etc.

The future:

Bulgaria is Europe's quick response solution. Bulgarian firms are rapidly developing the internal capabilities to manage all aspects of their supply chains to European partners, including sourcing, design, transport/logistics and own branding. These capabilities, combined with Bulgaria's strategically favorable location, make working with Bulgaria a critical and valuable component to every company's strategy.