Bulgaria was one of Europe’s fastest growing apparel producers in 2006. However, most of the textile and apparel sector is in need of investment. There is a handful of modern manufacturers, many of whom are owned by foreign companies. But the vast majority of companies are small to medium sized enterprises which are already operating at full capacity. These firms face a number of obstacles to growth, most notably a lack of added value and a limited supply of short-term finance.
Now that Bulgaria is a member of the EU, the industry faces a number of opportunities for development, spurred by: easier access to the EU, its largest export market; harmonised legislation with the EU; improved opportunities for training and networking; a fixed exchange rate against the euro; reductions in the grey economy, in working practices and in corruption; better availability of short-term finance for capacity expansion and modernisation of technology; improved attractiveness to potential investors; an increase in the number of jobs; and higher labour productivity. However, the transition into a bona fide EU member state could result in the closure of manufacturing companies which are unable to afford the investments needed to harmonise standards with the rest of the EU. If these risks are not addressed by the government and manufacturers, the development of the sector could be hampered.
Seven examples of successful Bulgarian textile and clothing companies are Ariston S, Brod, Mak, Markam, Miroglio Bulgaria, Top Man, and Veni-Style. Ariston S is a women’s clothing manufacturer and exporter with two brands in Bulgaria, “A’ S” and Ariston S, and one brand in Poland—Bobo Zander. Brod is one of most technically advanced and highest quality knitwear companies in Bulgaria. Mak is the only fabric producer in Bulgaria which provides special textile finishes. Markam is a large producer of high quality women’s garments in northern Bulgaria. Miroglio Bulgaria, one of the most important producers in south-eastern Europe, is involved in spinning, weaving, knitting, dyeing, printing and finishing. Top Man specialises in men’s tailored garments on a cut-make-and-trim (CMT) basis for export to Europe. Veni-Style, one of the best known women’s clothing brands in Bulgaria, produces apparel for its own label, Etere, and for export.
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TABLE OF CONTENTS
SUMMARY
POLITICAL AND ECONOMIC PROFILE
INDUSTRY OVERVIEW
- Location of textile and clothing companies
- Employment
- Wages
- Grey market economy, illegal trade and unfair business practices
- Labour productivity
- Health, safety and environmental regulation
- Production trends
- Industry structure
- Retail distribution channels
- Investment
- Foreign direct investment (FDI)
- International trade
- Imports
- Exports
BULGARIAN TEXTILE AND CLOTHING MANUFACTURERS
- Types of textile and clothing companies
- Ariston S
- Production
- Products and markets
- Employment
- The future
- Brod and Co
- Products and markets
- Production
- The future
- Mak
- Company development
- Products and markets
- Markam
- Products and markets
- Miroglio Bulgaria
- Company development
- Production
- Production capacity
- Investment
- Top Man
- Production and markets
- Human resources
- Production facilities
- Veni-Style
- Company development
- Production facilities
- The future
OUTLOOK FOR THE FUTURE OF THE SECTOR AS A MEMBER OF THE EU
- Factors favouring the development of the textile and clothing sector
- Geographic position
- Reduced hold-ups at customs and lower costs of exports
- Harmonised health, safety and environmental regulations
- Improved opportunities for training and networking
- Fixed exchange rate
- Reduction of grey economy and illicit working practices
- Improved availability of short-term finance
- Improved attractiveness to potential foreign investors
- Barriers to the development of the textile and clothing sector
- The migration of skilled workers, or a "brain drain"
- Clothing prices at a maximum
- Reliance on textile imports
- Outlook
LIST OF TABLES
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