Taipei, Nov. 13 (CNA) Manufacturers in Taiwan’s textile industry recently said they pinned their hopes on the upcoming FIFA World Cup to boost sales, which have been hit by weak demand amid the inflationary pressure.
As the world’s most-watched sporting event, the FIFA World Cup could drive up demand for soccer jerseys and accessories, makers, some of which are major suppliers to global sportswear companies, have said. .
The World Cup, scheduled for November 20 to December 20. 18 in Qatar, is expected to attract a record 5 billion viewers worldwide, creating hundreds of billions of dollars in business opportunities for World Cup product suppliers, according to the International Federation of Football Association (FIFA ).
The Taiwanese manufacturers, however, said their projected increase in sales could vary depending on the performance of their customer-sponsored soccer teams.
“The customers you supply are a big factor,” a New Fibers Textile representative said, predicting a significant boost in sales if customer-sponsored teams like Nike and Adidas reach the top five at the World Cup.
Far Eastern New Century (FENC) also expressed optimism about sales of its products ahead of the World Cup.
The company said interest in its products could be high this year as it works with Adidas and environmental group Parley for the Oceans to make jerseys from marine plastic waste.
Currently, seven of the nine teams that will wear the special shirts have reached the tournament’s main draw, FENC said, citing Germany, Japan, Spain, Argentina, Mexico, Belgium and Wales. .
Eclat Textile Co., Ltd., a supplier to Nike, Lululemon and Under Armour, was more cautious about FIFA’s effect on sales.
While the event could help revive sales in the textile industry, the company said, a major market boost would depend on monetary policies adopted by countries like the United States to curb inflation.
Other apparel makers predict the sector won’t see a significant improvement in sales until the second quarter of 2023, after their customers clear inventory.