Fashion accessory sector braces for market rebound

CEBU, Philippines - Anticipating a market rebound, the fashion accessory manufacturers in Cebu are bracing themselves for the expected surge in demand by preparing for the 2nd “Bijoux Cebu,” which aims to strengthen Cebu’s position as Asia’s destination for Green Jewelry.

Amid the global recession, fashion jewelry exporters through the Fashion Accessories Manufacturers and Exporters (FAME) are spending about P5 million to organize the high-end “Bijoux Cebu” exhibition to attract more quality foreign buyers are well as local consumers and lovers of fashion accessories.

The Philippines will once again toughen its niche as the “green producer” of fashion jewelry products in the world, making this year’s “Bijoux Cebu” the first green jewelry show in Asia.

Aside from beefing up the event organizing, marketing and promotion budget for this year,

Exhibit Chairman Butch Carungay said FAME has also prepared incentives for foreign buyers to stimulate their interest to attend the show in September.

The perks include a US$200 rebate for the first 100 to register, and buy-two-plus-one overnight accommodation, which is in partnership with Shangri-La’s Mactan Island Resort and Spa, where the exhibit will take place.

Compared to last year’s total of 147 buyers, this year, Carungay said the organizing committee expects to attract at least 200 foreign buyers, excluding the walk-in and local consumers to the show.

This early, there are already 70 foreign buyers who have registered to the show, Carungay is optimistic that this year, the exhibit will gain the interest of different international buyers, as the market has started to pick up.

To be held this coming September 26 to 28, 2009, Bijoux Cebu is the counterpart of CFIF’s (Cebu Furniture Industries Foundation Inc.), CebuX, and is a trade show promoting the Philippine fashion accessories to foreign buyers.

Bijoux Cebu is strongly promoting the “fashion with conscience” advocacy, wherein products are designed and are made with strict environmental protection.

“The global green movement is a very good fit for Philippine fashion accessories. We have been making green jewelry for over 30 years, using the vast natural resources found in our country, long before ‘eco-friendly’ became popular,” said FAME president Janet Chua.

Thus, amid the threatening global economic recession, the fashion accessory industry in Cebu has maintained its dynamism, although the industry recorded a slight slowdown, due to the weakening demand from the United States.

However, because of the Cebu or Philippine-made fashion accessory products that have been positioned as eco-friendly items, the industry has been able to brace the probable “ugly” effect of the global downturn.

This year’s theme is “International Green” and will showcase products from the 2010 Spring-Summer Collection. The collections are inspired by cultures spanning five continents—Asia, Europe, North America, South America and Africa.

Last year, the “Bijoux Cebu” generated a total of US$1.9 million in sales, and contributed an estimated P6.3 million to domestic economy, assuming that per foreign buyer spends at least P300 a day.

Bijoux Cebu is a trade-only exhibition that showcases an extensive collection of fashion accessories, costume jewelry, bags, sandals, components—focusing on the highly popularized trend of eco-fashion.