FAME readies for recovery

CEBU, Philippines - While the world’s fashion jewelry market has started to pick up after what the industry described as the “worst” downturn in the last few years, the Fashion Accessories Manufacturers and Exporters (FAME) has prepared an extensive marketing plan to maximize the recovery of market.

FAME Cebu announced the completion of its own Sector Export Marketing Plan (SEMP), which is a result of a pooled resources and expertise, to better target both existing and emerging markets, as well as to identify ways to remain competitive in an increasingly aggressive business climate.

FAME’s SEMP provides a planning framework for the short, medium and long term considering the extremely difficult market conditions taking into account the competitive landscape and consumer trends.

Although, Cebu’s fashion accessory export industry survived the difficult years with the onset of global economic recession, industry players are now being provided with much stronger foundation and institutionalize the SEMP Planning process into the regular functions of the organization.

FAME executive director Juliet B. Banogon said the implementation of the FAME SEMP will help member companies to fully understand the importance of crafting their own intensive marketing plan, to sustain, if not grow their organizations.

“SEMP provides a comprehensive framework and analysis that will enable exporters to meet the crisis in a more proactive manner and not just with a piece-meal, band-aid approach and discover opportunities the exporters have not seen before,” FAME’s statement said.

Implementing their own marketing plan, using the industry’s SEMP blueprint, will allow exporters to get ready for the next upswing by helping them to: Formulate new strategies; Maximize limited resources; Reposition their sector; Develop inspiration for synergy within the sector, or across sector; Develop an actionable implementation plan (roadmap).

The SEMP is a means of communication and inspiration for the sector as it aligns stakeholders toward a common goal and sets a realistic sector export agenda

The SEMP is a plan, ready to be implemented, which provide;    Valuable trade data and market/sector trends; Updated value chain analysis of the sector;   Export market analysis and opportunities; Market (entry) strategy; Sector export action plan and financial plan

Unlike other SEMPs, this one does not utilize an annex and all of the pertinent data and charts are included in the main body so as to facilitate the presentation and justify immediate analyses and conclusions

Meanwhile, the FAME has also announced its preparation to this year’s “Bijoux Cebu” exhibition this coming September 18-20, 2010 at the Shangri-La’s Mactan Island Resort and Spa.

Now in its third edition, Asia’s destination for green jewelry will have more exhibitors and a myriad of new innovations that will allow buyers to source and build their collections from the best that the Philippines has to offer.

In 2008, “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.