Downturn sparks review rethink

MELBOURNE: The Council of Textile and Fashion Industries of Australia (TFIA) has issued a stark warning that the global downturn could necessitate a rethink of the Government's TCF Review recommendations. The review document - titled 'Building Innovative Capability' and authored by Professor Roy Green - stated that the TCF industry should build competitive advantage through innovation at enterprise level.

However, according to TFIA executive director Jo Kellock, the uncertainty engendered by current global market conditions meant that the amount of funding support directed to industry and the nature of the recommendations themselves were now of critical importance to the future survival of the TCF sector.

"As retailers become risk averse and constrained by liquidity issues, designers are impacted with cancelled orders and increased costs.This will eventually flow through to manufacturers, wool and cotton growers, and the entire supply chain. And unfortunately exporters will lose exchange rate gains if there is a world recession."

An industry forum highlighting TFIA membership's concerns - to be held on October 23 from 4.00pm to 6.00 pm at Lifesaving Victoria Headquarters, Sandridge Beach, Port Melbourne - would see Professor Green address TCF stakeholders directly about his recommendations.

"The TFIA, as the industry's peak body, calls on all TCF stakeholders to attend the forum and highlight their circumstances. It's time for solidarity of action and attention to detail," Kellock said.