US crisis threatens Thailand's underwear exports
Submitted by William Kaelin on Sat, 10/11/2008 - 03:50.
Bangkok - Thailand's largest lingerie-manufacturer has refocused on the domestic market amid predictions that US demand for women's underwear will feel the pinch as a result of the financial crisis, news reports said Saturday.
"We can't rely much of the export market because the crisis will make other countries suspend orders," said Amnuay Bumroongwongtong, managing director of Thai Wacoal - the country's largest manufacturer of luxury lingerie.
Amnuay said Thai Wacoal had yet to receive any cancellations of orders but he predicted the US market for lingerie would "dry up" in 2009, reported The Nation newspaper.
About 30 per cent of the company's revenues come from exports, with the top markets including the United States and Japan.
Thai Wacoal will concentrate on the domestic market, launching new collections for its loyal Thai customers who are less price conscious about their underwear. (dpa)
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