ICC, Thailand’s most reputed fabrics manufacturer is very optimistic about the amount of business the recent AFTA, ASEAN Free Trade Agreement, would bring for the company. AFTA came in force on 1st January 2010 and under the agreement all the goods that will be traded amongst the ASEAN nations will be duty free as in no duties will be levied on movement of goods from one ASEAN nation to another.
ICC plans to increase its fabric as well as apparel exports to other ASEAN nations by a considerable percentage so that they account for more than 10 percent of the total sales. The major brands under the canopy of ICC are Arrow, BSC, Maximus, St Andrew and Cool Metropolis. Currently, only two if its brands are exported in the region namely, Arrow and BSC.
The company plans on exporting other brands as well with main onus on Cool Metropolis, a premium men’s wear brand that appeals more to the younger generation that like it for its casual style and designs. It apparently tested the brand in the market for two years before officially launching it in the market a year back and going ahead with its marketing.
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It even plans to increase the marketing budget to Bt50 million and has set up an international business unit to manage its business in the region. Though the political turmoil and the recent terrorist attack in Bangkok do prove to be setbacks in expanding business but then one cannot be expected to wait till an eternity for the problems to be solved.
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