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Colombiamoda, Colombia´s Fashion Week was inaugurated with optimism

  • The President of the Republic, Juan Manuel Santos, shared Inexmoda´s call to optimism for the recovery of the sector, announcing support measures.
  • The governor of Antioquia, Luis Pérez Gutiérrez, and the mayor of Medellín, Federico Gutiérrez Zuluaga, shared the President’s call to the recovery of the economy and local jobs.
  • He reported over $66,000 million COP (approx. USD $22 million) more in Bancoldex credits, and more severity in the struggle against contraband, which affects Colombian jobs and business sales in the sector.

July 2017. The President of the Republic, Juan Manuel Santos Calderón, opened the doors of the 28th edition of Colombiamoda 2017, Colombia’s Fashion Week, where he invited entrepreneurs of the sector to “look at the future with hope”.

“We are adjusting our sails to reach our port of destination, although there may be a bit of turbulence,” said President Santos. With that statement he concurred with Inexmoda´s President, Carlos Eduardo Botero Hoyos, in calling the business community of the Fashion System to optimism towards a better performance of the sector and of the economy in the second semester of this year.

The Head of State announced three concrete topics in which the Government is working to offer better conditions for competitiveness, and recovery of production and sales in the textile-manufacture chain.

On one hand, he insisted that he will continue the upfront war against contraband, which he named “Colombians’ employment enemy”.  He brought out that the Anti-contraband Law has already apprehended illegal merchandise in the textile-manufacture sector in the amount of $125.000 million COP (almost USD $42 million), as well as opened 1,200 criminal proceedings in order to apply the sentences dictated by that law.

Likewise, he announced new Bancoldex credits for the sector for $66.000 million COP (approximately USD $22 million) during the second semester of the year, which will bring the total of credits delivered by this entity to $900.000 million COP (approximately USD $300 million) to 60,000 companies from 2010 to this year–capital which has stimulated exports considerably.

Thirdly, President Juan Manuel Santos announced that the country is moving forwards with an update of the current commercial agreement with Mercosur (Brazil, Argentina, Uruguay, and Paraguay) that will allow the sector to export 660 products with more flexible origin standards and 0 tariffs.

The governor of Antioquia, Luis Pérez Gutiérrez, and the mayor of Medellín, Federico Gutiérrez Zuluaga, accompanied the Head of State in this act, and also shared the call to optimism which should be maintained by the business community of the sector.  “This trade show is a source of pride for Medellín and Colombia, and demonstrates the leadership of Inexmoda during these 28 years, with no close second”, affirmed the Governor.

In addition, Mayor Federico Gutiérrez highlighted the impact this trade show has on the economy of the city.  The presence of more than 60,000 visitors will bring the city revenue of an estimated $40.000 million COP (more than USD $13 million) in three days, and hotel occupancy upwards of 95%. “I am optimistic of the economic reality of the city in the second semester,” affirmed the local mandatary.

The President of Inexmoda, Carlos Eduardo Botero Hoyos, welcomed the 600 exhibitors from 15 countries and the 13,000 buyers from 55 countries (433 with the support of ProColombia, and among them, first-time buyers in this trade show: China, India, and Israel).

“At Inexmoda we have been, are, and will be, optimists by nature.  We know that the Colombiamoda platform has a great responsibility to help empower the business sector during the second semester of the year,” he told entrepreneurs.

Carlos Eduardo Botero confirmed his optimism in three fundamental areas. In first place,  the sustained reduction of inflation, which during first semester closed at 3.35%, and after two and a half years, again reached the range set by the Board of Directors of the Banco de la República (between 2-4%). In second place, the interest rate reduction, down to 5.75%, (up to 7.5% in January of this year), a decisive factor in stimulating home apparel use.  And, thirdly, in the rate of money exchange, above  $3,000 pesos per dollar, which is an important stimulus for the growth of exports of the sector, and for international buyers who close business deals at this trade show, buying Colombian products.

The CEO of Inexmoda called the entrepreneurs of the Fashion System to participate in the “New Game”, that is, to respond in a more precise manner to the needs of the consumers, estimating that at the Trade show there will be business opportunities for amounts between 200 and 300 million dollars.

To reach these goals, Carlos Eduardo Botero Hoyos stressed the need to incorporate innovation and knowledge, and ratified that this is, precisely, the purpose of Inexmoda, which works every day to  “link knowledge in order to empower the Fashion System,” so that entrepreneurs will turn innovation into solid businesses and secure income.