40512
Italy Mulls JV in Garment Production
Economy, Business And Markets

Italy Mulls JV in Garment Production

Italian companies are planning to build a stronger presence in Iran by setting up joint ventures with Tehran Garment Union, says the chairman of the National Textiles and Fashion Association Sistema Moda Italia (SMI).
“These joint companies will produce clothes of reasonable prices and high quality. Also, their products will be exported to the Middle Eastern market and Cauccaus region. In other words, Iran will become our economic hub,” Claudio Marenzi told ILNA in an interview.
Referring to the high production costs in Italy, Marenzi said worker’s wage in Italy is five times and taxes are twice those in Iran, adding that low prices of raw materials and fuel make Iran an ideal place for production.
“Besides that, Italian fashion houses Prada, Giorgio Armani and Dolce & Gabbana will also sell their products in Iran. Iranians buy an average of €5 billion designer clothes on a yearly basis, but they mostly make their purchases through a third country. We are willing to provide for what they want firsthand. These value-added products and their retailing process would help create jobs to boot,” he said.
Marenzi noted that Italy is the only country in Europe where all stages of production, from making thread to the final product, are handled within the country, adding that his association has an annual turnover of more than €50 billion.

 

Short URL : http://goo.gl/9Wz1fD
  1. http://goo.gl/udhWj5
  • http://goo.gl/45HTPQ
  • http://goo.gl/3994TG
  • http://goo.gl/zH9Yuo
  • http://goo.gl/jPr7sg

You can also read ...

EU Rushes to Protect Economic Interests in Iran
With a reputation of a slow-working institution that only gets...
Swiss Firms Preparing to Quit Iranian  Market Over US Sanctions Risks
Several Swiss newspapers on Sunday reported that Swiss firms...
German Companies Cannot Be  “Totally Shielded” From US Iran Move
The German government will help German firms with business in...
Google Stands to Lose Up to $4.3b in UK Privacy Suit
Google appeared in a UK court on Monday to argue against a...
Chabahar’s Shahid Beheshti Port: Cheapest Business Option in Region
With new moderated prices for services offered at Chabahar’s...
HTC’s Next Flagship Specs Leaked
A testing subdomain on HTC’s website has confirmed the already...
Tehran Startup  Studio Launched
The University of Tehran and the Noor Credit Institution have...
Tehran Stocks Unshaken by US Nuclear Deal Pullout
Iran nuclear deal seems to be on life-support these days, as...

Trending

Googleplus