Hyosung will make a full-scale foray into the Indonesian textile market where Muslims account for 87% of Indonesia’s population.
Hyosung announced on April 4 that the company would begin to enter the local market as a global premium textile brand by participating in the Indo Intertex, a textile industry exhibition held in Jakarta, Indonesia from April 4 to 7.
Hyosung showcased its yarn and fabrics used in premium garments, sports and leisure fashion items and active wear for Muslims in this exhibition by partnering with a local Indonesian brand.
Hyosung exhibited a premium denim fabric with Creora Fit Square, spandex for denims with global denim brand Lee Cooper and spandex creorafit square for denim. In addition, the company introduced Southeast Asian lingerie brand 'Sorella' and Creora Eco Soft-based lingerie and Muslim wear brand with Hyosung's spandex yarn to attract visitors.
Hyosung has been striving to raise consumers’ awareness of the Creora brand by paying attention to growing demand for elastic, comfortable and light fabric for Muslim wear as 87% of Indonesia's population is Muslim. In addition, the company has been developing fabric and implementing collaborative marketing with local companies.
Indonesia, on the other hand, has a population of about 260 million which ranks fourth in the world. About half of the total population are 24 years old or younger and are sensitive to fashion and trends, and demand for foreign-made clothing is going upwards due to high economic growth.
The Indonesian textile market has huge growth potential as the Indonesian government is planning to grow the Indonesian textile industry by 5% to 6% annually in the future. Indonesia's apparel market is expected to reach about US$ 18 billion 2018 and grow 8.4% annually until 2021.