Online firm to promote local textile industry
Online firm to promote local textile industry
JAKARTA (JP): Business and finance information provider IndoExchange.com said on Friday that its new Nexiaonline portal would help promote the local textile industry in the international market.
IndoExchange chief executive officer Cam Walker said that lack of global exposure had hampered the growth of many local textile manufacturers.
"However, by using the Internet we can overcome this problem," he said.
Walker said that the Internet technology would benefit mostly small and mid-size textile or fashion companies that could not afford overseas trips to market their products.
According to him, the global textile market will reach some US$13.5 billion in 2003 from $580 million in 1998.
He attributed the increase partly to the growing accessibility of information through the Internet.
"There are tremendous resources in Indonesia that we would like to bring to the international market," he said at the launching of the textile portal.
Nexiaonline claims to be Indonesia's first textile portal.
The site, he said, will bring together traders and buyers to buy, sell, quote and query garments and textile products.
Nexia's database of textile manufacturers comprises fiber, yarn spinners, fabric and garment. It also features fashion designers, retailers, stock-lots and trade quotas of various textile products.
Walker said the site would also allow buyers to contact textile manufacturers and view samples of their products online.
Walker expected the company to make profits through the annual subscription fee, which amounts to between Rp 8 million ($963) to Rp 20 billion for each member.
"We expect to reach a break even point somewhere in 18 to 20 months," he said.
At present, Walker said, Nexia has over a 1,000 textile companies listed on its database, though, not all are paying members.
IndoExchange will use air express service company PT Birotika Semesta/DHL Worldwide Express to send query samples requested by international buyers.
He plans to add e-commerce to its services in the future, adding that currently the Indonesian market is not ready for online transactions.
According to Walker, Indonesia needs to address concerns over the security of credit card transactions over the Internet.
"We're now just trying to get the companies online," he added.
Being a business and financial website, Walker denied that IndoExchange had moved into the textile business.
IndoExchange, he said, provided only the facilities for the local textile industry to go online.
Walker added that IndoExchange was looking to open similar websites in other potential industries, such as the food and beverage and the mining industry.(bkm)