Impact on the local textile industry
The opening of imports and the reduction of tariffs have caused concern in the local textile sector. According to recent data, 67% of clothing purchases in the country correspond to garments manufactured abroad.
These measures aim to maintain competitiveness against the influx of more affordable foreign garments
The opening of imports and the reduction of tariffs have caused concern in the local textile sector. According to recent data, 67% of clothing purchases in the country correspond to garments manufactured abroad.
The government welcomes these price reductions as a sign of competition and adaptation to the new economic scenario. However, apparel chambers have expressed concern about job losses and the decline in production in the sector.
Pedro and Martín Wolfsohn, CEOs of Equus, stated: "We are convinced that as Argentinians we must support our consumers in this key moment of economic recovery."
In a context of opening up imports, national brands such as Equus, Etiqueta Negra, and Gola have announced price reductions of up to 40% on their products. These measures aim to maintain competitiveness in the face of the entry of more affordable foreign garments.
Equus, specialized in men's apparel, announced that it will roll back prices to early 2024 levels. For example, sweaters and pants will be available starting at $49,900, jerseys from $59,900, jeans from $64,900, jackets from $84,900, and coats from $159,900.
Meanwhile, Federico Álvarez Castillo, owner of Etiqueta Negra and Gola, announced an average reduction of 10% in their products, although he clarified that prices vary depending on the origin of the garments, which include production in China, Portugal, and Italy.