PeruModa, the Peruvian textiles sourcing fair, hopes to double proceeds to $220 million next year as it moves to become a bigger regional trade show, according to Commerce and Tourism Minister Jose Luis Silva Martinot.
This year, Peru Moda, held in Lima April 10-12, will close with an estimated $110 million in orders, Martinot said.
However, “we want to become more of an international fair so we expect to have many more regional exhibitors and visitors next year which should help us double this year’s business,” he said.
To fulfill that goal, Peru will invite close trading partners such as Bolivia, Ecuador and Colombia, with which it conducts free trade under the Andean Community (CAN) to join the fare in coming months. It will also approach more exhibitors from Brazil and Mexico, Martinot said.
This year, PeruModa attracted 2,000 visitors of which 1,900 were buyers, Martinot said. That compares with around 1,600 visitors with roughly the same percentage of buyers in 2011.
According to Igor Rojas, director of export promotion agency Promperu’s textiles division, 54 percent of this year’s buyers were new with the majority originating from the US, Brazil, Mexico, Asia and Europe, mainly Scandinavia.
There was a 9 percent increase in U.S. buyers, he said, while the number of Brazilian buyers rose 25 percent and more than doubled for Mexico. There were 35 new Scandinavian buyers, mainly from Denmark, Sweden and Finland compared to 15 last year.
Peru has been making an effort to bring Northern European buyers to the fair to win contracts for its traditional alpaca and vicuna apparel ideal for cold weather.
The effort is part of a strategy to boost textiles and apparel sales to these countries, as well as other European markets, as Peru looks to double textile exports to $4.4 billion by 2017.
The South American country is also focusing on expanding its market share in the U.S. and Latin America — particularly Brazil and Mexico — where it sees great potential for its products.
From 2015-2017, Peru also plans to make a big push into the Asian market, with Japan and China the top targets, Promperu executives told WWD during the fair.
Rojas Promperu will work to gradually work to transform PeruModa into more of a clothing and fashion sourcing event as opposed to just a sourcing fair as the country works to develop a string of fashion designer brands.
For now, however, he said brands such as Lacoste, Hugo Boss, Nautica, Perry Ellis and North Face outsource high-end cotton (such as pima) and other apparel from several full-package Peruvian manufacturers, Rojas said. Luxury labels including Prada also buy Alpaca from Peru, he added.