TEXWATCH.COM PLANS NEW B2B EXCHANGE
NEW YORK — TexWatch.com, an Asian Web site providing information on the textile and apparel industry, said it plans to launch a business-to-business e-commerce exchange by the end of September.
The company will invest $15 million over the next year on e-commerce.
The Hong Kong-based firm said it has signed up eight local clothing manufacturers — which own more than 200 factories and have contracting relationships with another 1,000 — as founding members of the exchange.
Those companies are Crystal Knitters Ltd., Fang Bros. Knitting Ltd., Sterling Products Ltd., Sun Hing Knitting Factory Ltd., TAL Apparel Ltd., Tristate Holdings Ltd., Wing Tai Corp. Ltd. and Yangtzekiang Garment Manufacturing Co. Ltd.
“Hong Kong industrialists have always been aggressive in adapting to changes in the global business environment,” Kenneth Wang, managing director of Sterling, said in a statement.
“This joint effort reinforces our collective vision and leadership in the textile and apparel field.”
TexWatch said that Cable & Wireless HKT, a Hong Kong-based unit of the British company, will provide the infrastructure for the e-commerce system.