Serbian Knitwear Maker Doubles Revenues, Continues Growth
For Serbian knitwear maker Ivkovic Trikotaza, the future is looking as bright as the company's innovative fashions. With help from the USAID Serbia Enterprise Development Project (SEDP),
Ivkovic has sold its entire 2005 production, received financing to help cover expansion costs, and entered new markets. The company is now emerging as a major international brand, available in London, Rome, Tokyo, and New York.
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| Looking into new textile design |
Just a year ago, it was a different story. Faced with declining sales, Ivkovic was looking at possible layoffs.
"The designs were perfect," said Nenad Popadic, SEDP apparel advisor. "We thought that with a few changes and the right exposure, they could easily compete with top international labels."
SEDP worked with senior management to streamline production, standardize sizing, and to promote Ivkovic designs at prominent international trade shows. To help cover costs of exhibiting, SEDP offered financial assistance through a matching grants program. And to make it easier for buyers to review the designs, SEDP featured Ivkovic prominently on the website
portal of the Serbian apparel industry: www.serbianapparel.com. As a final measure,
SEDP helped Ivkovic procure professional sales agents, an essential step to breaking into new markets.
Results were swift. At the recent CPD trade show in Düsseldorf, Germany, Ivkovic was a runaway success. Buyers loved the playful styling, hand finishing, and attention to detail. The company quickly sold out its entire annual production. That more than doubled revenues compared to the previous year. And the orders keep coming. More than 100 contracts have been signed as a result of the show.
General Director Milos Ivkovic is pleased with the company's new outlook: "The production
lines are at absolute capacity. We're running all the machines in three shifts, 24 hours a day. From here, it's all about expansion."
He will have to act quickly. Ivkovic's success has caught the attention of some of the world's leading fashion retailers. The family-owned company from Bolec is now completing test orders for some of the biggest names in the luxury apparel business.
Ivkovic is one of more than 40 apparel companies that receive support from SEDP. The project works at the sector level and firm level to help companies build on their advantages, add unique value to products, and get those products to the right customers. SEDP works with the Serbian businesses to help them reach new markets, increase exports, and create jobs. Other sectors that SEDP supports are fruit products, tourism, information and communications technology, furniture, and clinical research.
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