Why Choose Trinidad & Tobago: Unleashing T&T’s Fashion Potential
Kay Baldeosingh-Arjune Editor BT&T
Unleashing T&T’s Fashion Potential
Right Incentives + Right Investment = Exciting Rewards
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&T is an exciting emerging fashion capital with the potential to take its place alongside Carnival, cricket, methanol and LNG – other areas for which the country is world-renowned and world class. With a torrent of business and investment opportunities waiting to be released by the right investors and the right financing, has this industry reached its tipping point? A number of important developments in the last five years have certainly brought the industry closer to this point. Industry studies have endorsed the sector’s potential, identifying business opportunities, Best Bets, and a development path. Two strong organisations, Fashion Week T&T and the Fashion Association of Trinidad & Tobago, have emerged to organise and lobby for the industry. Two exciting fashion shows - FWTT and Makin’ Style Trinidad & Tobago Fashion Collections - are now on the annual calendar attracting international press coverage and showcasing T&T talent. The Caribbean Academy of Fashion and Design (CAFD) at the University of Trinidad & Tobago (UTT) is offering worldclass training in key aspects of the fashion industry, including business management. CAFD’s first 40 students in its Bachelor of Fashion Design programme are expected to graduate and enter the industry in 2012 armed with the latest business tools and fashion techniques.
28 • Business Trinidad & Tobago
The industry has won the commitment of the country’s new Prime Minister and a promise of government support in fasttracking its development. The first tangible demonstration of that support is a $10 million Innovation Financing Facility that can be accessed by players in this sector. Developments in technology and global logistics have opened up new opportunities for small countries and small businesses. T&T exporters can now take better advantage of these opportunities with the roll-out of TTbizLink – a single electronic window that will simplify the process of trade documentation; new electronic transactions legislation; and the ongoing implementation of the country’s national ICT plan which has already resulted in faster speeds, lower rates and a business to business e-portal (www.bdctradeportal.com). Recent favourable reviews of T&T designers at trade shows in London, Colombia and Jamaica testify to the continuing appeal of T&T design. Niche Markets Niche markets have been identified for T&T in textiles design; high-end resort wear; handcrafted tailoring; accessories design including handbag, swimwear and jewelry design; and costume design and manufacture for carnivals around the world.