Fabric prices falling but costumes still pricey

Even as masqueraders complain that their costumes prices are exorbitant, the cost of fabric has been on the decline for about the last five years.

But one fabric store owner is saying that even if bandleaders were to purchase all their fabric locally, the price of costumes will still remain quite high.  Gregory Aboud of  Jimmy Aboud, The Textile King, said while not much fabric is used in costumes anymore, a lot of intricate work is involved in producing costumes, hence the high prices.
“Costumes are now more sophisticated in terms of the intricate work involved so I doubt that the prices will be reduced. A lot of high technology materials like sequins and beads are also used in costumes.” Aboud added that plenty labour is also involved in the designing and production of costumes which also adds to their costs. He noted that the price of costumes also includes other costs like security, music, bar and toilets among others. He says the reason for the cheaper cloth is simple: there are more fabric dealers in TT than in most other markets. Aboud, who is also president of the Downtown Owners and Merchants Association (DOMA), said because of the amount of fabric dealers in the country there is also intense competition to attract customers. “The TT consumer is one of the better consumers around in this region and the combination of the well-educated consumer and the number of competitors have created an ideal situation for fabric in the country.

He said it is no secret that people come to TT from all over the Caribbean for fabric. He added that one of the reasons the yachting business is so big in TT is the fact that they are able to buy yachting and marine type fabrics here at much better prices than anywhere else in the region including Miami. Aboud said fabric is imported from all over the world. He said the Far East, Taiwan, China, Korea are huge players in this business. India is also an up and coming source of textiles while the US nd Europe still control a major part of the business. He said while he will not say that business is slow, he noted that there were many challenges that fabric store owners face on a daily basis. “We have to work much harder now for results than we did previously.” Additionally, there are a huge number of garment dealers showing up in TT and this is also having a negative impact on the garment industry.
“This is not only a matter of driving down prices, but creating options hence the prices have to be very tight.” He said some fabrics like those for school uniforms, drapery and curtain are cheaper now as compared to the last ten years. “I do not think that the cost of fabric should be such a big issue. People travel from Jamaica, Antigua, Venezuela and Brazil to buy fabric in TT.” He said while some of the fabric businesses in Port-of-Spain are a bit “quiet”, things should pick up now. He said this happens whenever there is Carnival in March. “People always have this feeling that Carnival is far away even if it is in the beginning of March. This sometimes causes a lull in business.”

Aboud said while some of the fabrics will maintain their prices in the coming months,  he said there were synthetic fabrics, like polyester, which is affected by the price of oil. He explained that the resin used in the fabric is derived from oil. “It is very possible that we will have some movement in the price of synthetic fabric if there is a war in the Middle East. If there is an attack on Iraq, it is possible. If however, it is a quick war then it might not have much effect.” Maria Abraham, manager of Queensway agreed with Aboud, saying cloth prices have been falling for the past few years. Abraham said some of the more popular fabrics that are used for Carnival like spandex, jersey and violle are being sold as low as $6.95 per yard. She said even though the store does not supply mas bands with fabric, they never increases their prices around Carnival time. “In fact we have a sale at that time.”

But despite the fact that there a sale, she said business is much slower than last year. “Last year we had more business than this year. For the past couple of years business has been slowing down.” Abraham said she expects business to pick up as Carnival approaches. Mike Stephen, manager, Textile Corner, said the consumer has been getting better value for the last few years. He said the cost of fabric has been on the decline for about the last five years. “Our challenge is to remain innovative and be competitive at the same time.” He added that the next complication for fabric store owners is the fact that costs like wages have been increasing. He said while their revenue base is going down, costs are going up. “We have seen the effects of such complications. Many fabric merchants like Patrick Aboud (owner of  Patrick’s which closed last year) and George Aboud have exited the market.” Juliet’s which was located on Queen Street, also closed its doors last year because of poor sales.

Stephen warned that this might be the outcome if costs keep increasing and prices are constantly reduced. “People who are not making money will drop out and invest somewhere else. This is very much a cause for concern.”He said another factor which is contributing to the demise of fabric stores is the large number of ready-made clothing available on the market. People are allowed to bring clothing to TT without paying duty and can therefore pass on these savings to customers. He added that those in the clothing industry also face many challenges as there is intense competition in this sector. “If you are a legitimate merchant paying your duty and you have to compete against someone who is not paying duty that is real hardship.” Stephen echoed Abraham’s sentiments. He said business has been slow for the last few years. “We have seen a couple of our competitors exit the market. This clearly indicates that the fabric industry is not as buoyant as it used to be.” Charmaine Patrick, supervisor, Miguel Moses, said sales have been terrible over the last few years. “People are hardly buying fabric. There has been a decline in sales over the years but this year it is even slower.” She also agreed that ready-made clothing industry is a real threat to the fabric business. Sandra Fournillier, a supervisor at 61 Queen Street, a bargain fabric store, said sales were much lower than last year even though prices are much cheaper. She noted that because they were a bargain store they usually sell cloth at cheaper prices.