MAGIC Int'l: several Lankan firms confirm taking part
The Island - Sunday, January 05, 2003
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Several Sri Lankan companies have confirmed their participation at MAGIC International, the world's largest and most comprehensive apparel trade event in Las Vegas, Nevada, USA next month.

"It's a great opportunity for Sri Lanka to be able to take part in this global, market place to establish direct contacts as garment quotas are due to end by the year 2004", said Hiran Jayasinghe, MAGIC's local representative and Chairman, SUMMIT Corporation (Pvt.) Ltd.

MAGIC is an arena of over 85,000 buyers from 110 countries, 7,000 exhibitors and 33,000 departmental stores representing stalls.

"We are targeting the participation of about 15 Sri Lankan companies and the response so far has been very encouraging", Jayasinghe said.

North Hall, where the 'sourcing zone' is located, will now have general registration inside of it. This means, all 85,000+ buyers who attend the show must pass by the 'sourcing zone' or adjoining area where Sri Lanka booths will be located, he said.

MAGIC, described as international 'one stop shopping arena', will be held from February 18 to 21, 2003. A bi-annual global market place, the next event for 2003 will be from August 25 to 28.

Applications for this grand global event will be close at the end of this month, he added.

"It's a big boost as there will be a separate sourcing area for Sri Lanka", Jayasinghe said.

Buyers from 110 countries will attend MAGIC, which is a special venue to meet and interact and sell to the world's largest apparel purchasing community, he explained.


Transactions to the value of US$ 20 billion were pushed through during the last MAGIC marketplace in August last year. "This will be a big incentive for our country as 85% of apparel buyers from the entire US and Europe decide on their apparel purchases for the next 6 months at MAGIC.

With garments quotas due to end by the year 2004, Sri Lankan apparel companies will be at a huge advantage to establish direct contact with buyers as at MAGIC 93% of the buyers look for new sources, he added.

"They will then buy directly from us rather than Sri Lanka sub contracting for countries like China and Hong Kong", he noted.

He said the entire sourcing area will be located at the entrance to the trade stall which covers 1.2 million square feet. All the buyers will have to pass through this sourcing area and Sri Lanka will be based at the center, which will be a major attraction.

The all-inclusive package to participate is Rs.700,000. It covers the air fair and accommodation for two persons and a booth at the show, the local representative said.

More details could be obtained from the MAGIC web site MAGICtradeshow.us or e-mail: Hiran@MAGICtradeshow.us

MAGIC was first held in 1917 Los Angeles. The venue was shifted to Las Vegas in 1970.

 

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