WGSN announces new partnership with CTIC
WGSN, the trendforecasting company that specializes in consumer, fashion and design trends and insights, has teamed up with the China Textile Information Center.
The partnership is meant to drive business growth in the Chinese market, which is becoming increasingly crucial to global companies. WGSN has operated in China since 2005 and has more than 500 companies as clients acquired in partnership with CTIC.
The agreement was signed by the Chairman of WGSN, Duncan Painter, who is also the CEO of Top Right Group the owner of Cannes Lions, and Sun Ruizhe, the Vice President of CNTAC (the National Textile Apparel Council of China) and Chairman of CTIC.
The two companies made an announcement on the future of colour at Cannes Lions on Sunday.
WGSN CEO Jose Papa said: "With its distinct language and culture that connects with western fashion influence, but remains unique and true to itself, we believe that China requires highly specialised local expertise to maximise the value of WGSN’s products and services."
"It goes without saying that from a business strategy perspective, China is crucial and we plan to drive significant growth and value for the WGSN business through our focus on the market. As long-term strategic partners, and excellent local insight providers, there is no better partner to help us do this than CTIC."
Hu Song, Vice President and COO of CTIC, said: "CTIC has partnered with WGSN since 2011, and this joint venture represents a significant step forward – one that will not only be beneficial for our two businesses, but for the Chinese textile industry overall. Through this long-term commitment together, we will strengthen our support for this pivotal domestic market, which at the same time represents huge potential for the global fashion and textile industries."
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