Innovation, trend in the Spanish textile sector

Abstract

In the present paper, we will study the textile sector in Spain, understanding it as the one formed by the textile and garment industry, leaving aside the leather and footwear industry, which we consider forming a different sector. First, we will see the historical background of textile and industrialization process in our country, and then we will analyze the sector of nowadays, see its characteristics and the opportunities for growing companies in the sector. The textile sector is one of the main sectors in many countries and plays a key role in the economy. It is a mature sector, which has suffered stages of growth and crises throughout its history but has always been characterized by high restructuring, modernization and adaptation to market needs. The current situation in the sector is marked by globalization and trade liberalization that began in the first decade of the century. This liberalization has brought the entry of a large number of competitors in the market. The entry of these has been a radical change in the sector as they have come to compete at lower costs, transforming labour costs in the main problem of Spanish industry to compete. The sector in general has become less important when compared to the past because of what we have discussed. This dynamic is expected to continue over the coming years and that the Spanish textile companies increasingly have trouble when competing. Therefore, the Spanish sector must modernize and adapt again or try to evolve to regain competitiveness. Innovation and technological development will become the best allies to combat these difficulties and for the sector to regain lost importance in recent years. Many companies seek to differentiate through products with higher added value, in order to access new market niches. Finally, we will discuss the particular case of the company Intertex 1990 SLU to understand the things discussed during the paper and to see how innovation is the key factor for businesses to grow, succeed and continue to evolve.