The textile industry in Indonesia continues to strive to recover. Various methods are used to strengthen market existence. The Central Statistics Agency (BPS) noted that gross domestic product (GDP) at constant prices (ADHK) from the textile and apparel industry was IDR 34.58 trillion in the second quarter of 2023. The value fell 1.7 percent compared to the same period the previous year (year on year/yoy) amounting to IDR 35.17 trillion. In the first quarter of 2023, the textile industry's GDP growth rate was 0.07 percent, slowing down compared to the previous year of 3.61 percent (yoy).
Chief Executive Officer of iStyle.id Steven Calvin Victory said that he continues to strive to maintain market existence. One of them is collaboration involving several parties. For example, NewJeans.
"The increasing age of iStyle.id is also marked by positive business achievements, namely the number of transactions which recorded an increase of more than 11 percent," said Steven via zoom.
Steven added that the gross margin until September 2023 increased by 35 percent compared to last year, which was still dominated by the leading categories, namely fashion and beauty.