Our competitors are located in China and Turkey, but China is far away and Turkey has become dangerous and unpredictable for business.
Facts about China Turkey and Bulgaria
Logistics, land transport: From China 45-60 days; from Turkey 3-5 days more then from our facilities.
Currency: Yuan and Lira are extremely volatile. This makes the bargaining process full of risks and must be covered and leads to additional financial costs. Bulgarian Lev on the other hand is bonded to the EUR and have a fixed rate. Moreover Bulgaria will enter the EURO ZONE in 2018. No currency risk exist.
Yarn: The suppliers are the same and the prices too.
Payments: We accept all kind of payment methods (Letter of credit, bank guarantee, Factoring etc.).
Workforce: An hourly rate in Bulgaria is minimum 30% less than in Turkey and China isn’t anymore a cheep destination for production.
Putting all the facts together is clear, that Bulgaria is a top destination for socks manufacturing and Softsocks is the leading company in the sector.