Article | Entrepreneurship area | Year 2014 | |
Modernizing tradition - the Thai silk industryby Preeya Patichol; Winai Wongsurawat; Lalit M. Johri | |
Strategic Direction 30(2), p.31-33 |
AbstractPurpose – This paper identifies challenges the traditional Thai silk industry has faced during its internationalization, and the public and private responses employed to overcome challenges.
Design/methodology/approach – In-depth interviews were conducted with major players along the Thai silk value chain to gain insights into the industry's transformation from a domestic, cottage industry into an international fashion producer.
Findings – Thai silk has created a niche market for high-end, cultural products, thus successfully sidestepping direct competition from emerging low-cost producers. The main innovative strategies employed include introducing new products, upgrading quality, attracting new customers, and collaboration between actors all along the silk value chain.
Originality/value – This study illustrates how a traditional industry can evolve and successfully adapt to changing consumer demands and competitive landscapes in a globalize economy.
Keywords: Silk, Thailand, Traditional industries, Value chain upgrading Comments: Indexed in SCOPUS Q4 |