A museum displaying the famed shoe collection of ex-first lady Imelda Marcos has reopened in the Philippines, heralding a fightback by its beleaguered shoe industry against a flood of cheap imports.
The museum is not just a showcase of the best of Marcos’ 3,000-pair collection, but also of the craftsmanship in shoe-making in the riverside eastern suburb of Marikina where the industry was born over a century ago.
Footwear consultant Tessie Endriga said that Marcos failed to provide the Marikina shoe industry with much-needed infrastructure or financing when her husband was in power. However, she did help in her own way.
Photo: AFP
“She did patronize local brands. If she liked a certain style, she would buy a dozen pairs,” said Endriga, who has worked with the government’s Bureau of Product Standards.
Marikina shoes were once famous, until low-priced footwear from countries like China and Vietnam flooded the industry over the years, local business leader Jose Tayawa said.
“You buy Marikina-made shoes and use them for five years. You buy Chinese shoes for one-fifth the price, but you can only use them for a few months,” said Tayawa, the head of the Marikina Chamber of Commerce and Industry.
Former shoe museum curator Dolly Borlongan conceded that most of Marcos’ shoes were imported, but added that there are many Marikina shoes among them, as well as displays on Marikina’s shoe-making history.
The museum was set up in 1998 as just one more way for Marikina to advertise its century-long history of making footwear, from humble slippers to rugged work boots to high-fashion custom shoes.
The town has also built the world’s largest shoes — a pair of leather men’s shoes, each as large as a van — which are still on display at a Marikina mall.
Generations of Filipinos grew up wearing the local products, and Marikina-made snake-skin shoes became the toast of Manhattan’s Fifth Avenue in the early-1980s, the city boasts on its Web site.
However, Marikina’s shoe--makers — and the shoe museum — have suffered setbacks in recent years. Massive flooding from Tropical Storm Ketsana last year damaged the museum, as well as many shoe-makers’ facilities and inventory.
The storm and the foreign competition took their toll. From the mid-1990s peak of 3,000, only about 200 Marikina shoemaking factories remain, said Roger Py, director-general of the Philippine Footwear Federation.
However, late last month, the museum reopened, just one of the moves that Marikina officials and businessmen hope will turn the footwear industry around, city administrator Victoriano Sabiniano said.
Tourists who visited the museum tended to look for a place to buy Marikina shoes, officials said, so the city is setting up a permanent shoe expo in a central area to sell its key product and spread the word about its quality.
“Step one is the local market. Once we fix that, we can go abroad,” Sabiniano said.
Quality was never the problem, Endriga said.
“We have come up with excellent shoes. The quality of craftsmanship in the Philippines can compete with Italy,” she said.
However, “I won’t say the shoe industry is dying, but it is missing out on a lot of opportunities,” she said.
Government figures show that Philippine footwear exports last year dropped 19.5 percent over the previous year to US$25.96 million.
Exports hit their peak at US$176.3 million in 1994, but have fallen sharply over the years.
Many visiting foreign buyers are still impressed by the quality of Philippine footwear, said Merlinda Diaz, an officer in the government’s Bureau of Export Trade Promotion.
“But then they ask for China-level prices and the deal falls through,” Diaz said.
The solution is not to compete with the high-volume production of these countries, he said.
“We avoid meeting the competition head-on in the cheap footwear sector. We go for the middle and the high-end,” said Py, who also heads Stefano Footwear, a major local manufacturer.
The local cobblers are now targeting smaller boutique stores in developed countries, where low prices are not the main attraction, he said.
The rising wages in China are also making Marikina shoes more competitive, Py added.
When an apartment comes up for rent in Germany’s big cities, hundreds of prospective tenants often queue down the street to view it, but the acute shortage of affordable housing is getting scant attention ahead of today’s snap general election. “Housing is one of the main problems for people, but nobody talks about it, nobody takes it seriously,” said Andreas Ibel, president of Build Europe, an association representing housing developers. Migration and the sluggish economy top the list of voters’ concerns, but analysts say housing policy fails to break through as returns on investment take time to register, making the
EARLY TALKS: Measures under consideration include convincing allies to match US curbs, further restricting exports of AI chips or GPUs, and blocking Chinese investments US President Donald Trump’s administration is sketching out tougher versions of US semiconductor curbs and pressuring key allies to escalate their restrictions on China’s chip industry, an early indication the new US president plans to expand efforts that began under former US president Joe Biden to limit Beijing’s technological prowess. Trump officials recently met with their Japanese and Dutch counterparts about restricting Tokyo Electron Ltd and ASML Holding NV engineers from maintaining semiconductor gear in China, people familiar with the matter said. The aim, which was also a priority for Biden, is to see key allies match China curbs the US
The popular Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) arbitrage trade might soon see a change in dynamics that could affect the trading of the US listing versus the local one. And for anyone who wants to monetize the elevated premium, Goldman Sachs Group Inc highlights potential trades. A note from the bank’s sales desk published on Friday said that demand for TSMC’s Taipei-traded stock could rise as Taiwan’s regulator is considering an amendment to local exchange-traded funds’ (ETFs) ownership. The changes, which could come in the first half of this year, could push up the current 30 percent single-stock weight limit
NOT TO WORRY: Some people are concerned funds might continue moving out of the country, but the central bank said financial account outflows are not unusual in Taiwan Taiwan’s outbound investments hit a new high last year due to investments made by contract chipmaker Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and other major manufacturers to boost global expansion, the central bank said on Thursday. The net increase in outbound investments last year reached a record US$21.05 billion, while the net increase in outbound investments by Taiwanese residents reached a record US$31.98 billion, central bank data showed. Chen Fei-wen (陳斐紋), deputy director of the central bank’s Department of Economic Research, said the increase was largely due to TSMC’s efforts to expand production in the US and Japan. Investments by Vanguard International