The textile industry in Serbia is showing signs of progress, though it continues to face significant challenges. Once a key sector for GDP and employment—particularly for women—it has experienced considerable deindustrialization in the late 20th and early 21st centuries. Despite this, some companies have maintained long-standing success in this often-overlooked industry.
In an interview with Biznis.rs, Srđan Marjanović, co-owner of Global Trade Yu, which specializes in industrial sewing and automatic machines, shared insights on the market. Established in 1997, the company serves textile, footwear, and furniture manufacturers, utilizing direct contacts, trade fairs, promotions and social media to reach clients.
The textile sector faced additional setbacks after 2021 due to the pandemic and the war in Ukraine, leading to high inflation and rising costs. However, Global Trade Yu managed positive results due to its diverse product range and client profiles. Marjanović noted that while the pandemic and geopolitical tensions drove up labor and raw material costs, the company still adapted to market demands.
In 2023, as conditions began to stabilize, Global Trade Yu focused on automation to tackle labor shortages and production costs. Marjanović highlighted the positive impact of local and provincial subsidies and incentive programs on their business.
Looking ahead, the company plans to expand from importing and selling industrial machines to producing automatic machines. This shift aims to provide clients with sustainable solutions amidst the challenges in the textile industry and to help reestablish Serbia as a key player in global textile production.
Marjanović expressed pride in the company’s 27 years of success and the strong relationships built with clients, noting a high rate of return customers thanks to the dedicated support from their professional team. “Our commitment to our clients and the results we achieve together are what give us confidence that we’re on the right path,” he concluded.
