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Turkish firm to up apparel imports from Bangladesh
20
Dec '11
Tema Group, a leading Turkish company, has said it would raise its annual woven and knitwear imports from Bangladesh over the next few years to cross the US$ 500 million-mark by 2015.

However, the nearly US$ 1 billion Group urged Bangladeshi apparel suppliers to focus on quality aspect to rule out delays in shipments.

Addressing the company's annual suppliers' meeting, Edward Southall, an Executive Member of Tema Group, said it is no longer enough to be good for both Tema and Bangladesh to remain competitive.

He added that problems related to quality lead to late delivery of goods, resulting in an increase in the cost of sourcing apparels.

He said quality assumes importance at a time when the demand for apparels is declining owing to the eurozone crisis and fears of recession.

The Tema Group's apparel imports from Bangladesh would increase owing to the weakening of Bangladesh currency Taka and sourcing from China becoming costlier, Mr. Southall said.

Tema Group's annual revenue has risen from a mere US$ 7 million in 2004 to about US$ 1 billion at present.

Fibre2fashion News Desk - India


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