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Bangladesh's Nitol Group sets up garment export house
07 Feb '12
2 min read
Nitol-Niloy Group of Industries, Bangladesh's leading conglomerate with an estimated annual turnover of taka 5 billion, has unveiled a trading platform that will cater to the needs of domestic garment industry for their exports, mainly to India.
The Group has launched Nitol-Niloy Export House (NNEH), which will serve as a platform for sellers to meet potential buyers and thus enhance their garment exports.
The NNEH, set up near Dhaka's Shahjalal International Airport, will have sections for brand development, product design and quality improvement to attract buyers.
At NNEH, sample products of partner garment companies would be displayed to help buyers from abroad choose their items of purchase and place orders.
Abdul Matlub Ahmad, Chairman of Nitol-Niloy Group, said the export house would place top priority on garments and its first target market would be India.
He added that Bangladeshi garments are one of the lowest priced in the global markets and hence, it is necessary to value-add by creating new designs and promoting brands to earn higher revenue from apparel exports.
He revealed that the export house will work in association with fashion design houses from Europe for value addition of its garments.
He informed that NNEH would publish a periodical fashion magazine and invest in research and development (R&D).
NNEH will provide assistance to its local partner firms, especially small and medium sized garment manufacturing firms, to increase their exports, Mr. Ahmad said.
He disclosed that the export house has already received orders worth US$ 400,000 from an Indian buyer and the trading platform aims to achieve US$ 3 billion in export earnings over the next few years.
The Group has launched Nitol-Niloy Export House (NNEH), which will serve as a platform for sellers to meet potential buyers and thus enhance their garment exports.
The NNEH, set up near Dhaka's Shahjalal International Airport, will have sections for brand development, product design and quality improvement to attract buyers.
At NNEH, sample products of partner garment companies would be displayed to help buyers from abroad choose their items of purchase and place orders.
Abdul Matlub Ahmad, Chairman of Nitol-Niloy Group, said the export house would place top priority on garments and its first target market would be India.
He added that Bangladeshi garments are one of the lowest priced in the global markets and hence, it is necessary to value-add by creating new designs and promoting brands to earn higher revenue from apparel exports.
He revealed that the export house will work in association with fashion design houses from Europe for value addition of its garments.
He informed that NNEH would publish a periodical fashion magazine and invest in research and development (R&D).
NNEH will provide assistance to its local partner firms, especially small and medium sized garment manufacturing firms, to increase their exports, Mr. Ahmad said.
He disclosed that the export house has already received orders worth US$ 400,000 from an Indian buyer and the trading platform aims to achieve US$ 3 billion in export earnings over the next few years.
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