Home / Knowledge / News / Apparel/Garments / Tau plans $200mn fund for Bangladeshi garment firms
Tau plans $200mn fund for Bangladeshi garment firms
07
May '14
A new venture ‘Tau Bangladesh’ has been launched by a New York-based growth-equity venture investment firm Tau Investment Management, LLC. Under its new venture, the company plans to invest US$ 200 million to buy minority ownership of large garment manufacturing enterprises in Bangladesh.
 
Speaking at the launch of Tau Bangladesh in Dhaka, Oliver Niedermaier, CEO of Tau Investment, said they are investing in Bangladesh to help a few companies become stronger strategic suppliers by helping the factories decrease inefficiency and increase productivity, thereby helping workers, the environment and investors.
 
 
At the event, Bangladesh Commerce Minister Tofail Ahmed urged the US Government to reduce import duty on Bangladeshi garments. He said that Bangladeshi products currently attract 15.16 percent duty in the US, while goods from Vietnam, Indonesia and India attract tariff of 8.38 percent, 6.30 percent, and 2.29 percent, respectively. Hence, a cut in duty would increase Bangladeshi clothing exports to the US, he added.
 
The Tau Bangladesh venture would be part of US$ 1billion Tau Transformation Fund that seeks to change the global apparel supply chain by making garment companies in countries like Bangladesh, Vietnam, Cambodia, etc comply international standards in terms of becoming socially responsible.
 
Tau Investment invests directly in unsustainable suppliers, bringing the capital and expertise required to turn them into the leading sustainable competitors operating at scale in their industries. The firm then slots these transformed suppliers into the supply chains of major global brands, creating improved transparency and performance across the supply chain.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search