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

Apparel/Garments | On 26th Aug 2016

China may increase pilot cross-border e-com cities

Cross-border e-commerce is becoming a new driving force of China’s...

Textiles | On 26th Aug 2016

Vigorous global competition challenge for EU textile firms

Vigorous global competition is among the main challenges for the...

Apparel/Garments | On 26th Aug 2016

Japan’s clothing imports down 7.1% in H1 2016

In the first six months of 2016, Japan’s clothing and accessories’...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
August 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search