Home / Knowledge / News / Apparel/Garments / Bangladesh's apparel sector on high tide
Bangladesh's apparel sector on high tide
25
Nov '10
As the world is restoring from the effects of global economic slump, more opportunities are coming to Bangladesh, with a host of internationally reputed apparel brands eyeing the country for sourcing more garments.

Few buyers have already turned to Bangladesh for importing garments, while leaving the other countries in competition, and others too are raising the magnitude of their orders.

Higher cost of production have caused the garment prices in Turkey, China, Cambodia, Sri Lanka and Vietnam to rise, while Bangladesh too has expanded its product range and marketing strategy for past several years.

Backed by the rising demand for reasonably priced products, there has been a growth of over 30 percent in apparel exports during July to September, this year.

As revealed by the Export Promotion Bureau statistics, $2.18 billion worth of knit products and $1.79 billion worth of woven products were exported during the period, which depicts a year-on-year rise of 32 percent and 30 percent respectively.

In recent times, there has been a rise in country's apparel exports to Canada, Mexico, South Africa, Australia, New Zealand and Brazil.

As big retail brands like JC Penny, Tesco, Wal-Mart, Zara, H and M, IKEA, Marks and Spencer, G-Star Raw, Li & Fung and Uniqlo, have raised the quantum of their purchases from Bangladesh, Spanish retail chain Inditex Group is also preparing to raise its exports from the country.

Further, leading German brands like Hugo Boss and Adidas are also in discussions with Bangladesh based apparel manufacturer Viyellatex Group for directly purchasing the stakes from the company in 2011, for the first time.

The German retail chain, Otto Gmbh and Co KG is also likely to invest Euro 20 million (Tk 197 crore) for operating a social business in Dhaka that manufactures garments.

Moreover, firms from Japan including TM Textiles, Maruhisa, NI Teijin, Yokohama Tape, CHORI, Onward Holdings Co and FVG have also started trading in Bangladesh. Bangladesh's apparel exports to Japan, a fresh market, began to rise since 2008 after Tokyo announced its China+1 strategy aimed at shifting its large scale exports from China to other countries like Bangladesh.

Fibre2fashion News Desk-India


Must ReadView All

Textiles | On 26th Jul 2017

Q1 2018 revenue at Raymond soars 14%

The consolidated revenue of Raymond Limited for the first quarter of...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Textiles | On 26th Jul 2017

Leather & footwear industry expecting incentive package

India’s leather and footwear industry is anticipating an incentive...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts
Eurofibers

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Pranav Mishra
Huemn

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X