With $400-$420 million worth of exports in 2010, Noman has ended a long-held domination by the Opex Group and the Nassa Group.
“The global downturn prompted many top low-cost retailers to search for more economical supply sources,” says Mr Tagasa. “"Since we operate on economy of scale and with very low profit margins, we are receiving increased orders from top retailers like Asda, Wal-Mart and Target."
The group's spinning mills have 463,600 spindles manufacturing from 8/s to 80/s counts both in carded and combed form, supporting both the local and export markets.
In the home textiles sector, Noman is the largest producer in Asia and one of the biggest in the world, exporting to Europe and North America generally, with leading names including H&M, M&S, IKEA, Wal-Mart, Asda, Carrefour, Aldi, Lidl, and JYSK amongst its customers.
In apparels, the company is greatly increasing its production capacity for twill, poplin, canvas and yarn dyed fabrics and will be launching a new product line in 2011 in denim, towel and jersey knitted fabrics.
The company is now expanding its woven and knit garment units, adding a new 75,000 spindle spinning mill and an additional 100,000 m2 of fabric dyeing and finishing units. It is also investing in new poplin, bed-net, terry towel and home textile facilities.
Bangladesh's more than 2,500 active garment and textile manufacturers in 2009 exported $11 billion worth of knit, woven and home textile items, with only a handful exporting over $100 million or more.
Cotton prices have increased significantly in the last two years but retailers and end customers were unwilling to raise their prices. In terms of pricing, however, Bangladesh is competitive due to the low wage economy. The quality of products made in Bangladesh has also improved greatly, especially with those manufacturers who have recently invested in European technology.
Noman has been able to build on these advantages by enacting new strategies such as cost minimisation in different areas of production, increasing value-added products, product diversification, segmenting the products, opening new markets, and development of new products offering better margins.
“A few years ago, European and North American customers thought Bangladesh was unable to produce good quality products, but now they are buying more from Bangladesh because of the price and quality of the textiles,” says Mr Tagasa.
“Noman is beating the competition by quoting reasonable price, right quality of product, on-time delivery commitments, and being responsible in social and environmental policies.”
A. Monforts Textilmaschinen GmbH & Co KG
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