Home / Knowledge / News / Textiles / Arvind is setting up Denim Plant in Bangladesh
Arvind is setting up Denim Plant in Bangladesh
27
Sep '10
Arvind, One of the largest integrated textile, apparel and branded apparel player is expanding its Denim Manufacturing capacity to 140 million meters by setting-up 30 million meters of Denim manufacturing plant in Bangladesh.

For this purpose, Arvind is entering in joint venture with Nitol Group of Bangladesh. Arvind shall be setting-up 30 million meters of Denim manufacturing capacity over a period of 3 years with total investment of $ 60 million. The Phase 1 of 10 million meters shall be set up over next: 12 months with an investment of about US $25 million.

Bangladesh, with over 10 billion of exports of garments is among fastest growing garment exporters in the world. It is expected that with lower cost of wages and high productivity the country is expected to continue its growth momentum. Demand for Denim fabrics in Bangladesh is growing more than 25% and is currently at 280 million meters. Out of this, approximately 180 Million meters are being manufactured locally and about 100 million meters are imported.

Commenting on the development, Mr. Jayesh Shah, Director & CFO of Arvind said, "We look at Bangladesh as strategic location In view of unique advantages it offers. Bangladesh being we country, garments exported from Bangladesh do not attract any import duty if the fabric is manufactured in Bangladesh. The wage cost in Bangladesh is amongst the lowest in the world. We shall be manufacturing high quality Denim fabric to cater to requirement of European countries. Since we are already exporting 36 Million meters of Denim to Bangladesh annually, we have ready market available and hence the proposed plant shall be profitable from day one."

Arvind's JV partner Nitol Group has group turnover of US $100 million. Nitol Group has a joint venture with TATA Group and VIP Industries for Bangladesh. Nitol Group will have 20% stake In the JV Company.

The Arvind Mills was set up with the pioneering effort of the Lalbhai brothers in 1931. With the best of technology and business acumen, Arvind has become a true Indian multinational, having chosen to invest strategically, where demand has been high and quality required has been superlative. Today, The Arvind Mills Limited is the flagship company of Rs.20 billion (US$ 500 million) Lalbhai Group.

Arvind Ltd


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


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