Home / Knowledge / News / Textiles / Otto plans to set up textile unit in Bangladesh
Otto plans to set up textile unit in Bangladesh
01
Nov '10
Germany's Otto GmbH and Co KG has decided to establish a textile unit in Bangladesh in conformity with the social business model. The company has close ties with Bangladesh for decades and it intends to set up a factory in the country.

In November, 2009, the company had signed a deal with the Grameen Trust to initiate a joint venture – Grameen Otto Textile Company, which will manufacture readymade apparels for the global market under socially and ecologically sustainable conditions.

Both are expected to have a fifty-fifty partnership in the joint venture. Otto is likely to extend the entire funding whereas Grameen is expected to provide the necessary technical knowledge and vast set of connections.

Otto has several social business enterprises in Africa. Five years ago, the company had started social business in several African countries in order to enable cotton growers to cultivate higher-yield crops. The company has imparted training to the cotton growers.

The venture has been a real success. Currently 150,000 cotton growers are working for the undertaking.

Otto Group is a leading corporation with 123 major companies, 50,000 employees working in 20 countries. It is family-owned global business and service corporation.

It is the world's largest mail order company and comes next in ranking only after Amazon to have the second largest online marketing network.

Fibre2fashion News Desk-India


Must ReadView All

India’s e-commerce policy framework in 6 months: official

Apparel/Garments | On 26th Apr 2018

India’s e-commerce policy framework in 6 months: official

In the next six months, India will come out with a framework for a...

MSME secretary Arun Kumar Panda presenting 'friend of India' plaque to a delegate from Malawi at the first International SME Convention. Courtesy: PIB

Apparel/Garments | On 26th Apr 2018

India to set up Digital Trade Desk for SME collaboration

India’s ministry of micro, small and medium enterprises (MSMEs) has...

Courtesy: Kai Pilger from Pexels

Apparel/Garments | On 26th Apr 2018

FOBAP in the Philippines trying for garments sector revival

The Foreign Buyers Association of the Philippines (FOBAP), a body...

Interviews View All

Top executives
Textile industry

Overall, Union budget 2018-19 is very balanced

Top executives
Textile & apparel bodies

Textile industry would like to see inclusion of cotton yarn under MEIS and ...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Kevin Nelson
TissueGen

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

Larry L Kinn
Suominen Corporation

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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

Leave your Comments


April 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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

Active Poll

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

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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