'New Economics of Fashion' now in Bangladesh

12 Mar '14

3 min read

Fibre2fashion in association with Infor, one of the world’s largest suppliers of enterprise application solutions and services to the Fashion industry, and Brandix i3, an Infor Global Alliance and Direct Services Partner, is organizing a workshop “Fashionomics 2014 – The New Economics of Fashion” on March 20, 2014 at Dhaka – Bangladesh.

In recent times, the Fashion industry has witnessed a large paradigm shift. Asian countries like China, Bangladesh and India are playing a dominant role in international trade. Among these, Bangladesh has now become one of the most sought after garment manufacturing hubs, which has led to western apparel brand owners and retailers targeting Asia as their prime consumer market. Having said that, these countries are facing numerous challenges in the global market due to volatility in price, rising input cost, energy crisis and lack of marketing initiatives/exposure etc.

Bangladesh’s Fashion industry is now one of Asia’s primary production base which is complemented by its 5000+ factories and cost effective labour. Although, productivity is booming, profitability has taken a back seat. Issues such as poor infrastructure, limited use of technology, dreaded contractors, labour safety, high borrowing cost etc. all pose a threat to de-stabilize this industry. To offset these issues, manufacturers will now have to improve internal efficiencies by adopting new technology, new sourcing strategies and stricter safety standards to make the clothing industry safer and profitable.

The workshop “Fashionomics 2014” will discuss some of the economic factors such as global competition, the high cost of labour, logistical challenges, complex export procedures and low adoption of technology that represent some of the many challenges faced by the apparel-textile-fashion industry in Bangladesh.

This invitation only workshop will have around 70 delegates, including senior management, officials and professionals, representing various apparel manufacturing companies, brands and retailers based in Bangladesh. Furthermore, top officials from big apparel manufacturing companies will share their success stories (strategy and approach) for a given topic with the delegates.

Mr. Robert McKee, Infor’s Global Fashion Industry Strategy Director will address the challenges faced by the Bangla Fashion industry at large and will also discuss smarter technology solutions that manufacturers should embrace to create an impactful change. Mr. McKee will help the audience to understand ways to improve their internal efficiencies by adopting newer technologies, new sourcing strategies and stricter safety standards to make the clothing industry safer and profitable.

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