Bangladesh need to consciousness more on price introduced, high-end clothing items as opposed to simple, traditional merchandise to make the business sustainable amidst the fierce opposition within the global garment exchange, a collection of European garment shoppers said yesterday.
the European fashion market is rebounding because the retail sales of garment items have been increasing by 3-4 percent 12 months-on-year over the previous few years, the outlets said.
The sale of denim merchandise is particularly at the rise, said Serge Leon, a contract adviser to the Modint, a ecu apparel emblem.
Bangladesh’s performance with denim has been very robust having already overtaken China and capturing 21.8 percentage of the marketplace percentage, so that is a brand new possibility, Leon stated.
Bangladesh exports over $1 billion-worth denim products to european markets in a yr and one out of every three jeans being worn is from Bangladesh.
Had the us of a exported extra price introduced gadgets, Bangladesh could have earned $35 billion from the equal quantity of products bought for $28 billion in 2015-16, he stated.
The value of manufacturing in Bangladesh has been growing and the rate of fundamental garment gadgets isn’t always so excessive. So, value introduced objects can make the commercial enterprise greater sustainable for Bangladesh, Leon said. Bangladesh’s opportunity has been growing in ecu markets as China, the arena’s largest apparel supplier, is dropping its international market proportion because of a dearth of skilled manpower and better cost of manufacturing, he stated.
ecu customers were growing their spending on apparel gadgets in latest years with the rebounding of economies, Leon said.
Europe is the largest garment export vacation spot for Bangladesh. almost 64 percent or nearly $18 billion really worth of garment gadgets had been shipped to Europe in the final financial 12 months.
Leon also spoke approximately some homework which Bangladesh needs to finish to attract more global shops and types and to seize extra of the worldwide marketplace percentage. Bangladesh now has factories which can be very a good deal compliant with rules, he stated.
This turned into a end result of inspections done by using the Accord and Alliance, two foreign inspection, remediation and monitoring companies for repairing the fireplace, structural and electrical in nearly 3,800 garment factories.
“this is a very fine facet of Bangladesh,” Leon said. Bangladesh have to preserve up the good activity of remediation as any bad news goes viral worldwide because of the good sized attain of social media. for instance, European customers have been able to without delay understand about the boiler explosion at Multifabs in Bangladesh, he stated.
The quit customers do not need to see these forms of explosions, crumble of buildings and deaths of workers. The clients need to realize approximately the environmental impact of industrial manufacturing in Bangladesh.
Leon’s comments got here on the side-lines of a daylong meeting of shops and producers at Lakeshore lodge in Dhaka.
almost 15 ecu clothing outlets like G-big name, Tricorp, Hema and Knits best took element in the assembly.
this is the second meeting in Dhaka this yr and greater such gatherings will take region in Dhaka next year.
The programme became organised by the CBI project, an initiative of the Dutch overseas ministry to boost imports from growing nations.
Dhyana van der Pols, programme manager of CBI, said the 28 Bangladeshi garment corporations which participated at the occasion might visit most useful vision—a enormously appeared exchange show in Paris—in September. The compliance fee in some of these factories is 90 percent, she said.
The political typhoon in Europe is over after the election in fundamental nations like the uk, the Netherlands and France, Pols said. The consumers’ confidence is rebounding with the recovery of important economies in Europe, she stated.
Such occasions help direct businesses among shops and producers, she said. In case of Bangladesh, a great percent of garment businesses are achieved with the aid of a third birthday celebration or through buying homes, causing manufacturers to lose out on earnings they could have attained.
“We do no longer get fair expenses from the stores and brands. we will move for the fee introduced gadgets,” said Faruque Hassan, vice chairman of Bangladesh Garment producers and Exporters affiliation, in his inaugural speech.
Ambassador of the Netherlands in Bangladesh Leoni Margaretha Cuelenaere inaugurated the occasion