Blog: Bangladesh's ambitious goal on apparel exports
Leonie Barrie | 14 December 2014
The Bangladesh ready-made garment industry has set out an ambitious goal to double its exports to $50bn over the next seven years as it works to rebuild its reputation in the wake of recent tragedies. But while the plans are big in scope they are also short on detail, and executives at last week's inaugural Dhaka Apparel Summit suggest massive challenges still remain if the country is to reach its goal.
The timing of the Summit coincided with the release of new data on US apparel imports. While these continued to grow in October as retailers continued their push to stock up on holiday merchandise, three of the top-ten supplier countries - Vietnam, Honduras and India - saw strong double-digit growth. But Bangladesh tumbled for the eighth month in a row.
Three Bangladeshi factories, however, are set to benefit from up to US$10m in funding in order to make fire and building safety improvements as part of a new programme set up by VF Corp. The financing arrangement is designed to help VF suppliers and has been set up in conjunction with the World Bank Group's International Finance Corporation (IFC).
Also in South Asia, Pakistan's textile industry has been promised an investment of $1bn per year that could potentially double exports over five years, following the signing of a new deal to import electricity from Kyrgyzstan and Tajikistan.
In the US, the long-serving and often controversial CEO of teen apparel retailer Abercrombie & Fitch has stepped down. The move by Mike Jeffries follows several quarters of lacklustre sales for the group and opens up something of a challenging role for his replacement.
just-style has also spoken with Seth Ellison, Levi Strauss group's president for Europe. The denim stalwart, which has been battling sluggish traffic trends, international challenges and a revolution in activewear, is looking to re-establish leadership in its sector. A touch of nostalgia, plenty of innovation, adjustments in sourcing strategy, and global expansion are all part of the plan.
Syrian refugee children as young as ten years old have been found working in garment factories in Turkey making clothes for brands including Marks & Spencer and Asos, a television documentary claims....
Fashion retailer H&M and UK based glove and leather manufacturer Pittards both say they are monitoring the situation in Ethiopia closely after the country's government declared a state of emergency af...
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
- Fashion fit for the future – strategies for speed
- Will new Vietnam wage hinder competitiveness?
- Digitisation to drive new apparel-making models
- Under Armour Lighthouse will disrupt production
- How TAL Apparel is staying ahead of the game
- Gap to shutter all UK Banana Republic stores
- MAS Holdings shares commitment to sustainability
- M&S "unappealing" clothing a barrier to growth
- Reebok Liquid Factory reinvents shoe production
- Bangladesh tops China as lead cotton importer
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020