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Bangladesh local entrepreneurs focus on investing heavily in denim production

YarnsandFibers News Bureau 2014-09-03 11:00:00 – Bangladesh

Demand for denim fabric is high worldwide, as denim garments are comfortable and fashionable. To meet the growing global demand, local entrepreneurs of Bangladesh have started investing heavily in denim, as at least six new factories will come into operation this year.

Five to six other groups have already installed machinery to produce the fabric.

Kutubuddin Ahmed, chairman of Envoy Group stated that they will start producing an additional one million yards of denim fabric a month in the next three months. At present, it produces three million yards a month.

Currently they purchases 60 tonnes of yarn a day from local yarn makers to produce denim. To meet growing demand, they are now establishing a new spinning mill at a cost of $30 million to produce 50 tonnes of yarn a day. Production at the new factory is scheduled to begin in the next 18 months.

In the middle of 2013, denim lost much of global demand to jeggings, a kind of stretch fabric. But people rejected it later due to poor quality. Western buyers now returned to denim.

Bangladesh has 25 denim factories that produce around 20 million yards of denim fabric a month. Total investment in the sub-sector stands at Tk 6,500 crore.

Bangladeshi firms meet 40 percent of demand for fabric by the local denim makers and exporters; imports account for the rest.

The sector is maintaining slow but steady growth. The country will definitely perform better if the political environment remains stable, said Showkat Aziz Russell, managing director of Partex Denim.

Denim makers have to be creative in design and passionate about the products, customers and markets, as the business is linked to both local and international markets.

At present, Bangladesh exports denim fabric and denim garments worth more than $600 million a year to the $60 billion global market.

Bangladeshi entrepreneurs supply denim to major retailers and brands, including H&M, Uniqlo, Levis, Nike, Tesco, Wrangler, s.Oliver, Hugo Boss, Puma, Primark, JC Penney, C&A, Tommy Hilfiger, Inditex, Walmart, M&S, Calvin Klein, Diesel, Gap, Channel and Dior and G-Star.

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