Denimco Textile, a Turkish denim maker plans to link up directly with Bangladeshi exporters to sell the fabric as Bangladesh is a major exporter of denim products to Europe and US. Oguz Aksoy, marketing officer of Denimco present at the two day Bangladesh Denim Expo that began at Radisson hotel in Dhaka yesterday said that they are all set to open an office with one and a half months in Dhaka.
Bangladesh is an important market for them because its economy is growing rapidly. Currently, Denimco produces 3.5 million metres of denim fabrics a month, of which 70 percent are exported and the rest are sold in the Turkish market.
Many posh retailers and brands are their customers as they produce a variety of denim fabrics, with their prices ranging from $3 to $350 a yard.
Not only Denimco, many internationally renowned denim makers and importers now aim to increase business in Bangladesh, which has become a major supplier of denim products offering lower prices and high quality.
Garmon Chemicals and Fashions, a chemical supplier based in Italy who supplies chemicals worth $28 million a year to denim makers worldwide, including $3 million to Bangladeshi businesses are also planning to shift to Bangladesh as China, the largest denim supplier worldwide has become expensive.
Marco Nava, export manager of Garmon Chemicals and Fashions who is attended the first version of show Denim show in November last year said that Bangladesh has a bright future in denim business.
According to Vichai Phromvanich, managing director of Absolute Denim, a Thai company, which sells denim fabrics to Bangladeshi companies, the demand for denim garments is on the rise worldwide and Bangladesh has a big opportunity in denim business as the country's main export markets are Europe and the US. In future, they may go for partnerships with Bangladeshi firms, he said.
With the rise in business, local fabrics makers are also going for expansion or setting up new production units.
Muhammad Zakir Hossain, deputy manager of Square Denims Ltd, a new entrant and a unit of Square Group said that they have initially targeted to produce two million yards of denim fabrics a month at their new factory which will start from July. From next year onwards they would increase their capacity to six million yards.
The company are also in talks with major international brands and retailers to sell their fabrics. They also plan to open a factory to make denim products.
Presently, Bangladesh has 25 denim mills which produces 20 million yards of denim fabrics a month and can meet 60 percent of the demand, while the rest is met through import. By the end of this year, Bangladesh will have five more mill going in production of denim fabrics.
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