Envoy Textiles Limited, a prominent denim manufacturer from Bangladesh and the first company in the world to achieve LEED certification for denim production is set to open a business office in the United States. This strategic decision was approved by the company’s Board of Directors during a meeting, underscoring the company’s commitment to enhancing relationships with current clients and exploring new market opportunities.
The new office will be situated in Manhattan’s Garment District, a key center for the global textile industry, with the aim of strengthening Envoy Textiles’ presence in the US market. This move is expected to facilitate closer interactions with clients and pave the way for further growth.
Tanvir Ahmed, Managing Director of Envoy Textiles Ltd., remarked, “This initiative will not only help us strengthen our relationships with existing buyers but also attract potential clients in the US” He highlighted the benefits of being located in a buyer-centric area, including improved communication, enhanced brand credibility, and access to previously untapped markets.
Additionally, the establishment of this office is anticipated to increase textile sourcing from Bangladesh by international brands in Europe, the US, and East Asia, significantly improving the company’s business prospects through enhanced buyer engagements.
Envoy Textiles already maintains an overseas office in Hong Kong, and the upcoming US office is expected to further bolster its international footprint. The company has an annual production capacity of 4,380 tonnes of blended yarn, translating to about 12 tonnes per day.
In the last fiscal year, Envoy Textiles experienced a substantial revenue growth of 28.54 per cent, driven by a 25 per cent global rise in demand for its denim fabrics. In the first quarter of the current fiscal year (July-September), the company reported a net profit of Taka 25.33 crore, reflecting a remarkable 134 per cent year-on-year increase, with revenue rising by 40 per cent to Taka 439.94 crore.
