Pacific Jeans, one of Bangladesh’s renowned denim manufacturers, is reportedly planning to come up with two new manufacturing units in Chittagong in next couple of years.
To be built at a cost of US $ 100 million, the two units- Pacific Knitex and Pacific Casuals will reportedly produce fabrics and activewear respectively. “Activewear is not a traditional garment product. Rather, it is a specialised product that Bangladesh is yet to explore,” stated Director of Pacific Jeans Syed M Tanvir while speaking to the media underlining the company’s intent of diversifying its product offerings.
It may be mentioned here that in an earlier interview with Apparel Resources, Tanvir observed that considering the country’s growth and maturity when it comes to denim, from here on it will be all about efficiency, product development and innovation for the denim sector. The company as such has invested heavily in product development and innovation. It has set up its own PD team dubbed ‘Pacific Jeans Innovation Centre’, which works in close collaboration with the leading fashion designers of premium denim brands from US, EU and Japan to come up with value-added innovations, besides taking help of strategic partners in different geographical locations to get real time information on trends, forecast and developments.
As to Pacific’s new venture to produce activewear, Tanvir is reportedly expecting good business in light of activewear strongly emerging as a very prospective product category due the recent global trend of active and healthy lifestyle.
As per a study by US-based market research firm Research and Markets, the global activewear market, valued at US $ 351.164 billion in 2017 is expected to grow with a CAGR of 6.5% between 2017 and 2023 to reach US $ 512.39 billion.
