Mauritius based Floreal Knitwear Group, which produces 5.5 million pieces per year, plans a big expansion in Bangladesh where it already produces 1.5 million
pieces. “Our strategy is to double our production volume in Bangladesh within two years and produce 30,00,000 pieces there. We are already looking for a second site to expand our operations,” informed Jean-Baptiste de Spéville, Chief Executive Officer of Floreal.
The group will be injecting Mauritian Rupee 50 million (US $ 1.65 million) in the expansion project. For management, the attractiveness of Bangladesh lies not only in its low labour costs, but also due to the fact that this country is a meeting point for principals from various countries. “International buyers are likely to visit Bangladesh regularly because they have offices. Have a marketing platform in this country allows us to bring Floreal its potential customers, “said Jean-Baptiste de Spéville.
This investment will enable the company on the one hand to increase capacity, on the other allow producing more in the premium segment. The group is 90% in the menswear, and the objective for the next five years is to diversify its production more equitably between menswear and ladieswear.
[bleft] This investment will enable the company on the one hand to increase capacity and on the other allow producing more in the premium segment. The group is 90% in the menswear, and the objective for the next five years is to diversify its production more equitably between menswear and ladieswear. [/bleft]
Floreal specializes in manufacturing sweaters of cashmere, lambswool and merino. The parent company of Floreal Knitwear, the Mauritian clothing maker Ciel Textiles, has recently reported a 28% rise in first-half pre-tax profits after an improved performance from its knitwear business (Floreal Knitwear).
The Ciel Textiles group has 8 business units: knitwear, knits, shirts, bottoms, spinning, weaving, dyeing and retail. Through its retail unit, Ciel commercialises the brand Harris Wilson and Floreal Boutiques. Floreal Knitwear Ltd. was officially opened on 5 June 1972. It was the first Knitwear factory to operate on the Island of Mauritius, producing knitted shetland and lambswool sweaters on hand flat machines.
Today, the company has knitwear operations in Mauritius, Madagascar, China and Bangladesh and Tropic Knits which has circular knitting plants in Mauritius and leisurewear making up units in Madagascar. In fabrics and yarns the Ciel Group owns Consolidated Dyeing & Fabrics that knits fabrics in Mauritius and Ferney Spinning Mills which spins carded yarn for knitwear and weaving in Mauritius.
