One might wonder why Bangladesh would venture into retail when the country’s core strength is in manufacturing. The experts are of the opinion that rapid economic development and the increased spending power of its people, has given rise to an equally promising retail sector. Expected to become a middle-income country by 2021, the country seems to have turned into an exciting retail proposition for many big names. Some of the popular retail brand names going around by some top companies include ‘Yellow’ from Beximco; ‘Smartex’ (Giant Group); ‘Rise’ (Standard Group); ‘Sailor’ (Epyllion Group); ‘SaRa’ (Snowtex Group); ‘Smartex’ (SM Group); ‘Amber’ (Lifestyle Amber Group); and ‘OCode’ from the house of Energypac. Team AOB spoke with the stakeholders in the country’s fashion retail to know more.
Irrespective of adverse market conditions and challenges, the Bangladeshi RMG exporters are moving forward in multiple directions, and Posh Garments, Dhaka is one of them. AOB speaks to the MD. Meanwhile, the outbreak of Coronavirus in China has left the readymade garment sector worried; however, experts are yet to figure out the quantum of it. The country is highly dependent on China for its industrial raw materials and finished goods with nearly 28 per cent of the country’s imports coming in from China. Besides, China is also strongly emerging as an apparel export destination for Bangladesh. The country exported garments worth US $ 506 million to China in last fiscal year.