Globally, one garbage truckload of textiles is landfilled or incinerated every second and less than 1 percent of fibres used in garment manufacturing are converted into new wearable clothing. This is due to the linear economy in the textile industry which is characterised by a one-way system: resources are converted into manufactured products which are sold for use and
Listed companies sprint to pre-Covid profit level
Combined profit of the majority of the listed companies surpassed the pre-Covid level in October-December quarter, pointing to a fast rebound in business and economic activities.
An analysis of 185 listed companies representing pharmaceuticals, fuel and power, textile and apparel, IT and telecom, steel, cement, ceramic, automotive, leather, food and consumer goods showed that the combined profits rose 26 per cent year-on-year to Tk 3,758 crore in the last quarter of 2020.
The cumulative profit was Tk 3,252 crore in the July-September period because of a pickup in business and consumer confidence, thanks to the reopening of the economy following a strict nationwide shutdown in April and May.
CPD STUDY ON US, EU MARKETS
Bangladeshi apparel sees sharper fall in prices than Vietnamese
As the uncertainties and stresses caused by the second wave of the pandemic still persist, the downtrend in apparel export will probably continue till April of this year, BGMEA chief said. Photo: Star/file Star Business Report Star Business Report
Bangladeshi apparel items have witnessed a sharper fall in prices compared to the Vietnamese products in the European Union and US markets, according to a study by the Centre for Policy Dialogue (CPD).
The price of 100 kilogrammes of made-in-Bangladesh cotton fibre T-shirt declined by 1 per cent year-on-year to 1,091.5 euros in 2020.
Swadhinata Parishad announces panel for BGMEA election
Md Zahangir Alam, convener of Swadhinata Parishad, yesterday announced the names of directors of his panel that will take part in the upcoming biennial election of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
The election is scheduled to be held on April 4 this year to elect the leaders of the trade body for the tenure of 2021-22. Alam said he has already announced the full panel of 26 directors for Dhaka region and soon he will announce the names of nine directors for the Chattogram region.
The leaders of the panel were introduced at a press conference at Sonargaon Hotel in Dhaka.
Leading fashion players implement circular systems in Bangladesh
Over 30 renowned fashion brands, manufacturers and recyclers are collaborating in a new initiative to capture and reuse textile waste in Bangladesh.
Global Fashion Agenda on Thursday announced the participants of the Circular Fashion Partnership, including the global brands Bershka, Bestseller, C&A, Gina Tricot, Grey State, H&M Group, Kmart Australia, Marks & Spencer, OVS, Pull & Bear, Peak Performance and Target Australia.
The Circular Fashion Partnership is a cross-sectorial project led by Global Fashion Agenda, with partners Reverse Resources, The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and P4G, that aims to achieve a long-term, scalable transition to a circular fashion system.