(Fixes dropped letter in Raffy Kassardjian's name) By Victoria Waldersee and Ruma Paul LISBON/DHAKA, Feb 8 (Reuters) - Clothes retailers in Europe and.
Fibre2Fashion
Toggle navigation 08
Pic: Texpro
Bangladesh apparel export has declined from April 2020. The export dropped 63.93 per cent to $1.18 billion in May compared to $3.27 billion in March, according to
Fibre2Fashion s market analysis tool TexPro. Export-oriented apparel factories were allowed to reopen by Bangladesh government on April 5, although the spread of virus and death toll was on rise. Trade union leaders were not ready to open their factories in order to avoid the spread of virus, however they demanded payment of wages and coronavirus protective equipment for workers. In April, government announced a $590 million incentive package for garment and other export-oriented sectors.
5 Min Read
LISBON/DHAKA (Reuters) - Clothes retailers in Europe and America sit on excess inventory and cut back on spring orders. Sourcing agents face late payments. Garment factories in Bangladesh are on the rack.
The global apparel industry, reeling from a punishing 2020, is seeing its hopes of recovery punctured by a new wave of COVID-19 lockdowns and patchy national vaccine rollouts.
Some major retailers are still nursing last year’s clothes, which would have been sold off in clearance sales in normal times. British chain Primark, for example, told Reuters it was housing around 150 million pounds ($205 million) worth of 2020 spring/summer stock and 200 million pounds from autumn/winter.
LISBON/DHAKA: Clothes retailers in Europe and America sit on excess inventory and cut back on spring orders. Sourcing agents face late payments. Garme.
BGMEA POLLS Star Business Report Star Business Report
ABM Shamsuddin, a former vice-president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), on Saturday introduced the panel from which he would be contesting for the president post to the association s biennial election scheduled for April 4.
Addressing the introductory meeting at The Westin Dhaka, he said the inflow of work orders for apparel would continue to grow in the near future because of Bangladesh s production capacity and troubles in some competing countries.
The international clothing retailers and brands have been diverted to Bangladesh with work orders because of political troubles in Ethiopia and Myanmar and loss of the Generalised System of Preferences by Cambodia, he said.