We applaud the pro-active approach being shown by Bangladesh’s denim producers in taking their part of the RMG industry forward.
The sector’s hosting of a two day Bangladesh Denim Expo next month to attract global buyers provides a valubale chance for it to showcase maufacturers’ growing involvement in design and innovation.
More Bangladeshi denim manufacturers are successfully investing more in the design and development of new products. This is helping them move away from a position where designs were solely dictated by buyers to one where they can attract new orders by offering more of their own new designs of denim.
The value added by such enterprise and innovation not ony helps the producers compete better globally, but benefits retailers as well by reducing their research and development costs.
Presently, denim accounts for around $6bn of the country’s $25bn RMG exports.
With world demand in the $60bn denim sector expected to grow at over 8%, and domestic demand multiplying even faster, there are sound prospects for denim producers to achieve their goal of doubling sales to over $13bn in the next five years.
Ten new denim factories are expected to come into operation soon to add to the 27 existing specialist denim manufacturers.
It is important to keep investing in design and innovation to take the sector up the value chain. There is much potential to mark more premium denim products globally by investing more resources into better fabric and techniques.