A more transparent supply chain and individual traceability for every item: the strategic partnership with retraced represents another important milestone in the Marc O’Polo sustainability strategy.
Bangladesh’s economy is growing rapidly and last financial year Bangladesh exported readymade garments for around 42.61 billion. Rapid growth has enabled Bangladesh to reach the lower middle-income country. So global brands are looking for grabbing the opportunity to start a retail business in Bangladesh. This is a good sign for Bangladesh’s image that foreign brands are considering the country as one of the safest places to start a business.
Besides, many export-oriented Bangladesh companies are also entering the local market and offering the best quality product at a reasonable price. So foreign brands can be both threat and an opportunity in the retail market for Bangladeshi retailers.
A plain truth was at work behind the revival of the long-invisible RMG market selling apparel items under the category of local brands — the objective being recouping the recent losses incurred in the readymade garment sector. Marketing the apparel products manufactured by local RMG brands, once representing Western buyers like H&M, Walmart, JC-Penny, Marks & Spencer, etc. and their purchase by enthusiastic local clients bodes well for the country’s apparel sector
By turning to the last-ditch efforts in marketing RMG products through the parent companies’ local brands like ‘Sara’, ‘Noir, EVANTI, KLOTHEN, Klubhaus’,`O-Code’, ‘Twelve’,` Miniso Bangladesh’, ‘Yellow’, AMIRA ‘Texmart’, ‘Sailor’, ‘Trendz’ and a lot of others, the country’s fledgling apparel market is in a desperate search for footing. Companies like Beximco, Giant, Babylon, Amber, Pride Group, Milon Garment, and Smart Jeans Ltd, at all have already made their presence felt in the domestic apparel market.
RMG sector observers are hopeful of Bangladesh’s chance of getting back its former premier status among buyers in the RMG-importing nations. The two-year duration of the Covid-19 pandemic has reportedly sapped the inherent strength of many large RMG-exporting countries. A decline in normal output in the countries repeatedly hit by the corona pandemic might prompt the large apparel-importing countries to turn to their old trading partners like Bangladesh.
Local and foreign clothing brands are:
