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The foreign buyersare coming back

August 18, 2020
PViews:771

New work orders are coming to the Bangladesh

apparel industry. Many factories have received

enough orders to work until September. As a result,

the apparel industry is slowly turning around.

The amount of purchases that are coming now is said

to be good by the owners of the garment industry. At

least eight factory owners said that 70-80 percent of the

purchase orders are coming back compared to last time.

Garment exports have taken a turn in June as

many big brands have resumed buying suspended

and cancelled orders. However, there is still some

uncertainty as the risk of global COVID-19 infection

has been reduced and no vaccine has been discovered.

Garment factories were closed for a month it

exported only $370 million worth of clothing in April,

the lowest in two decades. The next month, garments

worth $1.23 billion were exported. In June, it rose to

$2.25 billion. Even then, in the outgoing of the 2019-20

fscal year, garment exports amounted to $27.95 billion,

which is $6.17 billion less than the previous year.

 

 

 

The Pacifc Jeans Group in Chittagong has exported

about $400 million worth of garments in the 2019-

20 fscal year. Their exports have not decreased or

increased compared to the previous fnancial year.

Syed Mohammad Tanvir, Director of Pacifc Jeans,

said that their factory has 60-70 percent of the

purchase order compared to the last time. He said,

there are purchases order till September.

On condition of anonymity, an experienced

entrepreneur said that he is not worried about the

purchase order until September. Like last time, there

are purchase orders in the factory. The purchase

orders have not decreased due to the COVID-19, rather

he has received purchase orders from two new buyers.

Another big company in the garment sector is Rising

Group in Dhaka. They export about $130 million in a year.

Mahmud Hasan Khan, Managing Director of Rising

Group, said that their buyers have started taking the

canceled and suspended orders’ products. However,

they had to pay a discount of USD 460,000 to one

of their buyers.

Mahmud Hasan Khan added, "We were horrifed when the purchase order was canceled and

suspended at the beginning of the pandemic.”

The BGMEA, an association of garment industry

owners, said that garments worth $970 million had

been exported from July 1 to 12. Garments worth $119

million were exported during the same period last year.

Envoy Group is another big exporter of garments in

the country.

Abdus Salam Murshedy, former President of BGMEA,

said that even though the big factories have received

orders to survive, the small and medium factories

are not getting the same. So they need at least two

months of support for their workers' wages.

Last month, BGMEA and BKMEA, two garment

industry owners' organizations, demanded fresh

money for wages for July, August and September.

According to BGMEA, a $316 million garment

export order in Corona was initially canceled

and suspended. Of these, Primark canceled and

suspended $38.91 million, Inditex $1.02 million,

Bestseller $978669, Mothercare $660307, Kohls

$636724, Gap $448065, Jesse Penny $412692,

Walmart $224032, Debenhams $212241 and Ralph

Lauren $117912 (the amount is estimated).

 

(This article is reproduced on the Internet, the purpose is to spread the knowledge of the apparel industry, it does not represent the company's point of view. If copyright issues are involved, please contact us within 30 days, we will delete the article as soon as possible.)

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