M&S plans to buy more 'High-End Garments' from Bangladesh
_large.jpeg)
03 December 2021, Mumbai:
Marks and Spencer (M&S) Group, a major British multinational retailer, revealed plan to purchase more high-end garments from Bangladesh aiming to diversify its products, according to Retail Gazette, a fashion-based British online portal.
The retailer’s country manager, Shwapna Bhowmick said M&S currently purchases over £1 billion worth of garment items from Bangladesh each year – making the country as the largest sourcing destination for apparels for M&S.
The company wanted to buy more garment items from Bangladesh because of the commitments of the suppliers and the diversification of products.
“We are no longer interested in basic garments,” Shwapna said.
While speaking at a session on the garment industry at the recently held International Investment Summit, organised by the Bangladesh Investment Development Authority, she suggested the easing of doing business.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan called for signing free trade agreements, preferential trade agreements, and other regional trade agreements with trading partners to retain the duty-free export facility after graduation of the country from a least-developed country to a developing nation in 2026.
Business Insider,BD (The news article has not been edited by DFU Publications staff)
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
- Flipkart, an Indian e-commerce company, collaborates with PUMA on the ‘1DER' line, which features batsman KL Rahul
- Consumers will determine growth of sustainable fashion e-comm in India
- Myntra to offer 1 mn styles from about 7,000 brands at the 'Big Fashion Festival'
- Maharashtra government honors VIP as 'Best Innerwear Brand' for 2021-22
- Nike strengthens retail presences with new store at DLF Mall of India,Noida
