Wednesday, June 26, 2024

Local footwear pulls in top world retailers

Bangladeshi exporters look to brighter days ahead
Bangladesh’s footwear industry has attracted attention of globally known chain retails that now consider buying shoes from here in a bid to diversify their sourcing base.
Global retail chains such as JC Penny, Marks & Spencer, Tesco and Wal-Mart, which now buy clothes from Bangladesh, are contacting leading footwear exporters to widen sourcing along with garments, said exporters.
The interest of these buyers has opened up an opportunity for the leather and footwear industry to help propel exports by increasing volumes, reaching new markets and penetrating new segments of products, the exporters said.
“We are in talks with a number of global retail chain stores to make shoes for them,” said Nasir Khan, managing director of Jennys Shoes Ltd that exports to Japan and Europe.
“Top officials in charge of sourcing are visiting our factories. They are talking of buying big volume of footwear of mid to high price range,” said Khan, citing JC Penny, Marks & Spencer and Wal-Mart.
Sector leaders said the brands became interested in Bangladesh as they move to diversify sourcing destination in the wake of rising production cost in the world’s biggest shoe exporter China due to a hike in labour cost there and appreciation of its currency.
The exporters said buyers look for widening sourcing markets to maintain margins without increasing retail prices, which in turn has opened up opportunity for Bangladesh, which now sees rising exports from footwear due to a gradual shift in orders from China.
Availability of raw materials, a duty-free export facility to Europe and Japan, and lower production cost due to cheap labour are the reasons behind the shift in orders and spike in exports from footwear, a sub-sector under the $650 million export earner leather industry.
The leather sector is the fourth biggest contributor to the total export earnings.
In fiscal 2010-11, footwear exports posted a 46 percent growth fetching $297 million, up from $204 million the previous year, according to Export Promotion Bureau (EPB).
Footwear exports grew 42 percent to $139 million in July-October of 2011-12, compared to the same period a year ago, EPB data shows.
“Consistent exports of leather goods and footwear have helped earn a good image due to our product quality, competitive edge and workmanship,” said Saiful Islam, former president of Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB).
Currently, shoe makers export to various established and well-known retailers in Europe, US and Japan including Deichmann of Germany, Macys of the USA, and ABC Mart of Japan, and Timberland and Caterpillar.
“Our lead-time is lower than China which takes three months plus time. For us, it is two months because we have locally available raw materials,” he said.
President of LFMEAB Syed Nasim Manzur said: “Bangladesh has come up in the global map of footwear. It is a positive sign and important development for the entrepreneurs mainly for new entrants in the sector.”
Manzur, also managing director of a leading exporter Apexadelchi Footwear Ltd, said local footwear makers have so far marketed their products directly abroad.
But the interest of the general merchandise retailers, which have sourcing offices in Bangladesh, to buy non-garment items is a positive development, said the official of Apexadelchi.
The company exports to 130 footwear retailers and brands in over 40 countries in Europe, North America and Japan.
“This is an opportunity for Bangladeshi exporters to increase volumes, reach new markets and penetrate new segments. It is interesting to note that footwear and leather goods are regarded as accessories for clothing, hence there is natural synergy for sourcing,” said Manzur.
Islam said orders from retail chains like Marks & Spencer, JC Penny and others will facilitate expansion of the leather industry by creating more jobs and improving quality of footwear further.

-With The Daily Star input

Related News

Bangladesh set to launch direct flights with Switzerland

Business Desk : dhakamirror.com Bangladesh is set to launch direct flights with Switzerland with at least 14 flights operating between the countries per week. The Government of Bangladesh and the Swiss Federal Council in Bern inked an agreement to this end on 4 June, marking significant progress in expanding the country’s air travel network, reads ... Read more

Emirates eliminates online payment limit for flights in BDT

Business Desk : dhakamirror.com Emirates has made online payment more convenient for customers purchasing tickets in Bangladesh. Now, customers can use locally issued debit and credit cards to complete payment transactions online for flight tickets and enjoy the convenience of unlimited transactions in BDT. Customers can enjoy the ease of paying for tickets on emirates.com, ... Read more

Aziz Khan next chair of Unicef Int’l Council

Business Desk : dhakamirror.com Unicef has announced Muhammed Aziz Khan as the incoming chair of the Unicef International Council, succeeding the inaugural chair, Maria Ahlstrom-Bondestam. He will assume the position in November this year, a press release issued by Unicef said yesterday. The Unicef International Council is a unique community of approximately 150 private philanthropists ... Read more

NJ Diamonds brings vibrant luxury jewelry to Bangladesh

Business Desk : dhakamirror.com NJ Diamonds, a new luxury jewelry brand, has officially launched in the capital at Banani road 11. The event was a glittering affair, attended by top influencers and industry elites, marking a significant milestone for the Bangladesh jewelry market. NJ Diamonds, founded by Noorjahan Abdullah & Labiba Abdullah, are set to ... Read more

NCC Bank celebrates 31 years of operations

Business Desk : dhakamirror.com NCC Bank celebrated its 31 years of operations at the bank’s head office in Dhaka on Friday. Md Abul Bashar, chairman of the bank, inaugurated the 31st anniversary programme, said a press release. NCC Bank started its journey on May 17, 1993. “During the 31 year-long-journey, the bank played a remarkable ... Read more

21 winners receive gifts from Nagad’s mega campaign

Business Desk : dhakamirror.com A total of 21 winners have received different gifts by taking part in the country’s biggest transactions campaign – initiated by Nagad, a popular mobile financial service provider. Recently, Nagad’s Senior Executive Vice-President and Chief Marketing Officer Sadat Adnan Ahmad and Executive Vice-President and Deputy Chief Marketing Officer Muhammad Solaiman handed ... Read more

Hatil Chairman Selim H Rahman honoured with CIP award

Business Desk : dhakamirror.com Selim H Rahman, the esteemed Chairman and Managing Director of HATIL, a leading name in the furniture industry, was conferred with the prestigious Commercially Important Person (CIP) award for his pioneering contributions to the export of the furniture sector. The ceremony held at the Radisson Blu Water Garden Hotel, Dhaka, on ... Read more

Emirates announces first destinations for A350 service

Business Desk : dhakamirror.com Emirates has announced the first set of destinations to be served by its A350 aircraft entering service in September 2024. The airline plans to deploy its latest aircraft type to 9 destinations in the coming months, offering customers its latest signature cabin experiences.10 new A350s are expected to join the Emirates ... Read more

Adidas nearly ready to open outlet in Dhaka

Business Desk : dhakamirror.com Adidas, the German athletic apparel and footwear giant, is set to open its first outlet in Bangladesh this month at Gulshan-1 in the capital. The three-stripes will partner up with leading local conglomerate DBL Group, which will facilitate its entry into the Bangladesh market. “We have planned a soft launch on ... Read more

Shwapno opens new outlet in Pabna

Business Desk : dhakamirror.com Popular retail chain shop “Shwapno” has opened a new outlet in Pabna’s Sujanagar at Molla Super Market. The inauguration took place at 5:30pm on 30 December, reads a press release. Present at the event were Ahmed Firoz Kabir, Member of Parliament for Pabna-2 (Sujanagar, Aminpur), Chairman Shahinujjaman Shahin of Sujanagar Upazila, ... Read more

Shwapno launches new outlet at Bashundhara

Business Desk : dhakamirror.com Shwapno, the largest retail chain in Bangladesh, launched an outlet in the Bashundhara area on Thursday offering a month-long discount with a home delivery facility. On behalf of Bashundhara Group, media advisor Mohammad Abu Tayeb inaugurated the outlet as guest of honour at the Rupayan shopping centre in the residential area, ... Read more

With ‘Face ID’ and ‘Fingerprint’ login bKash app is now more secure, user-friendly

Business Desk : dhakamirror.com bKash app introduces biometric ‘Face ID’ and ‘Fingerprint’ login features to make users’ daily transactions easier and safer. Alongside, exciting new features – ‘Group Send Money’, ‘Request Money’, ‘Savings Marketplace’ and selecting ‘Default Card’ to use the ‘Add money’ service from VISA card to bKash – are also included in the ... Read more

Grameenphone wins ‘Bangladesh Sustainability Excellence Awards 2023’ in Financial Inclusion

Business Desk : dhakamirror.com It was an evening to rejoice and remember for Grameenphone at the Bangladesh Sustainability Excellence Awards 2023, as the organization’s sincere efforts with flagship initiatives GP Accelerator and GP Academy received due recognition. Renowned media house The Daily Star, along with CSR Window, honored the winners at the Bangladesh Sustainability Excellence ... Read more

Banglalink wins the best sustainability award

Business Desk : dhakamirror.com Banglalink has won the ‘Best Sustainability Excellence Initiative’ award in the ‘Disaster Response’ category at the ‘Bangladesh Sustainability Excellence Awards 2023,’ jointly presented by The Daily Star and CSR Window Bangladesh. The award is in recognition of Banglalink’s contribution to societal welfare through the innovative integration of an Early Warning System ... Read more

StanChart wins Mastercard Excellence Awards

Business Desk : dhakamirror.com Standard Chartered Bangladesh has clinched awards in three categories at the “Mastercard Excellence Awards 2023”. The categories are “Excellence in Mastercard Contactless (Issuing)”, “Excellence in Mastercard Credit Business (International)”, and “Excellence in Mastercard Business (Innovation)”. Naser Ezaz Bijoy, chief executive officer of the multinational bank, received an award from Atiur Rahman, ... Read more

Nagad wins Mastercard Excellence Award 2023

Business Desk : dhakamirror.com Nagad, a popular mobile financial service provider in Bangladesh, has clinched “Mastercard Excellence Award” 2023 for its contribution to credit card bill payments. The mobile money carrier has been honoured with this prestigious award as the “Master Evolution”, reads a press release. On behalf of his company, Nagad’s Executive Director Maruful ... Read more

Prime Bank clinches Mastercard Excellence Awards 2023

Business Desk : dhakamirror.com Prime Bank PLC, a leading private commercial bank of the country, has won Mastercard Excellence Awards 2023 for Debit Business (Domestic) category. Nazeem A Choudhury, deputy managing director of the bank, and Masudul Haque Bhuiyan, head of Cards & Alternative Delivery Channel, received the award from Dr Atiur Rahman, former governor ... Read more

Zakia Rouf Chowdhury elected as vice chairman of Bank Asia

Business Desk : dhakamirror.com Zakia Rouf Chowdhury has been elected as Vice Chairman of Bank Asia Limited recently at the 508th meeting of the Board of Directors of the bank. She has an illustrious business career of more than 35 years in the private sector of Bangladesh. Since inception, she has been holding leadership positions ... Read more

Yamaha celebrates 7 years with ACI Motors

Business Desk : dhakamirror.com ACI Marts is the sole distributor and technical collaboration partner of Yamaha motorcycles in Bangladesh. ACI Motors started its journey in 2007 as a subsidiary of renowned company ACI Limited. In 2016, Yamaha started a new journey in Bangladesh with ACI Motors. At present, more than 116 Yamaha 3S (Sales, Service ... Read more

Walton boosts TV exports to Denmark, Ireland

Business Desk : dhakamirror.com Bangladeshi global electronics brand Walton has boosted up its exports of television to Denmark, Ireland and other European countries as the demand of Walton television goes high in those countries in recent times, according to a press release. Walton Global Business Unit’s Vice-President Syed Al Imran said that Walton has been ... Read more