The recent political turmoil in Bangladesh, centered on the quota reform movement that led to the ousting of the Sheikh Hasina-led government, has surprisingly not deterred global fashion brands from increasing their sourcing from the country. Despite the unrest, brands from Europe, America, and East Asian countries have actually increased their orders from Bangladeshi exporters. This unexpected trend has been attributed to exporters maintaining communication with brands and going above and beyond to meet export deadlines during the political upheaval.
One significant factor that has contributed to the positive image of Bangladesh in the eyes of global brands is the appointment of Nobel laureate Professor Muhammad Yunus as the head of the interim government. This move has elevated the brand image of the country, leading to increased confidence from international buyers. US brands such as US Polo, Gap, and Express have all ramped up their sourcing from Bangladesh, with Korean brand BYC also entering the market.
Giant Group Managing Director Faruque Hassan shared that US Polo, the largest buyer of his company, has increased orders beyond expectations, with their orders now occupying about 40% of their capacity. During the internet blackout imposed by the ousted regime in July, Hassan sent top officials to the US Polo office to explain the situation in Bangladesh, which helped retain the buyer’s confidence and secure more orders.
Similarly, Shovon Islam, managing director of Sparrow Group, mentioned that three US buyers have increased their orders, with Express also increasing its sourcing after emerging from bankruptcy. Md Sharafat Hussain Sohail from Masco Group revealed that a top Korean brand is considering sourcing from Bangladesh for the first time, showcasing the growing interest in the country as a sourcing destination.
Despite the positive outlook, some exporters are still concerned about the ongoing protests and political instability in Bangladesh. Pacific Jeans Group Managing Director Syed Mohammad Tanvir expressed worries that some future orders may move elsewhere if the situation does not stabilize. Additionally, some companies like Beximco and NASA may lose orders due to recent financial sector irregularities linked to the ousted regime.
Industry leaders have also highlighted challenges such as electricity and gas shortages, as well as container congestion at ports and airports, as major hurdles facing the apparel industry in Bangladesh. However, they remain hopeful that if the interim government addresses these issues, the industry will be able to increase its global market share and attract more international buyers.
In conclusion, despite the recent political turmoil in Bangladesh, the appointment of Professor Muhammad Yunus as the head of the interim government has positively impacted the country’s brand image, leading to increased sourcing from global fashion brands. With exporters working diligently to meet deadlines and maintain communication with buyers, Bangladesh’s apparel industry is poised for growth and success in the global market.
