The quality of fabric and denim in Bangladesh is excellent compared to competitive countries like India, Pakistan, and Vietnam which helps Bangladesh to be a top denim exporter to USA and EU. Country’s denim industry stands on solid ground with huge potential and sustainable products. Strong demand for denim products in the global market is quite supportive for future growth, and leading companies are planning to increase their production capacity to meet the demand. Textile Today was in a conversation with Eng. ASM Hafizur Rahman Nixon, ED of RH Corporation. Some insights of the conversation are pointed out here.
Recent demand in denim industry
All demand is now focused on sustainability and recycling. Sustainability and recycling are now a buzzword in this industry. Also, cost-effectiveness is mandatory in this competitive market. The R&D team in the factory is playing a key role in maintaining sustainability and reducing costs. Proper utilization of investment will make it easier to achieve both goals.
Bangladesh’s denim industry is mature. BTMA, BGMEA, and this expo have provided the next step in denim product diversification. The major manufacturers of the denim industry in Bangladesh are already supplying world-class products. Our industry mainly needs strong marketing and manufacturers should build bridges so that they set benchmark prices for garments.
Impact of the Russian-Ukrainian war
The EU and US are the largest market for the denim industry in Bangladesh. The industry is expanding in the other markets focusing on further market diversification. But this warfare hinders the smooth business.
Solution of raw material prices hike
For the overall situation in the world, business supply chains are mostly disrupted. There is no specific solution to reducing the price of raw materials overnight.
Buyers and brands’ role to mitigate the impact of raw material prices hike
Global brands also have a sales market. Brands can’t push prices to consumers either it depends on the purchasing capability of the consumer. But brands can promote our sustainable products for better prices. So, in this crisis of rising raw material prices, manufacturers can get their fair price.
CHT is providing innovative solutions for the industry. Raw material suppliers are facing major challenges due to rising prices and disruption of the overall supply chain. CHT is taking the necessary steps with new innovative products to support the industry along with other alternative solutions. CHT products are brand nominated and have long-term benefits for manufacturers. In this crisis, only new innovative product can survive in the market.