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Benetton, an Italian fashion brand, plans to increase its sourcing of readymade garments (RMG) from Bangladesh.
Monica Joshi, head of operations at Benetton Asia Pacific Limited, said her company would source an increased volume of apparels from the local factories.
She expressed the willingness of her company at a meeting with Faruque Hassan, president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), at the trade body's Gulshan office in the city on Thursday.
BGMEA Vice President Miran Ali was also present at the meeting.
Highlighting the industry's capacity, the BGMEA president also stressed the industry's increased focus on diversification of products, especially non-cotton and high-end segments.
He requested Benetton to support and collaborate with their suppliers in Bangladesh to build their capacities in manufacturing apparel products having higher market demand.
He assured Benetton of all-out support from the BGMEA to expand its suppliers' base and increase sourcing volume in Bangladesh.
Mr Hassan also pointed out that increased prices of yarn, chemicals and other raw materials in the global supply chain have pushed up manufacturing costs of apparels.
In such context, he underscored the need for justified pricing and more empathy towards supply chain partners to make the supply chain sustainable.
Talking to the FE after the meeting, the BGMEA chief said buyers are now confident of placing fresh orders in Bangladesh due to its capacity, improved Covid-19 situation and timely supply of quality products.
Disruption in the global supply chain including recent electricity crisis in China also helped Bangladesh lure more buyers, he noted.
He, however, said the volume of apparels Benetton sources from Bangladesh is not much high but it would increase in future.
According to Benetton suppliers' list of 2020, a total of 33 local exporters supply readymade garments to the global fashion brand.