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Crony Group has set up a ‘fair price shop’ at its factory premises to sell daily commodities at a discounted rate for some 10,000 workers.
The move came in collaboration with Apon Wellbeing Ltd and the Cotton Group, the parent company of Belgian buyer B&C collection, said a statement.
Crony Group, Apon Wellbeing and the Cotton Group, have inked a memorandum of understanding in this connection to ensure a 25 per cent discounted grocery basket, consisting of rice, oil, lentils, salt and noodles.
Apon Wellbeing Ltd has also guaranteed regular customers health insurance worth Tk 20,000 and a 5.0 to 10 per cent discount on other goods, it added.
The discounted grocery basket price is Tk 743, compared to a market price equivalent of Tk 991.
Crony Group Chairperson and BGMEA Director Neela Hosna Ara, The Cotton Group Managing Director Murielle Degeest and Apon Wellbeing Ltd Head of Growth Yasir Arafat signed the MoU at Crony Group premises, added the statement.
Crony Group Managing Director A.H. Aslam Sunny and Tom Tailor Country Manager, Fikreta Kicki Tutic were also present on the occasion.
“The Fair Price Shop aligns with Crony Group’s mission of empowering our greatest asset, our workers. I would like to thank The Cotton Group for their generous donation of 20,000 USD as a subsidy for essential groceries and Apon Wellbeing Ltd who will operate the store and provide health insurance to workers,” said Md Ara.
Murielle Degeest said, “The Fair Price Shop will give workers the chance to buy key necessities at preferential prices (and access to things such as medical insurance too) means that they are truly investing in the real improvement of their living wage, and therefore the lives of their families too. It’s a privilege to be part of something that can impact so many people.”
“Apon was born to improve the lives of the backbone of our country, industrial workers. We are gradually growing our well-being initiatives to more workers, who are the heart of the fashion industry. So far, we have spread this well-being scheme through 29 Fair Price Shops. We look forward to working with more factories to further Sustainable Development Goals.” Said Yasir Arafat.
The Fair Price Shop is located in Abanti Colour Tex Ltd and Crony Tex Sweater Ltd and is available to all factory workers. Workers will be able to purchase goods using credit, which will be adjusted with their salaries in the next pay cycle, alleviating financial pressure.
The shop opens in a time of inflationary pressure with the mission to improve the lives of factory workers by offering easy access to groceries and lower-than-market prices.