Apparel Online Bangladesh Magazine April Issue 2019 | Page 26

EXPORTER PERSPECTIVE THE LATEST NEWS HAVE YOUR SAY For the latest news on apparel and textile, make sure that you visit https://apparelresources.com/top-news/ Write to Apparel Resources, B-32, South Extension-1, New Delhi (110049), India or email: [email protected] ABANTI COLOUR TEX’S SUCCESS MANTRA Moving Beyond Basic to Foray into Value Addition E ffective pricing is essential for any business, but given the fact that almost 70 per cent of the exported garment items from Bangladesh fall into the basic category, price received from retailers is low and so are the profit margins. As per industry insiders, even though volume of exports has grown significantly over the years, value-wise, there’s been hardly any gain to talk about. What’s more! After the recent hike in workers’ wage, in addition to rising production cost and downward price pressure by the international retailers, garment makers’ profitability has hit rock bottom. So what’s the way forward? “Bangladesh is in the business of garment manufacturing for more than 30 years; it is time we move up the value chain. Basic products are no longer sustainable due to poor profit margins,” answers A.H. Aslam Sunny, Managing Director, Crony Group, which started operations with four sewing lines to emerge as a leading composite set-up with a capacity of producing over 2,00,000 pieces of garments per day and employing over 15,000 employees in nine different sister concerns today.  Bangladesh is in the business of garment manufacturing for more than 30 years; it is time we move up the value chain. Basic products are no longer sustainable due to poor profit margins.” – A.H. Aslam Sunny Under the visionary leadership of Sunny, Crony Group added nine more entities including subsidiaries like Abanti Colour Tex Ltd., Crony Tex Sweater Ltd., S.S. Cotton Fabrics Ltd., Crony Apparels Ltd. and Crony Embroidery & Printing Ltd., all of which are associated with apparels, thanks to his business acumen and far-sightedness. 26 Apparel Online Bangladesh | APRIL 2019 | www.apparelresources.com A.H. Aslam Sunny, Managing Director, Crony Group