Apparel Online Bangladesh Magazine December Issue 2018 | Page 42

BANGLADESH CANVAS
Pacific Jeans on an expansion spree; two new
units in the offing
Pacific Jeans, one of Bangladesh’s
renowned denim manufacturers, is
reportedly planning to come up with
two new manufacturing units in
Chittagong in next couple of years.
To be built at a cost of US $ 100
million, the two units – Pacific
Knitex and Pacific Casuals – will
reportedly produce fabrics and
activewear respectively. “Activewear
is not a traditional garment product.
Rather, it is a specialised product
that Bangladesh is yet to explore,”
stated Director of Pacific Jeans
Syed M Tanvir, while speaking to
the media underlining the
company’s intent of diversifying its
product offerings.
It may be mentioned here that in
an earlier interview with Apparel
Online, Tanvir had observed that
considering the country’s growth
and maturity, when it comes
to denim, from here on it will
be all about efficiency, product
development and innovation for
the denim sector. The company
as such has invested heavily
in product development and
innovation. It has set up its own
PD team dubbed ‘Pacific Jeans
Innovation Centre’, which works
in close collaboration with the
leading fashion designers of
premium denim brands from US,
EU and Japan to come up with
value-added innovations, besides
taking help of strategic partners
in different geographical locations
to get real time information on
trends, forecast and developments.
As to Pacific Jean’s new venture
to produce activewear, Tanvir is
reportedly expecting good business
in light of activewear strongly
emerging as a very prospective
product category due the recent
global trend of active and healthy
lifestyle. As per a study by US-
based market research firm
Research and Markets, the global
activewear market, valued at US $
351.164 billion in 2017, is expected
to grow at a CAGR of 6.5 per cent
between 2017 and 2023 to reach US
$ 512.39 billion.
Cotton trousers make up 27 per cent of Bangladesh's
apparel exports to US in 2018
Cotton trousers made up for 27
per cent of Bangladesh’s total
apparel exports to the US, the
country’s single biggest export
destination in 2018.
According to latest data
of OTEXA, Bangladeshi-
made cotton trousers fetched
US $ 1.13 billion during January-
September 2018, what was an
impressive 9.31 per cent gain
on a year-to-year basis in
comparison to the same time
period last year.
Data shows that during the said
period, Bangladesh’s apparel
exports to the US amounted
to US $ 4.16 billion, up by
5.84 per cent from last year.
The major garments export items
were cotton trousers, cotton
dresses, knit blouses, slacks,
cotton underwear and sweater.
Further analysis shows that
slacks marked a significant rise,
fetching over US $ 59 million.
This sum was an impressive
9.32 per cent gain from US $ 54
million during the said period
in 2017.
On the other hand, export of
woven shirts declined during
January-September 2018. It
fetched US $ 41 million during
this time, down by 1.14 per cent
from the previous year.
Cotton-made underwear was
perhaps the biggest falling point,
losing 8.74 per cent during the
said period and fetching US $ 17
million. Last year, the sum was
US $ 19 million. Bangladesh’s
apparel export to the US is
currently gaining for what
industry stakeholders believe
to be the pursuit of China plus
sourcing strategy. Also, the
recent trade war between the
two giant economies is proving
beneficial for Bangladesh.
Apparel Online spoke to
Mohammad Hatem, Vice-
President of Exporters
Association of Bangladesh, and
Mohammed Nasir, Vice-President
(Finance) for Bangladesh
• Export of slacks gain
by 9.32 per cent
• Woven shirts fall by
1.14 per cent
• Underwear exports
slide by 8.7 per cent
• Overall apparel
exports gain
by 5.8 per cent
42 Apparel Online Bangladesh | December 2018 | www.apparelresources.com
Garment Manufacturers and
Exporters Association (BGMEA)
in this regard.
Both of them believe that the
apparel export to the US is rising
because of the two said factors.
They say the void that is being
created because of this is too large
to be filled by emerging suppliers
like Bangladesh and Vietnam. But,
they unilaterally said that this is
an opportunity for Bangladesh.