Amidst resurgence of COVID-19 cases that has led the Bangladesh Government to impose a 7-day countrywide fresh lockdown to curb the spread of the contagion, local brands and retailers are in fear of incurring huge losses.
According to media reports, as the lockdown kicks in from Monday (5 April 2021), owners of local fashion brands are apprehending the lockdown will disrupt sales and cause significant business loss.
Meanwhile, speaking to the media, Monsoor Ahmed, who is the Bangladesh Textile Mills Association (BTMA) Secretary, reportedly, said that apparels worth at least Taka 30,000 crore are sold in the local market during festivals of Bengali New Year and Eid-ul-Fitr even as according to local traders, on Pahela Baishakh, about Taka 20,000 crore is transacted on average every year, while during Eid-ul-Fitr the transacted amount is several times more and went on to add that around 70 per cent of the local clothes are sold during these two festivals even as they expressed fears that that if they incur losses this year too like the previous one, hundreds of thousands of entrepreneurs will be out of business for good.
