Japan-based business conglomerate Toray International Inc (Toray Group) is increasing its apparel sourcing from Bangladesh, and now it is looking for joint ventures in the manufacturing sector, with the company placing more orders in Bangladesh.
This global textile company, which has a turnover of more than US$ 5 billion, has increased its sourcing by 55-60 per cent annually from Bangladesh. As of now, its annual sourcing from Bangladesh is to the tune of around US$ 100 million, while globally it buys US$ 1.5 billion. Major portions of its buying takes places from China and the rest are from Vietnam, Myanmar. Recently it started sourcing from Ethiopia as well.
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While speaking to Apparel Resources, Mahmudur Rahman Mamun, Country Manager, Toray International, Bangladesh Liaison Office, said, “The market is good, and we are growing with each passing year. Further on, we will keep increasing our sourcing from Bangladesh, and for manufacturing we are looking for joint ventures to accommodate orders that are out of our capacity. We are ready to invest 20-30 per cent in these strategic partnerships. With these investments, we look forward to better quality and continuous production support. We are a fast-thinking company. From Bangladesh, the company mainly sources for Japanese markets, and we supply to Uniqlo (functional innerwear mainly). The company owns one factory in Bangladesh, which started operation almost six years back, and now its capacity is 20 million pieces annually. The company is associated with six other Bangladeshi exporters who produce for it.
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