The recovery for the footwear sector is still in the slow lane as it continues to struggle with the fallouts of the COVID-19 pandemic amidst low demands in both domestic and global markets.
Media reports maintained this citing industry insiders, who said that people’s purchasing power has taken a hit owing to the pandemic and they are refraining from buying footwear unless necessary.
As per reports, due to the pandemic, the sector has witnessed over 40 per cent fall in sales with names like Fortune Shoes, Fortuna, Bay, Bata, Apex Footwear, Walkar, Orion, Falcon, Zeils, Shampan, Crescent, Vibrant, Leatherex, STEP, etc., reportedly, going through some trying times amidst lower presence of customers and exports to major export destinations taking a hit as second wave of the coronavirus pandemic continues to surge in those countries forcing many to impose lockdowns and restrictions to control the pandemic.
Nevertheless, with the vaccine for coronavirus rolling out, industry people are hopeful of things turning for the better.
Speaking to the media, the Chairman of the Bangladesh Finished Leather, Leather Goods and Footwear Exporters Association, Mohiuddin Ahmed Mahin said that by April 2021, things might get better as coronavirus vaccine has rolled out in many countries already.
