Merchant Bay, an online B2B global apparel marketplace, has launched an initiative of Sayem Group, which has been involved in garment export for over 20 years.
The platform brings the buyers and sellers under one roof with the help of information technology.
Around 1,170 garment and textile suppliers have joined the Bitubi platform out of which 700 are garment factories and the rest are textile and equipment manufacturing factories and wholesalers.
The platform added 300 organisations and is also contacting thousands of local and foreign brands and buyers.
The Merchant Bay website consists of detailed information, about the suppliers and information of various products. The information can be utilised by the buyers to easily search for the desired suppliers and can also place purchase order directly from the platform.
Also, the orders can be placed through Merchant Bay Authority, where in this case, the company will act as a buyer like a buying house.
The suppliers and buyers will have to register online for free if they want to join the platform after which the staff of Merchant Bay makes the next move and gives them final approval to use their platform.
The verified suppliers then have to annually pay 20,000 Taka.
The platform extends the opportunity for the buyers to check the price of clothes and equipment online. This allows them to check for the competitive pricing and better deals.
It is also planning to include various digital services to increase production capacity and improve the management of the factory. For now it has not started its international buying and over the next year will focus on building trust between buyers and sellers.