Ananta Group (Bangladesh) investing in polyester fibre produce
Photo Courtesy: nastroy.net
One of the big fishes in Bangladesh’s apparel industry, Ananta Group is investing in the production of man-made polyester fibre to enter the sportswear market after the country’s big success in producing fan jerseys for the FIFA World Cup.
Up until now, Bangladesh’s apparel segment has been largely reliant upon natural fibre cotton – about 83 per cent according to industry insiders. There has been very little development on the man-made fibre segment, until very recently.
This year alone, Bangladesh earned US $1 billion from the export of jerseys made from man-made fibres, what is being thought of as a window of opportunity for the apparel makers. Likely, Ananta Group’s thoughts are on similar wavelength.
Ananta Group is going for construction work of its polyester manufacturing unit in Chittagong’s Mirersarai, into an allotted land of the Economic Zone, at the end of this year. It hopes to go into full production of polyester clothing by 2020 – most probably eyeing the sportswear market of the next FIFA World Cup in Qatar in 2022.
“We are investing into sportswear. This business of casual wear and knit wear is more profitable because consumers are more into it. We have already started work. We will produce our own polyester fibre here,” Sharif Zahir, a Managing Director of the Ananta Group says on June 25, 2018.
Primarily, according to what he said, Ananta Group will eye the market segment of European Union with the facility of the ‘everything but arms’ GSP facility.
According to what the industry insiders think, Bangladesh, with the advantage of low labour wages, can become one of the hotspots for sportswear, an apparel segment which is increasingly gaining foothold in the international markets.
However, there are concerns of fair pricing among the local producers.
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