Bangladesh eyes US $130 billion worth smart clothing market
Bangladesh Fashionology Summit 2019 is going to be organised on 2nd May at the International Convention City Bashundhara (ICCB) in the city with the aim to firm the footings of Bangladesh to fetch its share in the US $130 billion market, reports Daily Sun.
Bangladesh is currently the second largest apparel exporting country in the world which exported apparel worth US$ 32.92 billion last year.
But the lion share of this export is comprised of five basics items i.e. shirt, T-shirt, trouser, denim and sweater. “The recent increase of wages and the cost of production have made it inevitable for the apparel manufacturers of the country to concentrate on value added products.
The 130 billion dollars smart clothing market is an area we need to focus on to survive and thrive,” said Mostafiz Uddin, the founder and CEO of Bangladesh Apparel Exchange (BAE) which is organising the summit.
The second Bangladesh Fashionology Summit endeavors to inspire the apparel industry of Bangladesh to step into the future of fashion by bringing fashion tech leaders from across the world. The Summit has already set the stage for the discussion through its first edition held on 12th February 2018 which focused on concepts like Factory of future, virtual prototyping, fashion tech and sustainable innovation, mass customization and on demand manufacturing. The theme of this second edition of the Summit is chosen – ‘Digitalization - The Next Destination’.
The summit will also present a unique platform for start-ups to demonstrate their cutting edge innovation in fashion. An exclusive “Digital Tech Fashion Runway Show” will also be organized in the Summit where smart wearable by world’s renowned fashion tech designers will be showcased on ramp.
Moreover, a tech innovation zone will be set up in the Summit to display latest technologies and innovation in fashion. C&A Foundation, The Kingdom of Netherlands Embassy in Bangladesh, Embassy of Denmark in Bangladesh, Ethical Trading Initiative (ETI), Sustainable Apparel Coalition (SAC), International Apparel Federation (IAF), United States Agency for International Development (USAID), Access to Information (a2i), Ministry of Foreign Affairs, People Republic of Bangladesh (MOFA), Deutsche Gesellschaftfür Internationale Zusammenarbei (GIZ), Pivot, Lectra, Sindabadand, fashion giant H&M, C&A are supporting the 2nd Bangladesh Fashionlogy Summit.
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