M&S plans to buy more 'High-End Garments' from Bangladesh

03 December 2021, Mumbai:

Marks and Spencer (M&S) Group, a major British multinational retailer, revealed plan to purchase more high-end garments from Bangladesh aiming to diversify its products, according to Retail Gazette, a fashion-based British online portal.

The retailer’s country manager, Shwapna Bhowmick said M&S currently purchases over £1 billion worth of garment items from Bangladesh each year – making the country as the largest sourcing destination for apparels for M&S.

The company wanted to buy more garment items from Bangladesh because of the commitments of the suppliers and the diversification of products.

“We are no longer interested in basic garments,” Shwapna said.

While speaking at a session on the garment industry at the recently held International Investment Summit, organised by the Bangladesh Investment Development Authority, she suggested the easing of doing business.

Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan called for signing free trade agreements, preferential trade agreements, and other regional trade agreements with trading partners to retain the duty-free export facility after graduation of the country from a least-developed country to a developing nation in 2026.

Business Insider,BD (The news article has not been edited by DFU Publications staff)

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