Primark, one of the largest fashion retailers in the UK, that outsources value-added textiles worth $900 million from 1000Â producers in Bangladesh wants to increase its outsourcing, especially more diversified value-added products, from Bangladesh.
A delegation of Primark is visiting Bangladesh these days. During the visit, the delegation besides interacting with its huge supplier base also visit the offices of various textile sector associations in the country. Sources say that brand looked keen on strengthening partnerships with suppliers in Bangladesh. They want to create robust backward linkages to achieve a “double transformation” in the value chain.
The retailer’s top officials disclosed that Primark intends to increase its presence in the United States market and for this purpose they want its textile products to be sourced from Bangladesh. While exploring the prospects of increasing the outsourcing of Business from Bangladesh the delegation would have also met the Commerce Minister Tipu Munshi on Wednesday morning at his secretariat office. Adviser to the Prime Minister on Private Industry and Investment Salman F Rahman was also present at that meeting, according to the ministry sources.
Information received to TEXtalks that Primark offered the Bangladeshi government the to work with Bangladeshi policymakers and exporters on GSP+ facility preparations. The industry officials urged the brand to assign more innovative high-end products by strengthening partnerships with suppliers in Bangladesh.
Primark currently outsources only a small part of its textile products to Bangladesh from its annual sales of $9.47 billion. Outside UK it has present in the US and 14 other countries. In the US it owns 20 stores that it aims to increase to 60 by 2026.
