An annual turnover of US $ 15 million may not be big for a company in Bangladesh but Knn Linkuowned Caretex is a decade-old garment exporting company from Bangladesh with a rich experience of sourcing variety of products for its clients from across the globe. The rich experience may have paid higher dividends in terms of turnover and profit but because of an early setback, Linku had to restart his business from scratch with full conviction and determination to resurface again to build a rich clientele. “Currently we are working with Japanese and Korean clients; one amongst them has a chain of around 11,000 stores spread across China and Korea,” maintained Linku dwelling on his current buyers. Walmart, Inditex, Next and Celio are also amongst his patrons.
Not content with merely providing for the big names, his plans are now to introduce his own products. “We already have CRT (short form for Caretex), and our second brand is on the cards,” says Linku, who wants to launch them in the global perspective, including Europe. Weak Euro, sluggish economy compounded by terror issues, however, have put spanner on his European endeavours. “I am biding my time now and concentrating on the existing portfolio,” maintains Linku, who is hopeful that things would change soon for the better. “American economy is stabilising and hopefully market conditions of Europe would also improve,” says Caretex’s CEO, whose target is UK and Germany amongst others for the product launch.
Not the one to undermine the threat of competition and the challenge it poses to the very survival and sustenance, Linku’s business mantra is specialized garment to ensure growth and prosperity. “In basic garments, there is not much profit right now with multitude of competitors, so we are looking at the specialized sections to help our cause better,” Caretex’s CEO maintains. Seamless underwear and sock manufacturing are some of the avenues that he’s open to explore. “Seamless underwear is very popular in countries like Japan and Korea. However, the issue is producing this particular range of intimates that require very expensive dyes which have to be sourced internationally. Also, with a change in style the requirement of dyes alter. But if we manage to bag bulk orders, I will think of sourcing the dyes indigenously which would make it a profitable business proposition,” maintains Linku rather optimistically. About producing socks, he says, “We are also seriously evaluating socks manufacturing and held discussions with a few machine suppliers in this regard already.”
Also, considering the overwhelming demand for hi-tech workwear, Linku is not overlooking this section either. “Demand for high-tech garment is very encouraging, especially overseas. We have some customers who are looking for some filament fabric and anti-bacterial fabrics,” says Linku adding, “We are also in talks with a UK-based company which require electromagnetic radiation resistant workwear or EMF clothing (which shields against electromagnetic radiations); we have already cleared the mandatory tests and awaiting the orders now. Once it is placed, we will start supplying,” he maintained. Aiding his plans of innovation and expansion is the thriving scenario at home, which he concludes is conducive for new and innovative endeavours. “So far as Bangladesh is concerned, its biggest plus point is its huge young population which translates into abundant and cheap labour. Also being in garment manufacturing for quite some time now, the people here are very experienced; the factories have become more sophisticated; most of them are set up vertically with strong backward linkages. There’s also no issues of child labour, lead time have improved significantly; besides we have become more self-reliant over the years,” pointed out Linku ending his insightful conversation with AOB on an optimistic note .
AOB PICK OF THE MONTH
Offloading Stress! Badminton Court in Factory Premises How often does one come across a garment factory with a badminton court? Not too many for sure! Knit Concern Group however is an exception. Spending more than 12 hours in his factory located in Narayangonj, Joynal Abedin Mollah, President & CEO of the group, has put in all his efforts to make it feel like home. So much so that the factory boasts of a worldclass badminton court today, set up especially to rejuvenate oneself after a long day at work. Thanks to this new addition, Joynal, a firm believer of the adage ‘health is wealth’, does not have to negotiate the infamous Narayangonj traffic any more to reach his favourite sports club or gym. What’s more, after sweating it out in the badminton court, there is also provision to freshen up at the showers, installed next to the court. Focusing on value addition and multiple style management for sustainable growth, Knit Concern Group since its inception in 1990, has seen consistent growth and today the group holds 100+ garmenting lines with facilities from yarn to finishing in both woven and knitted garments along with lingerie products, which it ventured into in 2012. “In order to deliver quality products, we firmly believe in the slogan ‘Knit to Young’, which means not getting old, by adapting new machines and equipments that come into the market; we are always new and changing,” says Joynal.
Between all these investments, Knit Concern is continuously involved in strengthening its systems and working conditions. “The buyer knows that if you go for good machinery, systems, planning and facilities, you can survive and run the business successfully. It is our own business strategy to grow ethically while increasing our output that has strengthened our resolve to be a preferred supplier,” avers Joynal who believes in giving conducive and comfortable environment to his 12,500 workforce and himself! Key Facts Group Turnover: US $ 90 million (2014) Buyers: H&M, K&L Ruppert, Fashion Fit, Bonobo, Jacadi Paris Total Factory Space: 18 acres
Post a Comment