BANGLADESH: UNREST FORCES GARMENT BUYERS TO FLEE
December 5th, 2013
BANGLADESH’S garment makers face a drought of summer 2014 orders as western retailers have begun fleeing the South Asian nation after recent political violence and a physical attack on Spanish buyers.Top industry leaders said that global buyers, seeking stable alternatives, have already diverted 30%-35% of orders to Bangladesh’s rivals, with India, Indonesia and Vietnam emerging as winners.For instance, India’s garment shipment posted 21% growth in November while Bangladesh’s textile producers struggle to lure back runaway retailers.“They [buyers] want ...
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