The BGMEA has signed an agreement to conduct a study with business consultancy LightCastle Partners on the feasibility of establishing a virtual marketplace platform for the RMG sector.

The study will be funded by IFC’s Partnership for Cleaner Textile (PaCT II) program, supported by the government of Denmark through the Danish International Development Agency (DANIDA) and the Embassy of the Kingdom of the Netherlands in Bangladesh.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The study will analyse the gaps in policies, market potential and readiness of the sector, and include a suitable business model and an action plan to implement operations.

A spokesperson for the trade body confirmed to Just Style the feasibility study into the platform would be used to determine the possibility of selling readymade garments that did not make their way through export channels in a bid to lower waste among other things.

Faruque Hassan, President of the BGMEA said: “Revolution in digital technologies has led to notable changes in the business landscape, creating new trends and opportunities, especially the rapid rise of the online marketplace. Companies have been increasingly going online with the advancement of digital technologies and Covid accelerated the pace of digital transformation, leading to a boom in the digital and e-commerce sectors. Adapting to the changing trade is the key to sustaining and seizing new opportunities. Developing a virtual market platform will boost sales of the RMG sector and rebound from the effects of the pandemic. This study will help to identify the challenges and opportunities of the sector to establish an online marketplace.”

See Also:

Zahedul Amin, co-founder and director, LightCastle Partners, added: “Bangladesh’s apparel sector must retain its competitive advantage by harnessing technology-driven market developments, in order to leapfrog ahead of its competitors.”