Bangladesh’s DBL Group to invest in Vietnam to manufacture sewing thread
“The establishment of a sewing thread factory is a kind of support for our buyers, as many western buyers source from Vietnamese garment factories,” Jabbar was quoted by Bangladeshi media as saying.
The group now manufactures 10 tonnes of sewing thread a day, 80% of which is sold to other clothing manufacturers and the rest is used by the group’s own factories.
Bangladeshi garment company DBL Group will invest in Vietnam to manufacture its Eco-Thread branded sewing thread due to growing demand from buyers, according to group managing director MA Jabbar. It plans to start operating the Vietnamese unit within two or three years. However, he did not disclose the amount to be invested in Vietnam.
Previously, the group had invested in the garment sector in Ethiopia, but is now facing difficulties in operating this unit due to conflict there.
DBL Group exported garments worth $480 million in 2021 and by the end of this year, the group expects 25% more export revenue from garment shipments, Jabbar added.
Fibre2Fashion (DS) News Desk