Kolkata, India (BBN)-Hosiery products manufacturer Rupa & Co is considering setting up its first overseas manufacturing plant in Bangladesh, a company top executive has said.
Though the plan is still at a nascent stage, the idea is to build a plant through a joint venture with a local partner, PR Agarwala, Chairman of the company, told Indian media.
As a first step, the company’s board has decided to set up a wholly owned subsidiary in Bangladesh. The plan would take shape in the next few years. The plant will make knitwear items for the Bangladesh market.
The company currently has one wholly owned subsidiary, Imoogi Fashions Pvt Ltd, which makes and markets inner and outerwear items for kids. Rupa exports its branded products to Myanmar, West Asia and African markets such as Nigeria and Ghana. Bangladesh, which itself is a key player in the global readymade garments market, could provide a new global marketing platform for Rupa, corporate analysts said.
The company has several manufacturing units in the country – Kolkata, Tirupur, Bengaluru and Gaziabad. It also gets some of its products manufactured through ‘job works’. The company is present in every step of the hosiery product manufacturing, including fabric, dyeing, cutting and stitching.
“We produce 7-8 lakh pieces a day. We feel growth is the key to stay ahead in a competitive market,” Chairman Agarwala was quoted by the BusinessLine as saying.
BBN/SSR/AD-26Nov14-11:09 am (BST)