Clothing exporters in Bangladesh should invest without delay in product design and innovation to climb the global value chain and get better prices, said a senior US cabinet executive Marketing and fashion consulting.
"Time is running out for Bangladesh," Prasenjit Tito Chowdhury, Managing Director of FashioNXT, told The Daily Star in an interview
At present, a Western buyer buys a $ 2 product from Bangladeshi manufacturers and sells it at $ 25 only because of the country 's shortcomings in innovative designs and the failure to add The value to the products.
If the country fails to address the value chain issue earlier, international buyers will continue to tighten exporters further.
Chowdhury said he urged Bangladeshi entrepreneurs to focus on product design and development, but they do not seem to be very enthusiastic.
"Collective initiatives of entrepreneurs, universities and government are needed. Otherwise, we will continue to rely on Western buyers for drawings."
Value added by design and product development should be a survival strategy for the garment sector in Bangladesh, said Chowdhury, a graduate of the prestigious Bangladesh University of Engineering and Technology
"If we do not, we will lose markets to our competitors and face new pressure from buyers."
The governments of China, India and the Philippines are promoting their designers globally, to a large extent, said Chowdhury
Countries like Vietnam, Cambodia and even Myanmar are preparing to build their own value chain to get better prices for their products
"But there is no such effort from Bangladesh. We need initiative and a plan – we have to go out to the outside world to talk to them about our clothing industry and Of the products. "
Chowdhury went to the United States in the mid-1990s, where he worked at Intel for 15 years on high-speed microprocessor circuit design.
At the American technology company, he learned all types of digital circuit design, which encouraged him to join FashioNXT in 2006.
FashioNXT has become a well-known showcase and brand enhancement platform for fashion, lifestyle and technology companies in the United States. He organizes fashion weeks in Portland in October of each year.
At the event, designers from across North America unveil their collections for the upcoming season.
The event also attracts designers from Colombia, the Philippines and China.
So much that the mayor of Portland, Charlie Hales, announced FashioNXT as the official fashion week of the city.
FashioNXT can help Bangladesh acquire knowledge about drawings and fashion and connect the country 's entrepreneurs to the global fashion industry.
"FashioNXT presents an innovative fashion experience in Portland and the world takes the view."
Chowdhury received the Mayor of Portland Mayor of Portland Award 2008. The event was featured in the TIME magazine issue of October 15, 2012 as the best fashion week in the US at The outside of New York City
He said what is next in fashion today is portable technology. "Fashion technology is the future."
FashioNXT launched an initiative, UpNXT Emerging Designers Accelerator Program, to nurture promising talents. The largest area of Portland is clothing but there is no program to help designers thrive.
"UpNXT is an amazing thing. As part of the initiative, we identify the best of the best .We help designers as many do not know how to navigate the industry."