Why- The fashion industry needs to change its practices to stay in the 1.5-degree pathway and this gives push to the need of awareness regarding sustainable initiatives. Aswe look towards a greener tomorrow in the fashion industry, the brands and major fashion houses need to implement sustainable strategies in their process to suit the changing consumer needs.
Read MoreWhy- Global consumer now demands more convenience and expediency. They want it now and they want it here. They are present on all types of social media and are greatly influenced by it. All this has a major implication for fashion industry around the world. The fashion players round the world need to focus on optimizing the consumer shopping experience, make the best use of the newsocial media channels, get digital ready and make sustainability their top priority.
Read MoreWhy- As the pandemic has changed the way we looked at retail, the need for AI intervention in the industry has increased. The global AI in the fashion market is expected to see exponential growth with a CAGR of 40.8% by 2024. As fashion brands rethink their strategies with a focus on AI, there is a need to look at the future of fashion and its changing norms.
Read MoreFundamental changes in consumer behavior are setting Business Leaders in motion to source closer to home on a need and demand basis, use alternate supply bases and products or reevaluate the suppliers. Supply chain leaders are trying to turn the complexity and disruption into meaningful change. Brands also have goals on sustainability which get passed to the T1 and T2 suppliers which adds to the cost of supply.
Why- As businesses respond to the immediate impacts of the pandemic and geopolitical issues, companies must develop a robust framework that includes a responsive and resilient contingency plan for the short as well as the longerterm period.
Read MoreWhy- India has always had a large Cotton value chain and is now gaining critical headway in laying out the synthetic value chain and this can assist both India and Bangladesh with diminishing reliance on the Far East and China in fostering an enormous amount of synthetic fabric and pieces of clothing. Also, India and Bangladesh are similar nations and with similar values and aspirations. Proximity should also lead to increased investments from both countries into each other. Govt. of both the countries can achieve mutual benefits through it and this would strengthen the bond between the two.
Read MoreWhy- As the Indian fashion market is witnessing an uptick in consumption, the brands have a bigger opportunity to reach consumers through the D2C model. The D2C model also brings order to the otherwise unorganized fashion sector hence increasing the revenues for brands.
Read MoreBangladesh also needs to look at adding categories, looking at a higher value addition in garments, expanding to man made fiber-based products while keeping up the efforts on sustainability and productivity improvement and at the base level on the infrastructure development. How prepared is Bangladesh to meet the projected growth numbers? What does the country need to do differently for the next stage of growth?
The session sheds light on the challenges and opportunities in the domain. The renowned speaker from BGMEA will address the key endeavors being planned to ensure a sustainable long term growth of the Industry in Bangladesh.
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