Aurum, a concern of Knit Asia Group is an industry-leading sweater manufacturing organization, based in Bangladesh. The word “AURUM” in Latin means “GOLD”. So, its customers are considered as precious as gold, which is upheld by Aurum’s commitment to quality and on-time delivery. This fully 100% export-oriented sweater manufacturing unit is only an hour away by car from the Dhaka international airport (HSIA) making it an all-round centrally convenient location.
Recently Team Textile Focus met Amer Salim, Director of Knit Asia Ltd. He shared the recent scenario of the sweater market and the new business opportunity. A brief discussion is given below for our readers.
About the Sweater Market:
Our sweater market in Bangladesh has been growing for a long time, yet our exports are only around $6.5 billion. On the other hand, the global market for sweaters is approximately $100 billion, meaning we are covering only about 6%-7% of it. While we produce a large quantity, the value of the work done in Bangladesh is relatively low. As a result, we are not earning as much as we should.
Photo (from left): Md. Rakibul Islam, Sr. Manager, Textile Focus; Amir Salim, Director, Knit Asia Group.
What we need to do:
In contrast, countries like Vietnam and China produce less than we do but generate higher value, making their numbers significantly larger. We need to focus on that aspect as well. The factories in Bangladesh must think innovatively and effectively; otherwise, survival in the market will be difficult. If we fail to take such steps, our industry will never progress. Our country has a young and skilled workforce, but if we cannot bring them into this industry, we will not be able to survive. Previously, we had many excuses for our shortcomings, but those excuses are no longer valid. There are various policies in US trade and other global trade agreements, but we are not fully benefiting from them. We must be mindful of this. We need to stay updated on developments in our upcoming industries, adopt new technologies accordingly, and plan our machinery and production strategies in alignment with those advancements.
High Value Products: In our industry, we currently work with high-value products. Due to the emboss print with a wash effect, many industries do not want to take on this type of order, but we handle them. One of our expensive products is 100% Merino wool, which we use to make sweaters. Additionally, we import fabric from Taiwan for inside sewing. Among our high-value products, we also produce polo shirts using sweater machines. One of our special products includes whole garments—sweaters made entirely with sweater machines without any stitching.
