Crony Group Sets up Fair Price Shop at Factory Premises in Collaboration with Apon Wellbeing Ltd and The Cotton Group

Desk Report: Crony Group has opened a Fair Price Shop in their factory premises which will sell daily commodities at discounted rates for 10,000 factory workers.

The Cotton Group, the parent company of Belgian buyer B&C collection and Apon Wellbeing Ltd have entered into a contract with Crony Group to ensure a 25% discounted grocery basket, consisting of rice, oil, lentils, salt & noodles. Apon Wellbeing Ltd has also guaranteed regular customers health insurance worth 20,000 BDT and a 5-10% discount on other goods.

The discounted grocery basket price is 743 BDT, compared to a market price equivalent of 991 BDT.

Crony Group Chairperson and BGMEA Director Neela Hosna Ara, The Cotton Group Managing Director Murielle Degeest and Apon Wellbeing Ltd Head of Growth Yasir Arafat inked the MoU at Crony Group premises.

Crony Group Managing Director A.H. Aslam Sunny and Tom Tailor Country Manager, Fikreta Kicki Tutic were also present on the occasion.

Crony Group has a history of ensuring worker benefits as they had a “Calorie Distribution” CSR program from 2008-2019 which provided milk, egg, rice, noodles, shemai, sugar, and salt to factory workers.

“The Fair Price Shop aligns with Crony Group’s mission of empowering our greatest asset, our workers. I would like to thank The Cotton Group for their generous donation of 20,000 USD as a subsidy for essential groceries and Apon Wellbeing Ltd who will operate the store and provide health insurance to workers,” said Neela Hosna Ara.

The Cotton Group Managing Director Murielle Degeest said, “The Fair Price Shop will give workers the chance to buy key necessities at preferential prices (and access to things such as medical insurance too) means that they are truly investing in the real improvement of their living wage, and therefore the lives of their families too. It’s a privilege to be part of something that can impact so many people.”

“Apon was born to improve the lives of the backbone of our country, industrial workers. We are gradually growing our well-being initiatives to more workers, who are the heart of the fashion industry. So far, we have spread this well-being scheme through 29 Fair Price Shops. We look forward to working with more factories to further Sustainable Development Goals.” Said Yasir Arafat.

Tom Tailor Country Manager Fikreta Kicki Tutic praised The Fair Price Shop and looks forward to supporting similar initiatives in Crony Group on behalf of German brand Tom Tailor.

A.H Aslam Sunny said, “The Fair Price Shop does not only save workers money but also their time and provides quality compliant groceries that are difficult to find in informal bazaars. Since Ranna Plaza, we have invested billions of dollars in retrofitting and compliance. We have shown the world we are serious about developing our nation and our people. Now, I urge all buyers and suppliers to work together and better the lives of factory workers.”

The Fair Price Shop is located in Abanti Colour Tex Ltd and Crony Tex Sweater Ltd and is available to all factory workers. Workers will be able to purchase goods using credit, which will be adjusted with their salaries in the next pay cycle, alleviating financial pressure.

The Shop opens in a time of inflationary pressure with the mission to improve the lives of factory workers by offering easy access to groceries and lower-than-market prices. The collaboration is an example of suppliers and buyers working together to increase the disposable income of factory workers.