Teddy Group, an Italian fashion group, has assured Bangladesh of its support for the apparel industry in the region. The group recently assured the Bangladesh Embassy that, besides continuing its business with the country, it would not cancel nor hold orders at the moment.
The party also told Bangladesh at the end of this month to be awarding big orders. Nonetheless, this order ‘s value may be somewhat due to a lower competition on the global apparel market. One of Italy ‘s top fashion groups, the Teddy Group has six brands that include Terranova, Calliope and Rinascimento. It also has more than 600 stores located in 40 countries.
Bangladesh is one of the group’s most successful markets from which it imports apparel items worth more than $200 million a year. In 2004, the group opened an office in Bangladesh where currently 80 people are working including two Italian nationals.