Badsha Group of Industries is opening a ready-made garment (RMG) factory with the goal of $700 million in annual export earnings.
Bangladeshi publication New Age reported that the denim maker will also invest more than 18 billion takas (roughly $73 million) to set up a spinning mill at Madhabpur in Habiganj, Bangladesh, for denim manufacturing in the coming years.
Md Badsha Mia, managing director of Badsha Group, told reporters that production will begin next year and employ at least 15,000 workers.
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Mia also told New Age the company has a three-phase plan to reach $700 million in annual denim exports.
This dovetails with Bangladesh’s goal of $100 billion in RMG exports by 2030, which will require the country to double its denim exports, according to former BGMEA president Md Siddiqur Rahman.
Speaking at November’s Bangladesh Denim Expo 2023, Rahman said denim and denim-related products account for roughly one-fourth of the country’s total apparel exports. Commerce minister Tipu Munshi said that Bangladesh, the world’s second-largest apparel exporter after China, is the top denim exporter to the U.S. and the European Union (EU).
Badsha Textiles—which supplies nearly 50 global brands, including H&M and Inditex—pointed to a “huge opportunity” as Western buyers diversify away from China, setting the stage for Bangladesh to dominate the denim garment manufacturing market, Mia said.
Established in 1976, Badsha Group started manufacturing denim fabrics via Pioneer Denim in 2017. The mill produces 60 million yards of fabric annually, and is aiming for 100 million by 2025. For context, the Bangladesh Textile Mills Association (BTMA) reported that the South Asian nation’s 42 mills collectively produce 900 million yards of fabric each year.
Badsha Group of Industries did not respond to Rivet’s request for comment.
