Bangladesh eyes global smart clothing market
‘Smart clothing’ is the fourth industrial textile revolution, a sector that will reach a sales volume of more than $130 billion in 2025, said Mostafiz Uddin, founder of Bangladesh Apparel Exchange (BAE). He said this at a press conference held at a hotel in the capital yesterday.
The second-ever Bangladesh Fashionology Summit will be held on May 2 at the International Convention City Bashundhara (ICCB) in Dhaka with the aim to firm up Bangladesh’s position in fetching its share in the $130-billion dollar market.
Addressing the press conference, Mostafiz Uddin, founder and CEO of the (BAE) said, “The recent increase in wages and the cost of production have made it inevitable for the apparel manufacturers of the country to concentrate on value-added products.
The $130 billion dollars smart clothing market is an area we need to focus on to survive and thrive.”
“The shift from producing basic to smart clothing will not be so easy and it has to be done gradually with proper planning and preparation. The objective of Bangladesh Fashionololgy Summit is to facilitate the shift,” he added.
The theme of the 2nd edition of the Bangladesh Fashionology Summit is ‘Digitalization—the Next Destination’. So, the event is aligned with the government goals of ‘Digital Bangladesh Vision’.
Talking about innovation, he said, “Our mission is to facilitate modern, innovative, technology-driven apparel manufacturing and supply chain conversations and build a thriving community of leaders and innovators who will help to guide our nation in transforming into a ‘next-generation’ apparel manufacturing and marketing hub using latest digital technology and advancements.”
“We want to bring together under one roof the most inspiring and innovative thinkers/companies from around the globe to initiate the much-needed conversations around technology, digitalization and innovation in the apparel and fashion industry,” Mostafiz added.
Apparel and fashion industry is on the cusp of a huge transformation and disruption enabled by digital and technological advances sweeping the apparel industry and customer expectation landscape. “We believe that the time is ripe for Bangladesh—the second largest apparel exporter to the world to take a leadership role in shaping, defining and initiating a future that is sustainable and profitable for all stakeholders”, said Mohiuddin Rubel, Managing Director of Bangladesh Apparel Exchange (BAE).
Apparel stakeholders including brands, garment makers, technology and innovation companies, fabrics producers, software service providers across the world will participate in the summit to discuss the latest products, technologies and innovations that will take shape in future and dominate the fashion industry.
Keynotes, exhibits and knowledge-sharing sessions from some of the brightest minds and most inspired thinkers from across the globe will converge at the Bangladesh Fashionology Summit and cover a wide range of compelling topics that are relevant to shaping the future of our industry.
The summit will also present a unique platform for start-ups to demonstrate their cutting edge innovation in fashion.
An exclusive “Digital Tech Fashion Runway Show” will also be organised at the summit, where smart wearable by world’s renowned fashion tech designers will be showcased on ramp. Moreover, a Tech Innovation Zone will be set up to display latest technologies and innovations in fashion.
A total of 41 speakers from 15 countries will speak at the sessions of the summit.