Bizdata Insights Main Logo

BizData Insights

Leather and Footwear Exports Drop by 17.55% in Jan-April

Industry: Footwear, Leather & Accessories, Lifestyle & Fashion

Bangladesh’s leather and leather goods exports have witnessed a notable decline of 17.55% during the period of January to April 2023. This drop in export figures can be attributed to multiple factors impacting the global market, including reduced demand for leather-made luxury items and concerns regarding environmental compliance.

According to data from the Export Promotion Bureau (EPB), the country’s leather and leather goods exports have decreased by $78.61 million, reaching $369.2 million in comparison to $447.81 million recorded during the same period in 2022. The Leather Goods and Footwear Manufacturers and Exporters Association of Bangladesh (LGFMEAB) also reported a 16% decrease in export earnings from leather, leather products, and non-leather footwear, totaling $509 million in January to April 2023, compared to $604 million during the corresponding period in 2022.

Overall, the leather and leather goods sector in Bangladesh has experienced a negative trend in export performance from January to April 2023, with declines ranging from 13% to 17% compared to the same months in the previous year. The sector is facing challenges in terms of meeting environmental compliance standards and adapting to shifting consumer preferences amidst global economic uncertainties.

 

Source for more details:

Related News

Levi’s Enters Bangladesh Market

April 20, 2024

Levi's has unveiled its inaugural official store in Bangladesh, located in Banani. The store promises an elevated shopping experience along with a diverse product range tailored to local tastes, as stated in a press release issued by the brand on April 16.

 

RFL Set to Invest TK 30 Crore in PU Leather Manufacturing

April 17, 2024

The synthetic leather market is expanding in Bangladesh, with exports showing significant growth. PRAN-RFL is investing TK 30 crore to establish a polyurethane (PU) artificial leather factory, aiming to reduce import dependency. Currently, the country's export earnings from non-leather shoes reached 478.8 million USD in FY 2022-23, growing by 6.5%.

Craftsman Footwear to Raise Tk 5 Crore through QIO

April 17, 2024

Craftsman Footwear is set to open its qualified investor offer (QIO) subscription from April 21 to April 25, aiming to raise Tk5 crore within the SME platform of the Dhaka Stock Exchange (DSE). Its Founder and Managing Director highlighted that the funds raised will be channeled towards the Balancing, Modernisation, Rehabilitation, and Expansion (BMRE) of the factory, as well as bank loan repayments and

Chinese Firm Invests $6 Million in Chattogram Economic Zone

April 2, 2024

Chinese company Taisheng (Bangladesh) Webbing Ltd plans a $6 million investment in Chattogram's Bepza Economic Zone to establish a factory producing shoe laces, elastics, draw cords, and more. The factory aims to annually produce six million tonnes of products and create job opportunities for 200 Bangladeshis. An agreement was signed between Bepza and Taisheng on March 27, with the presence of Bepza's executive chairman.

HATIL Teams Up with Kaz Software for E-commerce Enhancement

March 31, 2024

HATIL and Kaz Software signed an MoU to enhance HATIL's e-commerce platform, website, and mobile app. The agreement aims to implement advanced technologies such as 3D visualization, dynamic color selection, and customizable features to improve the online shopping experience.

Miniso Joins With Shark Tank Bangladesh

March 21, 2024

Shark Tank Bangladesh, set to launch soon, will feature innovative entrepreneurs pitching their ideas to influential Sharks for investment opportunities. In its inaugural season, Miniso joins as the exclusive gift partner, with 27 stores across Bangladesh and over 6000 stores globally. Founded in 2013, Miniso offers a diverse range of 5000 products across 105 countries, spanning categories like perfume, cosmetics, electronics, and household items.

Related News

Levi’s Enters Bangladesh Market

April 20, 2024

Levi's has unveiled its inaugural official store in Bangladesh, located in Banani. The store promises an elevated shopping experience along with a diverse product range tailored to local tastes, as stated in a press release issued by the brand on April 16.

 

RFL Set to Invest TK 30 Crore in PU Leather Manufacturing

April 17, 2024

The synthetic leather market is expanding in Bangladesh, with exports showing significant growth. PRAN-RFL is investing TK 30 crore to establish a polyurethane (PU) artificial leather factory, aiming to reduce import dependency. Currently, the country's export earnings from non-leather shoes reached 478.8 million USD in FY 2022-23, growing by 6.5%.

Craftsman Footwear to Raise Tk 5 Crore through QIO

April 17, 2024

Craftsman Footwear is set to open its qualified investor offer (QIO) subscription from April 21 to April 25, aiming to raise Tk5 crore within the SME platform of the Dhaka Stock Exchange (DSE). Its Founder and Managing Director highlighted that the funds raised will be channeled towards the Balancing, Modernisation, Rehabilitation, and Expansion (BMRE) of the factory, as well as bank loan repayments and

Chinese Firm Invests $6 Million in Chattogram Economic Zone

April 2, 2024

Chinese company Taisheng (Bangladesh) Webbing Ltd plans a $6 million investment in Chattogram's Bepza Economic Zone to establish a factory producing shoe laces, elastics, draw cords, and more. The factory aims to annually produce six million tonnes of products and create job opportunities for 200 Bangladeshis. An agreement was signed between Bepza and Taisheng on March 27, with the presence of Bepza's executive chairman.

HATIL Teams Up with Kaz Software for E-commerce Enhancement

March 31, 2024

HATIL and Kaz Software signed an MoU to enhance HATIL's e-commerce platform, website, and mobile app. The agreement aims to implement advanced technologies such as 3D visualization, dynamic color selection, and customizable features to improve the online shopping experience.

Miniso Joins With Shark Tank Bangladesh

March 21, 2024

Shark Tank Bangladesh, set to launch soon, will feature innovative entrepreneurs pitching their ideas to influential Sharks for investment opportunities. In its inaugural season, Miniso joins as the exclusive gift partner, with 27 stores across Bangladesh and over 6000 stores globally. Founded in 2013, Miniso offers a diverse range of 5000 products across 105 countries, spanning categories like perfume, cosmetics, electronics, and household items.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here