Bizdata Insights Main Logo

BizData Insights

Urmi Group Expands Apparel Exports with Seamless Technology

Industry: RMG, RMG & Textile
Company: Urmi Group
Company Intelligence Tag: Business Insights

Urmi Group’s seamless unit is contributing to Bangladesh’s efforts to expand its global market share in the apparel industry by leveraging seamless technology. Since its establishment in 2015, the company has grown its fleet of seamless machines from 5 to an impressive 78, with plans to reach 150 within two years. The seamless athleisure market, valued at $330.97 billion in 2022, is projected to reach $793.46 billion by 2028.

Bangladesh aims to capture a substantial share of this market by effectively utilizing seamless technology. Urmi Group has emerged as a leader in producing seamless athleisure garments, with a monthly production capacity of 700,000 pieces. The company supplies renowned brands such as Puma, Auchan, M&S, and H&M. With a fully air-conditioned production floor and advanced features like wicking and antibacterial properties, Urmi Group is redefining Bangladesh’s global presence in the athleisure market. The growing adoption of seamless technology presents investment opportunities and highlights the industry’s potential for expansion.

Source for more details:

Related News

Islami Bank Faces Uncertainty Over Tk 8,279 Crore Recovery

September 7, 2024

Islami Bank Bangladesh is facing uncertainty over recovering Tk 8,279 crore provided as liquidity support to  four banks—First Security Islami Bank, Union Bank, Social Islami Bank, and Global Islami Bank—and one non-bank financial institution, Aviva Finance. 

Dhaka Stock Exchange’s DSEX Rises by 500 Points

September 7, 2024

The Dhaka Stock Exchange (DSE) benchmark index, DSEX, surged by 500 points in the past month, reaching 5,728.64 on September 4, 2024, up from 5,229.26 on August 4. Turnover increased from Tk 207 crore to Tk 674 crore, peaking at Tk 2,010 crore on August 11. The rise follows political changes and reforms by the interim government, including new leadership at the Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

Walton Declares 350% Cash Dividend

September 7, 2024

Walton Hi-Tech Industries PLC declared a 350% cash dividend for general shareholders and a 200% cash dividend for sponsors and directors for the financial year 2023-24. General shareholders will receive Tk 35 per share, while sponsors and directors will get Tk 20 per share.

Apparel Exports to US Fall by 10.27%

September 7, 2024

Bangladesh's apparel exports to the US saw a 10.27% decline, totaling $4.09 billion during January-July 2024, down from $4.56 billion the previous year. Export volume also fell by 4.55%. Meanwhile, competitors like China and Vietnam outperformed Bangladesh, despite their own declines.

UCB Board Cancels Tk 500 Million Mutual Fund Investment

September 7, 2024

The new board of United Commercial Bank (UCB) has cancelled a Tk 500 million investment plan in a close-ended mutual fund, initially approved by the previous board. The previous board, dominated by the family of former land minister Saifuzzaman Chowdhury, was dissolved by the Bangladesh Bank on August 27. The change followed political shifts after the fall of the Hasina-led government. Following the cancellation, UCB's stock rose 1% to Tk 12.30 per share. UCB reported a profit of Tk 1.27 billion for the first six months of 2024.

Eastland Insurance Rebrands as Eastland Insurance PLC

September 7, 2024

The Registrar of Joint Stock Companies & Firms (RJSC) and the Insurance Development & Regulatory Authority (IDRA) have approved the name change of Eastland Insurance Company from "Eastland Insurance Company Limited" to "Eastland Insurance PLC," effective immediately, according to a press release.

Related News

Islami Bank Faces Uncertainty Over Tk 8,279 Crore Recovery

September 7, 2024

Islami Bank Bangladesh is facing uncertainty over recovering Tk 8,279 crore provided as liquidity support to  four banks—First Security Islami Bank, Union Bank, Social Islami Bank, and Global Islami Bank—and one non-bank financial institution, Aviva Finance. 

Dhaka Stock Exchange’s DSEX Rises by 500 Points

September 7, 2024

The Dhaka Stock Exchange (DSE) benchmark index, DSEX, surged by 500 points in the past month, reaching 5,728.64 on September 4, 2024, up from 5,229.26 on August 4. Turnover increased from Tk 207 crore to Tk 674 crore, peaking at Tk 2,010 crore on August 11. The rise follows political changes and reforms by the interim government, including new leadership at the Bangladesh Securities and Exchange Commission (BSEC) and Dhaka Stock Exchange (DSE).

Walton Declares 350% Cash Dividend

September 7, 2024

Walton Hi-Tech Industries PLC declared a 350% cash dividend for general shareholders and a 200% cash dividend for sponsors and directors for the financial year 2023-24. General shareholders will receive Tk 35 per share, while sponsors and directors will get Tk 20 per share.

Apparel Exports to US Fall by 10.27%

September 7, 2024

Bangladesh's apparel exports to the US saw a 10.27% decline, totaling $4.09 billion during January-July 2024, down from $4.56 billion the previous year. Export volume also fell by 4.55%. Meanwhile, competitors like China and Vietnam outperformed Bangladesh, despite their own declines.

UCB Board Cancels Tk 500 Million Mutual Fund Investment

September 7, 2024

The new board of United Commercial Bank (UCB) has cancelled a Tk 500 million investment plan in a close-ended mutual fund, initially approved by the previous board. The previous board, dominated by the family of former land minister Saifuzzaman Chowdhury, was dissolved by the Bangladesh Bank on August 27. The change followed political shifts after the fall of the Hasina-led government. Following the cancellation, UCB's stock rose 1% to Tk 12.30 per share. UCB reported a profit of Tk 1.27 billion for the first six months of 2024.

Eastland Insurance Rebrands as Eastland Insurance PLC

September 7, 2024

The Registrar of Joint Stock Companies & Firms (RJSC) and the Insurance Development & Regulatory Authority (IDRA) have approved the name change of Eastland Insurance Company from "Eastland Insurance Company Limited" to "Eastland Insurance PLC," effective immediately, according to a press release.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here