A textile producer said it has started exporting industrial sewing thread after meeting the local apparel makers’ demand. Well Thread, a product of Well Group, one of the largest composite industrial sewing thread manufacturers, has been exporting to countries in Eastern Europe and Sri Lanka in South Asia for the last two years. “We export over 500,000 cones of 5,000 metres each worth USD 0.5 million per month to Eastern European countries through Turkey. Also, we supply to our local garment industries monthly worth $3.0 million through back-to-back LC,” Syed Nurul Islam, the Group’s chief executive officer (CEO), told the FE recently. The second-largest garment exporter in the world, Bangladesh earns more than US$25 billion a year from the ready-made garment sector. According to experts, at present the local garment industries use sewing thread worth US$ 200 million annually. About 20 thread companies, including some multinationals like Coats, A&E, and Amman, have been meeting 100 per cent local demand. But there is hardly any local company exporting thread. “We can claim we have one of the largest industrial sewing thread manufacturing units in South East Asia, having composite facilities like spinning, twisting, dyeing, finishing and conning. We have 25 per cent share in a $200 million local thread market,” said Mr Islam, also the former president of Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI). “We are planning to start manufacturing special thread to support our fast-growing leather and shoe industries in future,” he said, referring to his future plan. Established in 1973, Well Group has been serving the local apparel sector with its established product line Well Thread for the past two decades occupying 25 per cent market share. Well Thread is arguably the first company to export Bangladeshi sewing thread to overseas markets. Abdus Salam Murshedy, managing director of Envoy Group and president of exporters association of Bangladesh (EAB), told the FE that almost 99 per cent of the industrial sewing thread used in the garment industry in Bangladesh is being supplied by local and multinational manufacturers. But he was unaware of any local company involved in exports, although many such thread manufacturers have the capacity to do so. “I do not know whether any local thread manufacturer exports or not after meeting the local demand. Of course, some of them have the capacity to export,” he said. Referring to his garment unit, he said his firm uses threads manufactured both at local and multinational companies. He said roughly 95 per cent garment accessories is manufactured locally. In the context of growth in the apparel sector, it is difficult to say whether many companies can export thread or not, he added.
