The readymade garment sector of Bangladesh, which has had to face some tough times owing to COVID-19, resulting in mass order cancellations by global buyers, seems all set to get some decent business from USA in the coming days as around 55 per cent of fashion brands in US are planning to increase sourcing from Bangladesh in next 2 years. This was underlined by the ‘2020 Fashion Industry Benchmarking Study’, which further added that despite COVID-19 and the consequent change in business environment, Asia’s position remained unshakable as a sourcing base from the perspective of US-based entities. It also added that due to coronavirus, there have been substantial order cancellations and widespread sales decline among the US-based companies which impacted suppliers in countries like India, China and Bangladesh the most, while underlining that around half the US fashion companies have plans to moderately increase sourcing from India, Indonesia and Vietnam. The study also underlined that cent per cent of US fashion companies have more or less cancelled or postponed orders owing to COVID-19 as sales took a hit and business operations disrupted significantly.
