Italian fashion company commits to support Bangladesh during pandemic
An Italian fashion company, Teddy Group, has committed to support Bangladesh during the coronavirus pandemic, saying that Bangladesh is a trusted partner.
At a virtual meeting recently organised by the Bangladesh embassy in Rome, Italy, Teddy Group said they did not have any cancellation or holding of orders at the moment and assured of continuing business with Bangladesh given that the work environment continues.
The company said it would put in an order for a major supply of clothes at the end of this month. However, the amount might be slightly less than the order of the same period of the previous year due to lower global demand, said a statement from the Bangladesh embassy in Italy yesterday.
However, they hoped that the situation will be normal within three or four months.
The Embassy of Bangladesh appreciated Teddy Group for responsible business conduct and assured its readiness to extend any kind of support to the company.
Teddy Group is one of the top fashion groups in Italy, and was founded in 1961. It has six brands including Terranova, Calliope and Rinascimento and are sold through over 600 stores in 40 countries.
Bangladesh is a top business hub for them, from which the company sources apparel products worth more than USD 200 million per year. They set up an office in Bangladesh in 2004 where, currently, 80 people including two Italian nationals are working.
The Bangladesh Embassy in Rome has taken an initiative to hold meetings with the top 10 Italian importers of apparel products from Bangladesh to make sure the business operations during the coronavirus pandemic continues and Bangladesh can strengthen long-term business partnerships with Italian businesses.