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The Keraniganj wholesale apparel hub is abuzz with the presence of shoppers from across the country this year after getting over the pandemic blow in 2020 and 2021.
Located on the bank of Buriganga, the commercial centre has 5,000 factories, 10,000 shops and some 300 malls – all look solely to Eid sales every year.
Traders said more than 80 to 90 per cent of their clothing products made for Eid ul-Fitr has already been sold out while the rest are expected to be sold by the 20th day of Ramadan.
“We make 70 per cent of our sales during Eid ul-Fitr, and the peak season runs from Shab-e-Barat to mid-Ramadan. The apparel-makers supply 70 to 80 per cent of local garments to different parts of the country,” they added.
“Although we are not making enough profit due to increased production costs, this Eid season might end up in profit eventually. However, it will not be possible yet to tide over the losses incurred over the last two years.”
They told The Business Post each factory sells apparel products worth Tk 1 crore a month, and during the month of Ramadan, sales peak and so they are anticipating a sale worth Tk 10,000 crore this Eid. Meanwhile, traders alleged that they could not produce sufficient products in line with this year’s Eid demand since they did not get support from the banks.
Besides, pricier raw materials and no raw materials on credit this year have also constrained their apparel business.
Small apparel traders from all over the country flock to Sadarghat Hawkers Market, Ladies Park Market, Keraniganj Zilla Parishad Market, Shahidul Alam Market, Masjid Market, Alam Tower, Ahsan Ullah Tower and numerous other hosiery and readymade markets to buy the bulk of mens’, ladies’ and kids’ wearables, they said.
Md Emdad Hossain, owner of Himel Garments at Keraniganj, along with other traders, claimed that on average their production cost went up by Tk 25 to Tk 150 per piece of clothing this year which had shrunk their profit.
Md Shariful Islam, proprietor, New Sharif Pants’ Place, a renowned shop in Keraniganj Zilla Parishad Market, told The Business Post, “We make 70 per cent of our total sales alone
in Eid. Although we expected to make a sale of around 50 to 60 per cent this year, we are happy that the markets are operating full-fledged again after two years of lackluster business due to the pandemic.”
“We could not produce enough new products for this Eid as we were low on investment. Banks did not lend us money since many traders could not repay the interest during the pandemic.”
Ataur Rahman, owner of Jamuna Garments in Keraniganj Shahidul Alam Super Market, said they are selling the products that they already had in stock.
“Our main customers are small retail traders who operate their businesses in villages and small towns. We have sold almost 80 to 90 per cent of our stock this year. But the demand has suddenly fallen these days,” Ataur observed.
Md Rashed, a small trader, who came to a market in Keraniganj, said this was his second visit to the market and each time, he bought products worth Tk 50,000 to Tk 70,000.
“I buy apparel products within the price ranging from Tk 300 to Tk 1,500 maximum as my customers are mainly low-income rural people,” Rashed said, adding that the demand for locally made fabrics was on the rise as imports from India and China have declined.
Md Sabuj, manager of Sifat Hosiery and Garments at Sadarghat, said they were selling apparel products worth Tk 15,000 to Tk 20,000 a day, but since Shab-e-Barat, it’s about Tk 70,000 to Tk 80,000 per day.”
According to Keraniganj Garments Traders’ and Shop Owners’ Cooperative Association, the apparel business hub lost around Tk 3,000 crore in profit alone in 2021, and the losses in terms of turnover were far more than that.
