Bangladesh’s largest contributor to its GDP is getting stronger despite the recession in the developed world. Japanese clothing giant Fast Retailing Co, mostly known by its brand name Uniqlo, has recently started outsourcing low-end products from Bangladesh to boost its sales worldwide. It has opened its local office in Dhaka in September this year. The company plans to treble its overseas sales within the next two years through selling cheap garments amid global financial recession. The company's new business plan to brace for low-cost management, and the shortest and cheapest manufacturing and marketing strategy has led it to Bangladesh, a high official of Fast Retailing said. According to the Daily Star, the company will also start outsourcing home furnishings and fashion accessories from Bangladesh soon, said Koji Yamamoto, an official of Fast Retailing Co in Dhaka. Besides Uniqlo, such global retail giants as GAP, Zara, Wal-Mart, Tesco, JCPenney, H&M and Next are already...
Anecdotes