Italy's Teddy Group commits to support Bangladesh's RMG sector

Italian fashion company, Teddy Group, has committed to stay beside Bangladesh during this coronavirus pandemic mentioning Bangladesh as a trusted partner.

The company made the pledge at a recent virtual meeting with the Embassy of Bangladesh in Rome, said a press release on Thursday.

Teddy Group also informed that they did not have any cancellation or holding order at the moment and gave assurance of this intention if the current production plans and the work environment continue.

Moreover, the company said they would be giving a demand letter of a big amount at the end of this month. They acknowledged that the amount might be slightly less compared to the same season of the previous year due to lower demand currently at global level. But, they hope the situation will be normal within three or four months, subject to the pandemic situation.

The Embassy of Bangladesh appreciated Teddy for their responsible business conduct and thanked them for setting an ideal example for others; and assured its readiness to extend any kind of support to the company.

Teddy Group is one of the top fashion industries in Italy founded in 1961. It has six brands including Terranova, Calliope and Rinascimento. The company has over 600 stores in 40 countries.

Bangladesh is a top business hub for Teddy Group from which it sources more than $200 million per year through apparel products.

The company set up office in Bangladesh in 2004. Currently 80 people including two ItalianS are working in in the company's Bangladesh office.

Bangladesh Embassy in Rome has taken an initiative to hold meetings with the top 10 Italian importers of apparel products from Bangladesh for the sake of continued business operation during the coronavirus pandemic and to strengthen ‍long-term business partnership.