Sportswear Industry in Bangladesh

A pair of footwear is an important part of a pair in human life, anyone can not think without footwear. It may be sponge footwear, sports footwear, casual footwear, slipper, lady’s footwear, gent’s footwear. Everyone wears footwear daily basis for a formal or informal basis. The business model of the Athletic shoes, Direct Injection shoes, Flip-flop, Rubber & PU soles, IMEVA sole/Midsole and EVA Sheet, and exporting to the international market. Today we are going to discuss athletic shoes such as sports footwear industry trends in Bangladesh.

Global Footwear industry analysis; The worldwide footwear industry has been experiencing quick expansion, primarily due to swift demand for new and innovative footwear products worldwide. Due to improvements in manufacturing processes, technology innovation and integration, modern, fashionable, and comfortable shoes are being continuously developed at reasonable prices to keep pace with the growing demand for these products.

Rising sports activity has ominously increased the focus on sportswear globally. Different international brands are merging sportswear with fashion wear nowadays. Besides, there has been a surge in wellbeing and wellness exercises among shoppers around the world, especially in running and different sports. Thus, leading sports brands are continuously involved in the manufacturing of technically sophisticated and innovative products. On account of their changing lifestyles, men and women are wearing sports-inspired footwear in daily life. Versatility, comfort, and style are some of the major factors driving the appeal of sportswear, which in turn is likely to propel the growth of the footwear market globally.

An overall rise in the retail culture is triggering the growth of the global footwear market. Factors such as great diversity in the footwear market and easy availability of products in many retail outlets are anticipated to encourage impulse buying of these products. Different brands, as well as retailers, are re-orienting their focus on this market, which has led to a significant increase in the number of retail outlets worldwide. Moreover, there has been noteworthy growth in the advertising and marketing-related investments made by different brands. Internet retailing is also gaining prominence for the purchase of footwear across different cities. This channel is gaining popularity to shop for women’s footwear as well as sports footwear.

However, increasing the production of counterfeit footwear products by local manufacturers is hindering the growth of the global footwear market. These duplicate products are hampering the distribution channel and are leading to a negative impact on the overall growth of the market.

The market based on product type which includes athletic footwear and non-athletic footwear. The global athletic footwear market is further segmented into running and cross-training/tennis shoes, soccer/football shoes, golf shoes, basketball shoes, hiking shoes, baseball shoes, and others. The global non-athletic footwear market is classified into casual footwear, dress evening footwear, military boots, lite hiking outdoor sandal, and others. Based on gender type, the footwear market is subdivided into men’s footwear, women’s footwear, and kids’ footwear. Furthermore, the global footwear market has been divided by geography into North America, Europe, Asia Pacific, and the rest of the world (RoW).

Key players have also been profiled based on company overview, financial overview, business strategies, and key developments. Major market participants profiled in this report include Nike Inc. (U.S.), Adidas AG (Germany), Puma SE (Germany), New Balance Inc. (U.S.), Asics Corp.(Japan), Bata Limited (Canada), Deichmann SE (Germany), Skechers USA, Inc. (U.S.), The Aldo Group Inc. (Canada), VF Corp.(U.S.), W.L. Gore & Associates, Inc. (U.S.), Jack Wolfskin (Germany), Sympatex Technologies GmbH (Germany), Polartec, LLC (U.S.), Kathmandu Holdings Limited (New Zealand), and Columbia Sportswear Company (U.S.).

Assembly of products; Bangladesh has a host of potential products that can earn substantially large amounts of foreign exchange if only the necessary patronage from the overseas buyers is given for the sake of expanding the country’s export base and thereby reach a sustainable status for the country’s export trade.

Recently, a new opportunity has opened up to further diversify the range of Bangladesh’s export base by including footwear and other leather goods in the list of exports, particularly to the European Union (EU) market.

However, the country has already been exporting finished leather and different kinds of leather products to the overseas markets. These products also enjoyed considerable demand because of their high quality. The main reason for this was the natural advantage of leather that Bangladesh produces. Despite the high quality of local animal hides both in raw and finished form, Bangladesh was still trailing behind Vietnam and China in the export of footwear and other leather products in the European and other markets.

The Export Processing Zones at present has 18 sports shoe and leather shoe factories but there are at least seven large factories under construction, mostly owned by big manufacturers in the shoe world. The factories under construction include Korean company Young one’s footwear complex which is said to be the largest in Asia. The company started construction of its mega shoe complex in Chittagong six months back. The first part of the complex will go into production by the middle of next year, and the company’s executives said they would be able to manufacture about 30 million pairs of shoes by 2013.