Bangladesh Crisis: Closure of factories in Bangladesh likely to impact fashion giants H&M and Zara

Bangladesh Crisis : The chaotic environment after the coup in Bangladesh is affecting the industry there. The political crisis in the country is directly affecting the work there. Even before this, the economic crisis and inflation in Bangladesh had reduced the overall demand in Bangladesh.
Read:- Bangladesh crisis: Amid political turmoil in Bangladesh, shares of many textile companies rose by 20%
The unrest created by the political turmoil in Bangladesh has also affected major fashion brands. Days after Prime Minister Sheikh Hasina stepped down and fled the country, the Bangladesh Garment Manufacturers Association has called for a complete shutdown of all facilities. In view of the current situation, the country's key industry is currently facing major disruption.
Given that Bangladesh is a major hub for garment production, the closure of garment factories is likely to impact global fashion giants such as H&M and Zara. According to online reports, the readymade garment industry makes up about 83% of Bangladesh's total income. World Trade Organization
According to (WTO) data, Bangladesh exported clothes worth $38.4 billion in 2023. The biggest thing is that Bangladesh ranks third in terms of garment exports, which comes after China and the European Union.
According to reports, H&M has this to say on this whole matter, “Most factories are gradually reopening, and safety remains our priority. We have assured our suppliers that we will not request exemptions due to delays in the current situation. We continue to assess the situation daily.”
So far, the Confederation of Indian Textile Industry (CITI) has warned that global brands that rely heavily on Bangladeshi suppliers could face disruption. As far as its impact on the common man is concerned, delays and reduced product availability could have a major impact on inventory levels and sales in the global retail market.