Italian fashion company, Teddy Group, has committed to stay beside Bangladesh during this coronavirus pandemic mentioning Bangladesh as a trusted partner, reports UNB.
They made this pledge at a virtual meeting with the Embassy of Bangladesh in Rome, Italy.
The company 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, they would be giving a demand letter of a big amount at the end of this month, the company representative added, said the Ministry of Foreign Affairs.
However, 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.
The Embassy 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.
They have over 600 stores in 40 countries. Bangladesh is a top business hub for them from which it sources more than USD 200 million per year apparel products.
They set up an office in Bangladesh in 2004 where, currently, 80 people including two Italian nationals are working.
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.
Italy's Fashion Company 'Teddy' Bangladesh RMG Teddy Group Coronavirus COVID-19.