According to media reports, Ananta Apparels – an export-oriented woven readymade garment (RMG) manufacturer in Bangladesh has decided to merge its seven units into one in order to make operations less expensive. The merger is expected to take place in next one month, reportedly said Asif Zahir, Director of Ananta Apparels.
All seven units located in Savar, Ashulia, Gazipur, Narayanganj and Export Processing Zones run by different management teams will be merged together.
The company exported garment items worth US $ 240 million in fiscal 2015-16. Starting from this year, the company has targeted to hit US $ 400 million in exports within the next two years and US $ 1 billion by the end of 2022. “We need massive expansion and efficient management to reach the target within the set timeframe,” Asif reportedly added.
GAP, H&M, Next, and Walmart are the few of the buyers of Ananta Apparels products.