Contemporary Analysis and Progression of Fashion Industry: The Instance of Bangladesh History

Abstract

The study expresses fast fashion globally whereas Bangladesh consume more than 80 billion pieces of clothing each year, many of them hyper-trendy, low-cost items that move from runway to sale rack at breakneck speed. Fashion is a trillion-dollar-a-year industry that increasingly relies on rock-bottom retail prices. The amount of made-in-Bangladesh clothing worn by abroad has plummeted over the past 35 years. The study also scrutinizes about clothing companies which are now outsource much of their manufacturing to factories in developing countries to keep prices low and trend-turnover high. Starting from scratch, Bangladesh has come a long way and is now one of 10 new emerging countries in the world based on Fashion Progression. The macroeconomic stability, 6% annual average GDP growth, robust performance of remittance and export, strong foreign currency reserve, and remarkable social and human development over the past decade – all reflect our underlying strengths. Given the dominance of the RMG industry in the overall economy of Bangladesh, have to protect this sector. Rather than basking in the glory, should work hand in hand to retain sustainable growth and competitive edge of this Fashion Industry.

Keywords: Fashion Industry, Fashion, RMG, Historical Progression, Export Fashion, Market and so on