SWOT Analysis of Bangladesh Fashion Industry

SWOT Analysis of Bangladesh Fashion Industry

Bangladesh Fashion Industry
Nowadays Bangladeshi Fashion industry faces many challenges from many local and foreign competitors. We did a SWOT Analysis of the current situation of the Bangladeshi Fashion Industry. This SWOT analysis was done on Bangladeshi Fashion house ‘Sada Kalo’, many fashion houses may face the same situation as ‘Sada Kalo, hope this writing will help you.
SWOT Analysis
SWOT analysis is a study to identify an organization’s strengths, weaknesses, opportunities, and threats.
Here in this article, we have written about  SWOT Analysis of  ‘Sada Kalo’ fashion, a Bangladeshi Fashion house.

SWOT Analysis of Bangladesh Fashion Industry

Strengths of the Bangladeshi Fashion Industry

1. Established brand value already.
2. Business expansion in the USA.
3. Articulated designer clothes & accessories.
4. Proper market segmentation of customers.
5. A fixed planned product mix.
6. Thurst for innovation among designers.
7. Flat management & vives of motivation.
8. Good bonding helps media coverage.
9. Market demand for traditional designer dresses.
10. Unique & special two-color segmentation enhances occasional selling.
11. The local market can fulfill the demand, not depending on foreign countries.

Weaknesses of the Bangladeshi Fashion Industry

1. The improper organizational chart follows.
2. Lack of market analysis & survey before design & plan.
3. No specific inventory control management.
4. No follow-up in the entire production process of the supplier.
5. Improper forecasting of promotional budget.
6. Lack of Spontaneous R & D team for minimum lead time product.
7. No color diversification of design.
8. A mindset of using fewer resources for promotion
9. The financial loss of closing the outlet is due to improper facility location analysis.
10. Non-collaborated Marketing-planning-production-quality-logistics department.
11. Raw material sourcing from overseas countries.

Opportunities of the Bangladeshi Fashion Industry

1. Product & color uniqueness while marketing.
2. Business expansion can be done outside the capital, India & London.
3. Can introduce fusion products also.
4. Production quantity per design to improve for business demand follow.
5. Rural & urban culture fusion can make a more unique product.
6. Good collaboration with celebrities & media persons helps to bring international demand & fame.
7. Plenty of production suppliers as the textile sector is growing more rapidly.
8. Product segmentation & product mix, discount policy for local market keeping strategy.

Threats of the Bangladeshi Fashion Industry

1. Local ten brands & Brac organization Along with their unique design & same product segmentation.
2. Top three competitors with their fusion & multicultural products as per market demand.
3. People nowadays don’t remember brands in the absence of promotion.
4. The absence of market analysis can lead to make products which are not customer interest.
5. One department’s advocacy leads to diversified decisions & lack of a goal-oriented team.
6. Lack of support to production suppliers may lead to the other vendors.
7. Two months of design & market lead time can help competitor brands come up with new innovations.
8. Absence of HR, IT, Inventory control & logistics leads to proper planning, follow-up & execution.