Connecting apparel buyers and sellers worldwide
On 27th October 1969, an ambitious garment trader, Reazuddin gifted his tailormade shirts to three astronauts who were in awe of the comfort and high quality of the products. This inspired him to start exporting his shirts to France. Reazuddin's dream of taking his business global initiated the creation of the booming RMG manufacturing industry in Bangladesh, which now accounts for 80% of the country's exports. So, during these unprecedented times, it is crucial to rekindle this entrepreneurial spirit for the RMG manufacturers like Reazuddin, especially those who need a platform that makes global trade easier. One such platform is Serai.
Serai, founded by HSBC, is a free digital B2B platform which helps simplify global apparel trade by connecting apparel buyers and suppliers worldwide. The platform has over 3000 companies from over 60 countries including Australia, USA, UK and other European countries which heavily rely on RMG imports. In Bangladesh alone, more than 500 companies, including renowned ones such as FCI group, DBL group, and Envoy Textiles are already using Serai. Manufacturers using Serai can easily show off their strengths and showcase their facilities, certifications and range of products to potential buyers. Businesses can also leverage solutions to achieve end-to-end supply chain traceability or assess and mitigate counterparty trade risk. Additionally, all these aspects help businesses build a strong online presence which is especially crucial during the ongoing global crisis.
Even before the pandemic, there was a distinct lack of digitization and online presence among businesses in the RMG manufacturing industry in Bangladesh, which made it difficult to find and connect with new international buyers. This problem was further amplified by the Covid 19 crisis due to reduced demand for traditional garments and limited mobility. Consequently, it has now become even more difficult for businesses to build new relationships and find new opportunities. The need to diversify and adapt has become crucial, increasing the need for digital platforms like Serai, especially in connecting buyers and sellers during a time when physical meetings are not feasible.
Apparel manufacturers and suppliers can easily connect with global buyers in just a few simple steps. Companies can sign up for free on the platform and create their company profile where they can showcase awards, certifications, photos and videos of their products and facilities. Potential buyers can easily search for suppliers and connect all on the platform. Companies also have the flexibility to make their profile public so that it's visible to anyone, regardless of whether they are on Serai, or make certain sections private. They can also tag their profiles with relevant keywords to further increase their exposure to potential buyers.
Platforms like Serai contribute significantly to the digitization of the Bangladeshi RMG sector. Especially during these uncertain times, adopting digital methods have become essential for all businesses worldwide. They can be instrumental in helping RMG manufacturers in Bangladesh secure a larger share of the global RMG export market and help establish the country as a leading manufacturing hub in the future.
