Role of Buying House in Garments Business
Role of Garments Buying House in Apparel Business:
It is worldwide certified that the RMG sector of Bangladesh can produce a higher quality product at a lower price than other garments manufacturing countries. As a result, Bangladesh has achieved a vast place in the world’s garments/apparel market, which is only possible due to the significant contribution of garment buying house.
A buying house is a media between buyer and manufacturer. It can be a buying agency or a buying office. Both terms contain different meanings. The buying agency is an independent buyer’s regional office, from where all kinds of necessary approval have been given. On the other hand, buying an office is that, which works at a time with different buyers and brands. In this case, all the required approvals are come from the buyer, not from buying a house.
Role of Buying House in Garments Business:
In a normal sense, buying a house is the combination of all marketing activities, which is not only related to searching foreign garment buyers, order collecting media for the manufacturers but also placing an order to local garments manufacturing factories and providing all the necessary support to the buyers and manufacturers.
Buying a house plays an important role in the garments manufacturing sector of Bangladesh. As the garments sector is totally related to foreign buyers, but foreign buyers are too much dependent on garments buying a house. Because they have no enough idea to place order and execution here, whereas buying house provides them strong support by supplying garments products according to their demands. Foreign buyers are totally bounded with buying houses. As a result, new buying houses are increasing day by day, which was too difficult to find out reliable garments buying a house in the past 3-4years ago.
In another point of view, it’s seen that garments manufacturers also totally dependent on buying house, because they have to collect order from them. Also exporting garment products involves so many stages from marketing to distribution, which is not possible by any single group to do alone.
Normally a buying house has to do the following functions:
- Order collection from the buyer,
- Finding good suppliers (local factory) to complete the order,
- Order processing from local factories,
- Making product development samples for buyers,
- Contacting buyers for necessary approvals,
- Forwarding all the comments and approvals to the factories,
- Follow-up order processing according to buyers demand,
- Maintain desired product quality from sample to production,
- Should follow inspection terms and conditions according to buyers demand,
- Shipping the goods.
Buying house works not only with the reputed factories, but it also helps to small factories. At present, a lot of small factories are growing, which have no specified buyer. Buying house provides them sound opportunity by providing garments order if they have the capability to complete an order by maintaining buyers demand. As a result, new entrepreneurs are willingly come to invest in garments sector by opening garments factory, which is too good for the nations especially for the garments business.’
From here, we can say that the relationship between manufacturers and buying house are interdependent. The existence of one without others is hardly possible. As a result, the distance between buyer and manufacturer is reduced by buying a house.
Just imagine, if there are no garments buying a house in Bangladesh, what happened in our large garments sector. Whole garments business falls down. Factories can’t find any garments order, also foreign buyers can’t place any order here directly.
RMG sector of Bangladesh has a new slogan: “$50 billion by 2021.” It’s not a dream vision for us. We have enough ability to touch this goal. We are hoping to reach $50bn in exports by 2021, the 50th anniversary of the Republic of Bangladesh. To achieve this milestone buying house will play a significant role by collecting a lot of orders from the world’s top garments buyers.
By the above ways, garment buying house plays an important role to perform marketing and distribution tasks of the clothing business.
New entrepreneurs are highly invited to our garments sector so that we can take this sector at its best position in the world’s ready-made garments market.