Established in 1994, Far East Knitting has evolved from a small garments manufacturing plant into one of the leading composite textiles industry in the country, with integrated, knitting, high end dyeing, finishing (tubular & open width), state-of-the-art printing, pigment dyeing & garment washing and embroidery. Operating out of a modern facility which is fully compliant (both technical & social) in accordance with all international standards, Far East Knitting today employs approximately 7,000 employees and is a market standard in Bangladesh for the manufacture and export of high fashion garments.
The factory specializes in high fashion knitted tops and offers a wide range of fabrics. The fabric base includes 100% Cotton, Viscose, Viscose/Lycra, Modal, Bamboo with weights ranging from 90 to 250 gsm. The company also offers garments which are manufactured from organically grown cotton, i.e., without the use of harmful chemicals that damage the environment. Far East Knitting customers are all well reputed retailers in the UK, Continental Europe & North America. In the financial year 2018, the company achieved sales turnover of Tk. 3.596 billion.
Ms. Farha Lazina is the Chairperson of Far East Knitting & Dyeing Industries Ltd. She is a graduate and has been involved with the company since inception. She also oversees the marketing activities of the company and serves as Director – Marketing. She is also a Director of Far East International Ltd.
Mr. Asif Moyeen is the Managing Director of the company. He started his career as a banker and served in senior management capacities in Bangladesh, China and Hong Kong. In 1994, he set up Far East Knitting. Mr. Asif Moyeen directly looks after the marketing activities and also oversees the day-to-day operations of the company.
The outlook for the RMG sector in Bangladesh is very bright and it is forecasted that the annual exports from this sector will cross the $40 billion mark by 2020. As China struggles to compete due to labor costs, the obvious choice for the global buyers continues to be Bangladesh. However, Bangladesh textile companies need to remain cautious of competition from other potential countries such as Vietnam, Pakistan and African countries. African countries specially are receiving significant subsidies and incentives to develop this sector and are also receiving priority from the US as well as European countries. Bangladesh Government will have to immediately counter this threat with a long term policy specifically tailored to help the textile industry.