PDS joins hands with Good Fashion Fund to install wash plant in Bangladesh
The new wash plant installed at Progress Apparels has the capacity to wash six million garments per annum. The machinery for the wash plant includes two washing machines, three dryer machines, and two hydro machines with inverters.
PDS, the global fashion infrastructure company announced the installation of a state-of-the-art wash plant in Progress Apparels Bangladesh, one of PDS’s manufacturing subsidiaries in Bangladesh. The wash plant has been installed in partnership and funding from the Netherlands-based Good Fashion Fund, which is subject to required regulatory approval.
The Good Fashion Fund is a one-of-its-kind impact investment fund initiated by Laudes Foundation, aimed to drive systemic change in the textile & apparel industry, by financing the implementation of state-of-the art and disruptive technologies and innovations delivering good fashion practices.
Progress Apparels is based in Adamjee EPZ in Dhaka Bangladesh with an area of 270,000 sq ft of production units, it manufactures approximately 900,000 units per month. The facility manufactures bottoms (formal and casual), school wear, shorts, and skirts for some of the leading retail brands across the globe. Progress Apparels is a LEED Gold certified green manufacturing facility, besides having a 100 per cent RCS Accord, CT PAT, SMETA, WRAP, and OEKO-TEX certification. The operations of the manufacturing facility are further enhanced by the rich design facilities that have made Progress Apparels a full- service design-to-delivery partner to retailers and brands.
The new wash plant installed at Progress Apparels has the capacity to wash six million garments per annum. The machinery for the wash plant includes two washing machines, three dryer machines, and two hydro machines with inverters. With this facility, Progress Apparels can now manage 90 per cent of the current wash requirement in-house, translating into savings in transportation costs and production turnaround time resulting in operating efficiencies.
Speaking on the inauguration of the Wash Plant, Pallak Seth, Vice Chairman, PDS said, “With over 20 years of experience in the apparel value chain, PDS has emerged as a preferred partner to over 200 of the leading retail brands across the world. As a conscientious corporate group and a partner to retailers, we are committed to fulfilling our responsibility towards our customers and the environment. Our partnership with the Good Fashion Fund is another example of PDS aiming to work with leading organisations that are focused on all that is good for the environment and good for the world.”
Added Sanjay Jain, Global CEO, PDS, “Our manufacturing business has developed operational excellence and turned profitable over the last year, contributing towards the bottom line of PDS. With this investment in the wash plant, we have not only equipped Progress Apparels to further amplify their capabilities in apparel manufacturing but also benefit from Good Fashion Fund’s expertise in sustainable practices and implementation of best-in-class technologies.”
This investment in PDS’s manufacturing facility is a testimony of PDS’s pledge in making the apparel manufacturing value chain sustainable and environmentally ethical for all stakeholders. Progress Apparels will be one of the first companies in Bangladesh to receive funding from Good Fashion Fund,
subject to required approvals, and shall stand to benefit from the expertise of the Good Fashion Fund in technical, environmental, and social matters for sustainable production.
PDS is a global fashion infrastructure company offering product development, sourcing, manufacturing, and distribution for major brands and retailers worldwide. The Company operates a vast global network covering over 50 offices, in 22 countries, with over 3,300 associates and 6,500 factory associates worldwide. The Company reported consolidated revenues of Rs 8,828 crore in fiscal 2021-22, an increase of 1.8x over the last five years. Further, Profit after tax has increased at a 5-year CAGR of 50 per cent, with a ROCE of 38 per cent in 2021-22.