SQ ties up with Quantum (UK)
Tuesday, 2 October 2007
SQ Group, country's largest supplier of sweaters to high street retailers, and Quantum Clothing Group Limited, a renowned garment manufacturer based in the United Kingdom, have recently formed a joint venture to produce world-class shirt and lingerie.
This new Bangladesh based entity, 5Q Quantum Clothing Limited, capitalising US$15 million of partner investments over the next two years, will initially produce exclusively for Marks & Spencer (M&S). Under the terms of agreement, Quantum will bring in technical expertise and modern shop floor management system, while SQ will provide the infrastructural facilities in its Supply Chain City situated at Valuka, Mymensingh.
This supply chain integration, SQ Quantum Clothing Limited, will combine the competitive advantages of its parent companies to deliver world-class services and products that will meet the need of the design-to-delivery solutions of the customers. The joint venture project will generate employment opportunity for 2000 persons.
'The joint venture marks Quantum's first strategic partnership in Bangladesh. Quantum has a long trading history and vast experience in garment manufacturing for renowned buyers like M&S. This is truly an international company with factories and resources all over the world.
SQ has been in the sweater manufacturing business for over a decade now, and is one of the market leaders and trendsetters in this industry today. Throughout its existence, it has concentrated on specialising in the production of a single item, sweaters, and created its own niche in the market. This joint venture is SQ's initial stride towards product diversification. SQ currently employs over eight thousand employees.
This new Bangladesh based entity, 5Q Quantum Clothing Limited, capitalising US$15 million of partner investments over the next two years, will initially produce exclusively for Marks & Spencer (M&S). Under the terms of agreement, Quantum will bring in technical expertise and modern shop floor management system, while SQ will provide the infrastructural facilities in its Supply Chain City situated at Valuka, Mymensingh.
This supply chain integration, SQ Quantum Clothing Limited, will combine the competitive advantages of its parent companies to deliver world-class services and products that will meet the need of the design-to-delivery solutions of the customers. The joint venture project will generate employment opportunity for 2000 persons.
'The joint venture marks Quantum's first strategic partnership in Bangladesh. Quantum has a long trading history and vast experience in garment manufacturing for renowned buyers like M&S. This is truly an international company with factories and resources all over the world.
SQ has been in the sweater manufacturing business for over a decade now, and is one of the market leaders and trendsetters in this industry today. Throughout its existence, it has concentrated on specialising in the production of a single item, sweaters, and created its own niche in the market. This joint venture is SQ's initial stride towards product diversification. SQ currently employs over eight thousand employees.