Bangladeshi tannery and footwear group Apex Footwear has reported sales of Tk 4.7 billion ($60.5 million) in the six months to the end of June, down from TK 5.3 billion in the comparative period a year ago.
 
The dip is a change from the pattern it has followed over the past few years - sales doubled between 2010 and 2014.

The tannery, which buys the bulk of its hides and skins during Muslim festival Eid-ul-Azha, employs more than 700, and supports the community by helping workers with healthcare costs and loaning money for house building. It began to focus exports on China in recent years, following a downturn in sales to Italy.

However, it has warned the environmental situation in Bangladesh is taking their toll. In its 2014 report, it said: “As a result of this over dependence on China, Bangladesh’s leather industry faces a risky situation. Environment is a big issue globally. The main concern of the leather industry is how quickly we are able to relocate to Savar."

The footwear side of the business is one of the biggest leather shoe manufacturers in the country and employs more than 9,000.