Joint venture proposal
03/07/2008
One of Pakistan's largest footwear manufacturers, Service Industries
Limited, is in talks with Bangladeshi firm Shoe Marketing Co about setting up a joint venture. The two companies disussed the idea at the recent Pakistan International Footwear Exhibition (JUFT 2008) in Lahore.
Monjurul Islam, the proprietor of Bangladeshi firm told www.footwearbiz.com that the new operation would be set up near Dhaka at an estimated cost of $7.35 million, with the two companies sharing responsibility for it 50:50.
The shoes the joint venture operation would produce would be mostly (80%) for the domestic market in Bangladesh.
Despite a 70% market share of Chinese products in Bangladesh, he was of the view that there is still a big market for men's, women's and children's shoes in the country.
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