Bangladesh, Aug. 22 -- European fashion retailer LPP has reaffirmed its commitment to sourcing apparel from Bangladesh, saying financial complications linked to FES will not affect its contractual obligations to local garment manufacturers.
The Polish group sources more than $750 million in apparel annually through a network of over 350 manufacturing partners in Bangladesh, according to a press release.
The company described itself as the eighth-largest buyer of garments from Bangladesh and said its sourcing activities supported thousands of jobs and contributed to the country's industrial development.
Addressing recent financial complications, LPP said FES owed it Tk3,650cr, equivalent to approximately 1.1 billion Polish zlotys, resultin...