In a bold strategic move, DBL Group, one of Bangladesh’s largest conglomerates, has acquired Glory Textile and Apparels Limited for Tk425 crore, reinforcing its position in the high-end textile and apparel sector. The acquisition was backed by Standard Chartered Bank and Pubali Bank PLC, who acted as financing partners, reportedly.
Confirming the acquisition, DBL Group’s Managing Director highlighted the decision as part of the company’s vision to expand its presence in premium apparel manufacturing. With this factory, DBL will focus on producing high-value garments for its global clientele.
Established in 2017 in Bhaluka, Mymensingh, Glory Textile and Apparels is a knit composite factory that officially became a BGMEA member in 2022. Despite its state-of-the-art facilities, the factory had been facing financial difficulties before its owners decided to sell.
The production facility, which boasts 36 production lines, includes knitting, dyeing, embroidery, and all-over printing capabilities. Following the official handover at DBL Group’s corporate office in Dhaka, the company immediately resumed production, ensuring a seamless transition.
DBL Group is not just taking over operations but also upgrading the factory to align with its standards of excellence. The company has outlined an aggressive expansion strategy, adding 48 new production lines, which will significantly boost its manufacturing capacity.
Read more: Bangladesh Becomes Fastest-Growing Apparel Exporter to the US in January
Looking ahead, DBL aims to achieve $100 million in additional exports from this facility within the next 12 months. To support this growth, the workforce – currently 1,340 employees – will immediately be expanded by 1,000 new hires, with plans to scale up to 5,000 workers within a year.
The factory’s dyeing capacity of 40 tonnes of fabric per day positions it as a key player in Bangladesh’s textile industry. Spanning 480,000 square feet, the facility can produce 100,000 garments daily, knit 20 tonnes of fabric, and print 35,000 pieces per day.
The day after the handover, DBL Group’s leadership, including MA Jabbar and directors Awabin Araf, Ahnaf Abed, and Mohammed Aman Abrar, visited the factory to assess operations and mark the beginning of this transformative phase.
DBL Group, which operates more than 50 manufacturing units across Bangladesh and employs over 40,000 people, has firmly positioned itself as a global apparel powerhouse. With exports exceeding $1 billion annually, its portfolio includes knitwear, denim, and woven products for markets in Europe, the US, and Canada.
Beyond textiles, DBL Group has diversified into ceramics, pharmaceuticals, ICT, and retail, selling global brands such as Levi’s, Nike, Adidas, and Puma in Bangladesh. The conglomerate, which runs 24 business ventures and employs 47,000 people, continues to drive innovation and growth, solidifying its place as a leader in Bangladesh’s industrial landscape.
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