A Turkish-Bangladesh joint venture has begun commercial production of plastic garment hangers, targeting a slice of a market estimated at $300–$400 million, as global supplier TAM Hangers deepens its footprint in one of the world’s largest apparel hubs.
The factory – set up by Turkey’s TAM Hangers and local conglomerate Meghna Group – was formally launched at Mirzapur in Tangail today (4 May), with top executives from both sides in attendance.
“We want to capture 50% of this market within the next 10 years,” said Gökhan Tezsezer, chairman of TAM Hangers, speaking to The Business Standard at the factory premises. “Given our strong customer base in Europe, we believe this is achievable.”
He described Bangladesh as a compelling destination for expansion, citing its large garment volumes and competitive labour costs. “It’s a very attractive business environment for a company like ours,” he said, noting TAM’s existing manufacturing presence in China, India, Turkey, the UK and Germany.
The venture – Tam Hangers Bangladesh Limited – is structured with a 51% stake held by TAM and 49% by Meghna. The partners have already invested around $10 million (Tk122 crore) and kicked off operations with 16 injection moulding machines.
“We plan to scale this up to at least 100 machines within five years, with total investment reaching $30–$40 million,” Tezsezer said.
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