As Turkish textile manufacturers have been shifting production to Egypt — with much of the nearly $3 billion in Turkish investment there coming from the textile sector — the new destination for the industry's accessory makers has crystallised: Bangladesh. The country, the world's second-largest textile exporter after China, is targeting an increase from $40 billion in current exports to $100 billion by 2030, attracting foreign investment with tax incentives, low costs and a competitive minimum wage. TAM Hangers is the first major Turkish company to take this step.
The investment was structured as a partnership with Meghna Group, one of Bangladesh's largest conglomerates. The factory — built in Mirzapur, in Tangail, north-west of Dhaka — required $10 million (about TRY 450 million at today's rate). The Bangladesh entity is named TAM Hangers Bangladesh Limited, with the Turkish firm holding 51% and Meghna 49%. Production started with 16 machines; the joint venture's medium-term target is to scale to 100 machines and capture a dominant share of the roughly $400 million global hanger market.
TAM's Chairman Gökhan Tezsezer set out the strategy in clear terms to local media: 'We want to capture 50% of this market within the next 10 years. Given our strong customer base in Europe, we believe this is achievable.' Founded in Istanbul in 1972, TAM operates a 35,000 sqm facility with more than 600 employees. Its customer portfolio includes global apparel brands such as H&M, Primark, C&A, River Island and Marks & Spencer.
Local partner Meghna Group is one of Bangladesh's largest conglomerates, active across automotive, light engineering, bicycles (the country's largest manufacturer and exporter), tyres, cement, packaging and textiles. The group is the local distributor for BMW, KIA and Ford, owns Prime Bank, and employs around 10,000 people. From a supply-chain perspective, the investment is a textbook tier-2 relocation bringing apparel-accessory production into the same garment hub serving European fashion chains: producing alongside Bangladesh's apparel mills allows clothing and hangers to ship in the same container, lowering freight cost and lead times for European retailers.
Key Takeaways:
1. TAM Hangers has opened a $10 million hanger plant with Meghna Group in Mirzapur, Tangail, Bangladesh (51%-49% JV).
2. Production started with 16 machines; the medium-term target is to scale to 100 machines and capture 50% of the $400 million global hanger market.
3. Founded in Istanbul in 1972, TAM operates a 35,000 sqm facility with 600+ staff and supplies H&M, Primark, C&A, River Island and Marks & Spencer.
4. Bangladesh aims to grow textile exports from $40 billion to $100 billion by 2030.
5. Local partner Meghna Group is Bangladesh's largest bicycle manufacturer-exporter, the local distributor for BMW, KIA and Ford, and owner of Prime Bank.
