In an exclusive interview with Bangladesh Textile Journal, Mahbub Khan Himel, director of Mithela Group, experienced his experience as a next-generation entrepreneur.
Please tell us about your journey as a next-generation entrepreneur. When you started and how everything is going?
I am sharing today what I have learned from my journey for the last few years. We started our textile business in the early 90s with garments as a family business. My eldest brother Mr Azhar Khan, Chairman of Mithela Group took initiative to establish an export-oriented weaving mill at Narayangonj belt which is known as a textile hub in the country.
As a young family member, I am so lucky enough to work closely with our Honorable Chairman, Managing Director, and learned a lot from my brothers along with other officials.
There were various turning points I have faced where you can never wait for the right moment to come.
You have to do what is needed to do and that should be consistent. Business opportunities are available everywhere. Any business can develop into a large company if it is well planned and managed what Mithela Textile Industries have been proven nicely.
We know that the next generation of family business leaders intend to make changes when they take over. What change you have brought about in leadership, strategy, and governance structure?
We started our business in the ’90s and I hope the founder of our group implemented the right structure and policies for the company. It really did not need to be changed much. We just adapted to the updated technology and the state-of-the-art trends.
Over the course of time, things changed to computers, software, automation, green, etc, but the basis and value are still the same.
How do you see the young entrepreneurs of the country?
Currently, young entrepreneurs and the next generation are in full swing in businesses. They are bringing new technology, and innovation, and are more focused on work, sustainability, circularity, and human rights.
A number of young entrepreneurs are working hard to brand Bangladesh, I think the young generation is now more focused on the country’s economic development than ever. I also believe the country’s textile and apparel sectors are in safe hands.
What is the current situation of Mithela Group?
Now Mithela Textile has become one of the biggest weaving units in Bangladesh. Slowly we created a huge market from all over the world. We immediately thought to form a green export-oriented dyeing and finishing factory beside our weaving units which was completely a dream come true in 2017.
As you know, Mithela Textile became a Leed platinum-rated green category factory. Our capacity is 5 million yards per month for non-denim solid dyed and printed fabrics.
When did the Mithela Group’s factory get the LEEd certificate? How motivated you to build a green factory?
Mithela Textile Industries Limited, the world’s first LEED Platinum-certified Green Industry in solid dyed fabric, was established in the year 2002.
Mithela Textile Industries Limited, fostered by the Mithela Group, is the only textile industry in the whole of the Asian Continent that has been acknowledged for its commitment towards Mother Nature.
For its contribution towards cleaner and greener earth, our industry has been bestowed with a prestigious certificate which is the ‘LEED Platinum certificate’ given by the United States Green Building Council (USGBC) in the year 2018 for solid dyeing woven materials without emitting toxins that might hamper the environment surrounding the industry.
How do you explain the current situation of the country’s textile industry?
It is anticipated that 2023 is going through a challenging time for the world economy, particularly for Bangladesh.
In 2022, the world economy just started to recover from the shock of the Covid-19 pandemic. But the Ukraine-Russia war has changed the total scenario.
Due to war, the world is going through a dire economic situation due to inflationary pressure, global economic turmoil, and fuel shortage which have curtailed the purchasing capacity of buyers.
Moreover, the purchase orders also keep falling and the price of raw materials witnessed record highs.
Now, the question is how to counteract the upcoming headwinds. In the last few months, foreign organizations have changed their growth estimates for 2023.
It is pretty hard to stick to a proper plan and strategy at this moment but to wait for a suitable solution. Hope the country will get the needed solution to the power and energy solution.
However, we are very hopeful that in 2023 the technical textile will be the potential segment where Mithela Textile Industries Ltd has the ability and skills to grab the opportunity to explore and expand its business.
How can we promote our industry in the upcoming days?
The importance of the textile industry in the economy of Bangladesh is very high. Individual needs to enhance their skills and expertise to ensure the quality of the product.
We have to focus more on strong expertise, highly knowledgeable R&D, innovation, and choosing the best raw materials to produce consistent and high-quality of fabrics.
Moreover, the manufacturers of Bangladesh also have to focus on producing high-end products. The demand for MMF-made products is increasing in the global market but our share is very low in this segment as we still produce items through cotton.
We’ve to focus on MMF and set up more factories. In this regard, adequate support from the government is also needed along with the sincerity of the entrepreneurs.
Bangladesh has to diversify its product baskets and also find new markets outside of the USA and Europe. We should focus on Japan, Korea, India, the Middle East, Australia, and Latin American markets.
Bangladesh currently has 192 LEED-certified factories and the trend of establishing green factories must go on to prove the commitment of the entrepreneurs to the environment, ecosystem, and the next generation.
Mithela Textile consistently produces innovative and diversified products besides basic which is our strength to keep sustained in the coming days.
Now tell something for the new entrepreneurs who want a fresh start.
My suggestion for them is that you have to keep your learning mind open as long as you are alive.
You have to be more patient. You may fail in your first venture but you should prepare yourself for the next attempt. All of these I said is from my learnings, from my journey. Hope the best for you.
Our company will always be open for you, you can contact me for any advice at any time. I always like to work with the youth.
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