INDEPENDENT UNIVERSITY BANGLADESH INB301 SEC-1 “ Internationalization of a local company in Bangladesh” Name ID Junaed Saimon 2020244 1911227 1921393 2021120 1920611 Abida Islam Hridyta Alam S.MYaminur Rahman Raha Jannat Bristy Product Identification – Sportswear • Internationalizing sportswear • Instinct Bangladesh • Why sportswear? Country Selection and Evaluation Our focus mainly will be exporting sportswear and fashion sportswear to the European market. As the market is under EU market regulations, the tariff is very low or close to zero for Bangladesh. Europe has already a large demand for various popular sports titles and active sports in general. Likewise, the need for professional sports clothing and sportswear fashion is plenty. We will be planning to evaluate Germany, Italy and France for our products to be exported. Evaluation of Germany Germany is the largest import market for fashion sportswear in Europe. Germany is the largest trading partner of Bangladesh in Europe and the second largest globally The Everything but Arms (EBA) policy of the European Union is granting Bangladesh duty-free access to the EU for all products, except arms and ammunition. Due to COVID 19 virus and the world pandemic like many countries Germany faced economical backlash. However, In June 2021 alone, Germany exported goods valued at 118.7 billion euros and imported goods valued at 102.4 billion euros Germany’s economic freedom score is 72.5, making its economy the 29th freest in the 2021 Index Considered a country of thinkers, poets, and, nowadays, businesspeople, German culture and people are, to a large extent, all about reason and logic Regarding politics Germany is a democratic, federal parliamentary republic. Evaluation of France France is the second largest market for fashion sportswear in Europe, with a value of €1.8 billion in 2019 (up from €1.2 billion in 2014) France is Bangladesh's fourth largest export market. Even though France provides EBA policy to Bangladesh many companies avoid trading with France for the remarks, which have been perceived as “anti-Islam”, have led to calls for boycotting French brands. France’s economic freedom score is 65.7, making its economy the 64th freest in the 2021 Index. France's distinct individualism is an essential cultural trait that highlights the French desire for individuality and freedom of expression in both society and business. France is a highly diverse country and rich in cultural activities. Equality and unity are important to the French. With an index value of 8.12, France is ranked 20th in the world in terms of democracy. This indicates that France is a fully democratic country. Evaluation of Italy Italy is the third largest import market for fashion sportswear in the EU. Bangladesh and Italy have formed 'Italy-Bangladesh Chamber of Commerce and Industry (IBCCI)' to boost the bilateral economic relations. Italy’s economic freedom score is 64.9, making its economy the 68th freest in the 2021 Index. Italy is home to more than 62 million individuals as of 2017 and is ranked 23rd in population size when compared with other countries throughout the world. Italy is a parliamentary republic; the President of the Republic serves mostly as a ceremonial figurehead. He is the Chief of State, and he is chosen for a seven-year term indirectly. Selected Country to Export Sportswear: Germany • We selected Germany to export our sports wears. • Germany has the largest market expansion for fashionable sports wears in Europe. • Bangladesh and Germany are maintaining an excellent bilateral trade relationship. Market Entry Mode • Sale of products and services in foreign countries that are sourced in the home country • Access to more consumers and businesses which increases sells and profits • Greater production can lead to larger economies of scale and better margins. • Low financial exposure, reducing risk and balancing growth Best Strategy of Internationalization • Exporting of Sportswear • Choosing best strategy for company • Why Germany • In the long Run have to evolve Conclusion • The main plan of Instinct Bangladesh is to manufacture in its home country and export it to Germany • Instinct Bangladesh can win the hearts of the German people THANK YOU!
