In a crucial move to reshape Bangladesh’s industrial recovery, Japanese–Bangladeshi ethical fashion venture REVIVAL Group Co. Ltd. and REVIVAL Projects Ltd. have announced plans to lease and revive the long-closed BEXIMCO Textile Division.
The reopening marks a powerful moment of renewal for the nation’s workforce, with more than 25,000 workers poised to regain their jobs and reclaim the stability lost when the factory was forced to shut its doors, said a media statement on Sunday.
Supported by US-based financing partner Ecomilli, founded by leading Non-Resident Bangladeshi (NRB) professionals, the initiative marks one of the most significant employment restoration efforts in the country’s recent history.
The reopening promises to reverse the devastating impacts felt when BEXIMCO Textile was shut down due to loan defaults after over three decades of successful operations.
Huda Mohammed Faisal, CEO and Co-Founder of REVIVAL Group said, “We see this as far more than just the reopening of a factory. It is the restoration of dignity for thousands of families. Every job regained is a story of recovery and renewed confidence in the nation’s future.”
Dr Farhan S Karim, President of Ecomilli, said that as a non-resident Bangladeshi, it is an honour to help revive a facility that once powered our national economy.
“This isn’t about brain drain—it is about brain gain. We are proud to stand with the government of Bangladesh and REVIVAL to rebuild livelihoods and support the nation’s industrial resurgence,” he added.
Osman Kaiser Chowdhury, Managing Director of Beximco Ltd., mentioned that the company had tried relentlessly to keep the textile division operational until the government-mandated shutdown.
“Our primary concern was to protect the livelihoods of 42,000 workers and executives and to continue generating the nearly USD 40 million in monthly exports that sustained the business,” he said.
“Despite immense financial challenges, we kept our modern machinery in running condition so the factories could restart at a moment’s notice. The revival agreement with REVIVAL now makes that possible,” he added.
Under the first phase of the partnership, REVIVAL and Ecomilli will deploy USD 20 million in back-to-back LC support, with plans to expand to USD 100 million depending on factory performance and global demand.
The companies plan to resume production by December 2025, bringing back more than 25,000 workers with dignity and security. By 2027, REVIVAL projects annual profits of BDT 500 crore—revenues that will support repayment of outstanding loans and ensure long-term financial stability for the country’s largest textile brand.