“Fashion Is My Passion.”: Nahid Fakir
Owner and Managing Director Nahid Fakir shares how he turned Fakir Fashion Limited into a US$140 million company in just over a decade.
Fakir Fashion Limited Owner and Managing Director Nahid Fakir comes from a long line of savvy businessman, starting with his grandfather in the mid-19th century. Founding the Fakir Group, which today boasts an impressive portfolio of businesses, his grandfather opened the gates of entrepreneurship for the family’s next generations.
"My father and uncles started in the local garment industry in 1973," Nahid shares. "Later, in 1988, we started the export industry, and it was a good company. My cousins, our fathers, uncles, everybody – we were all together."
While entrepreneurship is clearly in Nahid’s blood, it’s fashion that’s in his soul. "In 2009, my father gave me the go-ahead to start my own business. That’s when I founded Fakir Fashion," he says.
"Fashion is my passion. It’s an industry that’s always changing. The fabrications, designs and styles that I am doing this year are completely different to the ones I did last year. We have to work for the future, and that’s very interesting for me. It’s challenging."
But that challenge is also his motivation, and this motivation is what has driven the company to its incredible success today. When Fakir Fashion got its start, it only had seven lines.
Today, it has nearly 130 and boasts partnerships with high-profile fashion brands such as Guess, Zara, H&M, C&A and Gina Tricot. Not to mention its annual turnover is roughly US$140 million. It’s an accomplishment that can be attributed to Nahid’s relentless pursuit for excellence and keen business sense.
However, he credits it all to his team. "Fakir Fashion’s success is possible because of my employees. They’re like family," he shares.
"We give them perks like free doctors and a good salary. They’re very happy with us, and we are also very happy with them. I believe that taking care of our staff only makes us stronger." In return, employees work hard to look after the business.
"Because we have a good management system and a well-established supply chain managed by highly skilled professionals, we are able to reduce delivery times for our clients," Nahid explains.
I believe that taking care of our staff only makes us stronger.
"Customer satisfaction is number one for me. I am the strategic partner for a number of big labels. That means they are giving us their five-year business projections, allowing us to prepare and align with them. I continually invest in that part of the business so it will be secure, and I can give our buyers what they want now and in the future."
That’s why Fakir Fashion’s in-house design team is so critical. They help the company stay on top of the season’s latest trends as well as find innovative ways to infuse sustainability into its every fibre.
"The designers in our London office are very close to the market and provide us with innovative ideas to discuss here in Bangladesh," Nahid says.
"For example, in terms of the fabrics we create, there are a lot of sustainable options like using all-natural vegetable chemicals that are completely harmless. Our buyers love these innovative products because these days, more people want sustainable options. Finding ways to fulfil their desires helps boost our business."
Navigating COVID-19
At the height of the COVID-19 pandemic in March 2020, Fakir Fashion Limited was forced to close its doors for an entire month. Instead of letting this get him down, the company’s Owner and Managing Director Nahid Fakir saw it as an opportunity. "We used that time to think about how we could take on the challenges," he shares. "In that one month, I secured the premises and took all of the necessary precautions. That way, when things opened up again, we’d be ready." And ready they were. "When the government said we could reopen, we were able to open seven days sooner than our competitors," Nahid beams. "Because we started preparations early, we had already gained buyer support. We received a lot of opportunities because of the time we invested. The buyers trusted us. With their support, we were able to give them greater flexibility and free shipments. It was a win–win."
However, to Nahid, sustainability is much more than a marketing tool. It’s a responsibility. "This is for our global people and our world. We have to keep our world safe," he stresses.
"In our factory, we have set targets for the next five years to reduce carbon emissions. It’s a challenge, but I believe we have to keep sustainability at the forefront of everything we do. Everybody must take the necessary steps to make a better world."
And sometimes that also means looking right outside your front door. Fakir Fashion supports the local community by collaborating with WaterAid and the Sajida Foundation. "We’ve already made 118 sanitation stations in the different places where my employees are living," Nahid says.
We are a champion of quality.
"We take part in a lot of community service initiatives. As a third generation, creating a good office environment is in our DNA." As is excellence – it was always Nahid’s dream to create a world-class garment company grounded on that very principle. While this dream has been realised and Fakir Fashion is a recognised and revered the world over for the superior quality of its products, he is still committed as ever to continual improvements. "We are a champion of quality," Nahid enthuses.
"We have a good business, the strength of our design team and partnerships with the top brands. Every day there are new challenges, but I love to take them on. I have to think outside of the box, so I can run my business for a long time. And actually, that makes me feel pretty good."
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