REVIVAL Group Co Ltd and REVIVAL Projects Ltd, the Japanese–Bangladeshi ethical fashion and sustainability venture, are set to lease and reopen the shuttered Beximco Textile Division, clearing the way for more than 25,000 workers to return to their jobs, according to a press release.
Production is expected to resume by December, marking one of the most significant industrial restarts in recent years.
The initiative is backed by US-based financing partner Ecomilli, founded by Non-Resident Bangladeshi professionals.
The move follows years of uncertainty surrounding Beximco Textile, once a major force in the apparel sector. Its closure due to loan defaults left thousands jobless and pushed surrounding industrial communities into prolonged distress.
REVIVAL plans a full-scale restart by reinstating the original management team and bringing back the entire workforce.
Senior leaders from Japan will introduce Japanese management systems, while a global Big Four accounting firm will ensure governance aligned with international standards.
The company said its long-term vision extends beyond reopening. It aims to reconnect Beximco Textile with its global buyers and develop new international partnerships under its “design locally, sell globally” philosophy.
REVIVAL also plans certification programmes and advanced training for young designers, alongside establishing a Design Institute with educators from Japan, the US and Europe.
Momentum toward reopening has accelerated. A draft tripartite agreement between REVIVAL Projects Ltd, Beximco and Janata Bank was submitted on 8 October.
Janata Bank’s board is scheduled to review it next Tuesday, with all parties expecting to finalise the signing within the month.
Senior representatives from REVIVAL and Ecomilli are expected in Dhaka in the third week of November for the ceremony.
Under the first phase, REVIVAL and Ecomilli will deploy $20 million in back-to-back LC support, with plans to expand to $100 million.
Beximco projects annual profits of Tk500 crore by 2027 to stabilise operations and support loan repayments.
The reopening signals a broader message of industrial renewal powered by Japanese precision, US financial partnership and the resilience of Bangladeshi workers.
Beximco’s Textile Division was shut down at the end of February this year amid an acute financial crisis following the political regime change last year.
Beximco Vice Chairman Salman F Rahman, an adviser to the ousted prime minister Sheikh Hasina, is now in jail in cases linked to the state killing of July uprising protesters.
