Company profile

Fortuna is a privately held entrepreneurial and innovative company located in Dhaka, Bangladesh. The
Fortuna management team has over 40 years of entrepreneurial business experience and has assets
operating in different market sectors internationally. Our team of managers at Fortuna led by the highly
experienced industrialist M. Abu Taher, possess years of experience and technical acumen.

History
Fortuna BANGLADESH was established in 1984 to manufacture and export garments. It has grown
and diversified into a major industrial conglomerate. Starting with 140 sewing machines and 250
workers in a rented house, the company grew to over 1500 machines and over 2,000 workers in its own
120,000 sq ft facility, and has diversified into a number of other industries such as IT, Education,
Restaurant, and Leather. Recently Fortuna has sold out its garments division and has invested in a new
shoe-manufacturing project with a capacity to produce 2500 pairs of shoes per day. Along with that,
Fortuna is opening in retail outlets to sell shoes, leather bags and accessories under its own brand
Fortuna. Fortuna's IT division has received accolades. Infra blue Technology Ltd in 2008 was one of
the winners of the FB fund competition administered by Facebook and funded by Accel and Founders
Fund.

Future goals
Mission :
Fortuna's mission is to help improve Bangladesh's economic well being in the global community by
creating new opportunities. Fortuna is a business organization that provides a variety of quality products
and services appealing to a diverse community. By building trusting, honest and sincere relationships
with overseas clients, employees, and partners, they hope to cultivate a stimulating environment
resulting in future opportunities for Bangladesh. To manufacture export world-class all kinds of
footwear to meet uo the demand and ensuring quality with environment safety.

Vision:
 Fortuna is open to strategic partnerships and joint ventures.
 Fortuna is currently looking for joint ventures in their shoe and fast food project.
 To became the Market leader by exporting all kind of world class shoes and footwear.
 Using advanced technological innovation.
 Satisfying customers through well experience professionals and infrastructure advantage.

Success:
 Entrepreneurial vision of the company's founder
 Thorough analyses to identify target markets and products
 Developing trusting relations with clients, partners and employees based on honesty, integrity
and sincerity
 Ensuring quality in every product shipped to our clients
 Making sure we follow through with our commitments
  Maintaining an emphasis on innovative and forward thinking

Assumption
The Fortuna Group was founded in 1984 by serial entrepreneur M. Abu Taher and initially focused on
the manufacturing of garments, serving popular brands worldwide. Since its inception, the Fortuna
Group has expanded its lines of businesses across a number of different industries but has remained
committed to Mr. Taher’s socially and environmentally responsible vision. Fortuna prides itself on its
commitment to excellence in manufacturing.

Fortuna has been involved in the apparel trade for over 30 years and is now a leading manufacturer of
footwear and accessories. Their state of the art production facilities allow us to produce 12,000 pairs of
shoes per day. They also have a liason office in the heart of New York City. Our manufacturing
operations are located in Bangladesh.

A decade ago, wearing foreign shoes was very common in Dhaka. But the trend is now being changed
by locally made branded shoes, thanks to the local manufacturer for their outshining performance.

At present, Bangladesh ranks the eighth position in terms of footwear manufacturing in the world. The
country’s footwear manufacturers have long been producing quality shoes. Earlier, most of the
companies confined their business only on export. With change of people’s lifestyle and increasing
buying capacity, many of the companies are now entering into local market with their own brands.
According to the footwear industry insiders, more than 30 exporters have introduced local brands and
are now doing business in the country having their showrooms across the country.

International clients
Fortuna has had the pleasure of working with the following global customers and brands.

1. H&M
2. 3Suisses
3. Bonprix it’s me!
4. Autenti
5. Juju & Co
6. Bayok
7. Hermes
8. La Redoute
9. Motherhouse
10. Wortmann
11. Tamaris
12. Marco Tozzi
13. Jana Current Strategies
Supplies
Fortuna has its own tannery unit which sell to both its footwear unit and other client. Ruma Leather
industry was bought by Fortuna group as a strategic unit. The tannery is located in Hazaribhag on three
quarter acer plot of land .it has state of the art equipment in its tannery with capacity of producing
5,00,000 square feet of finished leather per month. Ruma is targeted to reach $12 million in export,
annually, by leveraging its experience technicians and management team. Other materials are sourced
from china, India, Taiwan.

Manufacturing
Fortuna park is the manufacturing department of Fortuna shoes. It is located in kunia, Gazipur and was
set up in 2010. The manufacturing plant, which required at initial investment of Tk 56 core to set up,
has a capacity to produce around 6000 pairs of shoes and 5000 bags per. There are four lasting lines-
the 40000 square feet factory in unit 1 and 30000 square feet in unit 2. The factory produces footwear
product mainly for the international market, but also manufactures shoes and accessories for the
domestic market. Fortuna has its own shoe moduling factory. The moduling factory sources plastic from
China, and ensure the shoes are perfectly shaped.

Product Offering

Women’s Shoes: Fortuna produce heels and flat for women, its price range from around 600 TK to
around 3000 TK for women’s in the local market.

Men’s Shoes: It produce men’s shoes as intelligent , confident, stylist, creative relax , driven, modern,
and out of box

Kid’s Shoes: Fortuna specialized in producing kid’s shoes. Kid’s shoes range from lightweight to
medium weight to provide extra support for kids.

Others Item: Fortuna also sells bags, wallets, and others leather accessories.

Retail Outlets:

Fortuna is a brick and click type company. It has both physical outlets and online marketplace for its
shoes.

Retail shop: It has 20 retail shops in Bangladesh ,15 of which are in Dhaka, others are located in Sylhet,
Tangail, Kushtia. With its attractive store design, and quality assurance by its shopkeepers, Fortuna’s
domestic sales have been growing ever since its inception in 2010.

Online Shop: In response to the growing huge footwear demand, to cope up Fortuna has introduced an

online marketplace to make the purchase more convenient for the customers. The e-store or online
system give the home delivery of the product within 2 days . There are a tracking system, Consumers

are able to track their package online.

Capabilities:

 Sampling

 14 days if using available materials

 28 days if importing or developing new materials

 Current capabilities

 Canvas- 16000 pairs daily

 PU-16000 pairs daily
 Injection-2200 pairs daily

 Lead time

 Canvas-90-120+days
 PU-90-120+days
 Injection-90-120+ days

 Total machine capacity

 Canvas- 24000 pairs daily

 PU-24000 pairs daily
 Injection-2500 pairs daily

 Product line
Boots , ballerina, sandals, bags, shoes, accessories injected sneakers, espadrille.

 Current yearly export

$ 9.0 Million USD

 Inhouse facilities
Last factory, Outsole factory, Testing lab for abrasion, Flexing and sole bounding, Jute
braiding

 MOQ
Canvas / PU / Injection -50000 pair per style per color

 MISC
  Quality Control - AQL
 Payment terms - T/T or L/C
 Documentation - GSP Support
 Compliance: Social compliant and certified by H&M; Recently joined Higgs.

STRENGTH
 Good potential of quality raw materials for maximum added value.
 Ensuring quality in every product shipped to our clients
 Integrated production chain from raw materials to tanneries and footwear available.
 Low costs of production labor available (partly offset by low productivity due to lack of
skills).
 Established international trading practice
 Geographic position for the future markets.
 Practicing the advanced technology
 Customers from countries applying GSPs have been attracted by Bangladesh.
 Bonded warehouse facilities are available.
 No import duty on capital machinery for export.
 Export of Footwear merchandise to Japan is 100% duty-free.

WEAKNESSES

 Information for product line, product mix and export marketing is inadequate.
 Skilled designers and facilities for product design and development are unavailable.
 Trained or experienced workers to operate key machinery (lasting, sewing) are quite
insufficient.
 High rate of interest on term loan and working capital, and pattern for loans are distorting
prices.
 Footwear accessories (such as tapes, trims, buckles, linings, shoe-last etc.) are not locally
available.
 Lack of quality control systems; reliance on foreign certification with penalized lead-time.
 Limited product development and market orientation.
 Complicated rules and regulations in customs department, which affect lead-time and
acquisition of inputs.
 Partnership Marketing program has been a greatly felt needs.

OPPORTUNITIES
 Brand equity rapidly increase the export or market share.
 Uniqueness in exporting footwear. Gradual progress in the finishing process of leather.
 Gradual progress in the finishing process of leather.
 Local production of sandals and slippers is in high demand in Mid-East and Southern Africa.
 Cash incentive (15% on FOB) for leather footwear has been introduced and likely to be at a
higher rate.
 No import duties on raw hides or wet-blue hides for export-oriented leather industries.
 Proximity to future markets (South-East Asia)
 UNCTAD has been working with advocacy to EU to permit more time for LDCS.

THREATHS
 Price skimming strategy in local market.
 Almost no output of sole/insole leather developed in local tanning industry.
 Power of supplier though they are only a few the can influence on price.
 Leather footwear consumption is considerably replaced by casual footwear made of synthetic
materials.
 No organized industrial unit for sole production natural rubber based, TPR, NU or EVA.
 EU’s stringent condition on SPS, certification etc. (It needs time to be ready for compliance).