DHAKA: Gulf News, the renowned newspaper of the Middle East, praised Bangladeshi electronics company Walton publishing a report on its online version headlining ‘Bangladesh electronics giant Walton enters GCC market’.
“Bangladeshi consumer electronics brand Walton has entered the Gulf through a franchise agreement with a Dubai-based company. Separately, a Qatar-based company acquired the rights to Walton`s business on the peninsula,” says the report on Tuesday.
Employing 12,000 workers in Bangladesh`s largest household consumer goods manufacturing plant, Walton distributes 4,500 types and models of goods ranging from mobile handsets, microwave ovens, DVD players, LCD and LED televisions to motorcycles and sells them through a network of 4,986 outlets, sales centres and dealers across the country, the report added.
Walton manufactures 1.4 million refrigerators and freezers, 300,000 air conditioners, 1 million television sets and 300,000 motorcycles, the Gulf News mentioned.
Mahmoud Mamun, Managing Partner of Mohd Moqbul Trading LLC-franchisee of the Walton brand, told the Gulf News: "We started three months ago and our first consignment has been sold out before schedule."
Distributorship and sub-franchisee arrangements are being finalized in all seven emirates and Al Ain within the UAE and Oman before entering the Saudi market, Mamun further said adding this is in addition to five containers re-exported to Afghanistan.
Walton is now in high progress in producing electronics products and marketing them labeling in the products as ‘Made in Bangladesh` in home and abroad, the Gulf News reported.
Walton brands are growing in popularity due to the perceived quality and comparatively lower prices, the reports further said adding the availability and awareness of these brands are closing the gap in brand equity between multinational and local brands.
Link of the report Gulf News:
http://gulfnews.com/business/aviation/bangladesh-electronics-giant-walton-enters-gcc-market-1.990514
BDST: 2030 HRS, MAR 06, 2012
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