Walton, the Bangladeshi giant electronics and home appliance conglomerate, is at the peak of producing 4.8 million compressors annually, which will carry company trademarks and branding to 57 countries. Walton Hi-Tech acquired three brands – ACC, Zanussi Elettromeccanica (ZEM), and Verdichter (VOE) in April and established a research center in South Korea in June of 2022.
Walton has a hold of 75% in Bangladeshi Refrigerator market and with foreign company acquisition, the company will soon release refrigerators, air conditioner and washing machines under the ACC brand and will start their operational offices in Europe and USA.
In 2018, Walton started exporting locally manufactured Laptops to Nigeria and mobile phones to the USA market. However, due to the corona pandemic, both contracts ended. Currently, Walton is running their export operation in 40 countries and regions including EU, USA, Russia and Middle East.
According to some industry experts, Walton is doing immensely well in building an electronics and home appliance ecosystem in bangladesh. They are gradually leveling up the game along with manufacturing and exporting quality consumer products.
According to Golam Murshed, CEO, Walton, the company has mid and long term planning, which relates to market penetration at home and abroad, production and export volume, and export market expansion with the strong presence of the Walton brand [and] global buyers’ satisfaction.
The company currently employs 21 thousand staff globally and had a revenue of $867 million in 2021. This number may seem like a fraction of major consumer product makers like Samsung and Philips, but considering the supply chain disruption due to pandemic and Russia-Ukraine War, Walton holds the potential.
Golam Murshed said, “Production costs have increased due to higher raw material prices, But if we raise prices too much then they’ll be beyond customers’ reach … so we’re walking a thin line. We’re going through a very hard time but I expect the situation will be normal soon and good days are ahead. If the company is on track with goals and deals with the situation with patience, I believe we will be able to attain our goal.”
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