After almost phasing out the foreign refrigerator brands in a decade, homegrown brand Walton is widely dominating the local market.
Occupying over two-thirds share of the local refrigerator market, around half of television and one-third of air conditioner markets, the company is now heavily pursuing its dreams to flourish in the global map.
Striving for maximum value addition and achieving technological excellence is paying off, as the company is seeing manifold demand abroad – both for its finished products and components like compressors, according to Engineer Golam Murshed, managing director of Walton Hi-Tech Industries Ltd.
"We expect the winning trend in the local market will continue, while the opportunity in the international market is much bigger," said the boss of the country's largest electronics and electrical appliance manufacturer.
In a short interview with The Business Standard over phone on Monday, he talked about the growing demand for Walton-made refrigerators, televisions, air-conditioners, appliances and said most quality conscious electronic markets including Germany are placing orders with Walton.
His company began exports in some least developed markets years ago, but the takeoff has been happening very recently as already 40 countries have proved to be markets of Walton and its nother brand Marcel.
"The days of a five-year warranty for refrigerator compressors are gone. Walton is now offering a 12 years' guarantee for the compressors it manufactures in Bangladesh, as the lone player for the vital component of refrigerators and air conditioners," said Golam Murshed.
He said the company has hired some best talents from the world's top companies so that they can drive Walton up to its "Vision 2030" for becoming one of the top five brands in the industry globally.
The Bangladesh government's policy support helped Walton grow. Golam Murshed said.
"The company needs to work in some countries where it faces non-tariff barriers," said Murshed.