Japanese firm Lion announces joint venture with Kallol in Bangladesh
Lion Corporation (Lion) announced to establish a joint venture company with Kallol Limited, which operates in Bangladesh.
The joint venture is likely to start operation in October, reads a statement issued on Tuesday.
According to the statement, Lion will hold 75% share and Kallol 25% share in the joint venture - Lion Kallol Limited.
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To expand the overseas business, Lion is working to reinforce its businesses in countries and areas where it already operates while also entering new countries and areas with the aim of expanding its presence in Asia.
Until now, Lion has exported certain products to the Bangladesh market through its overseas affiliates. Now, to expand its business in this market, Lion has decided to make a full-fledged entry into Bangladesh by establishing a joint venture company in partnership with Kallol.
Kallol Group of Companies boasts brands in the fabric care, beauty care and other fields, as well as a distribution network and sales capabilities covering all of Bangladesh.
