Walton has signed an agreement with ice-cream brand Lovello to supply its domestically produced international standard ice-cream freezers.
As per the deal, Walton is set to supply total of 25,000 units of ice-cream freezers gradually to Lovello, reads a press release.
The deal was signed between Walton and Lovello at a programme held at The Westin Dhaka in the capital on Thursday (11 May).
Taufika Foods and Lovello Ice-Cream PLC's Chairman Datin Shamima Nargis Haque and Walton Hi-Tech Industries PLC's Director Zakia Sultana signed the agreement on behalf of their respective organisations.
Among others, Taufika Foods and Lovello Ice-Cream's Managing Director Dato Engr Md Ekramul Haque, Chief Operating Officer Engr Md Kamruzzaman, Chief Administrative Officer Engr Kawsar Ahmed, Walton fridge's Chief Business Officer (CBO) Tofail Ahmed, Chief Marketing Officer (CMO) Didarul Alam Khan, Senior Executive Director Md Shahjada Salim and Engr Tanvir Anjum, Head of Corporate Sales Ahmed Tanvir and Deputy Executive Director Rabiul Islam Milton also attend the function.
Addressing the event, Walton Hi-Tech Industries Director Zakia Sultana said, "The ice-cream market in Bangladesh is growing day by day and thus the domestic market of ice-cream freezers is widening as well. Such a promising giant market was import dependent. Reducing the import dependency, Walton made a revolutionary change in the domestic industrial sector. Now, Bangladesh is self-sufficient to meet the demands for commercial freezers."
"Following the top popular brand Lovello, we hope that country's other brands will also keep their faith on the locally manufactured Walton's international standard tempered glass door ice-cream and other commercial freezers," she added.
Taufika Foods and Lovello Ice-Cream's Managing Director Dato Engr Md Ekramul Haque said, "Walton and Lovello are top two renowned brands of Bangladesh. Every year, Bangladesh's ice-cream manufacturing companies import around 30,000 units of freezers. Through today's agreement between Walton and Lovello, Walton has started its journey in the domestic ice-cream freezer's market. Gradually, Lovello alone will purchase 25,000 units of ice-cream from Walton. The figure will be further increased in future."
Walton fridge's CBO Tofail Ahmed said, the annual market demand for ice cream freezers in Bangladesh is around 25,000 to 40,000 units whereas Walton's annual production capacity is more than one lakh units.
On the other hand, the annual demand for beverage coolers in Bangladesh is nearly 40,000 to 50,000 units while Walton's alone yearly production capacity is more than 40,000 units.
"Still now, some local dealers and industries are importing ice-cream freezers, beverage coolers and then distributing in the domestic market with high prices. As a result, country's foreign currencies have been spent and on the other hand the domestic manufacturers are incurring financial losses. The government should take stern actions against the imports of domestically produced beverage coolers and ice-cream freezers in a bid to help the local hi-tech industries move forward," he further said.
Lovello has more than 22,000 retail sales outlets across the country with registering nearly 20% business growth every year.
With the combination of cutting-edge technology and state-of-the-art machinery, Walton is producing and marketing over 250-model of fridges at its headquarters in Chandra of Gazipur, adds the release.
The fridges include huge energy efficient frost and non-frost refrigerator, freezer, ice cream freezers and beverage coolers.
Worldwide recognised environment-friendly R600a refrigerant is being used in the compressors of Walton fridges that saves energy and environment simultaneously.