Walton Group

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Not to be confused with the American marketing firm The Walton Group Inc.
Walton Group
TypePublic Limited Company
DSE: WALTONHIL
CSE: WALTONHIL
IndustryTelecommunications

Consumer Electronics Information technology Smartphones

Electronics
Founded1977; 47 years ago (1977) commencement of business activities
2008; 16 years ago (2008) debuted as Walton Group
FounderS.M Nazrul Islam
HeadquartersKaliakair, Gazipur, Bangladesh
Area served
Worldwide
Key people
S.M Nurul Alam Rezvi Chairman
S.M Shamsul Alam, Director
S.M Ashraful Alam, Director
S.M Mahbubul Alam, Director
S.M Rezaul Alam, Director
S.M Manjurul Alam, Director
Tahmina Afroz, Director
Raisa Sigma, Director
Golam Murshed (CEO)
Products
ServicesElectronics manufacturing services
RevenueIncreaseUS$867 million (2021)
IncreaseUS$327 million (2021)
Total assetsIncreaseUS$1.58 billion (2021)
Total equityIncreaseUS$1.09 billion (2021)
Number of employees
21,000+
Subsidiaries
Websitewaltonbd.com

Walton (Bengali: ওয়ালটন) is a Bangladeshi conglomerate based in Gazipur, Bangladesh. It comprises numerous subsidiaries and affiliated businesses, most of them united under the Walton brand. The subsidiaries include Walton Motors, Walton Mobile, Walton Electronics, and Walton Hi-Tech Industries Limited. Walton produces electronics, computers, motor vehicles, and telecommunications products. It is the first Bangladeshi brand to launch mobile phones in the market[1][2] and also the first fridge compressor manufacturing company in Bangladesh since 2017.[3][4]

History

S.M Nazrul Islam is the founder of Walton Group. Nazrul started his career as a small businessman. After the independence, he started a separate business. In 1977, he founded a new company named after his eldest son S.M Nurul Alam Rezvi called Rezvi & Brothers, abbreviated as R.B. Group.[5] At that time, they used to import televisions. The company made its debut in 2008 as the Walton Group by starting refrigerator manufacture. When S.M Nazrul Islam died in 2017, his eldest son S.M Nurul Alam Rezvi took over as chairman of the company.[6]

In April, 2017, Walton established the country's first-ever and only compressor manufacturing factory. With the inauguration of the plant, Bangladesh has emerged as the world's 15th as well as the Asia's 8th compressor manufacturing country.[7]

In January, 2018, Walton to open first ever computer assembly plant. At the same it became the first ever Bangladeshi company to export locally made laptops to Nigeria.[8]

In February 2020, For the first time, Walton started exporting handsets to the United States as a Bangladeshi original equipment manufacturer company to a renowned American brand. This kind of production is known as "contract manufacturing".[9]

In April, 2022, Walton buys 3 European brands to make 4.8m compressors a year. Walton Hi-Tech Industries PLC announced the purchase of two more brands – Zanussi Elettromeccanica (ZEM) and Verdichter (VOE) – from Italia Wanbao-ACC. The Bangladeshi electronics giant acquired the rights of more than 50-years old reputed three European electronics brands and its production plant, a trademark, patent, design and software. With the procurement of the more than 50-year-old Italia Wanbao-ACC compressor brand, Walton is now on course to gain a major foothold in European countries.[10]

In June 2022, Walton announced Establishment of a Research and Innovation Centre in South Korea.[11]

Acquisitions

  • In April, 2022, Walton buys 3 European brands to make 4.8m compressors a year.[12]

Products

  • In April, 2017, Walton established the country's first-ever and only compressor manufacturing factory.[13]
  • In April 2017, Walton inaugurates country’s first ever smartphone manufacturing factory in Bangladesh.[14]
  • In January, 2018, Walton opened its first Computer and Laptop assembly plant in Bangladesh.[15]
  • In April 2020, Walton announced plans to produce ventilators.[16]

References

  1. ^ Rahman, Saifur (6 March 2012). "Bangladesh electronics giant Walton enters GCC market". Gulf News.
  2. ^ Showkat, Asif (29 January 2012). "Walton will be global brand by 2015". Daily Sun. Archived from the original on 30 August 2013.
  3. ^ "Walton Compressor: Country's first and only compressor manufacturing factory". The Business Standard. 2020-07-28. Retrieved 2022-04-11.
  4. ^ "Walton sets up first-ever compressor manufacturing plant". Dhaka Tribune. 2017-04-07. Retrieved 2022-04-11.
  5. ^ 'ওয়ালটন ' এক যুগেই দেশের শীর্ষ কোম্পানি, retrieved 2021-11-11
  6. ^ হোসেন, শওকত. "এক যুগেই দেশের শীর্ষ কোম্পানি". Prothomalo (in Bengali). Retrieved 2021-11-11.
  7. ^ "Walton sets up first-ever compressor manufacturing plant". Dhaka Tribune. 2017-04-07. Retrieved 2022-06-05.
  8. ^ "Walton starts export of its locally made laptop". Risingbd.com. Retrieved 2022-06-05.
  9. ^ Report, Star Online (2020-02-18). "In a first, Walton to start exporting handsets to USA". The Daily Star. Retrieved 2022-06-05.
  10. ^ "Walton expands its global footprint by acquiring three European brands". www.dhakatribune.com. 2022-04-07. Retrieved 2022-06-05.
  11. ^ "Walton sets up research centre in South Korea". www.dhakatribune.com. 2022-06-04. Retrieved 2022-06-05.
  12. ^ "Walton buys 3 European brands to make 4.8m compressors a year". The Business Standard. 2022-04-06. Retrieved 2022-06-05.
  13. ^ "Walton Compressor: Country's first and only compressor manufacturing factory". The Business Standard. 2020-07-28. Retrieved 2022-06-05.
  14. ^ BanglaNews24.com (2017-10-05). "Walton inaugurates country's first smartphone factory". banglanews24.com (in Bengali). Retrieved 2022-06-05.
  15. ^ "Walton to open first ever computer assembly plant on Thursday". Dhaka Tribune. 2018-01-17. Retrieved 2022-06-05.
  16. ^ "Walton ventilators ready for clinical trials". The Business Standard. 2020-04-28. Retrieved 2020-08-25.
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