Walton Group

Walton Group (Bengali: ওয়ালটন গ্রুপ) is a conglomerate based in Gazipur, Bangladesh. It was founded in 1977 by S.M. Nurul Alam Rezvi and operates in consumer electronics, home appliance, mobile phone, real estate, automobiles, and retail. The group's flagship company is Walton Hi-Tech Industries Limited..[1][2]

Walton Group
TypePublic Limited Company
DSE: WALTONHIL
CSE: WALTONHIL
Industry
Founded1977 (1977) commencement of business activities
2008 (2008) debuted as Walton Group
FounderS.M Nazrul Islam
HeadquartersKaliakair, Gazipur, Bangladesh
Area served
Worldwide
Key people
  • S.M Nurul Alam Rezvi (Chairperson)
  • Golam Murshed (Managing Director)
  • Muhammed Omar Faruk Ripon (CFO)
  • Aminul Islam Khan (Senior Executive Director)
Products
List
Brands
List
    • Walton Motors
    • Walton Mobile
    • Walton Electronics
    • Walton Hi-Tech Industries Limited
ServicesElectronics manufacturing services
RevenueIncrease ৳81.68 billion (US$760 million)
(FY 2022)
Decrease ৳18.7 billion (US$170 million)
(FY 2022)
Increase ৳12.17 billion (US$110 million)
(FY 2022)
Total assetsIncrease ৳160.44 billion (US$1.5 billion)
(FY 2022)
Total equityIncrease ৳101.38 billion (US$950 million)
(FY 2022)
Number of employees
21,000+
Websitewaltonbd.com
waltondigitech.com

With over 30,000 employees, Walton Group is one of the largest employers in Bangladesh. It operates more than 1,000 retail stores under the brand name "Walton Plaza" and has an international presence in China, India, and the United States.[3][4]

The company has been recognized as a prominent player in the Bangladeshi economy, with a significant presence in the country's consumer electronics, real estate, and retail sectors.[5][6][7][8] In 2019, it was ranked as the second-largest corporate donor in Bangladesh by the CSR Centre and Sustainability Excellence.[9]

History

Walton Group was founded by S.M Nazrul Islam. Nazrul started his career as a small businessman. After the Bangladesh Liberation War of 1971, 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.[10] 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 the chairman of the company.[11]

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 Asia's 8th compressor manufacturing country.[12]

In January 2018, Walton opens the first ever computer assembly plant. At the same time it became the first ever Bangladeshi company to export locally made laptops to Nigeria.[13]

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, otherwise known as "contract manufacturing".[14]

In April 2022, Walton acquired 3 European brands to make 4.8 million 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.[15]

In June 2022, Walton announced the establishment of a Research and Innovation Centre in South Korea.[16]

Acquisitions
  • In April 2022, Walton bought 3 European brands aimed at producing 4.8 million compressors a year, making the conglomerate the first-ever Bangladeshi brand to acquire any foreign brand.[17]

Manufacturing and production
  • In April, 2017, Walton established the country's first-ever and only compressor manufacturing factory.[18]
  • In April 2017, Walton inaugurated country’s the first ever smartphone manufacturing factory in Bangladesh.[19]
  • In January, 2018, Walton opened its first computer and laptop assembly plant in Bangladesh.[20]
  • In April 2020, Walton announced plans to produce ventilators.[21]

References
  1. "Walton launches affordable e-bike". The Business Standard. 2023-02-13. Retrieved 2023-03-10.
  2. "Consumers show great interest in Walton Smart Refrigerators in Ctg Trade Fair". Risingbd.com. Retrieved 2023-03-10.
  3. "Bangladesh-India Friendship Pipeline will contribute to energy security: Nasrul". The Business Standard. 2023-03-10. Retrieved 2023-03-10.
  4. "Walton buys 3 European brands to make 4.8m compressors a year". The Business Standard. 2022-04-06. Retrieved 2023-03-10.
  5. "Walton eyes becoming leading global brand". Risingbd.com. Retrieved 2023-03-10.
  6. "Walton achieves Superbrand award for 2nd consecutive time". Dhaka Tribune. 2023-02-13. Retrieved 2023-03-10.
  7. "Walton 1st Bangladeshi company to be featured in Nat Geo's 'Superfactories' Feb 26". The Daily Star. 2022-02-25. Retrieved 2023-03-10.
  8. "ATPF delegation visits Walton headquarter; overwhelmed by Bangladesh's progress in electronics industry". The Business Standard. 2022-10-23. Retrieved 2023-03-10.
  9. "Awards". waltonbd.com. Retrieved 2023-03-10.
  10. 'ওয়ালটন ' এক যুগেই দেশের শীর্ষ কোম্পানি (in Bengali), Prothom Alo, retrieved 2021-11-11
  11. Hussain, Shaukat. এক যুগেই দেশের শীর্ষ কোম্পানি. Prothom Alo (in Bengali). Retrieved 2021-11-11.
  12. "Walton sets up first-ever compressor manufacturing plant". Dhaka Tribune. 2017-04-07. Retrieved 2022-06-05.
  13. "Walton starts export of its locally made laptop". Risingbd.com. Retrieved 2022-06-05.
  14. "In a first, Walton to start exporting handsets to USA". The Daily Star. 2020-02-18. Retrieved 2022-06-05.
  15. "Walton expands its global footprint by acquiring three European brands". Dhaka Tribune. 2022-04-07. Retrieved 2022-06-05.
  16. "Walton sets up research centre in South Korea". Dhaka Tribune. 2022-06-04. Retrieved 2022-06-05.
  17. "Walton buys 3 European brands to make 4.8m compressors a year". The Business Standard. 2022-04-06. Retrieved 2022-06-05.
  18. "Walton Compressor: Country's first and only compressor manufacturing factory". The Business Standard. 2020-07-28. Retrieved 2022-06-05.
  19. "Walton inaugurates country's first smartphone factory". banglanews24.com (in Bengali). 2017-10-05. Retrieved 2022-06-05.
  20. "Walton to open first ever computer assembly plant on Thursday". Dhaka Tribune. 2018-01-17. Retrieved 2022-06-05.
  21. "Walton ventilators ready for clinical trials". The Business Standard. 2020-04-28. Retrieved 2020-08-25.
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