Orion Group, one of the leading conglomerates of Bangladesh, launched Orion Home Appliances Ltd on Thursday and inaugurated two brand showrooms in Dhaka – one in Mohammadpur and the other in Mirpur 11.
Orion Group's Managing Director Salman Obaidul Karim, directors Arjuda Karim and Zareen Karim and Mehadi Hasan were present during the inauguration events of these two outlets. Besides, two more outlets at Jatrabari and Lalbagh area of the capital are set to be launched on Friday.
"Small home appliances that fall under the light engineering category have a good potential for exports, and the last fiscal announcement of a 10-year tax holiday inspired us to plan big in this segment,"Salman Obaidul Karim said on the occasion.
Providing more details, the company's Head of Business Development and Corporate Sales Md Rafiul Qadr Siddiqui Parvez said, "The company has already begun manufacturing and assembling a complete range of home appliances in its newly built factory in Bhaluka, Mymensingh.
"The conglomerate invested over Tk450 crore in this venture, which created around 1,000 quality jobs for local individuals."
Orion followed European standards to build the factory, while their own research and development team designed the products.
During the soft launching, Orion's appliances portfolio included eight refrigerator models in a diversified range of colours. Its televisions range from 24 inches to 55 inches and all are 4K smart TV sets.
"We are offering a complete range of electronic and electrical appliances at a competitive price. We are also ensuring the best quality and durability of our products," Parvez said.
Alongside covering every strategic location of the capital and other big cities, Orion Home Appliances Ltd is going to expand its reach across the country. It has a plan to open 50 outlets very soon and the number would reach 200 in the span of a year.
"On top of that, dealerships and franchises would help the company reach a wide range of customers," he added.
Orion Group has assumed a leadership role with its operations in the pharmaceuticals, cosmetics & toiletries, infrastructure development, real estate & construction, power, high-tech agro products, hospitality, textiles and garments, aviation management sectors. Some of these units are successfully listed in the stock exchange.
Bangladesh's annual market for electronics and home appliances has grown to over Tk10,000 crore and it is growing at a double digit rate every year. Moreover, the nation has had a remarkable success in rural electrification and a very strong middle class has emerged in the country, which is supporting this growth.