Bashundhara enters toiletries business
Bashundhara Group, one of the conglomerates in Bangladesh, will start offering toiletries and personal care products in order to have a share of the growing market for the consumer goods.
Bashundhara Toiletries Limited (BTL), a new concern, is expected to launch over a dozen products today.
"Our toiletries line has been planned to cater to the everyday needs of the people," said Safwan Sobhan Tasvir, vice chairman of Bashundhara Group.
According to him, the BTL will market a range of products, including detergent powder, toilet cleaner, dishwashing liquid and bar, air freshener and toothpaste.
Tasvir said they have already invested Tk 50 crore to set up the production line of home, personal, hair and oral care products creating employment for around 5,000 people.
The company has already invested Tk 50 crore and has a plan to splurge Tk 1,000 crore in the next five years
He also said they have a plan to invest Tk 1,000 crore in phases over the next five years.
According to a paper of the Federation of Bangladesh Chambers of Commerce and Industry in March, the market size of fast-moving consumer goods in the country is $3.6 billion with an annual growth rate of 9 per cent.
And there is a lot of headroom in the sector as per capita consumption remains lower than comparable markets: Bangladeshis only spend $23 per capita on FMCG while in India it is $44 and more than $100 in China and Indonesia, according to a senior executive of a multinational company.
The beauty and personal care industry in Bangladesh is growing steadily with greater availability of disposable income, rapid urbanisation and changing lifestyles. The industry includes products such as skin, hair and oral care, bath and shower products.
Multinational companies such as Unilever and Marico hold a lion's share of the market while local companies such as Square Toiletries and Kohinoor Chemical operate in the fast-moving consumer goods market.
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