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Hatil, Bangladesh’s largest furniture brand, hosted a ‘Dealers Conference’ in Dhaka on December 3.
With more than seventy showrooms across the country, the company is successfully catering to the contemporary furniture needs of the customers and expanding its business beyond the borders of the country, reads a press release.
Most recently, Hatil’s 28th showroom was opened in India and is the only Bangladeshi brand that has the highest number of outlets under its name on foreign soil.
The event was attended by Tipu Munshi, Minister of Commerce as the chief guest.
Selim H Rahman, chairman and managing director of Hatil Complex Limited attended as the chair.
The directors, Mahfuzur Rahman, Mizanur Rahman, Moshiur Rahman, and Shafiqur Rahman were also present.
More than 100 participants from all over the country attended the event.
The participants discussed the overall business situation in Bangladesh in light of the current economic crisis.
Future action plans based on current and future socio-economic contexts were also discussed.
Salim H Rahman said: “Despite the corona pandemic, the furniture industry in the nation has turned around. This is the result of the government’s kind sincerity, the entrepreneurs’ commitment, and the backing of the nation’s consumers. My best wishes go out to everyone who is continually working in this potential field despite the negative atmosphere.”
“A little of the huge potential of this country’s industry has been implemented in the world market so far. The size of the global furniture market in 2021 was about $650 billion dollars and in 2022 this market size is estimated to be about $700 billion dollars. If you look at the trend of furniture consumption in the world in the last few years, it can be understood that this market is getting bigger every year. In the financial year 2021-2022, our furniture exports amounted to $110 million. Although it is 39% more than the previous year, still the pace of development of this highly potential sector is still slow in our country.”
“Because most of the raw materials used in our furniture industry such as Hardware, Lacquer and Fabrics have to be imported from outside the country due to no backward linkage industry. A large amount of import duty is applicable when importing from outside the country. That is why we are facing unequal competition from China and Vietnam in the international market. Competitive price plays a crucial role in sustaining and augmenting market share. If our furniture sector is allowed to avail of the bond facility, the import duty on the raw materials is reduced, the logistic cost can be minimised, and the furniture export incentive can be increased from 15% to 25%, this sector can be competitive with that of China, Vietnam, and other furniture manufacturing countries. However, despite such limitations, we have been providing furniture at a competitive price in the international market since 2013. People have started showing interest in our products because of Hatil’s quality and finishing. With the positive response from the market, we are expanding our showrooms also. Furthermore, to create new markets, we have been attending various International Furniture Fairs in Bangladesh, Dubai, India & Thailand. The production capacity that we have is enough to maintain the demand of the local and international markets, maintaining the best quality. We hope our Honorable Commerce Minister will kindly take these matters into consideration and take appropriate measures to bring this industry to a strong position in the global market.” said Selim H Rahman.
Moshiur Rahman said: “The recent conflict between Ukraine and Russia and the coronavirus outbreak have severely shaken the global economy, which is having an impact on the furniture business as well. Additionally, we are compelled to raise furniture prices, which is hurting both the domestic and global markets. We should be more business-oriented in such a situation, assure proper leadership, maintain product supply, and, most importantly, guarantee customer happiness.”
The company currently runs more than 70 showrooms in Bangladesh and has locations in different Indian states, including Punjab, Haryana, Jammu and Kashmir, Chandigarh, West Bengal, Manipur, and Mizoram.
The capital of Bhutan, Thimphu, also has two showrooms. Additionally, Hatil exports its goods to Saudi Arabia, the United Arab Emirates, Canada, Australia, the Middle East, and Europe.
(DT)
