The company wants to hold 10 percent market stake of branded small home appliances
Transcom Electronics Limited has started selling small home appliances of famous American brand Black and Decker in the local market.
The sale of Black and Decker products was inaugurated at the Gulshan outlet of Transcom Electronics yesterday.
Radhesh Verma, South Asian regional managing director of Black and Decker, said, "The demand for home appliances is on the rise in Bangladesh. We want to utilise this opportunity."
Arshad Huq, managing director and chief executive officer of Transcom Electronics, said Black and Decker is among the global leaders for industrial tools and small home appliance.
"We have made an agreement with the company to become an authorised dealer for Black and Decker home appliances."
The list of products
Transcom will sell small home appliances from Black and Decker in the local market. It will bring in products directly from factories of the company.
The products include dry iron, grinder, vacuum cleaner, electric cooker and sandwich maker.
Yeamin Sharif Chowdhury, director (operation) of Transcom Electronics, said other businessmen also import Black and Decker products, but in a limited scale.
"Buyers cannot become sure whether the products are original or not," he said. "However, Transcom will guarantee the products as an authorised dealer of the company."
He further said that Transcom initially will sell the Black and Decker products through its 65 outlets across the country.
"We give at least two years' warranty for Black and Decker products," he said, adding Transcom will supply parts and ensure services after the warranty period.
Small home appliance market
Local companies mainly dominate the country's small home appliance market. Walton is the market leader and products imported from China also have a big stake.
Phillips leads the international brands in the small home appliances market.
Yeamin said the total market size of small home appliances is around Tk1,500 crore, of which, international brands hold a stake of Tk250 crore.
"We want to take a 10 percent share of the branded small home appliances market," he added.
Stanley Black and Decker
Stanley Black and Decker has been doing business for 177 years.
It has business in around 100 countries. The company earned $13.98 billion in 2018. Its revenue was $12.96 billion in 2017.