The market for our face masks has grown a lot. We have 12 items specifically for the pandemic market
About our business in 2020, we can say it was not bad. We mostly sell essential products. We focused more on products that the people had used to fight the virus.
The market for our face masks has grown a lot. We have 12 items specifically for the pandemic market.
Our portfolio had grown as we sell essential and hygiene products. During this period, we achieved at least 20% growth as we focused on items outside the line of luxury products.
Another good aspect of 2020 was remittance. As it was good, business increased in villages as well. However, the overall economic situation was not good. People did not do much shopping, except for the daily necessities.
We do not think people's behaviour will change much in 2021. A large segment of the countrymen is in financial crisis. The amount of their purchases will not increase much beyond the daily essentials. However, we expect that our sales will grow by more than 20%.
We Bangladeshis are the nation that fights battles and survives. So, people will return to normal activities even if they are not vaccinated. Traders who were on the back foot in 2020 will take a leap in the new year.
Many government projects will be completed this year. Once many infrastructure projects are finished, there will be some investments in the private sector as well.
Apart from essential products, the market for personal vehicles will also grow in 2021. Pran-RFL's bicycle market expanded in Europe amid the pandemic, and this trend will continue next year. The domestic bicycle market will also grow.
Like other times, our business plan will include an expansion policy. The demand for new products is being created due to changed circumstances. With that in mind, we have new investment plans as well.
Our target is to increase employment by at least 10% in 2021. As a result, more than 10,000 new jobs will be added to our existing workforce of 1.05 lakh people.
RN Paul, managing director of Pran-RFL Group.