Jyothy Laboratories, Kallol Group invest Tk 7.5cr
Jyothy Laboratories Ltd, an Indian fast-moving consumer goods company, is set to open its first subsidiary in Bangladesh in April.
The company has set up a factory in Tongi, in a joint venture with Bangladesh’s Kallol Enterprises, to manufacture detergents and cloth whitening liquids.
The subsidiary is named Jyothy Kallol Bangladesh Ltd, Ghulam Mostafa, managing director of Kallol Group of Companies, told The Daily Star, while adding that the total investment has so far been Tk 7.5 crore.
The Mumbai-based company holds a 75 percent stake in the subsidiary, while the remaining by Kallol Enterprises.
Bangladesh has witnessed huge demand in washing powders and cloth whitening liquids in the last several years, due to the fast growing middle-income group.
“People in urban areas no longer want to wash clothes the traditional way — they now use detergents and whitening liquids. We want to cater to this segment,” Mostafa said.
The new factory will initially manufacture Jyothy Labs’ popular brands — Ujala Washing Powder and Ujala Blue liquid — for the domestic market.
Kallol Group has been the sole importer and distributor of Jyothy Labs’ products in Bangladesh over the last 14 years.
Jyothy Labs also plans to roll out the recently-acquired brands of Henkel, a manufacturer of laundry and homecare products and toiletries.
Jyothy Labs currently exports to the neighbouring countries, Middle-East and Malaysia, which contributes to around 3 percent of its turnover.
Kallol Group, which started its journey in 1972, has its own manufacturing units for detergent powders and washing soaps.
It also represents upwards of 300 FMCG products and 18 international watch and writing instruments’ brands and has an annual turnover of $50 million, according to the company’s website.
-With The Daily Star input
