Walton Group

{{Short description|Bangladeshi smartphone, Motorcycle, computer, Laptop manufacturer company}}

{{Hatnote|Not to be confused with the American marketing firm The Walton Group Inc.}}

{{Infobox company

| name = Walton Group

| logo = Walton Group.svg

| logo_size = 150px

| image = Walton Group Headquarters.jpg

| image_size =

| image_caption = Walton Group corporate office in Basundhara, Dhaka

| type = Public Limited Company

| traded_as = DSE: [https://www.dsebd.org/displayCompany.php?name=WALTONHIL WALTONHIL]

CSE: {{URL|https://www.cse.com.bd/company/companydetails/WALTONHIL|WALTONHIL}}

| industry = {{unbulleted list

|Telecommunications

|Consumer Electronics

|Information technology

|Smartphones

|Electronics

}}

| founded = {{Start date and age|1977}} commencement of business activities

{{Start date and age|2008}} debuted as Walton Group

| founder = S.M Nazrul Alpha

| location = Kaliakair, Gazipur, Bangladesh

| area_served = Worldwide

| key_people = {{unbulleted list

|S.M Shamsul Alam (Chairman)

|S.M. Ashrful Alam (Vice-Chairman)

|S.M. Mahbubul Alam (Managing Director)

|S.M. Nurul Alam Rezvi (Director)

|S.M. Rezaul Alam (Director)

|S.M Monjurul Alam (Director)

|Raisa Sigma (Director)

|Tahmina Afrose (Director)

|Rifah Tasnia (Director)

|Sabiha J. Orona (Director)

|Nishat Tasnim Shuchi (Director)

}}

| products = {{collapsible list|

}}

| brands = {{collapsible list|

Walton Motors
Walton Mobile
Walton Electronics
Walton Hi-Tech Industries Limited

}}

| services = Electronics manufacturing services

| revenue = {{profit}} {{BDTConvert|81.68|b}}
(FY 2022)

| revenue_year =

| operating_income = {{decrease}} {{BDTConvert|18.7|b}}
(FY 2022)

| net_income = {{profit}} {{BDTConvert|12.17|b}}
(FY 2022)

| net_income_year =

| assets = {{profit}} {{BDTConvert|160.44|b}}
(FY 2022)

| equity = {{profit}} {{BDTConvert|101.38|b}}
(FY 2022)

| num_employees = 21,000+

| homepage = {{URL|waltonbd.com}}
{{URL|https://waltondigitech.com}}

}}

Walton Group ({{langx|bn|ওয়ালটন}}; stylised as WALTON) is a Bangladeshi multinational electronics conglomerate headquartered in Bashundhara Residential Area, Dhaka. It was founded in 1977 by S.M. Nazrul Islam and operates in consumer electronics, home appliances, mobile phones, automobiles, and retail. The group's flagship company is Walton Hi-Tech Industries PLC.{{Cite news |date=2023-02-13 |title=Walton launches affordable e-bike |language=en |work=The Business Standard |url=https://www.tbsnews.net/economy/corporates/walton-launches-affordable-e-bike-584682 |access-date=2023-03-10}}{{Cite news |title=Consumers show great interest in Walton Smart Refrigerators in Ctg Trade Fair |language=en |work=Risingbd.com |url=https://www.risingbd.com/english/country/news/93879 |access-date=2023-03-10}}

With over 30,000 employees, Walton operates more than 1,000 retail stores under the brand name "Walton Plaza" and has an international presence in China, India, and the United States.{{Cite news |date=2023-03-10 |title=Bangladesh-India Friendship Pipeline will contribute to energy security: Nasrul |language=en |work=The Business Standard |url=https://www.tbsnews.net/bangladesh/energy/bangladesh-india-friendship-pipeline-will-contribute-energy-security-nasrul-597314 |access-date=2023-03-10}}{{Cite news |date=2022-04-06 |title=Walton buys 3 European brands to make 4.8m compressors a year |language=en |work=The Business Standard |url=https://www.tbsnews.net/economy/walton-buys-3-italian-brands-make-48m-compressors-year-398746 |access-date=2023-03-10}}

The company has presence in consumer electronics, real estate, and retail sectors.{{Cite news |title=Walton eyes becoming leading global brand |language=en |work=Risingbd.com |url=https://www.risingbd.com/english//news/27397 |access-date=2023-03-10}}{{Cite news |date=2023-02-13 |title=Walton achieves Superbrand award for 2nd consecutive time |language=en |work=Dhaka Tribune |url=https://www.dhakatribune.com/business/2023/02/13/walton-achieves-superbrand-award-for-2nd-consecutive-time |access-date=2023-03-10}}{{Cite news |date=2022-02-25 |title=Walton 1st Bangladeshi company to be featured in Nat Geo's 'Superfactories' Feb 26 |language=en |work=The Daily Star |url=https://www.thedailystar.net/business/news/walton-1st-bangladeshi-company-be-featured-nat-geos-superfactories-feb-26-2970526 |access-date=2023-03-10}}{{Cite news |date=2022-10-23 |title=ATPF delegation visits Walton headquarter; overwhelmed by Bangladesh's progress in electronics industry |language=en |work=The Business Standard |url=https://www.tbsnews.net/economy/corporates/atpf-delegation-visits-walton-headquarter-overwhelmed-bangladeshs-progress |access-date=2023-03-10}} In 2019, it was ranked as the second-largest corporate donor in Bangladesh by the CSR Centre and Sustainability Excellence.{{Cite web |title=Awards |url=https://waltonbd.com/awards |access-date=2023-03-10 |website=waltonbd.com |language=en}} Walton is the largest tech company in Bangladesh by market cap.

History

Walton was founded by S.M Nazrul Islam. Nazrul started his career as a small businessman. After the Bangladesh Liberation War of 1971, he started a separate business. In 1977, he founded a new company named after his eldest son S.M Nurul Alam Rezvi called Rezvi & Brothers, abbreviated as R.B. Group.{{Citation|script-title=bn:'ওয়ালটন ' এক যুগেই দেশের শীর্ষ কোম্পানি|url=https://www.youtube.com/watch?v=9wvlhFbPyJI|publisher=Prothom Alo|language=bn|access-date=2021-11-11 | date=11 November 2021 }} At that time, they used to import televisions. The company made its debut in 2008 as the Walton Group by starting refrigerator manufacture. When S.M Nazrul Islam died in 2017, his eldest son S.M Nurul Alam Rezvi took over as the chairman of the company.{{Cite news |last=Hussain |first=Shaukat |script-title=bn:এক যুগেই দেশের শীর্ষ কোম্পানি|url=https://www.prothomalo.com/business/উদ্যোক্তা/এক-যুগেই-দেশের-শীর্ষ-কোম্পানি|access-date=2021-11-11|work=Prothom Alo|language=bn}}

In April 2017, Walton established the country's first compressor manufacturing factory.{{Cite news |date=2017-04-07 |title=Walton sets up first-ever compressor manufacturing plant |url=https://archive.dhakatribune.com/business/2017/04/07/walton-sets-first-ever-compressor-manufacturing-plant |access-date=2022-06-05 |work=Dhaka Tribune}}

In January 2018, Walton opened a computer assembly plant. At the same time it began exporting laptops to Nigeria.{{Cite news |title=Walton starts export of its locally made laptop |url=https://www.risingbd.com/english/business/news/52561 |access-date=2022-06-05 |work=Risingbd.com |language=en}}

The company expanded into TV export market to around 14 countries in Europe, including Germany, Denmark, Ireland, Poland, Greece, Spain, Croatia, Italy and Romania.{{Cite web |date=2023-11-04 |title=Walton boosts TV exports to Denmark, Ireland |url=https://www.tbsnews.net/economy/corporates/walton-boosts-tv-exports-denmark-ireland-733078 |access-date=2024-04-18 |website=The Business Standard |language=en}}

In February 2020, Walton started exporting handsets to the United States as a Bangladeshi original equipment manufacturer company to an American brand, otherwise known as "contract manufacturing".{{Cite news |date=2020-02-18 |title=In a first, Walton to start exporting handsets to USA |url=https://www.thedailystar.net/business/news/first-walton-start-exporting-handsets-usa-1869784 |access-date=2022-06-05 |work=The Daily Star |language=en}}

In April 2022, Walton acquired 3 European brands to make 4.8 million compressors a year. Walton Hi-Tech Industries PLC announced the purchase of two more brands – Zanussi Elettromeccanica (ZEM) and Verdichter (VOE) – from Italia Wanbao-ACC. It acquired the rights of three European electronics brands and its production plant, a trademark, patent, design and software.{{Cite news |date=2022-04-07 |title=Walton expands its global footprint by acquiring three European brands |url=https://www.dhakatribune.com/business/2022/04/07/walton-expands-its-global-footprint-by-acquiring-three-european-brands |access-date=2022-06-05 |work=Dhaka Tribune |language=en}}

In June 2022, Walton announced the establishment of a Research and Innovation Centre in South Korea.{{Cite news |date=2022-06-04 |title=Walton sets up research centre in South Korea |url=https://www.dhakatribune.com/business/2022/06/04/walton-sets-up-research-centre-in-south-korea |access-date=2022-06-05 |work=Dhaka Tribune |language=en}}

Acquisitions

In April 2022, Walton bought 3 European brands aimed at producing 4.8 million compressors a year.{{Cite news |date=2022-04-06 |title=Walton buys 3 European brands to make 4.8m compressors a year |url=https://www.tbsnews.net/economy/walton-buys-3-italian-brands-make-48m-compressors-year-398746 |access-date=2022-06-05 |work=The Business Standard |language=en}}

Manufacturing and production

In April 2017, Walton established a compressor manufacturing factory.{{Cite news |date=2020-07-28 |title=Walton Compressor: Country's first and only compressor manufacturing factory |url=https://www.tbsnews.net/companies/walton-compressor-countrys-first-and-only-compressor-manufacturing-factory-112816 |access-date=2022-06-05 |work=The Business Standard |language=en}}
In April 2017, Walton inaugurated a smartphone manufacturing factory in Bangladesh.{{Cite news |date=2017-10-05 |title=Walton inaugurates country's first smartphone factory |url=https://www.banglanews24.com/english/national/news/bd/64082.details |access-date=2022-06-05 |work=banglanews24.com |language=bn}}
In January, 2018, Walton opened its first computer and laptop assembly plant in Bangladesh.{{Cite news |date=2018-01-17 |title=Walton to open first ever computer assembly plant on Thursday |url=https://archive.dhakatribune.com/bangladesh/2018/01/17/walton-open-first-ever-computer-assembly-plant-thursday |access-date=2022-06-05 |work=Dhaka Tribune}}
In April 2020, Walton announced plans to produce ventilators.{{Cite news |date=2020-04-28 |title=Walton ventilators ready for clinical trials |url=https://tbsnews.net/coronavirus-chronicle/covid-19-bangladesh/waltons-ventilators-begin-clinical-trials-today-74809 |access-date=2020-08-25 |work=The Business Standard |language=en}}

Controversies

In April 2024, Walton was accused of promoting LGBTQ+ rights after sponsoring a drama show called Rupantor. In response, on 16 April, the company apologized and released a statement saying they were unaware of the content of the show, and sent a legal notice to the agency 'Local Bus Entertainment' for airing the show, stating it was a breach of contract.{{Cite web |date=2024-04-16 |title=Walton serves legal notice to studio, cancels contract for 'Rupantor' |url=https://www.tbsnews.net/bangladesh/walton-serves-legal-notice-studio-cancels-contract-rupantor-829546 |url-status=live |archive-url=https://archive.today/20240416202906/https://www.somoynews.tv/news/2024-04-16/YtHBHK7C |archive-date=2024-04-16 |access-date=2024-04-16 |website=The Business Standard}}{{Cite news |date=2024-04-16 |script-title=bn:‘রূপান্তর’ নাটকের সমালোচনা নিয়ে যা বললেন অভিনেতা-নির্মাতা |trans-title=What the actor-producer said about the criticism of the drama 'Rupantar' |url=https://www.somoynews.tv/news/2024-04-16/OsQE5vs3 |access-date=2024-04-16 |work=Somoy News |language=bn}}{{Cite web |date=2024-04-16 |title='রূপান্তর' নাটকের সমালোচনা নিয়ে যা বললেন অভিনেতা-নির্মাতা |url=https://www.somoynews.tv/news/2024-04-16/OsQE5vs3 |access-date=2024-05-05 |website=Somoynews}}

Subsidiaries

The conglomerate comprises one public traded and over ten privately held companies.

Walton Hi-Tech Industries PLC. (public){{cite web |url=https://www.https://www.waltonhil.com// |title=Home |website=Walton Hi-Tech Industries PLC.}}
Walton Digi-Tech Industries Ltd.{{cite web |title=Home |url=https://waltondigitech.com/|website=Walton Digi-Tech Industries Limited}}
Walton Plaza {{cite web |title=Home |url=https://waltonplaza.com.bd/|website=Walton Plaza}}
RB Group of Companies Limited
Walton Corporation Limited
Walton Micro-Tech Corporation
Dream Park International
Walton Shipping & Logistics
Walton Chemical Industries
Skyroute Media Ltd.
Walton Agro Farm & Industries
Walton Motor Industries Ltd.