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25 February, 2018 00:00 00 AM

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FranGlobal eyes to bring $39m investment in 2 yrs

Singapore-based franchise consultancy firm hosts ‘Franchise Bangladesh’
UNB

FranGlobal yesterday hosted Franchise Bangladesh, the first-ever international franchise and retail expo, in the capital eying $39 million investment in the country, reports UNB.

The Singapore-based franchise consultancy firm has formally set its footprint in Bangladesh with the daylong event where over 100 international and local brands took part as exhibitors.

Gaurav Marya, Chairman of FranGlobal, said as per PwC, Bangladesh is poised to be among top three fastest growing economies of the world by 2030. "The country is home to thousands of businesses and has emerged as one of the largest concentrations of multinational companies in South Asia."

"We seek to bring over 50 brands to Bangladesh in the next two years while creating investment of USD 39 million and it is expected to create 2,500 new jobs in the Bangladesh market," he added.

Gaurav Marya said franchising and licensing can help the local business establish brands.

At the programme sponsored by Monno Home, Selima Ahmad, president of Bangladesh Women Chamber of Commerce and Industry (BWCCI), Mirza Nurul Ghani Shovon, president of South Asian Countries SME Forum, M Shafiul Islam Mohiuddin, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and Rasheed Mymunul Islam, deputy managing director of Monno Home, spoke among others.

The FBCCI president said FranGlobal is to breeze those who want to start business with the big brands who are already established in the global market.

This event witnessed the participation of prominent brands from the USA, the UK, Italy, South Africa, Australia, Malaysia, Thailand and India showcasing their franchise opportunities along with the knowledge sharing sessions by a number of local and international experts from F&B, Retail, E-commerce and education section.

Among the exhibitors, Arunabh Sinha, founder of UClean, an Indian chain of laundry and home cleaning stores, said the company is very keenly looking at entering the market of Bangladesh as the behaviour and consumption pattern of people here is similar to India.

Ahmed Shuza, Commercial Manager of GQ Group of Companies, one of the participants of the event who came to explore the business opportunities through meeting the exhibitors, told the news agency that more good brands need to be introduced through such event as not all of the brands which have attended this time are very recognised worldwide.

However, hoping to have more brands in the upcoming events, Gaurav Marya said the organiser is planning to host four events every year.

He also conducted a master class discussing on best ways to expand business through franchising and partnering with global brands during the expo event.

 

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Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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