Dhaka, Bangladesh (BBN)- Jyothy Laboratories Ltd, an Indian fast-moving consumer goods company, is set to open its first subsidiary in Bangladesh in April this year.
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, a local newspaper, while adding that the total investment has so far been BDT 750 million.
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 noted.
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.
BBN/SSR/AD-20Jan13-12:39 pm (BST)
