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Singer launches two European brands

Star Business Report
Singer Bangladesh, a multi-brand retailer, yesterday launched two European home appliances and electronics brands - Beko and Grundig --for growing upscale customers.
Beko products include refrigerators, washing machines, dishwashers and microwave ovens, while Grundig brought in LED TV, sound systems and some othersmall household appliances.
"The market for smarter, more functional, technologically advanced and environment friendly home appliances is gradually increasing in the country,” said AM Hamim Rahmatullah, managing director of Singer Bangladesh and regional vice president of Singer Asia.
Customers will now be able to buy modern and eco-friendly home appli-
ances and electronics, he said at a press conference at Sonargaon Hotel in Dhaka yesterday.
Customers can also buy the products of the brands, both owned by Turkey-based Ar<;elik Group, through easy instalments, Rahmatullah said.
Bangladesh, being a rapidly growing white goods market in Asia, holds a very crucial position in the company’s growth strategy, said Gurhan Gunal, project manager for international sales ofAr<;elikAS.
"The launch of Beko and Grundig in Bangladesh will fortify our position in Asia considering the great potential of the region," Gunal said, adding that his company aims to achieve a considerable market share in the first three years and become the major brands in Bangladesh in the long-term.
The four-door refrigerators of Beko are especially well matched with the needs of the Bangladeshi market with their superior technological features, Gunal said.
The washing machines will consume 50 percent less power than other appliances of this kind, while the ovens use 30 percent less energy than any other competitor products, he added.
In 2013, Beko became the number one home appliance brand in the UK, Lithuania and Poland, while it is the second best brand in Belgium, France and Latvia, according to Gunal.
Ar^elik Group is attaching importance to Asian markets due to its huge growth potential, said Gavin Walker, president of Singer Asia, adding that Ar<;elik has already started selling home appliances and consumer electronics in Sri Lanka, partnering with Singer. The products will be sold in Bangladesh exclusively through 371 Singer Mega and Singer Plus outlets and 200 Singer Pro dealer shops.
Singer will open two exclusive outlets in Bangladesh this year for selling Beko products. Walker said.
Beko fridges will sell atTk 1.45 lakh to Tk
2.10 lakh, while microwave ovens at Tk 40,000 to Tk 90,000.
A Grundig branded 32-inch LED TV will cost Tk 44,000 and the 55-inch one Tk 260,000. Singer Bangladesh's revenues stood at Tk 660 crore in 2013, down 1.47 percent year-on-year.
Huseyin Miiftuoglu, Turkish ambassador to Bangladesh, also attended the event.