Monno Group is also planning a joint venture and profit sharing to increase their production capacity almost double by next year.
Rasheed Mymunul Islam, deputy managing director of Monno Group of Industries said, “After changing hands, the prices for our products go up. But if we could maintain our own network, then people would know our products are not as expensive as they are now.”
Mymunul Islam who is also a director of Bangladesh Ceramics Manufacturers and Exporters Association said, Bangladesh is a Tk 3 billion market for ceramic products and continues to grow. Monno dominates the market with 40 percent market share.
He added, “We have eight ceramics companies in the country, but we cannot meet the local demand. The demand is growing every day, now we produce 1.5 million pieces both porcelain and bone china products a year. I hope by March next year it will be 2.5 million pieces.”
Adding to this, he also said,” Pricing is a big challenge that drives them to enter retail market but the problem is we found this price varies from one place to another. The same product costs different prices in Gulshan, Mirpur or Dhanmondi markets. There is also difference between Dhaka and outside markets. The retailers keep the price based on the customers’ capacity since there is no fixed MRP. We want to ensure fair price in this system."
He added, “We sell our products wholesale to dealers. Then dealers sell those to retailers after keeping a margin. And again retailers sell those to the customers keeping their own profit, after franchising, we’ll fix MRP and they [franchisees] will get commission. Pricing will be uniform and people will know it’s not as expensive as it is now.”
Monno Group is ready for joint venture and profit sharing and they are also planning to increase their production capacity almost double by next year.