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.[3][4]
The company has presence in consumer electronics, real estate, and retail sectors.[5][6][7][8] In 2019, it was ranked as the second-largest corporate donor in Bangladesh by the CSR Centre and Sustainability Excellence.[9]
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.[10] 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.[11]
In April 2017, Walton established the country's first compressor manufacturing factory.[12]
In January 2018, Walton opened a computer assembly plant. At the same time it began exporting laptops to Nigeria.[13]
The company expanded into TV export market to around 14 countries in Europe, including Germany, Denmark, Ireland, Poland, Greece, Spain, Croatia, Italy and Romania.[14]
In February 2020, Walton started exporting handsets to the United States as a Bangladeshi original equipment manufacturer company to a American brand, otherwise known as "contract manufacturing".[15]
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.[16]
In June 2022, Walton announced the establishment of a Research and Innovation Centre in South Korea.[17]
Acquisitions
In April 2022, Walton bought 3 European brands aimed at producing 4.8 million compressors a year.[18]
Manufacturing and production
In April 2017, Walton established a compressor manufacturing factory.[19]
In April 2017, Walton inaugurated a smartphone manufacturing factory in Bangladesh.[20]
In January, 2018, Walton opened its first computer and laptop assembly plant in Bangladesh.[21]
In April 2020, Walton announced plans to produce ventilators.[22]
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.[23][24][25]
