Jumbangla Desk: Furniture market is growing rapidly in the country as an essential tool of modern life. A large number of brand companies have been built around the tastes and needs of customers. Along with that, the non-brand companies are also doing good business. According to the 2022 report of Bangladesh Investment Development Authority, the domestic market for furniture is about Tk 30 thousand crores. Details from the report by Kal Kantar-
Exports in this sector are also seeing some success, although there are complaints that international markets are not being facilitated due to high tariffs.
Traders say that Autobi once had a monopoly as a furniture brand. Now it has been joined by furniture manufacturing companies like Hatil, Akhtar, Pertex, Navana, Brothers, Nadia, Regal, Legacy, ISO. However, when it comes to the price, there is a mixed response from the buyers.
Many people say that the price of branded furniture is high but the quality is good. But you have to go to the brand stores to get modern and beautiful furniture. Recently, a five-day fair was organized on behalf of Bangladesh Furniture Industry Owners Association at International Convention City Bashundhara in the capital.
Biplab Kumar Dev, a teacher of Notre Dame College who came from Khilgaon at the fair, told Kal Kantha, 'You can trust the brand's products. An image of them has been created. If the products shown here can be bought from non-branded stores, they will be made at half the price. But in the case of buying, it can be seen that I am buying branded products. Why? Because they have better finishing. It can be seen, if you buy non-branded furniture, there is a little deficiency in the finishing.'
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Assistant manager of a private airline. Nazmul Haque said, 'Due to the brand, the price is a little higher. The price here will be higher than the local market. But the quality is good.'
Hatil furniture has occupied the top position in the country's market. Along with that, furniture made by Hatil is being exported to different countries of the world. This Bangladesh born brand has a huge market share in India, Nepal and Bhutan. Hatil Furniture Retail Operations Manager Laila Israt Jahan Rushi told Kal Kantha, 'We ensure good quality in furniture.
Hatil is a brand, there is a matter of quality control. We try to provide the best service to our customers. In addition to wood, we also carry some metal products. We are using Forest Stewardship Council (FSC) certified wood. That is, we are making products without using wood that destroys forestry. And the raw materials we use are imported. As a result, the cost is higher there. Our products are priced based on quality, finish, design and superior customer service.'
Export of furniture
Once furniture was imported from abroad. But the businessmen of Bangladesh have come out of that trend. Now making all kinds of furniture by themselves. Trying to bring modernity in design. As a result, about 2.5 million workers have been associated with this sector, which is half of the garment industry. But compared to that, the export income is not increasing. According to exporters, only 120 million dollars were earned from this sector in the last financial year.
And Bangladesh Investment Development Authority (BIDA) formed a working committee on increasing the problems, opportunities and investment attraction of the furniture sector. According to the report published in 2022 given by that committee, there are about 40,000 small and large furniture manufacturing and selling companies in the country. Of these, 65 percent are non-branded.
Exports of the furniture sector in the financial year 2012-13 were USD 31.41 million. But after 9 years in 2021-22 financial year it increased to 110 million dollars. And in the fiscal year 2023-24, it has increased to about 120 million dollars. Furniture has been exported from Bangladesh to 61 countries in the financial year 2021-22. The highest export earnings came from the United States, accounting for 50 percent of total earnings.
Similarly, 16 percent from Japan, 9 percent from France, 4 percent from India, 3 percent from South Korea, 2 percent from Canada and Saudi Arabia and 9 percent from other countries. The international market is about 700 billion dollars. Compared to that the income is very little but the income is increasing consistently.
