Executive Woodworks envision reshaping Bangladesh’s furniture exports
With furniture exports valued at $110.36m in the past fiscal year, Bangladesh’s 15-20 enterprises have already paved pathways across international borders
In a world fuelled by creativity and innovation, the global furniture market seamlessly intertwines artistry with commerce. A monumental player, the industry boasted a staggering valuation of $516.66 billion in 2022, serving as a nexus of culture, design, and business on a worldwide canvas. Amid the frontrunners in this domain, China has emerged as an indomitable force, disseminating its craft to the far corners of the earth. With a remarkable annual furniture export figure of $86,876.3 million in 2021, China stands as a testament to manufacturing excellence and prowess.
Yet, amidst these giants, a new contender from Bangladesh takes centre stage – Executive Woodworks Limited, a subsidiary of Meghna Executive Holdings (MEH), which was established in 1965.
Meghna Executive has not only carved its niche in the furniture industry but has also diversified its business portfolio to encompass industrial goods manufacturing, light engineering, apparel and textiles, exclusive import and premium dealership of esteemed automobile brands like BMW and KIA, lifestyle products such as Kohler and Penthouse Livings, and authorised resale of cutting-edge electronics and IT products, including Apple.
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In the ever-evolving landscape of the furniture market, Executive Woodworks Limited embarks on a transformative journey that has the potential to reshape the narrative of furniture exports. Along with the Indian and Malaysian technical team, the company envisions a future where innovation and automation seamlessly converge to redefine the sector.
The company is headquartered within an expansive 6,80,000 square feet complex, housing an automated kiln dry unit, state-of-the-art woodworking machinery, dust free environment and robotic finishing lines that usher in a new era of precision and efficiency.
Yet, this story transcends mere statistics and technological advancements; it encapsulates Bangladesh's unwavering determination to etch its presence onto the global furniture stage.
With furniture exports valued at $110.36 million in the past fiscal year, Bangladesh's 15-20 enterprises have already paved pathways across international borders. As Executive Woodworks joins this esteemed group with a vision of 100% exports, it embarks on an audacious objective– to export its meticulously crafted furniture to every corner of the world, with a strategic focus on the Western market, particularly the US.
Inspired by Vietnam
In the year 2021, Vietnam secured the fifth position on the list of the world's leading furniture manufacturers and exporters. It solidified its position as Asia's second-largest furniture exporter, boasting a remarkable export value of $12,959.6 million.
"In 2021, during a business trip to Vietnam, Moklasur Rahman Pinto, the managing director of Meghna Executive Holdings, delved into the intricacies of furniture manufacturing and export. This experience sparked the contemplation of establishing a 100% export-oriented company in Bangladesh," revealed Masud Rana, deputy general manager of MEH.
He further said, "Over 80% of our nation's exports emanate from ready-made garments, rendering the export market somewhat monotonous. We aspire to inject diversity into this landscape through our business. We firmly believe that with augmented government support for this initiative, success is inevitable."
Fuelled by this vision, the journey commenced in 2022. The construction of the manufacturing facility began in Jaina Bazar, Gazipur, marking a significant step forward. The factory's operational capacity encompasses the production and shipment of 5 containers measuring 40ft HC each day to the US. This robust infrastructure caters to the medium-high and high-range furniture market, accompanied by a lofty annual export target of $70 million.
Dedicated to excellence and sustainability
As a 100% Export-Oriented Unit (EOU) factory, Executive Woodworks proudly holds certifications such as ISO 9001:2015, Fair Trade USA, EMS ISO 14000:2015, and UL Greengard certification. The company's commitment to sustainability is evident through the utilisation of FSC-certified timbers and sustainable materials, ranging from hogla, seagrass, water hyacinth, jute, and bamboo to ceramics, bone, and both local and imported timber.
The factory's modern manufacturing landscape stands as an indication to technological advancement.
Automated processes, including a kiln dry unit, sophisticated woodworking machinery, 6-axis CNC machines, automated veneer plants, robotic finishing lines, and a climatically controlled finished goods store, underscore a commitment to precision and quality. Notably, the factory's scope extends beyond modern creations, embracing the revival of traditional local Cane and Rattan Furniture, fostering rural employment and catering to overseas demand.
"Along with design western countries are more concerned with durability and sustainable finishing of products. Along with advanced technology, we have hired designers from different countries around the world," said Mohd Sakib, merchandising manager of Executive Woodworks Limited.
Empowering through employment
An instrumental facet of Executive Woodworks Limited's operations is its commitment to women's empowerment. The factory provides employment opportunities for 30% female workers, accompanied by amenities like daycare and breastfeeding centres, and facilities for sanitary pad usage and disposal.
In a world driven by innovation, Executive Woodworks Limited stands poised to redefine the furniture export landscape, embodying Bangladesh's determination to leave an indelible mark on the global stage. With its blend of craftsmanship, automation, and sustainability, the company envisions a future where every piece of meticulously crafted furniture finds its place in homes around the world.
