Keya Cosmetics Ltd, one of the most reputed domestic companies in the cosmetics and toiletries industry in Bangladesh, has moved up from its fragile position in the market for their new Director M Miraz Hossain.
Although it ran the business quite well from 2000-2009, the company began to lag behind other consumer goods manufacturers in terms of market share and popularity, reads a press release.
Keya Cosmetics shares have upgraded from Z category to B category. It has around 400 distributors across the country at the moment which was only 250 in 2017.
Until 2016, the company had the poorest local sales ever in its history for various lacking and errors.
To save the company the chairman, Abdul Khaleque Pathan, appointed M Miraz Hossain, the managing director of MP Sweaters Ltd, as a director.
Miraz began to rectify the weakest points of the company and the scenario began to change.
He has brought a positive change in the company’s existing distribution system, supply chain management, human resource practice, marketing strategy, and management styles.
He set the vision to retrieve the position of Keya and expand furthermore.
M Miraz Hossain proved himself as a successful leader like before by continually achieving company goals. Overcoming the weaknesses of the past, Keya Cosmetics Ltd is now continuing its business in full swing.
Keeping pace with the era, the company has associated with super shops and e-commerce platforms like Shwapno, Agora, and Lavender, etc.
The company may have lost its former position due to some competition, lack of feasibility, lack of diversification in the product portfolio, and irregularities in the supply chain.
M Miraz Hossain addressed those issues and applied a new policy and strategy that make the company stronger to compete with competitors.
Source: The Business Standard