M. H. M. Fairoz is the Managing Director and CEO of Singer Bangladesh Limited, a role he has held since 2016. He began at the Richard Pieris Group in Sri Lanka, later joining Singer (Sri Lanka) in 2001, where he led significant growth in various positions. He also serves as a Director at International Appliances Limited and holds leadership roles in several business chambers and federations. Fairoz possesses a Postgraduate Diploma in Marketing from The Chartered Institute of Marketing, UK, and an Accountancy qualification from Certified Management Accountants, Australia, complemented by advanced management programs from prestigious institutions.
Recently, he attended Bangladesh Retail Congress 2024 as an esteemed keynote speaker. During the summit, he shared his insights with Bangladesh Brand Forum on embracing technology and sustainability for a transformative future.
BBF: As the CEO of Singer Bangladesh, how have you integrated technology into your business model to address changing consumer preferences and market demands?
M. H. M. Fairoz: The consumer landscape is changing globally due to many reasons. We have observed the results of companies that have succeeded and those that have fallen behind. At Singer Bangladesh, as a pioneer in the industry, we have identified these global changes in technology and consumer behaviour. To address these changes, the company has taken several initiatives to transform itself.
We are actively integrating AI in various aspects of our operations. For instance, in communication, AI is being used to create content, while data analytics and AI are used for demand forecasting. This enables us to manage raw materials, production, and inventory more efficiently. By optimising stock levels and improving the reorder process, we can enhance efficiency and remain aligned with global trends. Technology is also being utilised in our omnichannel strategy to provide a seamless experience across multiple customer touchpoints, ensuring that we meet evolving consumer expectations.
Given your extensive leadership experience in both Sri Lanka and Bangladesh, what key strategies have you implemented to promote growth in emerging markets?
Singer Bangladesh has been doing business in Bangladesh for over 100 years, and our ability to adapt to changes in consumer behavior and business models has been key to our longevity. My leadership experiences in Sri Lanka and Bangladesh have taught me that understanding local market dynamics is crucial.
To promote growth, we’ve focused on innovation, technology, and consumer-centric strategies. For example, we have enhanced our retail formats to improve customer experiences—from store ambiance to after-sales services. We’ve also embraced omnichannel approaches to connect with customers more effectively. Leveraging the value chain capabilities of our parent company, we’ve enhanced research, design, and marketing efforts to introduce tailored solutions for the Bangladeshi market.
How has your background in marketing and management influenced your approach to driving innovation and customer satisfaction at Singer Bangladesh?
My background in marketing and management has significantly influenced the way I approach innovation and customer satisfaction. I firmly believe that understanding the customer journey is critical. At Singer Bangladesh, we are focused on creating a seamless omnichannel experience for our customers, connecting with them at every stage of their journey.
Innovation is at the core of what we do. We are using AI not just in communication but also in backend operations, such as supply chain optimisation. Additionally, we’ve revamped our retail formats, prioritising customer experience, and invested in sustainability initiatives that resonate with modern consumers, particularly millennials and Gen Z. These efforts stem from my belief that businesses must align with both customer preferences and global trends to thrive.
With your involvement in various business chambers and federations, what collaborative efforts do you believe are essential for Bangladesh’s retail industry to thrive in this transformative era?
Collaboration is key to driving the retail industry forward, especially in this era of rapid transformation. Through my involvement in various business chambers and federations, I advocate for partnerships that promote innovation, sustainability, and technology adoption. For instance, we need to work collectively to build robust supply chains, enhance digital infrastructure, and create policies that foster sustainable practices.
Singer Bangladesh is leading by example by adopting global best practices and sharing insights from our extensive experience in the industry. We believe in fostering a culture of collaboration within the industry to address common challenges and seize emerging opportunities.
As sustainability becomes a central focus for businesses worldwide, what eco-friendly initiatives have you prioritised at Singer Bangladesh to align with global retail trends?
Sustainability is not just a trend; it’s a necessity. At Singer Bangladesh, we have taken significant steps to align with global retail trends. Our new manufacturing facility is a gold LEED-certified factory, emphasising reduced carbon footprints and eco-friendly products such as air conditioners and washing machines.
We are also leveraging the global expertise of our parent company in R&D to develop innovative, eco-friendly solutions. Additionally, sustainability is embedded in our operations, from manufacturing to customer interactions. Consumers today, especially younger generations, expect businesses to prioritise sustainability. We are committed to meeting these expectations while maintaining operational efficiency and profitability.
