Meghna

What Meghna does

Meghna Group is a privately held Bangladesh-based manufacturing conglomerate founded in 1974 by Dr. Alhajj Abdul Khalek Bhuiyan and currently led by Chairman Mohammad Mizanur Rahman Bhuiyan. The group operates 25+ factories with 7,000+ employees and generates $380 million+ in annual turnover across a diversified portfolio spanning bicycles, tires and tubes, automotive distribution and assembly, ready-made garments and denim, packaging, melamine tableware, retail, financial services via Prime Bank, and agricultural products. Its core manufacturing operations include the largest bicycle production facility in Bangladesh (800,000+ units annually under Veloce, Prince, Reflex, and Seventy One brands), MTF Tire producing 55 million units of tires/tubes annually, a LEED Gold certified denim facility producing 6 million pieces per year, and the country's largest corrugated carton plant at 12 million boxes monthly serving 800+ garment factories.

The company's business model combines OEM contract manufacturing for international brands (Cube Bikes Germany, WTB tires, European bicycle brands across six countries), exclusive automotive distribution partnerships with BMW (since 2003), KIA (since 1996), and Ford (since 2023), domestic retail distribution through 861 MTF Tire dealers covering 63 districts, and B2B packaging supply to RMG exporters. Meghna runs multiple joint ventures with Taiwan (Alpha Carbon Technology, Alpha Molding, Precision Metal Technology, AlCa Industries) and Turkey (Tam Hangers), representing a deliberate vertical integration strategy spanning carbon fiber frames, precision molds, metal extrusion, aluminum frames, and garment hangers. In 2021, the group entered vehicle assembly through Meghna Car Manufacturing Limited with BDT 90 Crore in funding and Korean machinery from Dynamic Auto Co. Limited. Technology infrastructure emphasizes imported precision machinery (German Troester extruders, Italian Comerio calendar machines, Hyundai/Kia automotive guidance) and sustainability assets including 1,800 kW solar power, effluent treatment plants, and LEED Gold certified denim production.

Name

Meghna

Legal name

Meghna Group

Website

https://meghna.com.bd

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

51–100 employees

Short description

Meghna Group is a Bangladesh-based diversified manufacturing conglomerate producing bicycles, tires, denim, packaging, and automotive components for domestic and international markets across 25+ factories with 7,000+ employees and $380M+ annual turnover.

Ownership category

akta.pro rank

Product category

Diversified Manufacturing Conglomerate

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Bicycle Tires & Tubes Manufacturing (IMANAKAG)

akta.pro secondary industries

Cycling & Bike Retail (Sales, Service & Accessories) (CRAMABAH), Cycling & Micromobility Products Distribution (CRAOAJAF)

Keywords

• Bicycle manufacturing
• Tire and tube production
• Automotive distribution
• Denim manufacturing
• Corrugated packaging

Headquarters

HQ city

Dhaka

HQ country

Bangladesh

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Bicycle Manufacturing & Export: Largest bicycle manufacturer and exporter in Bangladesh with annual production of 800,000+ bicycles. Manufactures frames, components, and complete bicycles for domestic and international markets under brands Veloce, Prince, Reflex, and Seventy One Bicycle.
2. Tire & Tube Manufacturing: Annual production capacity of 55 million units including tires and tubes. Produces 11 million units of rim tape and 1.7 million pairs of brake shoes annually. MTF Tire brand distributes through 861 dealers nationwide.
3. Packaging Manufacturing: Largest corrugated carton manufacturing plant in Bangladesh producing 12 million boxes monthly. Serves 800+ garment factories with automated production capabilities.
4. Ready-Made Garments: LEED Gold certified denim production facility with 6 million denim pieces annually. 16 production lines with monthly washing capacity of 700,000 pieces. Exports to UK, Europe, USA, Japan, India, and Australia.
5. RMG Accessories: Export-oriented garment accessories including poly bags, paper bags, hangers, polyester buttons, gum tapes, and trims/labels. Produces 4.5 million poly bags monthly.
6. Automotive Distribution: Exclusive importer and distributor of KIA Motors (since 1996), BMW (since 2003), and Ford (since 2023). Assembles KIA vehicles locally at Meghna Car Manufacturing Limited.
7. Prime Bank Limited: Financial institution established in 1995. One of the largest private commercial banks in Bangladesh.
8. Melamine Products: Premium melamine tableware under French Collection brand. Produces 5 million units annually using 100% food-grade raw materials.
9. Retail & Distribution: Retail operations including Mohammad & Sons (luxury watches), CycleLife Exclusive (premium bicycles), and Kohler Bangladesh (bathroom fittings).
10. Agriculture & Dairy: Dairy production and cattle breeding including Pakistani Shahiwal, Brahman Cross, Indian Sindhi, and Holstein Friesian breeds. Bull fattening operations for urban beef market.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Meghna Group is a diversified Bangladeshi conglomerate that manufactures bicycles (under Veloce, Prince, Reflex, Seventy One Bicycle brands), tires and tubes (MTF Tire brand), denim garments, and corrugated packaging. It also distributes and assembles vehicles (BMW, KIA, Ford) and operates retail outlets for luxury watches, premium bicycles, and Kohler bathroom fittings. The group manufactures through 25+ factories with $380M+ annual turnover.

Product overview

Meghna Group operates as a diversified conglomerate with a multi-product portfolio spanning multiple industries. The company manufactures bicycles (under Veloce, Prince, Reflex, and Seventy One Bicycle brands) and bicycle components (alloy frames, carbon frames, and various parts) from its Gazipur facilities. Its tire and tube division produces under the MTF Tire brand with 55 million annual production capacity. The automotive division includes Executive Motors (BMW), Meghna Automobiles (KIA), M&U Motors (Ford), and Meghna Car Manufacturing Limited. Retail operations encompass Mohammad & Sons (luxury watches), CycleLife Exclusive (Veloce bicycles), and Kohler Bangladesh. Additional segments include corrugated carton packaging, RMG accessories, RMG manufacturing (Meghna Denims with LEED Gold certification), melamine products (French Collection), financial services (Prime Bank), agriculture, and plastic polymers. The group maintains six joint ventures including Hana System Limited for bicycle assembly, Alpha Carbon Technology for carbon fiber components, and partnerships in metal extrusion, hangers, and packaging.

Differentiator

Problem solved

Functional benefit

Brands

• Veloce Bicycles: Premium bicycle brand launched in 2014, epitomizing elegance and sophistication for cycling enthusiasts
• MTF Tire
• Mohammad and Sons
• CycleLife Exclusive
• French Collection

Products and services

• Veloce Bicycles Premium bicycle brand launched in 2014, featuring elegant and sophisticated design for cycling enthusiasts seeking an unrivaled riding experience. Manufactured by Meghna Group and sold through CycleLife Exclusive stores.
• Prince Bicycles Local market bicycle brand offering reliable transportation bicycles for the Bangladesh market.
• Reflex Bicycles Local market bicycle brand available in the Bangladesh market alongside Prince and Seventy One Bicycle.
• Seventy One Bicycle Local market bicycle brand completing the portfolio of domestic market offerings.
• MTF Tire Distinguished tire brand of Meghna Group producing approximately 4.3 million units of tires and 8.6 million units of tubes annually, serving 63 districts and 460 sub-districts across Bangladesh with 861 dealers. Total annual production capacity of 55 million units including tires, tubes, 11 million rim tape units, and 1.7 million pairs of brake shoes.
• Executive Motors Ltd. (BMW Distribution) Sole importer and service provider of BMW vehicles in Bangladesh since 2003, featuring world-class showroom and award-winning BMW-certified service facility. Received Best Facility in the Region Award from BMW Asia Ltd.
• Meghna Automobiles Ltd. (KIA Distribution) Sole importer and distributor of Kia Motors in Bangladesh since 1996, recognized as the best distributor in the Asia Pacific region by KIA Motors Corporation. Distributes KIA Sportage, Seltos, Cerato, Sonet, and Carens models.
• M&U Motors Ltd. (Ford Distribution) Sole authorized dealer of Ford Motors in Bangladesh since 2023, providing access to a world-class range of Ford vehicles.
• Meghna Car Manufacturing Limited Vehicle manufacturing facility in Sitpara, Bormi Sreepur, Gazipur with 540 decimal land, assembling KIA brand vehicles using Korean machinery from Dynamic Auto Co. Limited with production capacity of 10 units per day.
• Meghna Denims Ltd. LEED Gold certified denim production facility with 16 production lines, 2,800 employees, producing 6 million denim pieces annually with 700,000 pieces washing capacity per month. Exports to UK, Europe, USA, Japan, India, and Australia.
• Corrugated Carton Packaging Largest corrugated carton manufacturing plant in Bangladesh with 12 million units monthly production capacity, serving over 800 garment factories with 3-ply and 5-ply carton boxes. Features fully automated production with computerized control systems.
• Uniglory Packaging Industries Ltd. Export-oriented garments accessories manufacturer producing 4.5 million poly bags monthly, including poly bags, paper bags, hangers, polyester buttons, gum tapes, and trims & labels.
• French Collection Premium melamine tableware brand under Meghna Polypropylene Limited, combining sophisticated design with exceptional quality using 100% food-grade raw materials sourced from renowned suppliers. Annual production of 5 million units across 32 production lines.
• Mohammad & Sons Established in 2018, sole authorized retailer for luxury watch brands including Zenith, Tag Heuer, Montblanc, Frederique Constant Geneve, and Movado in Bangladesh.
• CycleLife Exclusive First premium bicycle store in Bangladesh, exclusive distributor of Veloce bicycles, offering curated collection of exclusive bicycles for enthusiasts and casual riders.
• Kohler Bangladesh Globally renowned luxury bathroom and kitchen equipment brand, pioneering sustainable innovations and bold solutions with the motto 'Gracious Living.'
• Prime Bank Limited Established in 1995, one of the largest private commercial banks in Bangladesh, with Mizanur Rahman Bhuiyan as chairman since 2003-2004. Meghna Group holds a minority stake as a sponsor.
• Meghna Agro and Dairy Products Pioneering dairy establishment since 2015, contributing to increased milk production with diverse cattle breeds including Pakistani Shahiwal, Brahman Cross, Indian Sindhi, and Holstein Friesian. Also includes bull fattening operations for urban beef market.
• Hana System Limited Joint venture with German bicycle brand Cube Bikes for precise bicycle assembly with annual capacity of 200,000 bikes and approximately BDT 100 crore investment. Maintains highest quality standards for premium European bicycles.
• Alpha Carbon Technology Limited Strategic partnership with PMG Taiwan crafting high-quality carbon frames, forks, seatposts, and handlebars for bicycles with capacity of 25,000 frames, 50,000 forks, and 80,000 seatposts, planned to double by 2025.
• Alpha Molding Technology Limited Joint venture with PMG Taiwan dedicated to precision craftsmanship in mold creation for swift market entry of new parts designs and developments.
• Precision Metal Technology Bangladesh Ltd. Joint venture with Taiwan specializing in metal industry with 2000-ton double-action extrusion and 690-ton extrusion press, producing high-quality extruded tubes and profiles with 1300 tons per year capacity. Paid-up capital of USD 10,00,000.
• Tam Hangers Bangladesh Ltd. Joint venture with Turkish company Tam Hangers producing high-quality garment hangers with 8 million units monthly capacity, scaling to 40 million units per month within three years. Equipped with energy-saving molding machines and solar power.
• Shore to Shore Brand Packaging Ltd. Joint venture specializing in premium RMG accessories with an Eco Factory demonstrating sustainable manufacturing practices.

Quantifiable outcome

• 40+ years of industry legacy with sustainable manufacturing at core
• +4 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

16 partnerships are on record, tiered major and core.

• Tam Hangers (Turkey)majorStrategic or Co-development Partner · 1 January 2023Strategic joint venture with Turkish company Tam Hangers for garment hangers. Current capacity of 8 million units per month, scaling to 40 million units per month within three years. Equipped with energy-saving molding machines and solar power.
• Ford MotorscoreChannel Partner/ Reseller/ Distributor · 1 January 2023M&U Motors Ltd. as sole authorized dealer of Ford Motors in Bangladesh since 2023. Redefining driving experience with world-class Ford vehicles.
• PMG TaiwancoreStrategic or Co-development Partner · 1 January 2022Alpha Molding Technology Limited joint venture with PMG Taiwan for precision mold manufacturing. Enables swift market entry for new parts designs and developments.
• PMG TaiwancoreStrategic or Co-development Partner · 1 January 2021Partnership with Taiwanese company for carbon fiber bicycle component manufacturing. Alpha Carbon Technology Limited produces carbon frames, forks, seatposts, and handlebars. Capacity of 25,000 frames, 50,000 forks, and 80,000 seatposts with plans to double by 2025.
• Hyundai Motor Company (South Korea)coreTechnology or Integration · 1 January 2021Meghna Car Manufacturing Limited guided by world-renowned Hyundai Motor Company of South Korea for vehicle assembly technology. Uses 100% imported raw materials from Korea and India.
• Cube Bikes GermanycoreStrategic or Co-development Partner · 1 January 2018Strategic collaboration with German bicycle brand Cube Bikes resulting in Hana System Limited. Investment of approximately BDT 100 crore with annual bicycle assembly capacity of 200,000 bikes. Focus on precision assembly maintaining highest quality standards.
• Taiwan (Republic of China)coreStrategic or Co-development Partner · 1 January 2018Precision Metal Technology Bangladesh Ltd. joint venture specializing in metal extrusion. Features 2000-ton double-action extrusion and 690-ton extrusion press. Annual capacity of 1,300 tons with paid-up capital of USD 10,00,000.
• Luxury Watch Brands (Zenith, Tag Heuer, Montblanc, Frederique Constant Geneve, Movado)majorChannel Partner/ Reseller/ Distributor · 1 January 2018Mohammad and Sons as sole authorized dealer for luxury watch brands including Zenith, Tag Heuer, Montblanc, Frederique Constant Geneve, and Movado in Bangladesh.
• Shore to Shore Brand Packaging Ltd.coreStrategic or Co-development Partner · 1 January 2016Joint venture for premium RMG accessories manufacturing. Features Eco Factory with sustainable manufacturing practices.
• KohlermajorChannel Partner/ Reseller/ Distributor · 1 January 2015Kohler Bangladesh established as globally renowned luxury bathroom and kitchen equipment brand distributor. Pioneering sustainable innovations and bold solutions in bathroom industry.
• BMW Asia Ltd.coreChannel Partner/ Reseller/ Distributor · 1 January 2003Executive Motors Ltd. as sole importer and service provider of BMW vehicles in Bangladesh since 2003. Award-winning service facility with BMW-certified professionals.
• KIA Motors CorporationcoreChannel Partner/ Reseller/ Distributor · 1 January 1996Meghna Automobiles Ltd. as sole importer and distributor of KIA Motors in Bangladesh since 1996. Honored as best distributor in the Asia Pacific region.
• WTB (Wilderness Trail Bikes)majorTechnology or IntegrationInternational production partner for WTB bicycle tires. Meghna Group serves as the production partner manufacturing WTB brand bicycle tires.
• BMWmajorStrategic or Co-development PartnerWorking closely with BMW to deploy EV charging stations all across Bangladesh. Partnership for sustainable automotive infrastructure development.
• Kia MotorscoreTechnology or IntegrationCollaborated with Kia Motors to develop state-of-the-art training center for developing young talent in engineering to enhance future careers in the automobile sector.
• Dynamic Auto Co. Limited (Korea)coreTechnology or IntegrationKorean machinery supplier for Meghna Car Manufacturing Limited factory. State-of-the-art equipment for vehicle assembly operations.

Scale indicators16 records

Recent moves22 records

Expansion highlights6 records

Regional players

• MRF Limited: India-based tire manufacturer with strong presence in South Asian markets. Regional peer to MTF Tire given similar South Asian geographic focus, overlapping two-wheeler and commercial vehicle tire segments, and comparable export-oriented manufacturing in Bangladesh/India region.
• CEAT Limited: India-based tire manufacturer (RPG Group) with presence in South Asian markets including Bangladesh. Regional peer to MTF Tire in two-wheeler, passenger, and commercial tire segments with comparable export ambitions and OEM relationships.

Broad incumbents

• Continental AG: Global automotive and tire manufacturer producing bicycle tires as part of broader portfolio. Comparable as a tire manufacturing peer to Meghna Innova Rubber/MTF Tire, particularly relevant given Meghna's OE tire partnerships with WTB and bicycle manufacturers.
• Bridgestone Corporation: Global tire and rubber products manufacturer with bicycle tire production. Broader incumbent that competes with Meghna's MTF Tire brand in the bicycle and motorcycle tire category across Bangladesh and export markets.
• Specialized Bicycle Components: US-based premium bicycle manufacturer with global brand presence. Broader incumbent operating in the same premium bicycle category as Meghna's Veloce and Cube Bikes OEM products, particularly in road and mountain bike segments.
• Trek Bicycle Corporation: US-based premium bicycle manufacturer and global brand. Broader incumbent that owns manufacturing and retail (company-owned stores) but competes in the same premium bicycle category where Meghna's Cube partnership and Veloce brand are positioned.

Direct peers

• Giant Manufacturing Co., Ltd. World's largest bicycle manufacturer, headquartered in Taiwan with extensive manufacturing operations across Asia. Direct peer to Meghna's bicycle manufacturing division as both own-brand producer (Giant, Liv) and OEM supplier to international brands.
• Merida Industry Co., Ltd. Taiwan-based bicycle manufacturer and OEM partner to European brands. Directly comparable to Meghna as a vertically integrated bicycle manufacturer producing complete bikes, frames, and components for both own-brand and OEM customers across global markets.
• Scott Sports SA: Swiss bicycle and sports equipment manufacturer with Asian OEM manufacturing partnerships. Comparable to Meghna's premium bicycle OEM business serving European brands, particularly in mountain and road bike segments where Meghna's carbon fiber capability (Alpha Carbon Technology) is positioned.
• Ideal Bike Corporation: China-based bicycle manufacturer with extensive OEM manufacturing for European and American bicycle brands. Comparable to Meghna's OEM manufacturing model for Cube Bikes and other European partners, operating at similar scale in Asian low-cost manufacturing.

Market position

Strengths5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MeghnaGroupOfficial
• LinkedInlinkedin.com/company/meghnabd

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries29 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Meghna