The SINGER saga began in 1851, when Sir Isaac Merritt Singer with US$ 40 in borrowed capital began to manufacture and sell a machine to automate and assist in themaking of clothing. This revolutionary product was the first offering from the newly formed I.M. Singer & Company, which hasnow evolved into the world leader in manufacturing and distribution of sewing related products. The SINGER brand name is now famous around the globe.
In 1876, SINGER became the first multinational industrial company as it began manufacturing sewing machines in Glasgow, Scotland. By 1880, world sales had reached 250,000 units. Additional factories were established in New Jersey, and one of the best-known emblems- the RED S Girl Trademark-was developed.
The first electric machine was introduced in 1889 and by the turn of the century annual sales had reached US$1.35 million. A separate subsidiary, the singer Sewing Machine Company, was established to handle sales and distribution in the western hemisphere.
In 1908, The singer Building at 149 Broadway in New York was opened and became the headquarter of Singer for the next 54 years. It was the tallest building and the first skyscraper in the world at that time.
Capitalizing on its famous brand name,its hire-purchase plan and its vast network of retail outlets and other distribution points around the world, Singer introduced electronics, home appliances, and other consumer durables especially in the Asia Pacific Rim, Latin America and the Caribbean. Today Singer is a household name through out the world for a wide range of products for the home.
SINGER BANGLADESH HISTORY
The presence of SINGER in Bangladesh dates back to the British colonial era when the country was a part of the Indian sub continent. The first operation of Singer began in 1905. Later, in 1920, two shops were set up in Dhaka and Chittagong.
After the partition of the sub-continent in 1947, two separate states emerged. Bangladesh became a part of Pakistan and formed its eastern wing. SINGER in East Pakistan operated as a branch of SINGER Pakistan and the products used to come from Western Pakistan. At the initial stage, marketing operation was carried out through only 10 shops, which increased to 43 by the late 1960s.
After the emergence of Bangladesh on December 16, 1971, the East Pakistan Branch Office was elevated to a country Office and the Sewing Machines were made available from different Snger overseas sources. The number of shops was squeezed to only 23 because of low volume of busines.
A change in the investment policy in 1979 created new business opportunities and SINGER registered as an operating company, with 80% of the share held by SINGER Sewing Machine Company (SSMC), USA, and 20% by local shareholders.
In 1983 the company was listed with Dhaka Stock Exchange (DSE) and offered 20% of its total capitalization- 2,565 ordinary shares of Taka 100 each. In 2001, it was also listed with the Chittagong Stock Exchange (CSE).