A Sri Lankan story: Abans Group’s journey from corner store to corporate giant

Saturday, 9 November 2019 02:28 - - {{hitsCtrl.values.hits}}

Since 1968, Abans’ sphere of influence has steadily grown, extending to every corner of Sri Lanka. Its presence within key industries, including retail, commercial real estate, manufacturing, logistics, environmental management, finance and so forth, has had a transformative impact on the Sri Lankan economy as a whole. The conglomerate enables Sri Lankans to fulfill their dreams for a better enhanced life.

The conception of Abans represents the translation of powerful insight into a business opportunity. It all started when a young Sri Lankan homemaker and mother of three received a singular spark of inspiration as she conducted her household chores one day 50 years ago.

In the 1960s, Sri Lanka was a closed economy and imports were banned. In this environment, Aban Pestonjee noted how difficult it was to complete household chores through manual labour, and chanced upon the business opportunity to resell secondhand home appliances sourced through embassy auctions. She opened a modest corner store in Bambalapitiya and offered after-sales services in her garage, which enhanced her popularity with Colombo customers.

Then when the economy opened in the late 1970s, Pestonjee began writing letters to renowned British brands requesting distributor rights for Sri Lanka. After repeated attempts, Electrolux finally became the first brand to join hands with Abans and other British brands followed including Hoover, Belling and Russell Hobbs.

With the help of her children Saroshi, Tito, and Rusi Pestonjee, she led Abans’ steady expansion into other industries and set an impressive benchmark for others to follow. Abans became the first to launch major South Korean electronics brand LG in Sri Lanka. They moved on to become the first large-scale environmental solutions provider with the establishment of Abans Environmental Services in 1981. Abans pioneered the entry of international food chains in Sri Lanka by spearheading the entry of McDonald’s into the Sri Lankan market in the late 1990s.

More recently, with the opening of the joint venture Colombo City Centre in 2018, Abans has exemplified its vision of enhancing urban living in Sri Lanka.

Furthermore, being one of Sri Lanka’s largest retailers, Abans possesses an extensive retail network of over 400 showrooms and branded standalone outlets spanning the entire island, offering a diverse product lineup which includes furniture, beauty, lifestyle brands, home appliances, electronics, etc.

Abans, which operates with a simple vision to enhance lives, has continued to do so for the past 50 years. Whether it is through the vast product ranges and services offered to employment opportunities and CSR initiatives, the Abans Group is committed to empowering people to be more than they were before. Time and again, Abans has proven that its status as a cultural icon and beloved household name in Sri Lanka is well deserved.