Brands Annual names ‘LAUGFS’ leader in the ‘new brigade’

Tuesday, 3 May 2011 00:00 - - {{hitsCtrl.values.hits}}

Sri Lanka’s brand almanac better known as Brands Annual published by LMD has named “LAUGFS” brand as the leader in the new emerging brands category better known as ‘new brigade’ which managed to show a vibrant impact in pushing the country’s corporate brands into new heights.

Accordingly the LMD in its latest stand-alone issue ‘Brands Annual’ has referred ‘LAUGFS’ as mover and shaker among the brands that come from the ranks; what international brand rating agency Brand Finance refers LAUGFS as the “new brigade.”

Besides, under its most top valuable brands in the country the Brands Annual had ranked LAUGFS at 38th position with a brand valuation of Rs.299 million together with AA+ ranking tag. The magazine also had rated LAUGFS enterprise value as Rs.2, 634 million which is 27% as a percentage with Brand/enterprise ratio.

The Brand Finance the international leader in qualifying and leveraging the value of intangible assets, presenting its verdict on the country’s tops brands, titled under headings of the ‘Charge of the New Brigade’ had commented that Sri Lanka’s most valuable brands league table which is being published for the seventh consecutive year, saw an injection of new blood through a spate of IPOs that took the stock market by storm last year”.

“Leading the charge of the new brigade is LAUGFS which comes at No.38”, stated Brand Annual in its latest issue.

In its profile update of country’s top brands the Brands Annual had stated that LAUGFS which began its journey in 1995 by pioneering the introduction of the Liquid Petroleum Gas (LPG) as an alternative fuel for motor vehicles in Sri Lanka, has since diversified to become a successful conglomerate under the business entity LAUGFS Holdings.

“Its business arms span consumer retailing, restaurants, leisure, bottled water, property development, industrial tires and lubricants to name a few. Indeed the brand is a household name in this country today, with long term plans to establish itself as aglobal player”, Brands Annual had stated.

Quoting comments made by the Chairman of the LAUGFS Holdings W. K. Wegapitiya, the Brand Annual had stated that LAUGFS’ entire strategy for growth and diversification has been propelled by a vision to ensure that LAUGFS will one day be a leading global contender.

The Brand Annual had further had stated that “But Wegapitiya and his team take an intellectual approach to branding. He downplays the need for branding when dealing in sectors involving pre-sold products such as fuel, lubricants, and consumer retailing and property development”.

The magazine also had quoted Chairman of the LAUGFS saying that “These products are essential items. So they will sell with or without branding. Very often, location is a strong selling point than branding. That said, our branding strategy centres on consolidating our diversified holdings under one instantly recognisable name”

Commenting on the ultimate goal of the LAUGFS as a brand, chairman Wegapitiya stated that his goal was to make LAUGFS, “a household brand” that people will find necessary in their day-to-day lives. He emphasised that ‘knowingly or unknowingly’, when a consumer pulled into one of their emission testing centres, walked into LAUGFS supermarket, used their fuel for automobiles or household consumption bought their lubricant, LAUGFS will be an integral part of their lives.”