Lanka Sathosa tops Rs. 23 b turnover with hallmark consumer promotion

Tuesday, 15 November 2016 00:10 - - {{hitsCtrl.values.hits}}

The largest retail organisation in Sri Lanka – Lanka Sathosa that is available across rural Sri Lanka crossed the Rs. 23 billion turnover milestone with a landmark consumer promotion partnering Hemas Consumer Ltd.

This is a classic example of ‘Private-Public partnership that President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe advocate for Sri Lanka, said the Minister for Industry and Commerce Rishad Bathiudeen at the launch event at Hotel Ramada.

Minister for Industry and Commerce Rishad Bathiudeen launching the hallmark consumer promotion together with Hemas Consumer Managing Director Roy Joseph and Lanka Sathosa Chairman Dr. Rohantha Athukorala

Hemas Consumer Ltd. Managing Director Roy Joseph said, “We are honoured to partner this unique promotion with Lanka Sathosa given that the brand has a loyal following in the households with an income of Rs. 30,000 and below which we are also targeting with our power brands Baby Cheramy, Diva, Clogard and Velvet which are all market leaders in their respective categories that it operates in. We are a truly Sri Lankan company serving the needs of a Sri Lankan consumer.” Lanka Sathosa has been giving leadership to driving rural Sri Lanka on the premise ‘Price Setter to the Nation’ in the area of provisions and grocery business which was a pivot on providing food security to the country in the year 2016 with the Government stipulating maximum retail prices in key essential items. “Lanka Sathosa which has brand strength of 3.6 as per the latest brand equity study in the focussed market we target must now penetrate stronger and link to the lives of a rural consumer,” said Lanka Sathosa Chairman Dr. Rohantha Athukorala. This promotion will set the stage for other companies to also join us and give benefits to our discerning consumers which will be wider in spectrum he said.

Sri Lanka was struck by a the AC Nielsen consumer index spiralling to an all time low of 46 in the month of September and after almost 18 months in October picked up to 54, easing the consumer confidence to savings, job prospects and perception on the prices of essential food items.