LOLC ready for quantum leap growth through branding

Tuesday, 19 April 2011 00:41 - - {{hitsCtrl.values.hits}}

LOLC said yesterday it was readying for a quantum leap growth through strategic branding initial efforts which has already been rolled out.

Group Managing Director/CEO - Kapila Jayawardena revealed that the Group has scheduled six of its subsidiary companies to be realigned shortly in line with both Macro and Micro developments and will be introduced to the market on a planned time scale.

“Lanka ORIX Finance Company Ltd. was the first to be launched with a new identity. Following in its footsteps, LOLC Insurance Co. Ltd, LOLC Motors Ltd, LOLC Micro-Credit Ltd, and the LOLC Leisure Group with four hotels - namely Eden Resort and Spa, Hotel Riverina, Club Palm Bay and Tropical Villas - will be rebranded,” he added.

Recently, LOLC announced that it was in the process of transitioning into a Holding Company structure, where it is poised for quantum leap growth through branding. Jayawardena added that LOLC possesses more territorial opportunities that enable them to easily penetrate through their new Corporate Branding strategy that is being adopted by the subsidiaries.

“This will make them stand out on their own, while associating the core values of LOLC. The importance of trust will run through its entirety adding value to the branding experience,” he stated.

He reiterates, that continuity is of paramount importance to the brands formation and longevity, and that the Company has evolved from leasing to a Total Finance Solutions Provider and then again to a diversified Group of Companies, which required it to inculcate strategic changes to the Corporate Brand. “This was possible through vertical and horizontal brand extensions”, says Kapila Jayawardena.

As a result of this new branding strategy, Lanka ORIX Finance Co., now stands to function independently with renewed vigour. The Company which was widely acclaimed as the fastest growing Registered Finance Company (RFC) in Sri Lanka will continue to reflect values of trust and strength whilst offering an opportunity for growth and diversification.

In the recent years the LOLC Group made a series of strategic acquisitions/investments in both the financial and other high growth sectors with its total assets valued at Rs. 107.95 billion against some of the leading, old league conglomerates.

Its business portfolio now covers services such as total financial solutions, leisure, construction, technology, agriculture, plantations and renewable energy. It also owns a strong brand presence in the formal financial sector with hopes of more brand extensions in the near future.

As a result of its high density growth, the Company has fast paced its efforts to position LOLC as the holding company of the Group.