Newest Lanka Sathosa records Rs. 611,000 on day 1

Saturday, 18 February 2017 00:00 - - {{hitsCtrl.values.hits}}

The first day’s turnover of the latest Lanka Sathosa outlet exceeded Rs. 600,000 and Sri Lanka’s largest State-owned retail chain is now aiming at 500 outlets, as per its expansion plan.

“Lanka Sathosa now employs more than 3,500 people,” said Minister of Industry and Commerce Rishad Bathiudeen on 12 February in Muttur, addressing the opening event of the 325th Lanka Sathosa outlet there.

“Lanka Sathosa is the State-owned large-scale retail business in Sri Lanka. We have 3,500 employees with an annual turnover of Rs. 30 billion,” said Bathiudeen. “The new management of Lanka Sathosa has developed strategies for expansion. Among important projects planned are 125 CCTV projects, 195 ERP projects, setting up of five laboratories, and installation of a human resource information system.”

On its first day in action, Muttur’s Lanka Sathosa outlet recorded a turnover of Rs. 611,000, catering to almost 1,000 consumers who patronised it.

Market studies reveal Lanka Sathosa is mostly used by households whose income is Rs. 30,000 and below – 60% of Sri Lanka’s population.