Private public partnership to turnaround Lanka Sathosa

Monday, 4 January 2016 00:00 - - {{hitsCtrl.values.hits}}

lead-Private-Public-Partnership-Lak-Sathosa

In a landmark turnaround of business global household giant Unilever’s flagship brand Sunlight launched its new variant Lemon-Rose with a tie up with state owned Lanka Sathosa on 1 January in the presence of Minister for Industries and Commerce Rishad Bathiudeen at the Ratmalana Lanka Sathosa mega outlet.

“As per the 3rd Generation Economic reform statement by Prime Minister Ranil Wickremesinghe we are practicing strong private-public partnership by starting new business arrangements with the top corporates and discerning SMEs in the country so that we turnaround the business at Lanka Sathosa within the next six months,” Minister Bathiudeen said.

“Lanka Sathosa which targets the middle income consumers that account for almost 70% of the population has set sights on a turnover of Rs. 35 billion in 2016. It aims to increase the number of outlets from the current 306 to 500 this year, so that we stretch our brand to be the widest in range and become the top of the mind shopping experience to the middle income housewife,” Lanka Sathosa Chairman Dr. Rohantha Athukorala said. “Currently our store Equity rating is at 3.4 whilst trial to loyalty is at a high 67% which is the opportunity the brand has and the private sector must cash on to reach the mass market of the country,” he added.