Lanka Sathosa opens 325th outlet in Muttur; targets 500 outlets by end 2017

Monday, 13 February 2017 01:03 - - {{hitsCtrl.values.hits}}

Industry and Commerce Minister Rishad Bathiudeen at the Lanka Sathosa Muttur outlet with Lanka Sathosa Chairman Dr. Rohantha Athukorala.

Sri Lanka’s largest retail chain Lanka Sathosa stamped its presence in the market by launching its 325th retail outlet in the beautiful hamlet of Muttur in its bid to maintain the dominance of being the ‘price setter to the nation’.

Industry and Commerce Minister Rishad Bathiudeen announced that Lanka Sathosa would cross the 400-outlet mark within the next month and was targeting to have 500 outlets in the country by the end of 2017. The organisation crossed the Rs. 26 billion mark last year and has made infrastructure improvements like launching a digital environment of CCTV and POS/ERP so that it can be equipped to meet the challenging market demand in the fast changing retail landscape of the country, said the Minister.

Lanka Sathosa Chairman Dr. Rohantha Athukorala said: “We are setting the stage to stabilise the price of rice with Nadu at Rs. 72, Samba at Rs. 80 and Red and White Raw at Rs. 70 and I thank the staff and the Sri Lanka Army for their support in this effort.

“In the general trade for stabilisation to set it, it will have to run its course of time given the supply chain complexities,” added Athukorala.

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