Calamander to double investments in Sri Lanka to Rs. 5 b

Monday, 14 July 2014 02:10 - - {{hitsCtrl.values.hits}}

By Senuri De Silva The Calamander Group, a boutique investment manager that owns The Coffee Bean and Tea Leaf franchise for Sri Lanka and Bangladesh, plans to invest Rs. 2.5 billion more in Sri Lankan hotel and food and beverage industries. “The Group has plans to invest Rs. 5 billion in Sri Lankan hotels. So far we have invested Rs. 2.5 billion,” said The Calamander Group Inc. Chairman and International Brands Ceylon Ltd. Managing Director Roman Scott, while also discussing the Rs. 500 million that has been approved by the Board to develop The Coffee Bean and Tea Leaf franchise in Sri Lanka. “We have already invested Rs. 500 million in Coffee Bean, Rs. 500 million on real estate and Rs. 1.5 billion in hotels,” he said. “The next Rs. 2.5 billion investment will also have a similar breakdown.”

The focus of the discussion, however, was the Coffee Bean brand and the launch of their quality promise initiative called ‘Origins’ to support its brand promise of being ‘Simply The Best’ by declaring the origins of everything the brand makes and every ingredient it uses. “Our customers have the right to know what they are eating and drinking, what goes inside, where it was made, and by whom. You want to be able to trust quality and safety, and know it’s going to be consistent. Origin is everything,” said Scott. The brand plans to state the origin of all its ingredients for all products. “We are already trusted for the quality of our coffees and ice blended drinks, so the news for many customers will be more about our food,” said Scott. “But it’s nice to know that every coffee bean we grind can be traced back to the original estate where it was picked, from the bar code on each coffee bag. That’s impressive.” Speaking of future investments, Scott also spoke of the Coffee Bean outlet that will be refurbished and reopened in Maitland Crescent. “We announced that it’s going to be Rs. 30 million but actually it’s going to be Rs. 50 million. It’s going to be a very, very fancy store with two floors, 4,500 sq feet and two outdoor areas, to be opened in September.” New branches will be opened in Negombo, Liberty Plaza, Rajagiriya and Bambalapitiya and there are further plans to open outlets in Kandy and Mount Lavinia. Scott explained the increasing interest for investing in Sri Lanka due to its consumption-based market that supports micro investments saying, “The middle class is expanding fast and there is a lot of potential here. We want to expand to 10 outlets in the next 18 months and have 20 outlets by 2020.”