Business
Hela Apparel Holdings formally commences operations in Egypt
Following the conclusion of its successful listing on the Colombo Stock Exchange, Hela Apparel Holdings has expanded its global footprint by formally commencing operations at its latest factory in Egypt recently. The much-awaited expansion will enable the company to provide an attractive nearshore manufacturing offering, strengthening the organization’s focus on providing the world’s leading apparel brands with innovative and sustainable supply chain solutions.
The 275,000 square foot manufacturing facility is situated in the Alexandria Governorate, an area with a well-established skill base in apparel manufacturing that also hosts one of Egypt’s largest ports. The facility is equipped to accommodate up to 2,500 workers during a single shift, with the potential for significant further expansion. With this new addition, Hela has increased its global footprint to 12 directly-operated manufacturing facilities, reaffirming its position as one of the leading apparel manufacturers in Africa.
Commenting on the expansion, Sanath Amaratunga, CEO of Hela Kidswear said, “We’ve had an extremely positive response from both our existing and a range of new customers on our expansion into Egypt. It offers an immediate solution to the growing demand for speed in apparel sourcing. The well-established skill base and integrated supply chain in Egypt allow us to offer a range of product types at competitive rates. In addition, Government authorities are very supportive and provide a range of incentives when establishing export-orientated manufacturing in Egypt. I would also like to take this opportunity to express my gratitude to the Egyptian embassy in Colombo for their invaluable support throughout the establishment process, as well as to our staff members in Egypt for their hard work and commitment to Hela’s vision”.
Egypt offers a range of advantages for apparel manufacturing – most notably its geographic proximity to major markets, with shipping times as little as 3 days to Europe and 12 days to North America. This addresses the increasing demand for speed and nearshoring solutions from global apparel brands, which has become more pressing as a result of the logistics disruptions caused by the pandemic. Egypt also has a well-established textile supply chain, which drastically reduces the need to ship raw materials from Asia, bringing down lead times further, as well the overall environmental impact of production, which is another key benefit for apparel brands. In addition, Hela’s foray into Egypt will allow indefinite duty-free access to both the EU and UK market, through Egypt’s bilateral free trade agreements – as well as to the US via the Qualifying Industrial Zone initiative.
“Given the strong interest we are seeing from customers, we expect a significant positive contribution to both top and bottom-line growth from Egypt over the coming months, with the medium-term goal of reaching USD 100 million in exports from the country” he added.
Hela Apparel Holdings is a social capital-focused company built on a culture of inclusivity, equality, and sustainability with a strong focus on strategic partnerships with long-standing customers, providing responsive and dynamic end-to-end supply chain solutions to global apparel brands. The company is a leader in ethical and sustainable apparel manufacturing, having received numerous global accolades in this regard and recently becoming a signatory to the UN Global Compact. Through its global expansion initiatives, the company has also emerged as a leader in Africa’s apparel manufacturing revolution. The Group provides manufacturing solutions to some of the world’s top luxury apparel brands including Tommy Hilfiger, Calvin Klein, Michael Kors, and VF Corp, through its 12 manufacturing facilities located in Sri Lanka, Kenya, Ethiopia, and Egypt.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
