Business
Sri Lanka Retail Forum 2023 highlights strategies for navigating economic crisis in retail sector
The Sri Lanka Retailers’ Association (SLRA), the apex body of organised retail in Sri Lanka, recently concluded the annual Sri Lanka Retail Forum under the theme ‘Redefining Retail: Future Proofing the Forward Journey’. The Forum was opened by Murali Prakash, President of SLRA, who addressed the importance of navigating the challenges faced by the retail industry and the imperative need to foster constructive dialogue by multiple experts from varying fields in the retails sector, on leveraging emerging trends, technology and navigating the prevailing economic crisis.
Ganaka Herath, Managing Partner of McKinsey & Company in Sri Lanka, who was the Guest Speaker at the Forum, spoke extensively about macro-economic trends, impacts of the various economic shocks on the industry and what the future could hold for retail sector.
As the retail sector is one of the most impacted by the prevailing crisis, the Forum was designed and implemented to facilitate urgent dialogue on leveraging all plausible courses through current turbulent economic conditions. It also explored global macro trends and how they can be best utilised in a national context and saw multiple discussions on sustainable operations to help ensure industry stability and growth.
The first session of the Forum was a panel discussion under the theme of ‘Delivering Value in Inflationary Times’, which explored strategies such as pricing and managing consumer behaviour against a backdrop of the significant surge in living costs.
The panel consisted of Karthik Hebsur, Partner at McKinsey & Company India; Ms. Dilini Jayasuriya, Founder/Executive Director at Breakthrough Business Intelligence (Pvt) Ltd.; Kamal Dole, Founder/Managing Director of Celcius Luxury Bedding and Affiliated Companies; and Kumar de Silva, Chief Executive Officer of SPAR Sri Lanka. The session was moderated by Channa Gunawardana, Chief Executive Officer, Dankotuwa Porcelain PLC.
The second session of the Forum was a discussion under the theme ‘Leveraging Tech for Retail Excellence’ which looked at how the national retail industry and global trends such as technology and applications can help influence and improve marketing, talent, and service delivery. The session was opened by Foreign Guest Speaker Lu Yao, Chief Commercial Officer of Daraz Group, who discussed the many facets of Daraz, and how the company leverages technology within its operations.
The panel which followed consisted of Chalinda Abeykoon, Managing Partner of nVentures; Ahamed Ur Rahaman, Chief Operating Officer of DHL Global Forwarding Sri Lanka; and Janik Jayasuriya, Chief Executive Officer of Celeste Daily. The session was moderated by Ms. Sanjini Munawara, Regional Head – South Asia, ADA Sri Lanka.
The third component of the Forum was a rapid-fire session with panellists from various sectors of the retail industry who shared experiences and insights garnered during the COVID-19 pandemic and the economic crisis that followed.
The panel included Fouzul Hameed, Managing Director of Envoy London & Hameedia Group Infiyaz M. Ali, Chief Executive Officer of Healthguard Pharmacy Ltd.; Charitha Subasinghe, President – Retail at John Keells Holdings PLC; Rajiv Meewakkala, Chief Executive Officer of Lion Brewery (Ceylon) PLC; and Shanil Perera, Director – Marketing at Singer Sri Lanka PLC.
The fourth and final session of the Forum was a chat with a panel of experts, on the future of retail in Sri Lanka and delved into insightful topics and helped create a possible roadmap for the future and sustainability of the Sri Lankan retail industry.
The panel consisted of Rakhil Fernando, Managing Director of Daraz Sri Lanka; Dimantha Seneviratne, Director/Chief Executive Officer of National Development Bank PLC, Ms. Avanthi Colombage, Country Manager (Sri Lanka and Maldives) at VISA Inc.; Shalin Balasuriya, Co-Founder of Spa Ceylon; and Shamal Gunawardene, Director, Sales and Commercial at Coca-Cola Beverages Sri Lanka. The session was moderated by Murali Prakash, President of SLRA.
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.”
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