Business
Transforming tenacity & resilience into opportunity
Powerful message at SLASA AGM aimed at rebuilding industry for 2025 target of USD 8 Bn Build on relationships, emphasize on service & adaptability, become preferred destination
The Sri Lanka Apparel Sourcing Association held its 25th Annual General Meeting recently under the aegis of the Charge d’Affaires of the EU Thorston Bargfrede for the post-business session. Wilhelm Elias was re-elected Chairman, while the Vice Chairmen elected were Shweta Dhir and Azmina Kareem, Treasurer Denver Jayasundara and Secretary Gayan Galapitige as office bearers for the year 2022/23. Gopal K Iyer was appointed Secretary General for the Association.One of the most powerful messages emerging from Chief Guest Bargfrede, Chairman Wilhelm Elias and the Vice Chairmen Azmina Kareem and Shweta Dhir, was that while the apparel industry had shown extraordinary tenacity and resilience through COVID and the economic crisis well evidenced by the good export results Sri Lanka was showcasing in 2022, there was a need to transform and that too with urgency.
Commending SLASA members for demonstrating the maturity of the industry and emerging stronger and more vibrant post the pandemic, Elias described the rapid transformation seen within the industry during the economic crisis as truly remarkable. “We adapted to new ways of doing business while also keeping the country’s needs a priority. There was no rule book to work on but business leaders demonstrated how the industry was flexible and quick to adapt while reaffirming Sri Lanka’s reputation of being a safe pair of hands.”
He added that in the next half of 2022, external forces are emerging, prompting a drop in numbers with galloping inflation west, customers being over-stocked and disposable income reducing. Elias said competitor countries will hard to keep business they gain from Sri Lanka even temporarily and hence, the industry must ensure that buyers are given good reason to move back to Sri Lanka. “In the larger picture, all apparel manufacturing countries are seeing an organic decline in business levels and we need to be conscious of reducing prices.”
Vice Chairman Azmina Kareem had similar sentiments, augmenting Elias’ message that the industry needs to focus on opportunity. “Firstly, it’s about service and adaptability,” she explained. “Customer expectations are moving beyond to an end to end service model and suppliers are being empowered to do more for brands which is the bigger expectation of the brands. The traditional buyer-supplier relationship is diminishing.” She also emphasized a rebranding for Sri Lanka as a trading destination, taking advantage of the short transit times and cost competitiveness
Vice Chairman Shweta Dhir detailed a three-pronged approach. “Fabric sourcing needs to be diversified; we must hedge our risks with a healthy mix of near shore and indigenous fabric sourcing, focusing on aesthetics together with innovation. And the conscious consumer is here to stay which, with Sri Lanka being far ahead in terms sustainability initiatives, we can be the first port of call for many labels who plan to become transparent and responsible. Thirdly, we must showcase our product strengths, creating showrooms with shipped products constantly re-quipped with newness and market intelligence to buyers – sufficient with just sketch, swatch and digital representations.”
To meet the industry target of USD 8 billion by 2025 and determined to rally the troops, Elias stressed the need for relationship building which will come under stress in the months to come. “We are not the most cost-effective country, but we must transform our renowned resilience and tenacity into opportunity by building on our strengths and re-thinking our strategy, keeping that foundation of relationship building strong.”
Contact Secretary General Gopal Iyer on +94 777 556028
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
