Says SL should be part of the billion-dollar industry

By Sanath Nanayakkare

One may often hear panelists at business forums waxing eloquent about domestic value additions to imported raw materials for re-export and earning valuable foreign exchange for the country.

But one would rarely hear about a self-made Sri Lankan woman entrepreneur who is slowly but steadily attracting global attention towards Sri Lanka — for transforming imported human hair supply into stylish hair solutions for women — who face loss of hair and suffer from low esteem.

The Island Financial Review recently had an interview with the presidential award-winning hair extension specialist, Dr. Kaveesha Bethmage who is the owner /CEO of Salon Kaveesha International (Pvt) Ltd in Dematagoda where 30-hair extension artisans are employed.

“No matter which country we are from and what our differences may be, we all have a strong view of hair. Hair is a subject that is very important to women and their self-esteem. We often see our hair as a reflection of our identity because it is both personal and public. The positive or negative view of hair can greatly affect a woman. Hair, its length, texture and colour, all affect how a person looks and how they will be perceived. Lack of hair is not only directly associated with the appearance of a woman, but it also can significantly contribute to a loss of confidence resulting in many other negative personal implications. This is especially important for women with medical conditions that result in receding hairline. Needless to say more, hair is one of the assets for women”, says Kaveesha.

“Salon Kaveesha’s hair extensions are a quick fix for length and volume. Our products make our clients feel more confident as they blend with their own hair. This is always custom work, and my team is well-trained to adapt the extensions to the client’s hair structure, texture, colour and style preferences”, she says.

Delving into the pig picture of the industry she says,” Only a very few people know that the hair extension industry is more or less like the jewellery industry because the raw materials of both industries are valuable and hard to find. However, there is a distinct difference between the two supplies. A woman with the right volume of hair can look stunning without any jewellery. But the other way round is never true. This is why the hair extension industry is a billion-dollar industry in the world.

Sri Lanka can claim a sizable market share in this industry as many foreigners wouldn’t mind travelling to Sri Lanka to get this service and enjoy a short stay here,” “We already have a lot of expats coming to get our products and services. Our newly launched website has paved the way for us to receive an increasing number of orders from the USA, Canada, UK, Italy, Germany, Australia, the Middle East etc. Our AI-driven online platform enables virtual hair extension try-on for potential clients. So, they can see themselves virtually with their preferred hair extensions and place their orders. Usually, the lead time for delivery of an export order is about two weeks, and the prices vary according to the type and style of the chosen extension,” Kaveesha says.

“We have a range of hair extensions for those who can visit Sri Lanka as well as who can’t physically be here, but love to use our products after virtually experiencing it. I am glad that we have seen an increase in the number of online orders since we started exporting in 2020, on a small scale during covid-19 pandemic. The salon was founded in 2003, and our hard work has paid off with our export footprint. I think it’s high time we expanded our business to make it more industrial and globally competitive, and be more visible to the global audiences,” she says.

Kaveesha’s local clientele comprises celebrities, professionals, businesspeople, academics, politicians among other clients.

“Now we want to sell our hair products to the entire world. With this objective in mind, I am planning to establish a new hair products factory including the salon near the Katunayake International Airport to provide easy access to my clients. Then they can have their desired hair extensions within minutes of leaving the arrivals terminal. I know from experience that is how fast they want this critical service.” she says.

According to her, the new eco-friendly facility will cost about Rs. 45 million and it will create at least 60 jobs for industry veterans and novices.

“Our vision is to take Salon Kaveesha to international prominence as a leading provider in the hair and beauty industry. I am confident that the banks I deal with, will support me in financing the new project given the establishment’s proven track record, and my industry experience of more than 20 years.” she says.

Kaveesha points out that one challenge for her business is getting the right equipment and accessories for her trade.

“Hair extensions, hair-to-hair transplants and making innovative hair products from finest human hair is a specialized trade. But we can hardly find the sophisticated tools in Sri Lanka for it. We have to go abroad from time to time to purchase them,” she says.

Buddini Jayanika, manager at Salon Kaveesha said that they have donated many hair wigs to women in marginalized groups who faced hair-loss due to medical conditions and couldn’t afford to buy one. She also mentioned that her CEO believes in giving back to society, and therefore, Salon Kaveesha supports several CSR activities.

The embellishment annually donates hair extensions to cancer patients and underprivileged individuals to boost their confidence and self-esteem. It also provides stationery to students of disabled army soldiers every year to support their education.

Kaveesha’s husband, Lasantha Bethmage is an investor cum director of the establishment.

In 1999, a renowned Italian business firm entered Sri Lanka and invested in the garment sector. Calzedonia first invested in the Omega Line. The firm first focused on the European market, followed by Sirio Limited and Alpha Apparel investments. Benji Limited began making bra cups, briefs, and bras for women in 2006. Calzedonia eventually changed its name to Oniverse, but the group’s operations continue to grow and spread worldwide.

Benji Limited and the BOI inked an expansion agreement for US$35 million. The company’s parent company, Oniverse, opted to invest more investment in Sri Lanka, citing its extensive understanding of the local business ecosystem and renewed confidence in the normalization of business in the country.

Giorgio Montresor, CEO and Managing Director of Benji underlined the importance of Sri Lanka’s human resources in attracting new investment. He also remarked that young Sri Lankans are very capable of learning new technologies, and their work ethic is among the greatest in the world. All of the group’s companies currently employ about 15,000 people.

Currently, Benji manufactures 30 million bra cups. This fresh capital injection will bring in new technology-driven machines with increased capacity and improved quality. We expect a 35% increase in production. All group firms source bra cups from Benji, reducing imports of bra cups from China to nil. As a result, this investment will not only increase foreign exchange inflows but also reduce dollar outflows.

The MullenLowe Group (MLG) Sri Lanka announced the senior appointment of Nishant Mehta as VP & Chief Strategy Officer from 1 January 2025. The announcement signals the group’s intention to further strengthen its Strategic Offering by appointing a senior brand strategist. The depth and diversity of Nishant’s experience complement MLG’s large and diverse portfolio of brands.

With a career spanning key markets including India, China, Dubai, and Malaysia, Nishant brings a wealth of cross-category expertise. His background includes work on leading brands in personal care, home care, food and beverage, automotive, retail, and finance, including work with notable brands like Unilever, Britannia, Carlsberg, IKEA, McDonald’s, Estée Lauder, Nissan, and Tata Motors.