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Increased footfall signals quick uptick in consumer spending: fashion retailer

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by Sanath Nanayakkare

Fashion conscious consumers who had to remain indoors for most of the past year due to the pandemic, are emerging as the major group influencing sales of clothing items and accessories in the run up to Aluth Avurudu season, Dinesh Ekanayake, an assistant general manager at Fashion Bug told The Island Financial Review on Saturday.

He said he could already see a full year of pent-up fashion consciousness and desire waiting to be unleashed, driving a higher footfall to their stores spurring a notable rebound in consumer spending.

“We also notice that the consumer behaviour when choosing products has become more discerning and sophisticated. So we have focused on how consumer requirements can be satisfied and we drew our attention to the development of more products and brands according to consumer needs and attitudes,” he said.

When asked about the differences between men’s and women’s shopping habits. Dinesh said,”Women tend to spend more time in the store while men are more likely settle for the first feasible item meeting their needs. And women buy more items than men do.”

Asked which gender spends more on clothes, he said,” That’s an easy question. Women spend more on clothes. But let me say this too. Women are more likely to walk around and compare the prices unlike men perhaps because they buy clothes more frequently.”

Responding to another question he said, “Yes, we are aware that consumers have to bear price pressure in the food market, so we have made a good arrangement at our stores to balance it out and make them feel at ease. We have done it by focusing on ‘value for money’ for our consumers, after considering the broader economics they have to deal with on a daily basis. With the new expansion and other measures, we are ready to cater to all segments of our consumers without leaving anyone behind.”

Dinesh made these comments when Fashion Bug introduced a new look to their Maharagama branch, opening the refurbished branch to the public in the area.

Dr. Anil Jasinghe, Secretary to the Ministry of Environment was the chief guest at the event.

Dr. Jasinghe said,” My association with Fashion Bug goes back to 2001 when I used to take my daughter to Fashion Bug near British Council to do some shopping. Later we formed an official bond where Fashion Bug wanted to engage in corporate social responsibility activities in healthcare settings. They agreed to a proposal forwarded by me to make their CSR work more formal and sustainable over a period of five years at least. They accepted that concept and they have been adopting the model for maintaining the particular clinical ward at the Colombo South Teaching Hospital and a number of other hospital wards in the country today. We are glad to see that other companies also have embraced this model in their CSR work in the health sector to help out the patients”.

Shabier Subian – CEO of Fashion Bug said, “It’s no secret that due to unprecedented events, many of our clients seek something to add a little brightness and colour in their lives. Let Fashion Bug be your ‘silver lining’ with something new for everyone.”

 

 



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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