Business
Kapruka’s Sub Brand SOLDOUT.LK launching online marketplace for second-hand goods

Kapruka, the pioneering e-commerce platform that has evolved into Sri Lanka’s largest locally owned global e-com platform, announced its plans to launch a ‘used goods marketplace’ as a fully owned new sub-brand – ‘Soldout.lk’. The marketplace will serve as an e-com platform for pre-owned goods, connecting buyers and sellers seamlessly, with added features such as home delivery and order fulfillment. The market stands to significantly benefit the local automobiles and property sales trade industries, which have an active second-hand market.
‘Soldout.lk’ will be developed to be similar to ‘Craigslist’, the globally famous marketplace for trade and second-hand goods. To enhance the effectiveness of the marketplace, Kapruka plans to establish a grassroots-level social dealer network across the island, under the new venture.
Kapruka aims to fund its growth plans through a share issuance from the upcoming IPO, which will include the development and launch of Soldout.lk. The e-com site plans to launch the specialized used goods marketplace which would be one of the first of its kind in Sri Lanka – a timely intervention given the significant increase in public interest towards using purchasing second-hand goods through online resale platforms to meet their needs throughout the pandemic.
Soldout.lk will be initiated as a separate business unit under Kapruka E-commerce (Pvt) Limited which is a fully owned subsidiary of Kapruka Holdings Limited, and would later be carved out to form a separate business. Kapruka will invest a sizable portion of IPO proceeds towards the latest initiative, commencing from 2022.
Commenting on Soldout.lk and the future of Kapruka’s services, Founder and Chairman, Dulith Herath stated, “We are excited to announce our upcoming used goods marketplace, ‘Soldout.lk’, which we hope will transform the second-hand sales in Sri Lanka. The idea of this initiative is to explore why consumers should pay a premium price for something new when anyone could get almost the same just as functional and beautiful. Maybe it’s not directly out of a box, or maybe it’s barely been used, but anyone could get it at an affordable price. Also, there is a sustainability aspect to it where we encourage people row re-use which is good for our planet, while enabling customers to easily fulfill their needs. The platform is part of our long-term investment plan further to the IPO, with the central goal of providing a pathway to easier purchases, and a greater sense of affordability for customers, thereby elevating our ability to create economic value for all stakeholders. Soldout.lk, which will draw inspiration from online trade giant Craigslist, has the potential to transform the online resale market in Sri Lanka, and is something we look forward to greatly.”
Having launched Kapruka back in 2002 as a start-up by founder Dulith Herath, with a capital of less than $1,000, Kapruka has transformed into the largest locally-owned ecommerce company in Sri Lanka. It is now a multi-billion-rupee enterprise, without any external investors, using a non-marketplace e-commerce model with fully integrated delivery, serving a wide variety of both local and expatriate Sri Lankan clientele. The company has since been benchmarked and recognized by global giants such as Amazon.com, IKEA, eBay etc. Being a local e-com ‘master-seller’ in Sri Lanka, Kapruka has also enabled an abundance of aspiring local producers and sellers to vend their products on the site. Kapruka stocks over 135,000 products, has partnerships with 500+ renowned brands and serves over 1.1 Mn expat clients.
Business
President briefs Sri Lankan delegation leaving for tariff related discussions in Washington

A Sri Lankan delegation is set to participate in discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR). This is the second in-person meeting aimed at ongoing efforts to strengthen bilateral trade relations between the two nations.
This initiative builds on several prior virtual interactions held between the USTR and Sri Lankan officials, and underscores a commitment to deepening economic ties. The upcoming talks are anticipated to explore avenues for enhancing trade cooperation and securing favourable outcomes for Sri Lanka, in light of current economic priorities.
Ahead of the visit, a high-level meeting was convened today under the leadership of President Anura Kumara Disanayake to ensure the country’s interests are well represented. The discussion focused on aligning the delegation’s approach with Sri Lanka’s broader economic strategy, ensuring the best possible outcomes from the upcoming discussions.
Key participants at the meeting included Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma; Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, K.A. Vimalenthirarajah; Duminda Hulangamuwa, Senior Economic Advisor to the President; Governor of the Central Bank Dr. Nandalal Weerasinghe; Secretary to the Ministry of Finance, Planning and Economic Development K.M.M. Siriwardana; Nirmal Vigneshwaran, representing the Attorney General’s Department; and Dharshana Perera from the Ministry of Foreign Affairs.
Details of the discussions in Washington are expected to be made available following the conclusion of the meetings.
[PMD]
Business
“Tourism Renaissance 2025” launched under the patronage of president

Sri Lanka’s largest tourism exhibition, “Tourism Renaissance 2025” (Sancharaka Udawa 2025), was inaugurated on Friday (23) at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo under the patronage of President Anura Kumara Disanayake.
Organized jointly by the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lanka Association of Inbound Tour Operators (SLAITO), this event brings together key stakeholders across the tourism industry. It offers a valuable platform for small and medium-scale enterprises, as well as individuals aspiring to enter the tourism sector, to connect with market opportunities and showcase their products and services.
The two-day exhibition, which ends on Saturday [24], features 250 trade stalls and includes participation from a wide range of sectors such as hotels, tour operators, airlines, service providers and educational institutions.
Speaking at the opening ceremony, Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath stated that the government has declared 2025 the “Year of Tourism Renaissance,” with plans to generate USD 5 billion in revenue from the tourism sector by the end of the year.
Also in attendance at the opening ceremony were Secretary to the Ministry of Foreign Affairs, Foreign Employment and Tourism Aruni Ranaraja, SLAITO Chairman Nalin Jayasundara, SLTPB Chairman Buddhika Hewawasam and a distinguished group of invitees including the Ambassador of Germany to Sri Lanka.
Business
‘Be Part of the Plan’ – Sri Lanka’s theme for International Day for Biological Diversity

Sri Lanka celebrated International Day for Biological Diversity with a vibrant national event at the Popam Arboretum in Dambulla, centering on the theme “Be part of the Plan.” The celebration, attended by students, researchers, community members, and officials, was led by Minister of Environment Dr. Dhammika Patabendi, who emphasized the country’s commitment to preserving biodiversity and promoting sustainable development.
Delivering the keynote address, Minister Patabendi said, “As a government, we are committed to taking every possible step to protect our ecosystems and biodiversity. But this is not the responsibility of the government alone. It is a shared responsibility—one that requires the active participation of every citizen.”
The event highlighted the value of community involvement in conservation and featured a series of exhibitions and talks focused on sustainable tourism, traditional food systems, and environmental education. Locally sourced underutilized fruits and indigenous foods were displayed and shared by communities, underscoring the deep ties between biodiversity and traditional knowledge.
The celebration also featured two major guest lectures. Professor Cyril Wijesundara spoke on the current status of biodiversity in Sri Lanka, while Professor Gamini Pushpakumara presented on the promotion of underutilized food crops—a key element in ensuring food security and sustainability in the face of climate change.
“This is more than a celebration,” Minister Patabendi told journalists at the event. “It’s a reminder that sustainable development must go hand-in-hand with nature. We need to build our future with the forest, not against it.”
By Ifham Nizam
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