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Lanka Sathosa e-commerce website to start direct online sales in six months

Despite an FMCG market decline for two quarters in a row across the country, Sri Lanka’s largest state-owned retail chain has successfully boosted its own turnover with stronger numbers to Rs 31 Bn-highest so far. “I am pleased to say that Lanka Sathosa achieved Rs 31 Bn turnover last year, the highest so far in this network with 15% growth compared to 2016. Also, Lanka Sathosa is the main mechanism of the Unity government to give the lowest prices for consumers and a key mechanism in the determination of Sri Lanka’s cost of living” said the Minister of Industry and Commerce Rishad Bathiudeen under whose purview Lanka Sathosa falls.
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Minister Bathuideen was addressing the launch event of Lanka Sathosa’s new web www.lankasathosa.org on 30 June in Colombo. According to officials, the new portal will move to e-commerce next. “We are working towards e-commerce transactions from this website starting from January 2019. This new approach could give a big boost to our sales” said CEO-Lanka Sathosa Dr. Mohamed Faraz. “Lanka Sathosa total turnover is Rs 31 Bn –a 15% growth compared to 2016“ he added. The growth trend became even stronger this year. In the first six months of 2018, turnover grew by 16% when national FMCG sector in the same six months showed a decline of 12%, according to AC Nielsen.
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Lanka Sathosa now has 398 outlets island-wide with over 5000 employees and is now preparing to launch a set of mega stores as part of its network expansion to reach out to other consumer segments. (Media Release)
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