Softlogic Holdings Plc has already established its pioneering leadership as a retail giant, leading the consumer electronics and apparel segments and innovating in the restaurant and food business by partnering global brands. It is now expanding its footprint in modern trade to tap into the strong potential this segment holds. This launch will herald a new chapter in the history of the retail industry in Sri Lanka. Customers can expect a truly global experience which was not available in the country thus far.
Commenting on the exciting launch, Softlogic Holdings Plc Chairman and Managing Director Ashok Pathirage said: “Rising disposable incomes and the effects of globalisation are resulting in customers holding high aspirations and expectations from their retail experience and our newest offering will offer just that – an activity many consumers delight in when they travel abroad. Customers can look forward to a comprehensive array of products under each category, such as bakery, meats, dairy, grocery, homeware, lifestyle etc., to ensure they can shop for all their daily and household needs under one roof. Over the last few years, modern trade has demonstrated strident growth. Softlogic is well poised to ride to the forefront of this wave by presenting a global offering that surpasses any such place in the market presently.
“In true Softlogic tradition, we expect to set new benchmarks in modern trade as we have in retail, by bringing the best of the best and top-of-the-line products for discerning consumers in Sri Lanka. We believe this expansion is a natural progression which will complement the group’s other consumer driven businesses, allowing it to be present across and visible in all key consumer value chains. The influx of tourists into Colombo also gives rise to the need for an international global experience that we will now offer. We are excited about bringing a truly innovative and technology-backed modern trade experience to enhance the landscape in the country and elevate consumer tastes, lifestyles and the overall shopping experience.”
Sri Lanka’s modern grocery retail sector has also seen robust growth supported by improving incomes, rising urbanisation and changing lifestyles, which has attracted more customers from traditional grocery channels. Penetration, however, remains low with only 15%-18% of FMCG sales generated by modern grocery retail, relatively low in comparison with regional peers as per Fitch (2017).
This global market offering is being launched by Softlogic Supermarkets Ltd, a subsidiary of Softlogic Retail Plc, under the ultimate parent group, Softlogic Holdings Plc. As a consumer-focused business, it has over 100 international brands marketed through one of the country’s strongest distribution channels.
Softlogic Holdings Plc is one of Sri Lanka’s largest diversified conglomerates with leading market positions in growing economic sectors in retail, healthcare, financial services, leisure and automobiles. Softlogic holds authorised distributorships for key global brands and today employs over 10,000 people in its offices located in Sri Lanka and Australia.