Laksala targets Rs 550m in revenue this year | Sunday Observer

Laksala targets Rs 550m in revenue this year

20 August, 2023
State Minister Prasanna Ranaweera
State Minister Prasanna Ranaweera

Recreating the golden era of Laksala (Sri Lanka Handicrafts Board) again, the institute is on line to achieve Rs. 550 million in revenue by the end of this year, said State Minister of Small Industries, Prasanna Ranaweera.

He said that they have already achieved a revenue of Rs. 250 million in the first half and with a lucrative tourism season on the cards they will certainly go beyond the Rs. 550 million targeted revenue mark.

Paying a tribute to Tour Guides in Sri Lanka he said that they supported Laksala by contributing nearly 80% of sales volume. “This helped us to improve the local handicraft industry which was facing tremendous difficulties for some considerable years.”

He said this at an event hosted by Laksala in Colombo to reward the Sri Lankan Tour Guides Association (SLINT GL) for bringing in large crowds of tourists to patronise Laksala outlets Islandwide.

State Minister Ranaweera said that Laksala is not merely a trading outlet chain but it is the national arm to facilitate the small industrialists to develop their products along with the assistance of National Design Centre and National Crafts Council. He said the 3 Chairmen of these institutions under his ministry have been advised to work closely with the Industrial Development Board (IDB) and Sri Lanka Tourism to provide a helping hand to the small industry.

The new Chairman of Laksala Rushan Marambe said that when the country is focusing on Production Economy and Export Economy; both objectives are being fulfilled by the Sri Lanka Handicrafts Board - Laksala.

“We help the local traditional small scale handicrafts producers to sustain and develop their industry while earning foreign currency by exporting these produce through direct tourists. He said over 95% of purchases are made by tourists and the bigger portion of the balance 5% is although purchased by locals they buy them for gifting foreigners and therefore this industry is almost meant for exports.

“It is our duty to protect and support the craftsmen in Sri Lanka and convert these small-time industrialists to highly potential small entrepreneurs and further develop them to medium scale. The groundwork for this plan has already begun at the office,” he said.

Laksala has identified most potential areas such as Colombo, Kalutara, Galle, Matara, Rathnapura, Gampaha, Kandy, Matale, Kurunegala, Anuradhapura, Polonnaruwa and Jaffna to commence this project.

He said that Laksala has almost streamlined its payment system and an improved methodology has been implemented to pay suppliers on time. He said with a thorough analysis, 750 fast moving Store Keeping Units (SKUs) have been identified under eight product categories to be available in showrooms based on different requirements at particular locations.

Marambe said that he will closely monitor the supply chain segment of this operation and ensure improved product availability at all showrooms for all walk-in customers to be delighted in the future.