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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Lanka Tiles to open outlet in Maldives

Lanka Tiles to open outlet in Maldives

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1Lanka Tiles to open outlet in Maldives  Empty Lanka Tiles to open outlet in Maldives Sun Jun 15, 2014 9:11 am

Jayashantha

Jayashantha
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Lanka Tiles PLC, which is now the under the control of Lanka Walltiles Plc owned by businessman Dhammika Perera has plans to open a new showroom in Male, Maldives in July 2014, a top official of the firm has said.

Addressing stakeholders at the release of the firms Annual Report 2013, Managing Director, J A P Mahendra Jayasekera has announced that the new showroom to be open will be operated by the company’s distributors in Maldives.

“The LANKATILES showroom in Bangalore, India being operated with our distributor was opened in July 2013. The new LANKATILES showroom in Male, Maldives which will be operated by our distributor is scheduled to open in July 2014,” the Managing Director announced in his review for the financial Year ended March 31, 2014.

In the international market, even though Lanka Tiles PLC has been exporting floor tiles for more than 20 years to competitive markets such as Australia, New Zealand, USA and Japan, etc the scheduled opening of a showroom in Maldives will only be its second stand-alone presence for the company after India.

“With the expansion of this network we will gradually reduce the Company’s dependence on dealers and distributors to sell our products, as I mentioned in my report last year,” Jayasekera added.

In Sri Lanka, Lanka Tiles now operates 37 franchise showrooms island-wide. In 2013, the company increased its presence by opening eight showrooms including a new high-end showroom in Jawatte Road, Colombo 5.

Meanwhile, commenting on the changing global trends and what it might mean for the future of the tile industry, Lanka Tiles MD Jayasekara said the global economic growth in 2013/14 was in low gear and the key drivers of economies activity has changed from west to east.

- See more at: http://www.nation.lk/edition/biz-news/item/30258-lanka-tiles-to-open-outlet-in-maldives.html#sthash.KYxRLkzj.dpuf

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