Softlogic expands Odel retail business

Department store upgraded:

Softlogic Group plans to transform its main retail store, Odel, in Ward Place into a 6,000 square feet shopping mall by 2019.

This comes as part of the group’s new phase of expansion which is underway, Softlogic Group Chairman Ashok Pathirage told Business Observer.

He declined to reveal the total investment going into it. Odel and the apparel business contribute 12% to the Softlogic Group’s turnover.

“As a group, we own the largest portfolio of international fashion and lifestyle brands in Sri Lanka, and we believe that Odel stores must be representative of our unique positioning. Our focus therefore, is on larger, better-designed department stores in key locations with complementing facilities like Burger King.”

He said, “We are the biggest fashion retailer in the country and we have been expanding our existing outlets in order to get closer to the customers with more products and space. However, we move slowly; we need to see results and watch the market.” The next two stores lined up for improvements are in Moratura and Kandy.

“We look at the expansion programs depending on market growth.” Although the retail industry all over the world has seen a setback, Pathirage says, it is the time to expand the business – expecting the cyclical business to grow as personal incomes and affordability increase over the next few years. Part of the Group’s earnings comes through the tourism industry. “We are optimistic about the growing numbers of tourists to the country as our clientele consists of both locals and tourists,” Pathirage says.

Tourists to the island flock to Odel stores looking for international brands including clothing and sportswear brands such as Nike, Levi’s, Giordano, Puma, US Polo, Pepe Jeans and Disney; wrist watch brands like Michael Kors, DKNY, Adidas and Fossil; sunglasses from Prada, Vogue, Rayban, Giorgio Armani and Emporio Armani, and an extensive product range from Mothercare.

The group last week brought together its fashion and lifestyle retailer Odel and food chain Burger King in Wattala to a location with an area of 9,000 square feet.

Odel’s store in Wattala was opened in September 2011.

(CJ)