Softlogic clinches Mothercare franchise
28 November 2012 03:07 am
Founder and Chairman of Softlogic Group, Ashok Pathirage alongside International Operations Manager, Mothercare and Early Learning Center, Marianne Green Pic by Pradeep Dilrukshana
Plans to invest Rs.200mn in mini department store
International baby-product retailer Mothercare, opened its first store in Sri Lanka through a franchise partnership agreement with Softlogic group this week.
Softlogic group invested approximately Rs.200 million into the franchise agreement and retail space, according to Founder and Chairman of Softlogic Group, Ashok Pathirage.
The flagship store consists of two floors of selling space located at R.A. De Mel Mawatha, Colombo 5 offers a range of choice in maternity fashion and clothing for 0-8 years including other accessories such as pushchairs, car seats, highchairs and toys.
Mothercare is a global brand with over 1,300 stores in 59 countries offering a wide range of maternity and children’s clothing, furniture, home furnishings, bedding, feeding and bathing equipment. The franchise also specializes in providing advice to new parents on childcare products.
The store will also include an Early Learning Center, a specialist toy shop dedicated to stimulate creativity among children.
Softlogic will also be opening a new mini-department store within the next week according to Softlogic Group Chairman Ashok Pathirage.
“This is an important moment in our retail journey as part of our goal of bringing in fantastic brands. However, we are not stopping here. We are testing the concept of the department store in Sri Lanka and we will be opening our own mini-department store in Colombo next week.”
“The store will comprise of multiple premium brands in each category including clothing, electronics, watches and perfumes. The investment will be similar to the one we put into Mothercare at around Rs.200 million,” Pathirage said.
He was of the view that with increases in per capita income in Sri Lanka, demand for premium products would likely see a parallel increase. “Affordability of our products will rise as income levels continue to improve and that is why we are aiming to take an early position in the economy,” he noted.
Softlogic is a diversified conglomerate operating across multiple sectors including retail, healthcare, ICT, Leisure, Automobile and Financial Services. The group’s brand portfolio includes brands such as Levi’s, Nike, Mango, Giodarno, Xerox, Panasonic and Samsung.