Written by – Siyathma at OmeBiz
There is no doubt that everyone in Sri Lanka knows about Softlogic, from their catchy jingle to their retail outlets and many more services. With Mr. Ashok Pathirage leading the company into booming success, Softlogic has evolved to become one of the largest conglomerates in Sri Lanka where they have diversified into sectors such as healthcare, retail, financial services, ICT, automobile and leisure.
In 2014, Softlogic bought over ODEL’s shares from the founding members; Otara, Ajith and Ruchi Gunewardena, this helped further strengthen their retail sector. Softlogic holds the distributorship for leading international brands such as Nike, Charles & Keith, Mango, Aldo, Michael Kors and many more which are sold in ODEL and a selected few brands in Galleria.
Towards the end of August, Softlogic Group acquired over Cotton Collection, diversifying their retail sector once more. Ms. Esufally Anverally, the founder and creator of Cotton Collection still maintains ownership of her alternate brand Leather Collection. This acquisition places the Softlogic Group a step ahead in their journey of becoming Sri Lanka’s largest fashion and lifestyle retailer.
Softlogic’s next move is the ODEL Mall which is expected to be completed by 2020. Hatton National Bank partnered with ODEL to carry out the syndication of Rs. 5.4 Billion for the expansion. ODEL already being one of the main tourist attractions in Colombo, would move onto the next level with this expansion. Besides having an outstanding shopping location there are spa facilities, multiplex cinema, restaurants and premium apartments.
Sri Lanka has lost out from gaining more income from tourism than they could have due to the lack of upscale shopping and recreational activities in Colombo. The launch of ODEL Mall would be the answer to this problem!
In order to open up an ODEL Department store, they have also partnered with ‘Colombo City Centre’ and the mall at ‘One Galle Face’ for a retail space. Softlogic is truly taking Sri Lanka’s retail sector by storm, by taking the retail market to the next level and becoming the largest fashion and lifestyle retailer.