The loss making Lanka Sathosa would be turned around in six months, said new Chairman Dr Rohantha Atukorale.
He said that the institution is running in the excess of Rs. 30 million monthly loss and this is due to bad planning and positioning.
Dr Atukorale said that within the next three months all outlets will receive a face lift with the basic infrastructure corrected in lighting, freezer facilities and retail staff so that it can ensure that total basket of goods for a housewife can be bought at a Lanka Sathosa outlet.”
The Chairman said that they are also looking at introducing 185 new outlets by the end of the year to make it a 500 outlet institution.
Dr Atukorale said under the previous government there had been a buying spree of consumer goods which were not appealing to the customers of Lanka Sathosa. “In addition the institution also suffered billions of losses due to low quality rice imports sans quality control. “We are still paying for these financial sins, ” he said.
Asked if the Lanka Sathosa was over staffed the chairmkan said it was mainely at the head office. “However we can overcome this by assigning them to the new outlets that would be opened this year, ” he said.
Dr Atukorale who was earlier the Chairman of Sri Lanka Tourism Promotions Bureau said that once these dues are settled they would be in a better financial position. “No rocket science is needed to turn the institution around what you need is to develop the grocery business,” he said.
Sathosa has commanding store equity of 3.4 among the mass market consumer at a trial to retention rate of 67% that no other brand in the market can elucidate.
He said that they would also launch loyalty cards, special bank offers, gift vouchers and several such promotions to woo increase customers to patronize Lanka Sathosa. “We have appointed professionals to bring in new management thinking into the organization and expand the outlets so that we can meet the changing consumer requirements of the Sri Lankan consumer.
Whilst we are increasing the retail outlets we will introduce an internal quality laboratory so that we offer the best,” said Minister of Industry and commerce Rishad Bathuideen. “I want Sathosa to be not only a “price setter in the Sri Lankan retail industry but also the best supermarket chain that offers a value addition to a Sri Lankan household,” the Minister said.
He also assured that a three month stock cover on essential were available at the institution.
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He said that the institution is running in the excess of Rs. 30 million monthly loss and this is due to bad planning and positioning.
Dr Atukorale said that within the next three months all outlets will receive a face lift with the basic infrastructure corrected in lighting, freezer facilities and retail staff so that it can ensure that total basket of goods for a housewife can be bought at a Lanka Sathosa outlet.”
The Chairman said that they are also looking at introducing 185 new outlets by the end of the year to make it a 500 outlet institution.
Dr Atukorale said under the previous government there had been a buying spree of consumer goods which were not appealing to the customers of Lanka Sathosa. “In addition the institution also suffered billions of losses due to low quality rice imports sans quality control. “We are still paying for these financial sins, ” he said.
Asked if the Lanka Sathosa was over staffed the chairmkan said it was mainely at the head office. “However we can overcome this by assigning them to the new outlets that would be opened this year, ” he said.
Dr Atukorale who was earlier the Chairman of Sri Lanka Tourism Promotions Bureau said that once these dues are settled they would be in a better financial position. “No rocket science is needed to turn the institution around what you need is to develop the grocery business,” he said.
Sathosa has commanding store equity of 3.4 among the mass market consumer at a trial to retention rate of 67% that no other brand in the market can elucidate.
He said that they would also launch loyalty cards, special bank offers, gift vouchers and several such promotions to woo increase customers to patronize Lanka Sathosa. “We have appointed professionals to bring in new management thinking into the organization and expand the outlets so that we can meet the changing consumer requirements of the Sri Lankan consumer.
Whilst we are increasing the retail outlets we will introduce an internal quality laboratory so that we offer the best,” said Minister of Industry and commerce Rishad Bathuideen. “I want Sathosa to be not only a “price setter in the Sri Lankan retail industry but also the best supermarket chain that offers a value addition to a Sri Lankan household,” the Minister said.
He also assured that a three month stock cover on essential were available at the institution.
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