Ritz Clothing marks new chapter with expansion of Nikaweratiya Factory
Daily FT: Ritz Clothing has recently completed a comprehensive overhaul at its Nikaweratiya Factory with significant investments, increasing capacity from 380 machines to 550 machines, and providing employment opportunities to a further 300 people.
The grand opening of the Nikaweratiya factory was held on 18 November. Officials representing the key brands were present at the event which included Sanmar, Next, Triumph, MGF and Lidl.
As part of its strategic vision, Ritz Clothing has also unveiled plans for the Polpithigama Factory, set to accommodate 2,000 machines with operations slated to commence in July 2024. Magallegama, another forthcoming expansion, will consolidate all intimate wear solutions within one expansive facility.
Rapid expansions in Magallegama, Polpithigama, Alawwa, Humbuluwa, and Yapahuwa underscore the company’s commitment to sustainably growing the scale of its operations. The transformation of Ritz Clothing Yapahuwa and Nikaweratiya, is following the infusion of $ 4.5 million and $ 3 million, respectively, into these endeavors.
Ritz Clothing, a longstanding and respected player in Sri Lanka’s apparel sector, traces its roots back to the visionary initiation of the 200 Factories project of the early 1990s by the late President Ranasinghe Premadasa. At the helm of this dynamic enterprise, Chandrasena Kodikara, has and continues to play a pivotal role in developing factories across the country. Notably, as a visionary businessman and community leader, Kodikara has acquired and revived many factories and value chains, demonstrating his unwavering commitment to the industry.
Founded in 2012 with the acquisition of its inaugural plant in Nikaweratiya, Ritz Clothing’s journey has been one of resilience, driven by an ambitious vision. Kodikara’s leadership, supported by the strategic manoeuvring of Managing Director Punsisi Kodikara, has propelled the organization to remarkable heights. Now comprising six production facilities manned by a team of over 4,500 Humbuluwa individuals, Ritz Clothing stands as an exceptional example of economic empowerment, particularly in rural communities. Risitha Kodikara, who joined the Senior Management team in subsequent years, has spearheaded the new transformation as well.
Ritz Clothing Group CEO Nalin Amarasena said: “Our journey thus far has allowed us to expand our global reach, whilst empowering our local communities. With factories in multiple regions, we’ve accessed new markets, diversified our customer base, and amplified our presence, worldwide. This commitment to global impact and local value creation is underpinned by our production capacity of 3.2 million garments per month, meticulously crafted using the finest materials and most modern machinery. Driven by a quest for quality and excellence, we are working to consistently transcend the norm and deliver outstanding experiences for our customers.”
OSL take:
Sri Lanka’s ongoing economic activities have resulted in an expansion in all key economic sectors in the country including the manufacturing and export sectors. The many trade agreements as well as trade concessions enjoyed by the country have also helped boost Sri Lanka’s manufacturing and export sectors that showed positive movements even amidst challenging economic conditions. The expanding opportunities in the manufacturing industry is evident by the expansion programmers undertaken by many local businesses in the industry. Local authorities are also engaged in carrying out promotional campaigns in foreign markets as well as new markets while encouraging local businesses to expand and diversify the existing product portfolios. Sri Lanka’s geographical positioning in the Indian Ocean is also encouraging for foreign businesses/investors to set up base in the country to do business with the other countries in the region using the trade benefits enjoyed by Sri Lanka. Given the growing business potential in the country, foreign businesses/investors could explore the expanding opportunities in Sri Lanka’s manufacturing and export sectors while also looking at forming partnerships or joint ventures with local businesses with the aim of further expansion.
| Article Code : | VBS/AT/20231220/Z_5 |