Sri Lanka’s Damro reaches milestone in India by opening 100th store in Kolkata
Sri Lankan furniture manufacturing company Damro has reportedly reached a milestone in India with the opening of its 100th showroom in Kolkata.
Damro has stated that it had launched its most recent showroom in Kolkata as the seventh showroom in the city to provide enhanced services to one of the most populous cities in India.
Damro has expedited the showroom network expansion process in India and opened four showrooms within the previous week alone and the move is expected to help develop Sri Lanka’s export volume.
The latest additions to the network apart from Kolkata were the eighth showroom in Chennai, the fifth showroom in Hyderabad, and the showroom in Lucknow, achieving the 100th milestone, according to local media reports.
The company has reportedly accomplished a remarkable journey with a widespread showroom network covering over 10 states and also plans to add 50 more showrooms into the Indian operation in 2022.
Damro continues to grow in the Indian furniture market at a rapid pace with the appreciating confidence of valued Indian customers over the brand.
According to reports, the company exports over 2000 forty-foot containers per annum while sourcing 30% of the manufacturing from the factory in Bangalore and the medium-scale holding industries in India.
OSL take:
The steady growth of a Sri Lankan furniture manufacturer is indicative of the strength and growth of Sri Lanka’s private sector. Sri Lanka’s manufacturing and exports sectors have shown a growth momentum despite challenges posed by the Covid 19 pandemic. Also, the many trade agreements as well as concessions enjoyed by the country have helped Sri Lankan businesses to expand to foreign countries. Sri Lanka’s continuously improving ease of doing business environment have helped present a business conducive environment. Given Sri Lanka’s economic expansion and the country’s growth as an emerging business destination in the South Asian region, foreign businesses/investors could confidently explore business/investment opportunities in Sri Lanka or look at forming partnerships/joint ventures with local businesses to engage with other countries in the region.
| Article Code : | VBS/AT/08112021/Z_2 |