Sri Lanka’s Lankatiles enters globally-competitive mosaic tiles segment
Lankatiles, which is Sri Lanka’s pioneering wall and floor tile manufacturer, has reportedly announced that it would be entering the globally-competitive mosaic tiles segment.
Accordingly, Lankatiles is to collaborate with a Chinese mosaic tile manufacturer, Foshan Shiwan Yulong Ceramic Co. Ltd., to obtain the technical know-how and subsequently manufacture the tiles in Lankatiles factories in Sri Lanka.
Lankatiles is foraying into manufacturing mosaic tiles for exports to the international markets and North America in particular, which has high demand for mosaic tiles and the latest collaboration also involves North American counterpart – Benjamin Malloy as it would be the key market for this product, local media reports state.
Lanka Walltiles Group Managing Director Mahendra Jayasekera has been quoted as saying, “Lankatiles has been on an aggressive expansion drive over the past few years. Our entry in the mosaic tile category has led us to collaborate with a Chinese mosaic tile manufacturer to gain the necessary expertise to manufacture mosaic tiles in Sri Lanka and to export to North America and other countries. This is an ambitious move by Lankatiles to yet again break new ground by pioneering value added mosaic tile manufacturing in Sri Lanka.”
“This new manufacturing capacity will not only generate valuable employment opportunities but will also add a new dimension to the company’s reputation as a world-class tile manufacturer and fill product gaps in the market. Our agility and willingness to innovate has consistently helped the company reap rewards by way of deepening our footprint in global markets, where Lankatiles is already a respected brand. We foresee immense export opportunity for mosaic tiles to North America and other countries and believe this collaboration will truly help the company unlock its potential,” he has further stated.
Lankatiles is reportedly a well-established brand in North America for over 40 years and the company is familiar with the intricacies of the American market, which will make it easier to target exports of mosaic tiles to specific buyers.
According to reports, the latest tie-up with a Chinese company is an opportunity that has arisen as a result of the US-China trade wars and one which Lankatiles has seized for strategic advantage.
Lankatiles already exports to 12 countries including high quality markets such as USA, Australia, New Zealand, Japan, Canada and certain countries in the European Union, the local media has reported.
OSL take:
The entrance of a Sri Lankan tile company into the globally competitive mosaic tile segment is indicative of the strength and growth of the country’s private sector. It is indicative of the business conducive environment in the country and the ease of doing business environment that have helped thr growth and expansion of local businesses. The many trade agreements as well as trade concessions enjoyed by the country have also helped Sri Lankan businesses. Foreign businesses/investors could explore business opportunities in Sri Lanka and look at the possibility of forming partnerships/joint ventures with local companies to expand businesses in the region.
| Article Code : | VBS/AT/20200113/Z_4 |