Softlogic plans five more supermarkets in Sri Lanka
Saturday August 17, 2019 13:51:00
ECONOMYNEXT – Sri Lanka’s Softlogic Holdings Plc is planning to expand its new Glomark supermarket chain with five more outlets, a top official said.
“We will be opening a Glomark Flagship store in CR&FC, Colombo 07 along with outlets in Mount Lavinia, Negombo, Rajagiriya and Malabe," Chairman Ashok Pathirage said in a statement.
The opening of a ‘Glomark Essential’ store which sells daily groceries in June at the Orion City IT park was delayed till August, he said.
Two ‘Glomark Essentials’ outlets have been opened the group’s Asiri hospitals in Colombo and Kandy, he said.
“Encouraging results of our Delkanda and Kottawa Glomark outlets and Glomark Essential stores in Asiri Hospitals has been convincing to pursue the planned expansions in the supermarket proposition," Pathirage said.
Sri Lanka’s supermarket space is competitive with the market leaders Cargills (388 outlets), Keells (96 outlets) and Arpico (49 Supercentres and daily outlets), according to each firms’ latest annual reports.
Glomark has been a new entrant, together with the competing SPAR brand run by Ceylon Biscuits Limited. (Colombo/ August 17/ 2019)