During the 1Q ending 31st March 2016 “Laksala” reported an earning of Rs.232.6 million, which is a growth of 12 percent YoY.
The State owned Laksala was established under the National Crafts Council and Allied Institutions Act of 1982. Today Laksala operates 14 showrooms / branches located island-wide. As a novel concept, Laksala has recently finalized arrangements to convert its showrooms in Colombo 7 Racecourse Promenade and Katubedda to offer a wider range of exclusive handloom products with attractive price points.
According to the Minister of Industries and Commerce Rishard Bathiudeen, the continued support will be extended by them for the craft SMEs and craft-personnel giving them the best prices that Laksala could. “With tourist arrivals targeted at two million, I believe Laksala can achieve a target of over Rs.1 billion in 2016,” added Minister Bathiudeen.
Laksala has allocated 43 percent of its first quarter’s sales to pay the suppliers at Rs.102 million. This is a 217 percent increase in payments to supplier’s compared to 2015’s first quarter. In the last quarter of 2015 (October to December) Laksala achieved Rs.196.7 million, which is a significant growth of 18 percent when comparing the two quarters. Laksala expects to continue its special promotional campaign to coincide with upcoming Vesak, Ramazan, Hadji, Deepawali, and Christmas.
