The first day’s turnover of the latest Lanka Sathosa outlet exceeds Rs 600,000 and Sri Lanka’s largest state-owned retail chain is now aiming at 500 outlets, as per its expansion plan.
“Lanka Sathosa now employs more than 3500” Minister of Industry and Commerce Rishard Bathiudeen said last week. The minister was addressing the opening event of 325th Lanka Sathosa outlet in Muthur.
“Lanka Sathosa under my Ministry is the state-owned large scale retail business in Sri Lanka. We have 3500 employees under it with an annual turnover of Rs. 30 billion,” said Bathiudeen and added: On its first day in action, Mutur’s Lanka Sathosa outlet recorded a turnover of Rs 611,000 catering to almost 1000 consumers who patronised it.
Market studies reveal Lanka Sathosa is mostly used by households whose income is Rs 30,000 and below – 60% of Sri Lanka’s population.