27. Textured Jersey
Texured Jersey enters the Business Today TOP 30 for the first time at number 27.
The only company from the apparel industry in Sri Lanka to be listed on the Colombo Stock Exchange, the two major shareholders of Textured Jersey are Pacific Textiles and Brandix Lanka.
The apparel industry in Sri Lanka is the major driver of the economy. However, companies in this sector have always silently but steadily expanded and performed bringing-in much revenue for the country. They have not only made their mark in Sri Lanka but are also based in other countries making the industry truly global. The apparel sector is the largest employment provider in Sri Lanka and has also been pivotal in providing human resources and expertise to other parts of the world as well.
Textured Jersey, under the helm of Brandix Lanka has performed well to become a leader in the industry.
The dynamic and strategic direction of Ashroff Omar, CEO, Brandix Lanka and Director Textured Jersey has enabled the Groups to create value, innovate, expand and deliver sustainable growth. Ashroff Omar is a business leader who has driven the Sri Lankan apparel industry to establish a global presence. He was key to the fomation of JAAF and was its founding chairman. Brandix has been the pioneer of the concept of ‘total solutions' in the apparel sector and has established itself not only in Sri Lanka but in other markets, especially in India.
It is one of the first companies to have such a footprint in the subcontinent.
The Omar family has been pivotal to the apparel industry in Sri Lanka, their unassuming nature but strong leadership has ensured that the industry and their companies remain relevant and stable while facing intense competition. The Business Today TOP 30 becomes complete with the entrance of Textured Jersey, which represents the apparel sector.
Textured Jersey made two significant strategic acquisitions during the year; Ocean India and Quenby Lanka Prints, which would provide the infrastructure to double capacity as well as provide greater customized solutions that will result in an overall increase in the customer base. While exports to the EU declined during the year, exports to the US increased. Thus, the Company remained resilient to external and internal pressures.
The year also saw Textured Jersey diversify its brand portfolio, which meant that with the increased number of brands there was better balance and reduced risks.
The apparel industry will continue to be the driving force of the private sector and it is prudent to say that Sri Lanka needs to see more companies such as Textured Jersey and Brandix coming to the forefront with a positive approach.