|Wednesday, 8 December 2004|
Damro targets Rs.1b sales revenue in India in 2005
by Channa Kasturisinghe
Damro passed another milestone recently in its international sphere opening its 25th branch in India expanding its branch network to the commercial hub Bombay. Having entered the local market seventeen years ago catering to low cost plastic furniture demand, Damro has today emerged as one of the largest furniture manufacturers in the South Asian region.
This vibrant Sri Lankan Company has now increased its product range to cater to the demands of customers internationally offering them more sophisticated products for office and domestic use. Damro's General Manager - Exports - Eranda Vidanage told the Daily News that the company has achieved a 50% growth rate during last four years of business in India and is now on its way to achieve a sales revenue of one billion rupees from the showroom network there in 2005.
Damro's objective is to maintain the same pace in growth rate in the next three years further strengthening its dealer network of over 300 main Indian dealers. He said that the present growth rate in the Indian market will enable Damro to cover the total Indian market in 2006.
Damro's plans to capture the Indian market has been made easier by the support given by the Sri Lankan Government allowing the company to export Sri Lankan products duty free to India under the Indo-Sri Lanka Free Trade Agreement. The first ever overseas showroom of Damro was set up on October 2, 2000 in India.
At present Damro has a workforce of over 100 employees only in India. Among the key cities where Damro branches have been opened in India are Culcutta, Calicut, Chennai, Cochin, Coimbatore, Trichy and Goa.
The factory complexes of Damro have spread over 110 acres of land covering a total factory floor area of 1.2 million square feet at Nittambuwa, Dambadeniya, Urapola and Avissawella. Damro manufactures a wide comprehensive range of office and household furniture creating thousands of employment opportunities. The state of the art factories are equipped with modern hi-tech machineries.
Damro is fast moving to other household items such as washing machines. It is the only company to produce washing machines in Sri Lanka and the company expects to launch them in India soon.
Produced by Lake House