Laugfs eyes education sector

Expansion plans for all 18 companies:

Sanjeevi Jayasuriya

Laugfs Holdings will diversify into the education sector in the phase of tremendous opportunities in higher education. “We will be consolidating our presence in the Sri Lankan market and will be entering the education sector in the near future, Laugfs Holdings Chairman W.K. Wegapitiya told Daily News Business.

“Our brand has been well accepted by local consumers and we have already entered markets in the USA, Europe and Canada in exporting tyres. We will first look at the regional level and then go beyond,” he said.

The Brand Annual published by LMD has named Laugfs as the leader in the emerging brand category of new brigade by the international brand rating agency Brand Finance.

It also has secured 38th position in the most top valuable brands in the country with brand valuation of Rs 299 million together with AA+ ranking tag. The magazine also has rated Laugfs enterprise value as to Rs 2,634 million which is 27 percent as percentage with brand and enterprise ratio.

This shows the impact of Laugfs brand in the market pushing country’s corporate brands into new heights. This achievement is a boost to our image and it is in keeping with our vision to become a household name in diversified market segments. We have achieved equal status as international brands winning this award knowing the industry fundamentals. This will ensure strengthening our position in the corporate sector and strive to position Laugfs as an international brand in future,” he said.

The company has expansion plans for all 18 companies and is working towards finalising them in the coming months.

It is the only private sector player in the country’s gas industry and view the competition from Litro Gas as friendly competition.

“We will be working together and there is friendly competition. We have gained equal recognition. We will be sharing infrastructure such as terminals for mutual benefit to sustain the growth momentum,” Wegapitiya said.