P G Martin to venture overseas with Rs 100m investment

Shirajiv SIRIMANE

P G Martin Ltd, one of Sri Lanka’s oldest and pioneering leather goods manufacturing companies, will set up a baggage manufacturing plant in Horana with foreign collaboration next year.

The company hopes to invest over Rs 100 million for this venture.

P G Martin Luggage Collection Chairman and Managing Director, P G Lalith Nimalasiri and an employee with a customer at the Havelock Town showroom displaying a bag to one of the customers. Picture by Saliya Rupasinghe

P G Martin Luggage Collection Chairman and Managing Director, P G Lalith Nimalasiri said they are looking at a foreign partner for this operation mainly to gain technical knowhow.

He disclosed plans of taking the PG Martin bag international and said most of the products at the proposed Horana factory would be under the brand name PG Martin.

P G Martin will also offer a three year warranty to all their products that will carry the label Made in Sri Lanka.

“We may also look at manufacturing other products under franchise.”

P G Martin Industries manufactures leather products such as leather bags to be sold locally and for exports. P.G. Martin Imports and Exports are sole agents for Samsonite, American Tourister, Antler, Carlton, President China, US Polo Products and many more Chinese products.

He said their main objective is to export and they are initially looking at the Gulf and the Australian market. “With permanent peace, Sri Lanka is also repositioning itself as a major up market tourist destination and hence locally too we see an opening in this area,” he said.

He said they will import machines from China and also get around 20 technicians from both China and India to train the staff. ``Initially we are looking at a value addition of over 50 percent and hope to take this to around 90 percent in one year.”

The project to be conducted as a BOI venture will provide over 100 employment opportunities.

He said one of the main reasons for them to go in for a manufacturing plant was the 140 percent duty imposed on imported bags.

“We expect the margins to be higher when we manufacture locally,” he added.