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Farmasi cosmetics launced in Sri Lanka:
Yaseen’s invests Rs. 200 million
Yaseen’s Computerized Graphics, one of the largest suppliers of
labels to the apparel industry has invested over Rs. 200 million to
diversify to the cosmetic segment.
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Director Marketing, Yaseen’s, Hiran S. B. Wijesinghe Picture
by Shirajiv Sirimane |
Director Marketing, Yaseen’s, Hiran S. B. Wijesinghe said they
diversified to the cosmetic market since they saw an opening for quality
and affordable foreign products.
“With the Sri Lankan living standards on the increase and people
looking for better things in life, we found out after extensive market
study that there is a high demand for high quality cosmetic products.
“This is the reason we tied up with the Turkey Cosmetic manufacturer,
Farmasi to launch their product range in Sri Lanka,” he said.
He said that this reputed company had also received the Euro Cert
certification. In addition the products are also Halal certified which
makes the product more attractive to Sri Lanka.
Farmasi product range includes over 2,000 making the company one of
the biggest cosmetic companies in the world and the products are
exported to more than 116 countries.
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Some of the products to be marketed in Sri Lanka |
He said that they are also looking at the possibility of
manufacturing shampoos and hair gel products in Sri Lanka in partnership
with Farmasi.
“One of the biggest advantages of this would be it would be cost
effective for them and they could also be re-exported to India
exploiting the FTA,” he added. Another advantage is that most of the raw
material such as Alo vera and other herbal products used for the
manufacture of their products are found in Sri Lanka.
Set up in 1946 to manufacture medicine and import chemicals the
Farmasi brand was created in 2003.
The factory covers an area of 40.000 square meters and has over 250
employees.
Today over 350 million people from 118 countries use Farmasi
products. “All processes like producing, filling, labeling, packaging
are being done by fully automated equipment with raw materials coming
from Europe and also Asia.
He said that the Sri Lankan factory would be their first overseas
factory.
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