Having been a key contributor to the Sri Lankan economy over the past four decades, the pandemic has underscored the value the apparel industry brings to our island nation. The evolution of our industry from contract manufacturers to total solutions providers has been documented extensively. With a knack for innovation, agile and flexible manufacturing solutions as well as constant focus on sustainable and ethical practices, the Sri Lankan apparel industry has gained confidence and plaudits from some of the biggest global brands in the sector.
Employing nearly 400,000 personnel directly and with indirect employment opportunities created for nearly 800,000 Sri Lankans, the apparel industry continues to be one of the single largest industries contributing to the development of the country. Having weathered the initial year of the pandemic, the industry was able to regain momentum and close 2021 on a high note with revenue reaching pre pandemic levels. Coupled with an aggressive vaccination drive among our facilities and the renewed support of our customers, the industry is now looking ahead to the milestone of USD 8Bn revenue by 2025.
Whilst the emergence of the digital marketplace was deemed the next big thing nearly two decades ago, the impact it has had on global industries far exceeds all expectations. Although the Sri Lankan apparel industry has made some headway in the digital space, it is important that we continue to pursue the options especially in serving start ups and pure play digital brands which will have significant growth potential if the current trends continue.
The pandemic has made all organizations along the supply chain reflect on various aspects of the industry from how our talent is taken care of, to operations and logistics. It has increased the appeal for ethical and sustainable processes and intensified the call for responsibility to the planet and its beings. Having commenced our journey into becoming a sustainable sourcing destination very early and with our reputation for ethical manufacturing practices, Sri Lanka has a significant edge to service customers and meet their renewed expectations whilst delighting them with our craftsmanship and quality.
As always, Sri Lanka apparel looks forward to a bigger, better and brighter future as a total solutions hub to the world.
Sharad Amalean is a co-founder and Board Member of MAS Holdings (Pvt) Ltd.
A former student of Royal College Colombo, Sharad went on to complete his Executive Education at the Wharton School of the University of Pennsylvania.
Having served as the CEO of MAS Holdings, Sharad has now transitioned to a new phase of his corporate journey overlooking Strategic investments and diversification activities of the organization. He is also instrumental in supporting the organization develop the next generation of leaders as the company journeys towards the future.
Sharad’s background in finance makes him a formidable negotiator, strategizer and holistic thinker. A disruptor and an advocate of change, Sharad excels at managing people and resources, and is known for his unique style of coaching and listening. He believes in making informed decisions, is action oriented and excels at follow through. His persistence, attention to detail and ability to foresee opportunity makes him a key driving force in the Sri Lankan Apparel & Textile Industry. Sharad is also a member of the Presidential Task Force on Economic Revival & Poverty Eradication.
A group director of Jafferjee Brothers which is a leading conglomerate in multiple business sectors such Apparel, Tea, Rubber Products, Finance and Power Generation. He has over 25 years business experience in manufacturing and export field and the Managing Director of Lanka Garments Manufacturing Company (Pvt) Ltd a leading manufacturer of girls’ apparel products. He is also the Managing Director of JB Rubber Products, which specializes in moulded and extruded rubber products and Dunsinane Power which operates both Mini-Hydro and Solar power generation ventures.
He is currently the Deputy Chairman of the Joint Apparel Association Forum (JAAF) and the former Chairman of the Sri Lanka Apparel Exporters Association (SLAEA). Prior to this he was also Chairman of the Sri Lanka Association of Manufacturers & Exporters of Rubber Products (SLAMERP) and has served on multiple advisory councils with the Ministry of Industries and Export Development Board.
He holds a Bachelor of Science Degree in Electrical Engineering and Entrepreneurship from the University of Texas at Austin.
Star Garments Ltd
MAS Holdings (Pvt) Ltd
Fascinations Export (Pvt.) Ltd.
Maliban Textiles (Pvt) Ltd.
Star Garments Ltd
Brandix Lanka Ltd
Group Chief Executive Officer
Brandix Lanka Ltd