Oct 08, Colombo: Fakih Group, a Dubai-based company that specializes in gift, handicraft and antique products has said that the sale of Sri Lankan made products in its key hubs of Dubai and Abu Dhabi has been a great success and the company plans to extend the operations in Vietnam.
The Managing Director of Dubai based US$300 million Fakih Group has said that the Sri Lankan made products are selling out fast in its showrooms.
"Our Group's Sri Lankan made supplies are selling out in our Dubai showroom, and Abu Dhabi's sprawling tourist club area fast. I am now preparing to send the first shipment of Sri Lankan supplies to Viet Nam this week," the Managing Director N.P Fakih has said.
Explaining further the Managing Director has said that his company started the Sri Lanka production at village level and in cottage level with 180 households in Kandy area with only recycled newspaper but now have handicrafts from different kinds of raw materials such as wood, stone, seashells and cloth.
According to MD, the company currently employs over 700 village families in their cottage manufacturing units in Uda Peradeniya.
Revealing future plans Fakih has said that the company will start with a small investment and the group needs land and skilled workers.
"Initially we will start by a few handicrafts with an investment of US$ 3 million but later we want to expand. We do not want expensive raw material or money from Sri Lanka. We are now looking for land and skilled handicraft makers. Land is needed for our expansion," Fakih has noted.
According to the Managing Director Sri Lankan handicrafts and souvenirs have received the attention of Middle Eastern and European Union tourists and functional items from Sri Lanka have been sold mostly.
"Most sales are seen on functional items from Sri Lanka and not mere beauty items alone. Items such as decorated pencils, beatified hot pot table mats are readily taken by EU and ME tourists," he has said.
He has added that the hot selling items have a low price tag since the company keeps only an 18 percent profit margin.
Fakih Group is a unique global player in gifts and souvenir sector known for items with multinational cultural identities.