Rainco, a stalwart in the umbrella manufacturing industry, has maintained a strong presence for over four decades, evolving from its inception in 1977 to become a global brand while retaining its leadership position in the local market. Dinesh Dharmaratne, Chief Executive of Rainco, discusses the brand’s journey and strategies for growth. Initially focused on umbrella manufacturing, Rainco transitioned to become its flagship brand in 2000, expanding its product range to include mosquito nets and rainwear, solidifying its market position by 2007-2008.
Despite facing challenges during the COVID-19 pandemic and currency depreciation, Rainco achieved exceptional growth through strategic adjustments, leading to double-digit growth across all categories by the end of the last fiscal year. Dharmaratne attributes Rainco’s success to three primary factors: its dedicated team, the strength of its brand, and its robust distribution network. Rainco’s leadership approach emphasizes adaptability and accessibility, prioritizing effective problem-solving and decision-making.
Looking ahead, Rainco aims to balance its ambition of becoming a global brand with maintaining market dominance locally. The company plans to drive innovation to maintain its leadership position in the local market while expanding its global footprint by offering expertise and resources to clients worldwide. Key initiatives include introducing non-seasonal categories, repositioning the Rainco brand, exploring automation opportunities, launching recyclable umbrellas, establishing a new manufacturing facility, and investing in building a world-class internal team. These initiatives are integral to Rainco’s growth strategy, ensuring continued success in both local and global markets.