Singer Sri Lanka has been awarded the Most Innovative Retail Concept Award for 2023/2024 by the Federation of Asia-Pacific Retailers Association (FAPRA). This recognition highlights the company’s exceptional ability to navigate economic challenges and innovate within a rapidly changing retail environment.
The award reflects Singer’s leadership in transforming the retail landscape through a strategic vision that effectively addresses both immediate and long-term industry challenges. By focusing on innovation and demonstrating a strong commitment to its employees and customers, Singer has established itself as one of the most trusted brands in Sri Lanka.
In response to numerous recent challenges, Singer implemented a Renewal Model that departed from its previously established growth plan. This strategy prioritized cost optimization, improved cash flow, and ensured short-term sustainability, which were critical for the company’s survival during uncertain times. The transition from expansion to consolidation enabled Singer to maintain operational resilience while continuing to provide essential products and services to households across Sri Lanka.
Mahesh Wijewardene, CEO of Singer Sri Lanka, remarked, “Our renewal strategy was not merely a survival tactic but a proactive approach aimed at ensuring long-term success. We recognized the need to adapt swiftly to maintain resilience, and this award stands as a testament to our commitment to innovation, agility, and, most importantly, our customers. We are truly honored to receive this recognition, which validates the hard work and dedication of our entire team.”
Despite recent challenges, Singer maintained a strong market presence, ensuring customers had access to a wide range of products. The company’s digital transformation efforts accelerated, enhancing the shopping experience on its e-commerce platform, singer.lk.
As Singer Sri Lanka looks toward the future, the Renewal Model will serve as the foundation of its growth strategy, solidifying the company’s role as a pioneering force in the Sri Lankan retail sector. With a commitment to innovation, operational excellence, and customer satisfaction, Singer is well-positioned for ongoing success and dedicated to empowering the lives of Sri Lankans through accessible and affordable technology. The award further cements Singer’s status as a leader in the retail industry, showcasing that even in uncertain times, the company’s dedication to innovation and its people remains steadfast.