Sl’s largest locally owned e-com giant, Kapruka reflects on upcoming IPO
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Mr. Dulith Herath
Ahead of its upcoming initial public offering (IPO), Kapruka, the pioneering e-commerce platform that has evolved into Sri Lanka’s largest locally owned global e-com platform, has reflected on its journey thus far, and the large corporate footprint and client-base it has developed and served throughout the years.
Launched in 2002 as a start-up by founder Dulith Herath, with a capital of less than $1,000, Kapruka has transformed into the largest locally-owned e-commerce company. It is now a multi-billion-rupee enterprise, without any external investors, using a non-marketplace e-commerce model with fully integrated delivery, serving a wide variety of both local and expatriate Sri Lankan clientele.
The company has since been benchmarked and recognised by global giants such as Amazon.com. Being the local e-com ‘master-seller’ in Sri Lanka, Kapruka has also enabled an abundance of aspiring local producers and sellers to sell their products through the site. Kapruka stocks over 135,000+ products, has partnerships with 500+ renowned brands and serves over 1.1 million expatriate clients, the company said in a media release. The company has over 32,000 sq ft of warehouse space and over 100+ delivery vehicles to support its operations.
Kapruka is the pioneer local e-commerce website that has thus far ventured into cross-border exports as it provides a marketplace for premier Sri Lankan brands such as Dilmah, Samahan and Akbar Tea, on global platforms such as Amazon, Etsy, eBay and Walmart. The company also has a wide selection of its very own branded products, from bakery items to floral arrangements and many more. Known for the convenience it offers by accepting all payment methods, including mobile pay and cryptocurrencies, and having some of the most affordable delivery charges, Kapruka.com is notably popular amongst the youth of Sri Lanka. Towards extending its corporate footprint and services to the larger international market through the ‘Kapruka Global Shop Service’, Kapruka has set up global offices in many countries such as the US, UK and Australia, scaling up its operations, while readying itself to enter the next phase of growth, the release said.
Commenting on Kapruka’s extensive corporate footprint, Founder and Chairman, Dulith Herath, stated, “Over the past 19 years Kapruka strived to serve its extensive client-base with the highest quality customer care. Its growth has seen it expand to the larger international market, enabling local vendors to receive exposure to leading foreign chains and clientele. With an integrated set-up that ensures every step of the customer experience – from purchase to delivery – is optimised, Kapruka provides unmatched levels of customer convenience. We look forward to scaling up even further with the Initial Public Offering, allowing the public to invest in our operations, taking our world-class e-commerce platform to the next-level.”
Kapruka aims to raise Rs. 505.5 million to bolster its business potential, through the initial public offering on the Colombo Stock Exchange.
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