Financial Times

The footwear sector has been investing in new technology that has given us a great deal of flexibility in the market. New styles and higher levels of quality have been a key factor in helping achieve market leader status

DSI, the local footwear manufacturer, said last week it expects to triple sales and double investment in the next five years on the back of major corporate restructuring that took place during the last two months.

DSI Samson Group is a diversified holding company and the footwear sector accounts for a turnover of Rs. 2.6 billion with production of 18.5 million pairs of footwear against the last financial year's turnover of Rs. 1.9 billion and 17.2 million pairs.

"The footwear sector has been investing in new technology that has given us a great deal of flexibility in the market. New styles and higher levels of quality have been a key factor in helping us achieve market leader status," DSI cluster Managing Director Mr. Kulathunga Rajapakse said in a statement.

Ranjith Hettiarachchi, Managing Director of DSI’s footwear sector said, “due to the success achieved by the footwear sector in creating new designs, colours and styles, we have become a trendsetter in the market which, in turn, has helped us achieve market leadership status well ahead of schedule." The company says that 3 in 10 Sri Lankans own a DSI branded shoe, slipper or sandal.

The company exports shoes to India and has a store in Chennai. "A pair of shoes can be exported to Chennai from Sri Lanka faster than it can be sent from some states in India itself," said Rajapakse. "Sri Lanka has 18 million people; we produce more than18 million pairs of shoes each year. For us to maintain previous growth volumes we had to look for opportunities outside of Sri Lanka. India was a natural choice. So we tied up with the EDB and opened our first retail outlet in Chennai at Spencer Plaza."