Atlas Axillia eyes international units
The Hemas Group company, Atlas Axillia Co. (Pvt) Ltd. having recently launched a new vertical in educational toys and sensory play, has tied up with Disney and is looking at exports into the region and Africa for joint ventures.
The company is looking at several initiatives, and new verticals in the space of education or toys and is also looking at exports. “We want to drive the export business. We currently have had some small victories recently. We’re doing some work for Disney, which is a big win,” Asitha Samaraweera, Managing Director Atlas Axillia told The Sunday Times Business.
He explained that after a lot of deep reflection on Sri Lanka’s educational needs, and how the company can contribute to society while also combining that with a commercial venture it was discussed that early childhood development is an area that is neglected. “A child psychologist was brought on board, and toys were found to help children develop social, development, mindfulness, and emotional control skills. The company plans to expand into more toy categories in phases two, three, and four.”
He noted that in the company’s international business journey, Atlas may even acquire companies or put up an international joint venture. “We’re looking at neighbouring countries. In the game of exports, and international business, you have to have some duty structures where you have favourable duty rates or preferential tariffs, countries that are proximate in terms of freight costs, countries that offer certain spaces where certain products are not available in that market like highly designed products and so on. We look at all these criteria and then we select
the markets. When you go through this finally you realise that it’s the neighbouring
countries, and even places like Africa that provide the most exciting opportunities.”
Mr. Samaraweera noted that in the stationary category, most raw materials are imported and also, since there are no preferential duty rates etc, it’s not as inviting as in some of the categories to set up.
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