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Thursday, 6 June 2013 00:41 - - {{hitsCtrl.values.hits}}
The Dubai based souvenirs and handicraft multinational Fakih Collection – a leading global souvenir firm, is increasing its direct sourcing from Sri Lanka. “Made in Sri Lanka handicrafts are beginning to make an impression among our buyers in Dubai’s Jumeira Shopping mall and Karama Market, and also in several Qatari, Bahrain and Abudhabi malls. We have already expanded our Sri Lankan craft-making supply chain to 2000 households,” said Dubai based US$ 345 million (Y 2012) Fakih Group Managing Director N.P Fakih recently in Colombo.
Fakih is in town to identify new handicraft supply sources from Sri Lanka as well as to inspect his firm’s on-going souvenir and handicraft making in Kandy and Elpitiya. “We are now hunting for additional other villages who can supply us. ‘Made in Sri Lanka’ eco-friendly souvenirs are a hit in Dubai’s Jumeira Shopping mall, Karama Market, and also in several Qatar, Bahrain and Abudhabi malls. I am happy to say that on average, we are now buying almost US$ 200,000 valued items from Sri Lanka on monthly basis. The two main international markets buying Lankan handicrafts are Vietnam and the Middle East.
Middle Eastern shoppers snap up most souvenir types made in Sri Lanka including wood based items while Vietnam market mostly prefers paper and newspaper based items – such as our eco-friendly pencils made from newspapers.
We have already expanded our Sri Lankan supply chain to 2,000 craft-making households – 200 are making paper products, 500 families in palm and similar grass based (or strong ‘Iluk’ leaves) products, 200 in bamboo products and 1,100 families doing part assembly of eco-friendly handy crafts. Most households are earning around Rs. 20,000 per month by supplying to us,” said Fakih, and added: “In March 2013, Fakih Group was certified as our Sri Lankan product line will be a prime attraction in my up-coming US$ 85 million showpiece to be constructed at Street 19 in the vicinity of Times Square in Dubai. This 175,000 sq. ft. huge showroom to be completed by 2014 end, will showcase souvenirs coming to us from various international locations.
The biggest three sections have been allocated to Thailand, Sri Lanka and Vietnam. We have already allocated sub-sections 29, 92 and 101 exclusively for Sri Lanka with a total area of 18,000 sq. ft.”
Fakih Group employs 6,700 employees across 14 countries including Sri Lanka (a considerable number of them being women in households on a self-employment basis) supplying to the growing demand volumes in their 28 international markets. The Group uses kiosk vending model and runs 28 kiosks in Dubai alone. Among the 6,700 employees are 3,850 handicraft creators (craftsmen). Among the countries supplying the more than 290,000 items strong Fakih Group multicultural gifts and souvenirs portfolio are Sri Lanka (722 items), UAE (467 items), Philippines (3,600 items), Thailand (22,467 items), Vietnam (11,359 items), Turkey (1,310 items), Morocco (12,290 items), Nepal (2,315 items), Cambodia (1,310 items), African collection (3,590 items), Indonesia (11,274 items), India (55,924 items), Egypt (1,936 items), Yemen (3,600 items) and China (160,128 items).
“My target is to increase the current 722 items from Sri Lanka to 5,000 items in the next three years. Our Group turnover has grown to US$ 345 million (Y ‘12) from US$ 300 million in 2011” Fakih added.
