The Lankan expat community should help Sri Lanka at this crucial time by focusing on buying local brands and supporting the economy to emerge from the current crisis, the CEO and founder of clothing brand GFlock says, Ranil Willadarage at a recent press conference in Colombo. .

“My humble appeal to our expat community is to help local entrepreneurs start businesses and bring much-needed currency to the country. I ask them to allocate their clothing budget on Gflock and place orders through the global online store,” said Willadarage.

Most Sri Lankan expats buy their clothes from brands such as Zara, Mango, Myer, Uniqlo, H&M and Shein. Most of these brands are based in Europe and other developed countries in the Asia-Pacific region.

Sri Lankans living in the United States, Canada, Australia and Europe spend on average between $300 and $500 for their annual clothing budget on the aforementioned foreign brands, he said, adding that he was ready to offer 51% of the company’s shares in Sri Lanka. lankan public in 2025.

By implementing this model combined with this expected income, we will be able to create new jobs across the country and provide them with adequate wages while contributing to the families of these employees with monthly packets of rice and dry rations. to further enhance their quality of life and help overcome poverty.

“By this, we are creating a strong public movement that can save the whole country,” Willadarage said.

“We know that a fashion business is a business that can generate a lot of revenue. If we take Zara, another brand with a fast fashion business model like ours, their annual turnover is between 20 and 25 billion dollars. H&M also has a similar turnover. The company we need to focus on here is the Shein brand. What is very different here is that Shein has no physical physical store and only operates as an online platform.

Founded 14 years ago in Nanjing, China, they now ship to over 220 countries. With highly competitive pricing and its online-only B2C model, Shein’s annual revenue is now $15 billion.

Another specialty here is that with the arrival of the pandemic, their annual revenues have increased exponentially in three years and revenues from $3.5 billion in 2019 have increased to $15.7 billion in 2021.

“So imagine the potential of that, if a fast fashion company can reach $12 billion in annual revenue in three years, that’s where we should find inspiration. We believe Gflock’s business model can reach l goal of $5 billion in annual revenue over the next five to seven years.

“We can easily compete with Shein because they follow an ideal called ‘disposable fast fashion.’ the concept of circularity of merit in our business model which I have already explained.

“With these two competitive advantages, I believe we can achieve better achievements than Shein. I firmly believe that with the help of Sri Lankan expatriates in 5-7 years, it will be possible to reach an annual income of 5 billion dollars. Gflock’s business model is set up in such a way that it can be expanded as needed, I am confident that my team and I have the specialist knowledge, experience, honesty, drive, determination and discipline to do this .

“Not only that, if you can be a brand ambassador for this company, promote the goal of saving our country to at least 5 other natives of your country and get them to buy clothes from us. If this can be achieved, we can get rid of oil and gas queues, medicine shortages and food shortages and bring the country back to normal sooner than we think,” said Willadarage.

“I also call on brand owners to provide some relief to improve the living standards of low-income families in these difficult times,” said the young entrepreneur.

“I’m confident that with your support, this goal can be 100% achieved and we can save our country together. If anyone wants to stand up and say it can’t be done, I’m ready to step up. the challenge and to prove that it is indeed achievable,” he said.

Gflock, is a creativity-based fast fashion company that designs, produces and sells ready-to-wear clothing to a wide range of customers.

While most brands around the world design and produce clothing based on the four main seasons, GFlock releases 40-50 new designs every week, categorized into the departments of casual wear, work wear, evening wear, men’s wear, linen and denim.