Record-breaking Earnings Expected From Hela Clothing In The Following Year 
Posted 29,November

By Chaveendra Dunuwille

In Local News

Listen to the Article

 894 views

With clients such as Calvin Klein and Tommy Hilfinger, Hela Clothing has elevated Sri Lanka’s apparel industry on the global stage. With a $21.2 million revenue in June and $26.3 million in September, the company plans to close FY22 with a record-breaking performance. 

As the consumer demand in Europe and the US returns to pre-pandemic levels, the company expects profits to increase from $4.6 million to over $8 million in FY22. Furthermore, the revenue for FY22 is expected to grow from $171 million to $270 million. 

Hela clothing is ready to be listed on the Colombo Stock Exchange and plans to raise $20 million (approx. LKR 4 billion) via an Initial Public Offering (IPO). The company plans to use $5 million from its IPO earnings to invest in securing its fabric supply chain and upgrade company productivity. The company also plans to implement an agile Enterprise Resource Planning across Group Operations. 

Hela Clothing represents 20% of Kenya’s apparel export and plans to become Egypt’s largest intimates’ exporter by 2024. With several key investments, Hela Clothing’s African operations are expected to overtake Sri Lanka and help the company generate an estimated revenue of $300 million in FY23.