Odel Sri Lanka
One of the successful business organization in Sri Lanka. It started on 31st October 1990 as private limited liability company and foundered by 48 years old Ms Otara Del Gunawardane.20 years later, they registered their company as public limited company on 24th February 2010. They always try to give quality products to customers. By today they became pioneer of the fashion industry because their profits are increasing day by day.
History of ODEL
Very first ODEL store started at Dickmans Road Colombo on 1990. When shopping complex called Majestic City started ODEL established their first branch at Majestic City on 1995. In 2004 they became a new logo and started an international superstore. Another huge step is they started store at Bandaranayke International Airport Katunayake .After 2007-2011, can identify golden era of ODEL because their profits are increasing day by day. As a result they opened more than 10 outlets in popular cities. Such as Wattala, Moratuwa, Kandy, Kiribathgoda, Ja-Ela, etc.
Vision & Mission
Their vision is to inspire the world. Mission of ODEL is to provide a complete Mind Body and Soul experience with an unparalleled selection of fashion right and lifestyle product in an environment that is enjoyable and welcoming.
They want to become leading fashion industry in Sri Lanka and they try to quality products with good price. Also they try to increase customer satisfaction & loyalty and increase their profits.
Their main products are ladies wear, men wear, kids wear, and home ware. Others can identified delight- sweet indulgences from chocolates to exotics nuts, perfumes, cosmetics, books, music, shoes, handbags, jewellery & accessories, luggages, foods, stationery, gift wrap & souvenirs. “Live & Kicking”, ”Embark” are their few famous brands. Services
ODEL has fully trained staff members to give their maximum support to customer. ODEL customers can keep their bags on under the security. Customers can wrap their gift different ways to give those gifts an extra delight with trained gift wrappers. ODEL has tailoring services. If customer need adjust the measurement of his cloths, they have trained helpers and machines. Another thing is they shipping products, ”You shop we ship”. So customer cans online shopping. They created ODEL application for the customers. Other services are Dialog services, children’s play areas and Currency exchange services.
Growth of ODEL
They started their business with 2 staff members. But at present they have more than 430 employs. They also provide indirect employment of more than 500. ODEL connected with more than 1000 suppliers and more than 300 factories. Their product contains more than 1,500 different items, with 70% of items sourced locally. ODEL involve in wholesale export of garments to countries such as Middle East, Maldives and Europe.
Revenue of ODEL
ODEL sales up 15% in 2011-2012 and ODEL sales up 16% 2012-2013. Their annual Profits 142 million. They offers share to the public. Sales at ODEL crossed a milestone 2 billion in the first 6 months of 2012-2013 to reach 2.1 billion at end of September. Parkson Retail Asia to buy 41.8% stake for 1.424
Organizational structure of ODEL
They organized their employees into layers. Employees have the most authority. 5 Directors & 9 senior management team. MR Ruchi Gunawardene-(Chairman), MS Otara Gunawardene-(Executive Director/CEO), MR Paul Topping – (Non-Executive Independent Director), MR Eardley Perera (Non-Executive Independent Director). ODEL has good connection between employees and management also good communication. They always take right decisions at right time.
Success factors of ODEL
They have ability to identify the exact needs of the customers. Then they product their goods to customers. Right commitment for the progress, the real interest in the business and having the right mix at the right time