Hayleys Electronics gears for growth in tough conditions

Hayleys Electronics, one of Sri Lanka’s biggest consumer electronics businesses, recently invited its key business partners to an event hosted by Hayleys’ Chairman Sunil Mendis to focus on new areas of growth, and maximizing the potential for the prestigious brands marketed by the company in the face of anticipated continued adverse market conditions.

Addressing key business partners at the headoffice of Hayleys, the company’s new head Rizvi Zaheed said Hayleys Electronics would continue to take advantage of its strong island-wide dealer and service networks as the central drivers of its business, but would also look at new innovative ways to stimulate growth.

Conceding that the general economic downturn in the country had over the past few months retarded growth of the consumer electronics market, Mr. Zaheed said his company nevertheless remained positive about its future outlook. "Hayleys is a growing business, and the brands we represent continue to occupy top-of-the-mind status among consumers," he said. "Changes to emphasis within the existing Brand Portfolio may however, be necessary to suit changing demand patterns."

Mr. Zaheed who succeeds Sujiva Dewaraja as the Hayleys Group Management Committee Member overseeing Hayleys Electronics, has been with the Hayleys Group for more than 20 years. He has served in the group’s long range planning unit/Human Resources Division and also heads Haychem, a local market leader in Agrochemical and Household Hygiene Products.

Introducing Mr. Zaheed as one of his long-standing colleagues to dealers at a cocktail and dinner, Hayleys Electronics’ outgoing Managing Director Sujiva Dewaraja said the measures being taken by the company to meet the challenges of a slowing economy would enable it to forge ahead and remain one of the top players in its sector by being better equipped than the competition to deal with the current environment and immediate future.

Hayleys Electronics is the sole agent in Sri Lanka for the international consumer electronics and lighting products giant Philips of the Netherlands and for Daewoo electronics, Usha and Daytron.