F J Benjamin inks Sri Lanka franchise for RAOUL

It'll be for an initial five years.

According to a release, RAOUL has inked a franchise agreement in Sri Lanka, the second this year after a similar deal in China in May this year.

The franchisee, Sri Lankan-based White Lotus Fashions (Private) Ltd, will open the first standalone RAOUL store in Colombo in December 2013 to be housed in a refurbished colonial project in the heart of the city.

White Lotus Fashions is owned by Sri Lankan entrepreneur Rayynor Silva who is the Chairman of Asia Broadcasting Corporation Private Limited, which operates the country’s leading radio stations Gold FM, Sun FM, Hiru FM, Sooriyan FM and Shaa Fm, and operates the country’s first ever Digital Ready/HD Ready television channel Hiru TV.

He also has interests in hotels through his holdings in listed Citrus Leisure PLC and property through Skyline Pacific Real Estate (Private) Limited.

The RAOUL franchise is for an initial five years, with an option to renew for another three years subject to compliances.

Douglas Benjamin, Chief Operating Officer of FJ Benjamin Holdings, said:

“This is our second franchise deal in two months and is a testament to the growing appeal of the RAOUL brand in international markets. We are delighted that White Lotus Fashions is so passionate about RAOUL and we know that they will do the brand proud.

“RAOUL is entering the Sri Lankan market at a time when the country’s economy is poised for further growth following the end of a three-decade war.

This franchise agreement will give RAOUL first mover advantage in a country where the market for luxury fashion is still at a nascent stage with very few quality brands available for the discerning, fashion conscious shopper.”

Dr Dilini Silva, Managing Director of White Lotus Fashions, said: “We are excited to enter into this franchise relationship with RAOUL in Sri Lanka and we look forward to establishing RAOUL as a leading luxury fashion brand in Sri Lanka.

“We believe in the potential of RAOUL. It is one of the few Asian labels which is being noticed in the fashion capitals of the world. Its impressive range of products, with their creative use of fabric, colour and style, will surely appeal to the fashion forward elite in Sri Lanka.”

Dr Silva holds a Doctorate in Business from Australia and a Chartered Marketer qualification from the United Kingdom. In May this year, FJ Benjamin signed a franchise agreement with Chongqingbased Budy (Chongqing) Import & Export Trading Co to set up RAOUL stores in China from mid-September.