Leading logistical services provider Expolanka Freight (Pvt) Ltd celebrated its 35th anniversary on 22 March. The company marked the milestone with a reaffirmed commitment to its core mission and values, with a strengthened focus on Asia’s flourishing fast fashion market.
Since 1982, Expolanka Freight (EFL) has set itself on par with international contemporaries by focusing on consistently delivering flexible and customized solutions to complex and time-constrained logistical needs. EFL specializes in fashion logistics services and has serviced the country’s booming apparel industry alongside many of the world’s top clothing brands. The company offers solutions for freight management, logistics and distribution and has been at the forefront of investing in infrastructure and technology to meet the growing demands.
EFL thrives when it comes to establishing its presence in regions with weak infrastructure, operating in countries such as Cambodia, Myanmar and Africa to deliver speed to market solutions for buyers in the US and Europe. Last year, EFL lobbied and successfully handled the first cross border shipment under BBIN from Bangladesh to India and went live on the GT Nexus platform for enhanced visibility and collaborative opportunities in the supply chain.
In Sri Lanka, EFL operates the country’s first and only LEED Gold awarded warehouse and was the first logistics company in Asia to be awarded a Carbon Neutral Certification in 2012. The company also opened a solar power plant in Wellampitiya to deliver on a sustained commitment to renewable energy and was awarded a National Business Excellence Award in November 2016 for its exceptional performance in the Logistics and Transport sector.
Founder & President Hanif Yusoof said that the anniversary was an opportunity to reassess the company’s global presence as a freight and logistics solutions provider, especially in the face of a global realignment towards Asia as the hub of business activity. “This was a good time to take stock of our performance so far, to really evaluate what it means to be a logistics service provider in a very competitive business environment,” he said. “We have focused our business and core strengths on fast fashion, and really minimising lead times to ensure that deliveries are made from warehouse to door in no time. We strongly believe that this is the future of logistics.”
EFL’s expertise in fashion logistics will drive the company’s core business to cater to the thriving fast fashion markets in Asia. Major fashion brands are entering high-value retail markets in China, Hong Kong and India-countries in which EFL already has a presence. The global fashion industry’s biggest names are EFL clients faithful to the company’s on time deliveries and direct to store forwarding capabilities enriched by the expertise of resident fashion retail specialists and a host of value addition facilities. Now, the focus is on expanding the company’s market share in China, South Asia and the US, notes Mr Yusoof.
Last year EFL recorded a year on year growth of 15% in revenue at Rs 13.7 billion in the second quarter. The gross profit margin also grew to 18.7% from 17.5%.
The company has made significant strides in transforming from a freight forwarder to a supply chain service provider offering end to end logistics solutions. In Sri Lanka, EFL now operates from over 500,000 square feet in warehouse space and manages over 1500 vehicles for inland distribution.