May 21, 2012 (LBT) – Yaseen’s Computerized Graphics, one of the largest suppliers of labels to the apparel industry has invested over Rs. 200 million to diversify to the cosmetic segment. Director Marketing, Yaseen’s, Hiran S. B. Wijesinghe said they diversified to the cosmetic market since they saw an opening for quality and affordable foreign products. “With the Sri Lankan living standards on the increase and people looking for better things in life, we found out after extensive market study that there is a high demand for high quality cosmetic products. “This is the reason we tied up with the Turkey Cosmetic manufacturer, Farmasi to launch their product range in Sri Lanka,” he said.
He said that this reputed company had also received the Euro Cert certification. In addition the products are also Halal certified which makes the product more attractive to Sri Lanka. Farmasi product range includes over 2,000 making the company one of the biggest cosmetic companies in the world and the products are exported to more than 116 countries.
He said that they are also looking at the possibility of manufacturing shampoos and hair gel products in Sri Lanka in partnership with Farmasi. “One of the biggest advantages of this would be it would be cost effective for them and they could also be re-exported to India exploiting the FTA,” he added. Another advantage is that most of the raw material such as Alo vera and other herbal products used for the manufacture of their products are found in Sri Lanka. Set up in 1946 to manufacture medicine and import chemicals the Farmasi brand was created in 2003.
The factory covers an area of 40.000 square meters and has over 250 employees. Today over 350 million people from 118 countries use Farmasi products. “All processes like producing, filling, labeling, packaging are being done by fully automated equipment with raw materials coming from Europe and also Asia. He said that the Sri Lankan factory would be their first overseas factory.
Link to article: http://www.lbt.lk/news/business/1894-turkish-cosmetics