Rashmika Peiris
Apparel industry faces uncertainty
Q: How would you describe your connection with Sri Lanka?
A: I’ve been based in Canada on an assignment for a little over two years, and the success achieved to date is a result of my upbringing in Sri Lanka, its culture, the passion to succeed and the profound experience gained over my years with MAS Holdings.
My assignment in Canada is to drive business growth with a strategic partner, which requires connecting with larger teams back home on a daily basis for strategic direction and execution.
This enables me to maintain my connection in a similar capacity to when I was in Sri Lanka.
Q: Can you share any experiences or strategies from your career in strategic marketing that you believe would be particularly effective in the context of the global market?
A: Creating a value proposition for the customer coupled with timely execution is vital to building a business for sustained growth.
This would be derived by first identifying the customer’s unmet and under-met needs, determining the technologies and uniqueness that can be incorporated into creating products, and ensuring that quality and timelines are achieved.
As for Sri Lanka, there are immense opportunities for us to build vertical supply chains within our industries based on the island’s resources and work towards differentiating our collective offering as a nation when competing with players in other parts of the world.
Q: Given the geographical distance, how do you stay connected to the business environment and cultural dynamics of Sri Lanka while working in Canada?
A: My responsibilities aren’t limited to the role I play in Canada as I continue to lead my team in Sri Lanka, which requires being connected for business review discussions while being in touch on a personal level through other communication apps.
It is important to be aware and stay abreast of the business landscape in Sri Lanka where the majority of our exports are manufactured as any unforeseen challenges need to be highlighted to customers immediately for swift action.
My roots remain in Sri Lanka, and the lifestyle my family and I have adopted in Canada is no different. We’re also part of a local Sri Lankan community, which makes it easier to stay connected to Sri Lankan culture.
Q: Managing teams and projects across international borders can be challenging. How have you led and collaborated with teams in different locations?
A: To navigate and lead teams across international borders, I have entrusted and empowered my teams to take on more responsibilities, which ensures swift decision making within the same time zone.
Building a professional relationship with my teams in an informal manner proved to be a success even before my assignment in Canada. This helps build mutual trust and respect, and create an environment that is inclusive and empowering.
Q: What trends or challenges do you foresee in Sri Lanka’s apparel industry?
A: Year 2023 was very challenging for most companies in the apparel industry in Sri Lanka due to reduced allocations as a result of waning consumer interest and demand.
The low consumer demand was directly related to high inflation in the Western world, which created uncertainty and a sense of job insecurity, compelling consumers to restrict their spending.
Following the pandemic, the brands we work with adopted a risk mitigation sourcing strategy, compelling them to split allocations among countries based on product capability and exposure to the brands. This too contributed to the reduced allocations we experienced during the year.
Moving onto 2024, we do not foresee a surge in business growth as global events have led to lower forecasts for consumer confidence levels. The conflicts in major nations, upcoming presidential election in the US and shifts in power from the West to Asia, coupled with the impact of climate change, has led to uncertainty in the apparel industry.
To succeed as a nation, we need to come together to provide a compelling value proposition for the brands we work with, to differentiate our offering through innovation and work for enhanced allocations to Sri Lanka.
To succeed as a nation, we need to come together to provide a compelling value proposition
FACT FILE
FAMILY
Wife – Darnila
Daughter – Aarna
SCHOOLING
Trinity College
HIGHER EDUCATION
Member of the Chartered Institute of Marketing (CIM)
Master of Business Administration – UK
Strategic Marketing Management (Harvard Business School)
PRESENT OCCUPATION
Business Director – MAS Active
COUNTRY OF RESIDENCE
Canada
CITY OF RESIDENCE
Vancouver
CV IN A NUTSHELL
Rashmika Peiris’ career in sales and business development began in 1998 when he chose to pursue a job as a sales associate in the telecommunications field over a career in cricket.
His career also encompasses experience in the fast-moving consumer goods (FMCG) sector during his time with Coca-Cola Beverages Sri Lanka, which laid the foundation for his success in the apparel industry.
At MAS Holdings, Peiris has led teams in merchandising, marketing, product development, innovation and business strategy, where he’s been instrumental in onboarding global brands to the group’s customer portfolio.
In addition to his team in Sri Lanka, Peiris leads a strategic sourcing and product creation unit that was formed in Vancouver in 2022, to build partnerships and grow business with global brands.