SECTOR WINNER CONSUMER DURABLES

Singer boasts a rich history since 1877. Visionary leadership transformed it by the 1970s from a sewing machine company into a multi-brand, multi-product retail powerhouse. Establishing its first factory in 1963, Singer expanded into white goods manufacturing, furniture production, and light engineering and agricultural equipment. The first Singer Mega concept store in 1998 marked a new era. A licensed finance company, Singer Finance, enhanced its portfolio along with diversification into wholesale, digital devices and acquisition of leading global brands. Hayleys acquired a majority stake in 2017; and today, Singer forges ahead towards an ambitious future.

Q: How do you secure corporate respect?

A: The foundation lies in leading with respect, demonstrating responsibility and integrity, improving and innovating passionately, collaborating for success, responding with agility and driving sustainability. Employees at every level are well acquainted with these values and strive to embody them in their daily activities.

Our corporate journey, spanning over 140 years, is marked by a steadfast adherence to these principles. Winning the SLIM-Kantar ‘People’s Brand of the Year’ award for 18 consecutive years is a testament to the enduring respect of stakeholders.

A customer-centric approach underscores commitment to serving and prioritising our customers. Upholding our fundamental values remains central to ensuring corporate respect.

Q: How are you contributing to Sri Lanka’s economic future?

A: Singer’s primary business lies in retail; and with Singer Finance, we contribute significantly to the economy with approximately 460 retail touch points across the country.

Our retail contributions are far-reaching and diverse. An extensive online presence and well distributed outlets ensure balanced economic participation.

And our manufacturing and retail operations are backed by a robust service network comprising around 400 service franchise agents. This ecosystem fosters  direct and indirect job creation while promoting sustained employment and entrepreneurship.

Our products and services elevate consumers’ living standards. We ensure compliance with government taxes, offer competitive salaries and engage in numerous social responsibility initiatives.

Q: How does one earn and maintain corporate respect?

A: Despite the unpredictable nature of economic challenges, our approach focuses on long-term stability rather than short-term fluctuations. We ensure our fundamental approach to business remains consistent regardless. This involves planning for long-term stability while making necessary adjustments to navigate immediate challenges.

During the recent economic crisis, we prioritised employee wellbeing by ensuring job security and maintained open communication with stakeholders – emphasising the importance of long-term partnerships over short-term gains through mutual support and understanding.

Mahesh Wijewardene
Chief Executive Officer

Q: How do technological advancements impact corporate respect?

A: The integration of digital technologies, social media and AI must be embedded in our strategic pillars to remain competitive.

Social media platforms facilitate direct communication with customers, enabling immediate feedback, personalised marketing and enhanced customer service. AI and digital tools provide valuable insights through data analysis, enabling informed decision making, and helping to anticipate market trends and customer needs.

To harness the benefits of technology while mitigating its risks, companies must implement strong governance and control measures, ensuring technology is used responsibly and securely.

Q: How important are stakeholder perceptions for corporate respect?

A: Corporate reputation is essentially a reflection of the collective perceptions of stakeholders. If the company consistently sells quality products, provides excellent after sales service and ensures a seamless customer experience, the perceptions will undoubtedly be positive, leading to widespread admiration.

Conversely, if customers are not treated well, it can quickly damage the company’s reputation. Therefore, treating stakeholders well is not only about good business ethics – it’s essential for the company’s survival and success.

QUICK-FIRE ROUND

Three vital ingredients that earn corporate respect

Customer-centricity
Integrity and ethical practices
Communicating effectively and transparently

Three global organisations that you respect  

Walmart
Dell
McCann

Singer’s consistent delivery of quality products, ensuring exceptional customer service and fostering positive relationships with stakeholders built and sustained a strong reputation. Its ability to adapt to change while staying true to core values and demonstrating integrity is the secret of its long-term success.

Telephone 2429222 | Email singer@singersl.com | Website www.singer.lk