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| Tuesday, 5 February 2002 |
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South Asian market targeted: Rs. 100 million cosmetic plant to produce Paragon products by Shirajiv Sirimane Paragon Cosmetics Ltd of Australia and Thenuwara Trading Pvt. Ltd are planning to build a cosmetic plant in Sri Lanka to manufacture Paragon products aiming at the South Asian market. Thenuwara Trading Pvt. Ltd, Managing Director, Carmen Thenuwara, said that discussion in this regard had already been done and the founder of Paragon Cosmetics Ltd, of Australia, Geoff Lang will be in Sri Lanka to iron out other details soon. "This will be a BOI venture and we are hoping to invest around Rs. 100 million in this plant," he said. Mr. Thenuwara said that the prime objective behind this move is to cut down on freight cost in importing cosmetics and provide genuine products to South Asian customers at a lesser price. He said that Paragon products were in the Sri Lankan market in the late 1990's, but had been pulled out. "Now, Thenuwara Trading Pvt. Ltd, under Paragon Cosmetics Ltd., (Sri Lanka) has been appointed the sole distributor for Sri Lanka and the Maldives." He said that last December the company had a soft launch and the response so far has been good. "We target the upper middle class and Beauty saloons and hope to market our products through the Internet, direct marketing and via super markets." He said that for the first time they will be launching "Slim Line cream " which will help burn extra fat. Besides, we will market 56 products all of which have been ratified by the Sri Lanka Health Ministry," he said. Thenuwara Trading Pvt. Ltd., which sets up business in the Aqua Culture only last year hopes to launch their product range in the Maldives next month. "Paragon Cosmetics Ltd., was launched in Australia in 1976 and over the years has become a market leader because of its high quality product. Today, Paragon is being marketed through leading super markets and departmental stores in Australia, New Zealand, Hong Kong, Singapore and Malaysia. Paragon offers extensive hair skin products making it the ideal solutions for people of all walks of life," said Marketing Manager, Paragon Cosmetics Ltd., (Sri Lanka) Pradeep David. |
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