{"id":80544,"date":"2018-08-28T13:53:19","date_gmt":"2018-08-28T20:53:19","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=80544"},"modified":"2018-08-28T13:53:19","modified_gmt":"2018-08-28T20:53:19","slug":"sri-lankas-popular-clothing-store-cotton-collection-divests-to-odel","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2018\/08\/28\/sri-lankas-popular-clothing-store-cotton-collection-divests-to-odel\/","title":{"rendered":"Sri Lanka\u2019s popular clothing store \u2018Cotton Collection\u2019 divests to ODEL"},"content":{"rendered":"<h2 class=\"social-sharethis-post\"><span style=\"color: #0000ff;\"><em>Courtesy NewsIn.Asia<\/em><\/span><\/h2>\n<div class=\"social-sharethis-post\">Colombo, Aug 28 (newsin.asia) \u2013 Sri Lanka\u2019s popular clothing store, Cotton Collection Private Limited divested its shares to ODEL PLC on Tuesday after the brand was bought over by the\u00a0Softlogic Group.<\/div>\n<div class=\"entry-content\">\n<p>The much sought-after brand was bought by the Softlogic Group as it was the perfect \ufb01t for their well-established, diverse retail network and accelerated expansion plan,\u201d a statement said.<\/p>\n<div class=\"google-auto-placed ap_container\"><img decoding=\"async\" class=\"aligncenter\" title=\"Sri Lanka\u2019s popular clothing store \u2018Cotton Collection\u2019 divests to ODEL\" src=\"https:\/\/i0.wp.com\/newsin.asia\/wp-content\/uploads\/2018\/08\/Cotton-Collection.jpg?fit=600%2C307&amp;ssl=1\" alt=\"Sri Lanka\u2019s popular clothing store \u2018Cotton Collection\u2019 divests to ODEL\" \/><\/div>\n<p>Niloufer Esufally Anverally, the founder and creator of the all Sri Lankan brand Cotton Collection maintains ownership of her alternate brand Leather Collection.<\/p>\n<p>Having identi\ufb01ed the core strengths of the two companies the Softlogic Group believes that the acquisition will garner greater market share for the group.<\/p>\n<p>The Retail arm of the Softlogic Group has a very strong footprint in the retail sector spanning the verticals of fashion, consumer electronics and furniture.<\/p>\n<p>ODEL PLC together with a strong line up of stand-alone Flagship Branded Apparel stores make Softlogic the foremost choice for fashion and lifestyle retail in the country.<\/p>\n<p>Cotton Collection would be a worthy addition to this already strong and growing base.<\/p>\n<p>Founder\/ Managing Director of Cotton Collection, Niloufer Esufally Anverally went on to say \u2018Cotton Collection is more than a brand, it\u2019s a lifestyle.<\/p>\n<p>Through a journey spanning 27 years, my team and I have built a brand that has helped shape and develop the fashion retail landscape of Sri Lanka,\u201d Niloufer said.<\/p>\n<p>She added\u00a0the decision was inspired by the desire to dedicate more time to her family and grow the Leather Collection brand to be a strong contender in today\u2019s\u00a0 market.<\/p>\n<p>Cotton Collection was founded by Niloufer Esufally Anverally in 1991, at a time when fashion retail in Sri Lanka was at a nascent stage. The company, today, boasts of over 15,000 square feet spread across \ufb01ve branches.<\/p>\n<p>The 200 people-strong workforce of Cotton Collection comprises of a home-bred design team that curates bohemian, freespirited collections that has carved out a niche market share over the years.<\/p>\n<p>This venture is just another step in the development of ODEL as one of the largest fashion retailers in the country that caters to the niche market segment in Sri Lanka.<\/p>\n<p>Capital Alliance Partners Limited (CAL) functioned as the \ufb01nancial advisor to Mrs. Niloufer Esufally Anverally on the transaction which will herald in a new age for Sri Lankan fashion retail.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Courtesy NewsIn.Asia Colombo, Aug 28 (newsin.asia) \u2013 Sri Lanka\u2019s popular clothing store, Cotton Collection Private Limited divested its shares to ODEL PLC on Tuesday after the brand was bought over by the\u00a0Softlogic Group. The much sought-after brand was bought by the Softlogic Group as it was the perfect \ufb01t for their well-established, diverse retail network [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-80544","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/80544","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=80544"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/80544\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=80544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=80544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=80544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}