Benji Limited and the Board of Investment of Sri Lanka (BOI) have inked an expansion agreement for $ 35 million.
The company’s parent company, Oniverse, opted to invest more in Sri Lanka, citing its extensive understanding of the local business ecosystem and renewed confidence in the normalisation of business in the country.
Benji CEO and Managing Director Giorgio Montresor underlined the importance of Sri Lanka’s human resources in attracting new investment. He also remarked that young Sri Lankans are very capable of learning new technologies, and their work ethic is among the greatest in the world. All of the group’s companies currently employ about 15,000 people.
Currently, Benji manufactures 30 million bra cups. This fresh capital injection will bring in new technology-driven machines with increased capacity and improved quality.
The company expects a 35% increase in production. All group firms source bra cups from Benji, reducing imports of bra cups from China to nil. As a result, this investment will not only increase foreign exchange inflows but also reduce dollar outflows.
Oniverse began operations in Verona, Italy, in 1986. Over the last thirty years, Oniverse has had constant development in its streams and expansion activities, developing profitable goods and brands and strengthening its position in worldwide fashion retail marketplaces.
Oniverse manages the whole product life cycle, from design to manufacturing in proprietary facilities to global distribution. Today, the Group sells its products entirely through its single-brand 5,600 stores, which are either directly owned or franchised in 57 countries and employ over 45,000 people.
Oniverse is the industry’s dominant player in Europe and one of the top globally. The firm operates 66% of its stores outside of Italy, with locations in Milan, Rome, Paris, London, Moscow, Barcelona, Dubai, Hong Kong, New York, São Paulo, Shanghai, Tokyo, and other global cities.
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