18th April 2011, www.dailynews.lk By Ravi Ladduwahetty
Sri Lanka’s fastest growing conglomerate-Lanka Orix Leasing Co PLC (LOLC) will shortly realign the brands of five associate companies which will enable them to remain as stand-alone brands while remaining within the image and network of the holding company.
The companies which will realign their brands will be Lanka Orix Finance Co. Ltd, LOLC Insurance Co. Ltd, LOLC Motors Ltd. LOLC Micro-credit Ltd and the LOLC Leisure Group comprising Eden Hotel, Hotel Riverina, Club Palm Bay and Tropical Villas all of Beruwela.
LOLC possesses more territorial opportunities that enable them to easily penetrate through their new corporate branding strategies those are being adopted by the associate companies which will enable them to remain as stand alone brands under the Holding company, LOLC Group Managing Director and CEO Kapila Jayawardena told Daily News Business.
“This will make them stand out on their own, while associating the core values of LOLC. The importance of trust will run through its entirety adding value to the branding experience,” he said.
He said LOLC will be realigning all other associate brands in line with both macro and micro developments and will be introduced to the market on a planned time scale.
The Group Managing Director and CEO further explained that Lanka ORIX Finance Company will continue to function as a distinct financial entity supported by its own operational strength, whilst being a part of the LOLC Group.
Explaining this further he said, “With the recent developments in meeting regulatory requirements.
“We have been well ahead and have taken necessary steps to ensure compliance. We are making a conscious effort to establish Lanka ORIX Finance Company’s independent identity. Thus, we have distinguished it from the LOLC brand allowing it to grow as a stand alone brand. The launch of the new logo itself is a step towards it,” he said.
He reiterates that continuity is of paramount importance to the brands formation and longevity and that the company has evolved from leasing to a total finance solutions provider and then again to a diversified Group of Companies, which required it to inculcate strategic changes to the corporate brand. “This was possible through vertical and horizontal brand extensions,” he said.
He explained that the goal was to earn brand leadership for the LOLC Group and are making headway in developing a few strategic moves in branding, where they will be unveiled on a strategic time plan.
In this process, the initial step was the unveiling of Lanka Orix Finance Co Ltd which took place last week, celebrating its unprecedented success as the fastest growing Registered Finance Company (RFC) in Sri Lanka.
Jayawardena said: “The new logo of Lanka Orix Finance demonstrates the versatility and the independent strength of the Company. We are entering a new phase where this Finance Company is evolving, and where its stellar financial performance speaks volumes of its consistent progress throughout the years. The Company carved a niche position in the financial sector by becoming the fastest growing RFC in the country.
“As Member company of the LOLC Group, it offered lasting and trustworthy financial solutions to all sectors, with the SME sector being one of the primary sectors. As time progressed, Lanka Orix Finance Company evolved into a stoic, mature and responsible corporate citizen. Thus, we gave an already established finance company its own unique identity, in order to further raise the levels of customer confidence,” he said.
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