ODEL
 | |
| Public | |
| Traded as | CSE: ODEL.N0000 |
| Industry | Retail |
| Founded | 1990 |
| Founder | Otara Gunewardene |
| Headquarters | Colombo, Sri Lanka |
Area served | Sri Lanka |
| Products | Ladieswear, Menswear, Kidswear, Homewear, Sports, Delight, Perfume & Cosmetics, Books & Music, Shoes and Handbags, Jewellery, Luggage, Food, Stationary, Gift Wrap and Souvenirs |
| Subsidiaries | Luv SL |
| Website | http://www.odel.lk/ |
ODEL is a public retailing company in Sri Lanka. It's the Sri Lanka's first example of retailing company. Starting out as a single company, focusing on the retail garment trade, ODEL has over the years developed and become the first department store in Sri Lanka.
History
The company commenced when Otara Gunewardene began selling merchandise from the boot of her car to family and friends in 1989.
Gunewardene founded Odel Private Limited in 1990[1]and the company opened its first store on Dickmans Road in Colombo. In 1994 they opened their second store in Majestic City and by 1995 the company had a total of nine stores located in city hotels and shopping centres throughout Colombo.
In 1996 ODEL opened its 10,000 sq ft flagship store in Alexandra Place, Colombo, which was further expanded to 40,000 sq ft in 2000. In 2005 the company opened a store in the departure/transit lounge of Bandaranaike International Airport, Katunayake. ODEL opened two more stores in Kohuwela and Ja-Ela.
In 2009 they opened a further three stores in Nugegoda, Mount Lavinia and Moratuwa. The following year the company opened another three stores in Panadura, Maharagama and Battaramulla. That year ODEL was floated on the stock exchange as a publicly listed company.
In 2012 the company opened stores in Wattala, Kiribathgoda and in the Kandy City Centre shopping complex, the first store outside the Western Province. ODEL also launched Luv SL - a concept store carrying stylish souvenirs and products catering to locals and tourists - opening Luv SL stores at Queen's Hotel, Kandy and the Old Colombo Dutch Hospital shopping precinct.
In July 2012 Parkson Retail Asia Limited purchased a 41.82 per cent stake in the company for Rs 1.424 billion.
ODEL opened a store in K-Zone Ja-Ela super mall in 2013 and the following year opened Luv SL concept stores in Negombo and Galle Fort. On 11 September 2014 Gunewardene sold her shareholdings in Odel PLC to the Softlogic Group.
Main Outlet Store
Odel's main outlet store is located at No 5, Alexandra Place, Colombo 7. It is also the company's flagship store which positions itself as Harrods/ Selfridges have done in London and C.K. Tangs in Singapore – not just a department store but also a tourist destination. The ODEL main outlet, launched in 1999, is becoming comparable to international department stores in any fashion capital. This complex is the only department store in Sri Lanka, spanning 33,000 square feet (3,100 m2). The buildings' architecture is a combination of colonial grandeur interspersed with glass and glistening metal, contrasted with an abundance of plants.
Warehouse
The ODEL Warehouse is at Dickman's Road, Col 5. Located at the site where the first outlet was opened, this store is a retail warehouse, where customers can purchase discontinued items at discounted prices.
Majestic City
ODEL at 1-29, Majestic City – Bambalapitiya, Col 4 sells a range of clothes and fashion accessories. The outlet has been in operation for more than a decade.
Bandaranaike International Airport
This latest addition to ODEL's profile is located in the Departure/Transit Lounge of the Bandaranaike International Airport. Created as a part of an initiative in conjunction with the Airport Expansion Project, the ODEL Departures Store offers an opportunity to all departing passengers to shop before leaving the island.
Growth
From an initial staff of 2, Odel now employs more than 800. They also provide indirect employment of more than 1000. Odel's product mix contains more than 1,500 different items, with a majority of those sourced locally. Odel works with more than 1000 suppliers, and over 200 factories. Apart from retail, the Odel company involves itself in wholesale/ export of garments to countries such as the Maldives, the Middle East, and Europe.
Re-Launch of Outlet
ODEL recently re-launched its main outlet as Sri Lanka's first department store.
Fashion Shows
Embark Fashion Show
It was an event to launch the new Embark collection.[2] Dogs, especially stray dogs took to the catwalk with the Super Models in Sri Lanka among whom were Bianca Pahathkumbura, Chulpadmendra Kumarapathirana, Muthu Imehsa, Rochelle Correa and Rozelle Plunkett.