Lankan expats spending on local fast fashion can help bring in needed US dollars: Gflock

Fast-growing fashion retailer Gflock urges Sri Lankan communities to procure clothing from the local brands of the island nation, instead of big international names, so that they can contribute to the revival of the crisis-struck economy.

Gflock Founder and CEO Ranil Willadarage expressed confidence in the fast fashion business, which the band has paved the way, for the brand to grow significantly since its establishment and can help bring in US dollar income to the country.

“My kind request to our Sri

Lankan communities abroad is to spend your clothing budget at Gflock and place orders through our global online store, which is brought to you through the efforts of young creatives in Sri Lanka.

In return, as the owner of Gflock and an entrepreneur, I am prepared to offer 51 percent of the business’ shares to the Sri Lankan public in 2025,” said Willadarage.

According to the Gflock owner, Sri Lankans living in the United States, Canada, Australia and Europe tend to spend an average of US $ 300-US $ 500 as their annual clothing budget on brands such as Zara, Mango, Myer, Uniqlo, H&M and Shein.

He also expressed confidence that the fast fashion business can reach US $ 12 billion in annual revenue in three years.

“This is where we should find inspiration,” he said.

According to the entrepreneur, implementing such a model will allow the creation of new jobs across the country.

This alongside following the concept of circularity by contributing to the families of employees with monthly rice and dry ration packages will further strengthen their quality of life and help overcome poverty.

“By this, we are creating a strong public movement,” said Willadarage.

He sounded optimistic in the Gflock business model, which can reach the target of US $ 5 billion in annual revenues within the next five to seven years.

Wiladarage also expressed confidence in Gflock’s ability in competing with leading online store Shein, a brand well known for disposable fast fashion.

“At Gflock, we have the ability to provide high-quality garments at the same price,” he said.