Abans’ iconic success story now a Harvard Business School case study

Professor Geoffrey Jones, the Faculty Chair of Harvard Business School’s Business History Initiative, recently invited Mrs. Aban Pestonjee, Founder and Chairperson of the Abans Group, to be interviewed on the topic of “Creating Emerging Markets.” This occasion not only served as a true testament t o M r s. Pestonjee and Abans’ storied business reputation, but also, Sri Lanka’s innovation and ingenuity.

The 2- hour long video interview was a sit- down discussion between Professor Geoffrey Jones and Mrs. Pestonjee and was conducted at the Sapphire Room of Taj Mahal Palace Hotel in Mumbai. The full transcript of the interview will be kept in the archives of Harvard Business School’s Baker Library, become a part of the library’s historical collection and ‘ C reating Emerging Markets’ website, and be available to students for research and case studies.

The interview which received comments of wide acclaim from those present at the recording covered many topics such as “The process of innovation in the business”; “The acquisition of international technologies”; “The role of family”; “The issue of succession”; ”The recruitment of professional management”; “Relationships with government, NGO’s and international organisations”; “Responsibility for society and natural environment” and t he “Challenges and opportunities of globalisation including globalising brands”.

The phenomenal success of Abans from a small retail shop selling used home appliances to the market leader in electronics and household appliances with 30 independent companies in diversified fields of business and services and a network of over 400 showrooms, dealers and service centers island wide is a remarkable achievement.

Abans’ newest venture is the multi- billion rupee Colombo City Centre, a mixed development project on Sir James Peiris Mawatha, Colombo 2 overlooking the picturesque Beira Lake. In keeping with their policy of always looking to introduce new technology to Sri Lanka, Abans have ventured into developing the first ever lifestyle mall and mixed- use venture, the likes of which are hitherto found only in highly developed countries like Dubai, USA and Singapore. The mall will feature attractions for tourists as well as locals who can come and spend an enjoyable day with their families.

The high- caliber retail mall will feature a range of global brands that will promise a never- b e - fore-seen shopping experience to Sri Lankans. Featuring a six screen Cineplex, an international food court and various unique entertainment and leisure activities, the Colombo City Centre Mall will become the first international destination for retail and entertainment in Sri Lanka.

The Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, USA and is one of the world’s most prestigious business schools from which global corporate leaders receive their Bachelors, MBA’s and Doctorates.