Hirdaramani Annual: Report 2024

The Group launched its own internal awards programme to recognise outstanding CSR initiatives. Winners included Project WOW School for a Sustainable Future (Gold) and Project Autism Awareness for an Inclusive Future (Bronze).

While Sri Lanka remains the historical heartland, the report notes robust performance from their Bangladesh operations (leveraging the duty-free access to key markets) and their Vietnam facilities (serving as a strategic hub for buyers looking to diversify away from China). The report frames this not just as geographic diversity, but as "capability diversity," with different regions specializing in different product categories—from leisurewear in Vietnam to intimates in Sri Lanka. hirdaramani annual report 2024

The path forward is not without its challenges. The Sri Lankan apparel industry, while growing in 2024, is still recovering from the record highs of 2022. Furthermore, monthly export data for December 2024 showed a modest 2% year-on-year growth, with exports to the US and UK declining 4% and 10% respectively, indicating continued market volatility. The entire industry also continues to grapple with global economic uncertainty, evolving consumer values, and the need for constant innovation. The Group launched its own internal awards programme