Teejay Lanka PLC formerly known as Textured Jersey Lanka is a
knitted fabric
Knitted fabric is a textile that results from knitting, the process of inter-looping of yarns or inter-meshing of loops. Its properties are distinct from woven fabric in that it is more flexible and can be more readily constructed into smaller pi ...
manufacturer in
Sri Lanka
Sri Lanka (, ; si, ශ්රී ලංකා, Śrī Laṅkā, translit-std=ISO (); ta, இலங்கை, Ilaṅkai, translit-std=ISO ()), formerly known as Ceylon and officially the Democratic Socialist Republic of Sri Lanka, is an ...
and is one of the constituents of the
S&P Sri Lanka 20 Index
The S&P SL20, or the Standard & Poor's Sri Lanka 20, is a stock market index, based on market capitalization, that follows the performance of 20 leading publicly traded companies listed in the Colombo Stock Exchange. The 20 companies th ...
of the
Colombo Stock Exchange
The Colombo Stock Exchange (CSE) ( si, කොළඹ ව්යාපාර වස්තු හුවමාරුව, translit=Kolamba Vyapara Vasthu Huvamaruva; ta, கொழும்பு பங்கு பரிவர்த்தனை) i ...
. The company received the award of the best textile exporter in Sri Lanka at the Presidential Export Awards in 2019 and ranked amongst the 100 most respected companies in the country by the ''
LMD'' magazine.
The company is a supplier to the brands such as
Nike,
PVH,
L Brands
Bath & Body Works, Inc. (formerly known as L Brands, Inc., Limited Brands, Inc. and The Limited, Inc.) is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $11.9 billion in revenue in 2021, and wa ...
,
Marks & Spencer,
Decathlon
The decathlon is a combined event in Athletics (sport), athletics consisting of ten track and field events. The word "decathlon" was formed, in analogy to the word "pentathlon", from Greek language, Greek δέκα (''déka'', meaning "ten") and ...
,
Lidl, and
Calzedonia.
History
In 2000, Textured Jersey Lanka was founded as a joint venture between Linea Clothing and Textured Jersey UK. In 2004, Pacific Textile Holdings acquired Textured Jersey UK's stake in the company. In 2007, shareholding changed with
Brandix joining Pacific Textiles, and in 2011 the company was listed publicly. In 2016, the company was rebranded as Teejay Lanka. In 2021, Teejay Lanka won the award for the best textile exporter at the Presidential Export Awards for the third consecutive year. Sri Lankan business executive, Ajit Gunawardene was appointed as the chairman of the company in 2022.
Operations
The company carries out manufacturing operations in Sri Lanka as well as in India. Despite the lockdowns due to the COVID-19 pandemic in Sri Lanka and India, Teejay Lanka was able to post a net profit of LKR 2.4 billion in the fiscal year of 2019/20 which is an improvement of 28 percent over the last year.
During the pandemic Tejay Lanka moved to manufacture
personal protective equipment or PPE as a strategic decision.
Legal issues
On August 10, 2020, the Colombo Magistrate Court issued a
notice on the company to appear before the court in connection to an alleged attempt to dump
hazardous waste
Hazardous waste is waste that has substantial or potential threats to public health or the environment. Hazardous waste is a type of dangerous goods. They usually have one or more of the following hazardous traits: ignitability, reactivity, co ...
into the ocean through a contract.
See also
*
*
Apparel industry of Sri Lanka
References
External links
Official website
{{All Share Price Index
2000 establishments in Sri Lanka
Companies listed on the Colombo Stock Exchange
Clothing companies of India
Clothing companies of Sri Lanka
Toray Industries