Ministry of Brands introduces a new era of retail for Sri Lanka with Off-PriceBusinessMinistry of Brands (MOB), Sri Lanka’s first off-price retailer, officially opened its doors to the public, marking a new era in the country’s retail landscape. Backed by Akbar Brothers, Ministry of Brands introduces the globally established off-price retail model to Sri Lanka and the wider South Asian region. Off-price retail remains one of the fastest-growing global retail segments, enabling fashion houses to manage excess inventory while responsibly expanding access to premium products. Ministry of Brands signals the beginning of a new era in Sri Lanka’s retail sector. From left to right: Aamir Akbarally, Farida Akbarally, Ghazi Hammoud, Tyeab Akbarally and Ramzey Hammoud officially opening Ministry of Brands at the ribbon-cutting ceremony.

Source: Sunday Times February 21, 2026 06:43 UTC