Sri Lanka’s retail sector is set to achieve a significant milestone with the introduction of Ministry of Brands (MOB), the nation’s first off-price retailer. Scheduled to open on February 16, 2026, the flagship store will offer Sri Lankan consumers access to authentic global luxury and premium brands at discounts of up to 90% off the original retail prices.
Supported by Akbar Brothers, Ministry of Brands is bringing the globally acclaimed off-price retail model to South Asia for the first time. This concept allows customers to purchase genuine designer and brand-name products at substantially reduced prices while promoting more sustainable retail practices.
Located at 28/9, Vajira Road, R.A. De Mel Mawatha, Colombo 4, the 10,000 sq. ft. flagship store will offer a wide array of products including apparel, footwear, handbags, accessories, homeware, and more. Ministry of Brands will feature over 2,000 international and designer brands across womenswear, menswear, childrenswear, home, and accessories. Renowned names such as Gucci, Ferragamo, Valentino, Michael Kors, Ralph Lauren, Burberry, Rag & Bone, Lacoste, Puma, UGG, HOKA, Brooks, Air Jordan, and many others will be available.
Off-price retail represents one of the fastest-growing segments globally, aiding fashion houses in managing excess inventory responsibly. The UN Environment Programme estimates that 92 million tonnes of textile waste are generated annually, making sustainable retail models like off-price increasingly vital.
“Sri Lanka manufactures for many of the world’s leading designer labels, yet these products have often remained out of reach for local consumers,” stated Aamir Akbarally, Director of Ministry of Brands. “Through off-price retail, we are proud to make genuine designer brands more accessible to our fellow Sri Lankans, offering premium fashion at affordable prices while delivering a world-class shopping experience built on Akbar Brothers’ longstanding values of integrity, quality, and trust.”
Ministry of Brands Director, Ramzey Hammoud, added, “With decades of experience in off-price retail, we see this as an exciting new growth chapter for Sri Lanka’s retail landscape. Our goal is simple: to allow customers to shop global designer brands locally at the best prices, while rediscovering the thrill of the find through a constantly changing, treasure-hunt shopping experience.”
Following the launch of the Colombo flagship store, Ministry of Brands plans to open a second location at the One Galle Face Mall, with intentions to expand across South Asia and Australia.
For more information, visit www.ministryofbrands.com.
