“Consumers’ demand for clothes is quite low due to the economic hardship in the country," Giorgi Basiladze, director of Gtex so responded to bm.ge’s question why the company's stores are closing so fast.
Basiladze notes that the decline in purchasing power has also reduced the company's sales, which has made it difficult to operate on the company's market.
"We are forced to close the facilities. We have already closed three stores, both in Tbilisi and Batumi, and two more will be closed in the next month and a half," said the director of Gtex.
Gtex is a franchisee of OVS, Terranova, Colosseum and Penti. The company currently has 33 stores.
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