Multi-brand luxury boutique and online store Boygar’s has released its 2024 financial report, showing sales exceeding GEL 19 million in its first year of operation. The store, which officially opened in February 2024 at 15 Rustaveli Avenue in Tbilisi, represents top luxury brands such as Prada, Valentino, Saint Laurent, Gucci, Bottega Veneta, Loewe, and Tom Ford.
Boygar’s was founded by members of the Avsajanishvili family - Boygar (Boris), Khatulia, and Timur Avsajanishvili - who also own Babochka, a high-end retail group operating in St. Petersburg, Russia. According to the business register, Svetlana Avsajanishvili, a dual citizen of Georgia and Russia, serves as the company’s director, while Mathieu Emile Pierre Dumontet holds the position of sales director.
Despite strong sales, Boygar’s reported a GEL 1.2 million loss in 2024, attributed mainly to initial supply purchases and operating expenses. The cost of goods sold amounted to GEL 10.4 million, and the company’s total assets reached GEL 27 million.
The company also disclosed that the Internal Revenue Service has imposed a tax lien related to its outstanding tax obligations.
