The Georgian jewelry company Zarapkhana increased its prices by approximately 6% this year, citing rising operational costs. According to the company’s Executive Director Tornike Samkharadze, the adjustment was necessary because the business could no longer offset growing expenses without raising prices.
Despite the increase, the company says it is not planning additional price hikes for now. Samkharadze explained that maintaining a balance between customer demand and pricing is essential, adding that the company prefers to sacrifice part of its profit margin rather than raise prices multiple times within a short period.
Global gold prices have also risen sharply following the recent conflict in the Middle East, with the price of one ounce increasing by more than $200 since the conflict began. Samkharadze noted that the region - including hubs such as Dubai, Israel, and the United Arab Emirates - plays a key role in the global gold and precious stones market, and further price movements will depend largely on how long the conflict continues.
Despite higher prices, demand for jewelry remains strong. The company reports that demand in January and February increased by around 5% year-on-year, and expects growth to accelerate to 7–8% annually starting from the second half of April.
