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How Much Do Georgians Spend To Buy Golden Jewelry?

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BM.GE
09.05.23 13:00
326
Tornike Samkharadze, executive director of the company "Zarapxana" declares, 95% of "Zarapxana" customers are Georgian citizens. As the executive director of the company told TV-program "Business Morning", the sales were significantly up in 2022, and this trend was still maintained in the first quarter of the current year.

"Sales hit a record high late in 2022. The demand growth is observed this year as well, we have finished April with a 50% increase compared to the previous year. Zarapxana has similar expectations for May. 95% of "Zarapxana" customers are Georgian citizens. We are glad that the demand is growing within the country and we are not dependent on tourists, although obviously this has a certain positive effect. Locals are more generous and buy products of the high price segment, while foreigners spend over GEL 2000-3000," explains Samkharadze, noting that the company's share in the market amounts to 30%.

According to him in a month and a half, the company will complete the arrangement of the new enterprise, and the amount of investment for reequipping the enterprise totals to GEL 1.5 million.

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