Iago Bitarishvili, founder of Iago Wine declares, that the business has a loss due to the strengthening of the national currency, but he notes that he does not want to show the business is against the strengthening of GEL. Accoridng to Bitarishvili, the business needs stability.
"Exchange rate must be stabilized. 100% of our product depends on exports. If earlier, EUR 10,000 was equal to GEL 40,000, now it equals GEL 27,000. I am not against the strengthening of any exchange rate, but it should be as stable as possible. The exchange rate should be maintained so that we can adjust our plan," explained Bitarishvili.
According to the businessman, he cannot increase wine prices in the USA and Europe, which is harmful to the business in this situation.
Iago Wine was the first wine company, which received the first Bio Certificate in Georgia in 2005. The wine cellar produces 5000 bottles of white-dried natural wines per year.
