Zurab Margvelashvili, director of "Tbilvino" delcares, that the company increased the price of products by 7-8% in 2023. According to Margvelashvili, the reason for the price increase is the auxiliary materials.
"For the last few years, we have increased the prices on the local as well as exporting markets. But, I must point out that our expenditures are more increased than it affects the value. For example, transportation, bottle corks, and fertilizers became very expensive. Unfortunately, this tendency that self-value is increasing in recent years does not change. In 2023, we increased the price by an average of 7-8%, both on the exporting and local markets," Margvelashvili said.
According to him, the company's main goal in 2023 was to maintain the existing positions on the exporting markets.
"Last year, it was important for us to maintain our positions. We don't sell wine in Russia for the second year. However, due to the war in Ukraine, the demand was significantly reduced, which was an important exporting market. Also, purchasing power has decreased in the Baltic states and Poland. Clearly, wine is not a product of primary consumption or a priority. In the background of these geopolitical and economic fluctuations, the reflection was great and the goal was not to increase sales, but to maintain what we managed to do," Margvelashvili told bm.ge.
The company sells wine in 30 countries and 85% of Tbilvino's products account for the exports.
