Tornike Samkharadze, Executive Director of the jewelry house Zarapkhana, says the company will likely open a branch abroad this year. He discussed this with BM.GE.
According to him, they have been actively working on entering foreign markets since last year, and there has already been some progress. At this stage, the company is conducting negotiations with Italy, France, and Great Britain.
"Active work is ongoing in all three directions. A lot of work has been done, and there's even more work ahead. Throughout the year, we have high hopes that we will expand beyond borders, and unless there are any global negative surprises, we will likely have news in this regard," - said the Executive Director of "Zarapkhana".
Regarding adding a branch in Georgia, Tornike Samkharadze notes that they are actively working in this direction as well. It involves opening either one large branch or two smaller branches.
"Regarding opening a new branch in Georgia, at this stage, we are evaluating the project's profitability. In Georgia's case, investmnet of over 800,000 GEL is planned, while in the case of foreign locations, the investment cost will be much higher due to higher rental costs," - Samkharadze said.
This is not "Zarapkhana's" first attempt to enter the international market. In 2020, the company management stated they were planning to open showrooms in London and Ukraine. In 2023, they said they were planning to open their showroom in Dubai.
