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Tbilvino, one of the largest producers and exporters of Georgian wine, has made a strategic decision to suspend economic activity in Russia. It should be noted that the Russian market has so far accounted for 21% of the company’s annual sales.
“Recent events and subsequent global pressure on the Russian economic system have a major impact on business expectations, long-term prospects and, in general, will bring changes in the logistical chain. At the same time, imposed sanctions on the Russian banking and financial system and currency devaluation process would further complicate transactions. Since the beginning of the military conflict in Ukraine, we have been thoroughly examining all the risks or changes, including the reputational risks, that may affect our commercial situation in this respect.” – says Zurab Margvelashvili, Founder of Tbilvino.
Ongoing hostilities in Ukraine have made the situation stressful and unpredictable in Russia and the region in general, which, along with the reputation risk, creates an unfavorable outlook for doing business. Company’s long-term strategy has always been to produce high quality products, diversify markets and promote Georgian wine around the world.
As George Margvelashvili, Founder of Tbilvino, states, “We have always strived to let customers around the world discover and appreciate Georgian wines and we are proud to be present in 30 countries today. However, expansion and growth in the emerging and existing markets is even more important now and we plan to increase our efforts to find new partners and grow sales with the existing ones.”
Despite the crisis in the region, the company continues to work on expanding production, introducing better methods of corporate governance and quality control, and integrating modern technologies into the business process. At the moment, Tbilvino is conducting negotiations with a large international financial organization that will provide remarkable investment opportunity and will be an important step for the development of the company. In this process, minimizing unstable and risky operations becomes even more important.
Since the beginning of the conflict, Tbilvino has been in regular contact with partners in Ukraine to obtain firsthand information about the humanitarian needs and address them in an urgent manner. The company shipped humanitarian cargo to Ukrainian partners in the first week of the war.
Zurab Margvelashvili, Founder of Tbilvino: “The main thing we can do now is to support and help Ukrainian people. We send humanitarian cargo to Ukraine, donate on behalf of the company and our employees to specially created funds and strongly believe that in the near future we will be able to resume operations with our Ukrainian partners.”
To date, TBILVINO products are represented in 30 countries. The company’s wines have received prestigious awards at well-known international competitions, including the Decanter World Wine Awards, the International Wine Challenge and the International Wine & Spirit Competition.
Besides, we would like to remind that TBILVINO is a nominee for the new Wine Travel Awards.