Beaking News

Has no content to show!


Global Economy

Construction Company Kgroup Enjoys 20% Growth on Georgian Market

Georgian construction and repair company Kgroup has achieved 20% growth in the field of construction and metal product manufacturing.

According to statistics, Kgroup carried out 38 repair projects (+14.6%), 78 projects in construction (+30%), and 144 projects in metal product manufacturing (+55.4%) in 2022.

Korneli Khvedelidze, Director of Kgroup, said demand for services in the construction sector is growing every day.

“Kgroup cooperates with large companies such as M2, Villa Residence, Anagi development, Archi, Element Construction. This is not the full list, of course. The quality work of Kgroup and its professional team have made many partner companies want to continue working with us," he said.

Khvedelidze also informed readers of Golden Brand “with great joy” that Kgroup was “one step closer” to becoming the largest metal products company in the South Caucasus. He added that completely “new and modern” tools introduced to the company last year have significantly simplified the work process. The company even set an ambitious goal to start exporting its metal furniture abroad.

“We are offering even higher-quality metal products and construction facilities to customers and vow to continue growth and the development in the future," Khvedelidze said.

Kgroup has been operating on the Georgian market since 2014 and has established a
leading position in its field.

The company manufactures metal gates, railings, grilles and household items, as well as metal structures for large, industrial constructions. It owns a holding in the eastern city of Rustavi, which allows the company to serve customers virtually throughout Georgia while being headquartered in the capital city of Tbilisi.

Khvedelidze recalls that there were “many obstacles, many achievements, but the enthusiasm, dedication, and years of experience of the people working in our company have helped us to overcome all difficulties."

Khvedelidze says that the company went through “many new things, obstacles and experiences” last year.

“Ukraine, which is now fighting Russia, was one exporter of metal goods. Due to unfortunate events, the import of metal was interrupted and Turkey became our main supplier. We had to find new contacts in order to continue our work perfectly and with quality. We managed to achieve this goal," he said.

Khvedelidze considers the biggest achievement of the company creating quality products that were not produced in Georgia before Kgroup and restoring trust in craftsmen.

The successful development of the company has been crowned by the Golden Brand award this
year, which recognized Kgroup as Georgian customers’ favorite manufacturer of metal products.

Q. Due to the successful activities of 2022 Kgroup once again became the winner of the Golden Brand award. How has the company managed to maintain this award and the title of favorite manufacturer of metal products?
A. The Golden Brand award we received last year was a recognition of the company's reliability, the quality of its products, and appreciation of the work of its employees. All this motivated us to keep going, to prepare for the changing environment, to introduce innovations, to listen to customers and offer them even more diverse, sophisticated and even higher quality products and services.

Enthusiasm, loyalty of the people in the team, motivation received from you became a prerequisite for the fact that we once again earned the award which is often referred as the "Business Oscars" of Georgia.

Q. You said that completely “new and modern” tools had been introduced to Kgroup. What new features have these tools added?
A. Today we are equipped with new machine tools, and in the future we plan to make even more diverse both our equipment and manufactured products.

Thanks to the existing modern equipment, currently we can fulfill orders in a shorter period of time, and we have the opportunity to cut and process the metal with millimeter accuracy, which affects the quality and increases productivity - more products can be made with less effort than in the past.

All this helps us get relevant certificates, adapt to EU standards, think about going outside of Georgia and offering European quality products to foreign countries.

Q. Your goal is to make Kgroup the largest metal products company in the South Caucasus. What about in Georgia? What is the company’s position here?
A. I can confidently say that we are one of the largest companies in Georgia, which offers customers comfort in service, the highest quality metal products and construction objects made in full compliance with regulations.

As far as metal goods, I can proudly say that we are the leaders in the market and we have a 20% share, which increases every year. As Michael Jordan once said, "talent wins games but only teamwork wins championships”. Thanks to my team's hard work and enthusiasm, the market share of Kgroup will continue to grow and our leadership position will be maintained in the future.

We will also soon be the largest and most reliable enterprise in the South Caucasus.

Q. You mentioned export plans several times. Which countries are you thinking of cooperating with, and what type of furniture are you thinking of exporting?
A. Negotiations regarding the export of metal furniture were conducted with neighboring countries, but so far work on this issue has been suspended due to global crises and unfortunate events.

We stand by Turkey and Ukraine and wish them a peaceful life.

Discussions on furniture export will definitely continue and we will be able to offer neighboring countries comfortable and high-quality furniture made of natural loft materials in the near future

Read more

Hyleys Wins Third Golden Brand as Number One Foreign Tea Brand in Georgia

Hyleys, which has been delivering the best blends of tea to its customers in Georgia since 2003, has won the country’s most influential business award, the Golden Brand for the third year in a row, after customers and experts chose it as their favorite foreign tea brand.

Since its introduction to the market, Hyleys has managed to win the hearts of many consumers. The brand has been developing year after year, experiencing stable growth in sales of about 20% annually and expanding its product portfolio to meet increased demand.

“Thanks to its high quality, unique style, broad presence on the market, loyal customers and firm establishment on the market, Hyleys is definitely a leader among many other similar brands.
Since its very first days Hyleys has been offering products which will satisfy the taste of any consumer,” Koba Metreveli said, Director of Everest 2010, a distribution company that imports Hyleys Tea to Georgia.

While initially only the detox tea from Harmony collection was sold in Georgia, now consumers are able to try green and black ginger, raspberry, cranberry, graviola, pomegranate, blueberry, chamomile, mint, linden, hibiscus, lemon balm, thyme and others from the same collection.

Hyleys Tea retains 100% of the original flavor of freshly picked tea, and is available in almost all supermarkets in Georgia and PSP and Aversi pharmacies.

Currently fifty different types of Hyleys Tea are imported to Georgia, while the brand produces more than 200 varieties of tea overall.

Metreveli said that Hyleys British collection is more popular than other collections both in Georgia and abroad.

“Hyleys has become popular around the world thanks to the British collection, which is pure black Ceylon tea, hand-picked, without additives,” Metreveli stated.

Since its inception in 1997, Regency Teas LTD has been packing tea under its flagship brand Hyleys.

The wide range of teas in the Hyleys portfolio includes classic black and green, and specialty blends with various flavors and herbs.

The company obtains these blends from various countries worldwide and is one of the few tea exporters in Sri Lanka to have its own cold storage facility specifically for herbs.

Hyleys recently launched several teas consisting of 100% natural ingredients in stride with the latest global consumer trends.

These innovative products have special packaging and unique customer appeal, adding further value to ‘taste and health’ aspects.

Regency Teas exports to over 25 countries worldwide and its strongest presence is in North America and Eastern Europe.

On the manufacturing front, the company operates a production plant of 90,000 square feet with modern infrastructure, tea packaging machinery and highly skilled staff.

Annually, the factory produces 3,500 metric tons of tea under strict Food Safety Management Systems and guidelines.

The plant is certified through the Sri Lanka Tea Board and Bureau Veritas for Good Manufacturing Practices (GMP), ISO 22000 and FSSC 22000, which is a recognized body of the Global Food Safety Initiative (GFSI).

The company is also licensed to manufacture products certified by kosher and organic bodies.

Read more

Element Holding: Capable of Undertaking Construction Projects of Any Complexity

With ten companies involved in the construction sector, parent company Element Holding has cemented itself on the Georgian market as one that can undertake projects of any complexity with total quality assurance.

The scope of activity of the daughter companies covers such important areas as floor technologies, electro-mechanical engineering systems, production of steel structures, sandwich panels, waterproofing systems, dry construction mixtures, consulting services in labor safety and quality control, construction materials and light equipment, construction equipment and inventory rental-shipping, etc.

The company continues to develop not only on the local market but also abroad by establishing ALL-P UZBEKISTAN, a member of All-P GROUP, which in turn is a member of Element Holding.

Chief Executive Director Zakro Ebelashvili says that ALL-P UZBEKISTAN was founded in 2022 and is currently working on a “number of projects” there.

Ebelashvili believes that 2022 was a “distinguished year” with several innovations.

“We undertook the first large-scale production of precast, reinforced concrete structures in Georgia. This created unprecedented opportunity for construction companies to manage the construction process with reduced costs and improved quality," he said.

Q. Element Holding has won the Golden Brand award for its contribution to the Georgian construction market. Let’s talk about the company’s contribution to the sector.
A. The development of the construction industry in Georgia is part of the strategic goal of Element Holding. This award confirms that we have successfully completed this important task. Of course, we will continue activities that will benefit the construction sector in the future, as this is a continuous process for our company. The recognition of our efforts by Golden Brand is an additional incentive to be more active in the field, which in turn has a great influence on the country's economy.

Element Holding is doing projects in several strategic directions in the construction sector. Companies included in the Holding systematically introduce innovative services and products in the Georgian construction sector. Thanks to the services offered by our companies, we've been able to bring foreign companies here. Innovations in the field of construction create favorable conditions for the activities of various sectors and, accordingly, influence the development of many industries.

To strengthen the field, Holding systematically shares knowledge and experience. For example, we are currently involved in a mentor program with construction material manufacturers operating in the regions.

Through this program we are involved in everything from obtaining new qualifications to helping technical colleges.

For the development of the field, we foster the innovative ideas of young architects and encourage them to establish modern visions. We have been supporting the Tbilisi Architecture Biennial for years.

Q. Please introduce us to the companies with which the history of Element Holding begins.
A. The first company was founded in 2007 – ALL-P GROUP - whose main activities were industrial flooring and waterproofing systems, which includes troweled concrete surface floors, polymeric floors, flexible flooring covering, textile flooring coverings, flat roofing systems, and construction of houses. ALL-P GROUP brought terrazzo, Vetrazzo, and rustic floors to Georgia for the first part, and mechanized flooring underlayment.

Our success in various niches gave rise to new ambitions. Thus Element Construction was created, which operates in the field of industrial, hydrotechnical and civil construction. Element Construction's many projects showed us the need for more niche companies with modern services, the shortage of which was clearly felt in the Georgian construction sector. Today Element Holding offers customers an unprecedented complex service.

There is also ALL-P METAL, a steel structure fabrication plant with all the necessary equipment. The company offers customers manufacturing and installation of bridge cranes, and if necessary, restoration. ALL-P METAL services include installation of sandwich panels. In addition, the company manufactures tin accessories and is responsible for their installation. The services include the production of metal molds of any complexity and purpose.

Another successful member of Element Holding is TFOX, an importer of construction equipment and materials in Georgia. With premium quality brands, energy-efficient building materials, and a wide selection of industrial machinery, it creates a continuous and stable supply chain for the B2B sector. It is the official representative of such manufacturers in Georgia as the Swiss company SFS, the Turkish industrial equipment brand OSCAR, and the German industrial equipment manufacturer WEBER MT. TFOX has gained the status of the official representative of OSCAR and WEBER MT in the Caucasus region.

Founded in 2022, Zerone is a new daughter company of the Holding, offering customers the design, installation and service of electro-mechanical engineering systems.

Spec Rent is also a member of the Holding. It offers customers construction equipment and inventory. The company's service also includes shipping.

Labor safety and construction quality control are important for the construction field, which is provided by the consulting company Experts For Solutions.

The first Georgian dry mixture company Formula is a member of the Holding as well. It is equipped with the latest technologies, machinery and a modern laboratory.

Gianelli is a particularly interesting subsidiary of Element Holding. It creates unique work using concrete and fiber concrete. Gianelli is fully versed in modern architectural approaches and quality characteristics. The vision of the brand is also reflected in the products, which are made from recycled, eco-friendly materials.

Q. How would you describe the construction sector of Georgia? What are the challenges the companies are facing?
A. Statistics show that the construction industry in Georgia is growing. The development of the sector is directly related to the economic development of the country and the employment rate.

There are many players in the market. All of them must adjust to international standards, which means not only quality control of materials and construction, but also systematization of the entire process.

As for the business environment, I think today Georgia offers quite flexible conditions to the local business sector and international investors as well.

Q. Element Holding is involved in creating and improving professional programs in the field of construction. Why are such initiatives important for the sector and why is it interesting to your company?
A. This initiative was preceded by a study of the requirements of the construction market by Element Holding. This included the assessment of recruitment statistics in the construction sector, identification of a lack of labor competence and skills, and the identification of the most in-demand and scarce personnel.

Research findings are important, evidence-based information. It is the basis for making changes to our action plan, reporting and monitoring processes. Data is shared with stakeholders, which will increase access to quality education in the construction sector in the short and long term.

Element Holding continues similar activities based on the company's strategic goal - to contribute to the sustainable development of the construction sector and the country's economy.

Read more

Business Radio Station Commersant Reveals First AI-Generated Reporter

Georgia’s first business radio station Commersant has once again become the first in the field by introducing an AI-generated reporter.

“Our project Aria is created entirely by artificial intelligence. Both the text and the visuals of Aria are generated by neural networks,” Director of Commersant Goga Samushia told Golden Brand.

Below Samushia talks about the latest developments at Commersant and appreciates partnership with the country’s most prestigious and influential business award ceremony, the Golden Brand.

Q. What are other developments at Commersant?
A. Commersant maintains the position of one of the main business media in Georgia. We are the first business radio in the country, soon to celebrate our fifteenth anniversary. In the course of this time we have established a reputation as authoritative, objective and cutting-edge media.

We have a new editor-in-chief at Commersant. Journalist and executive director of the NGO Media and Communication Educational and Research Center, Teona Tshomelidze, joined our team several months ago.

Among the already successful projects at Commersant, I can mention Brand Georgia and Neyron. Levan Koberidze and Levan Bodzashvili are headliners in their field.

We have also updated our website, which, in addition to the new design, meets all modern technological requirements.

Q. How developed is the radio sector in Georgia and how much has Commersant contributed to this process?
A. In the era of digital technology and the internet, radio remains one of the essential components of media. Although there are many radio stations in the country, the role of Commersant is particularly important because we have been the only business radio station in Georgia for almost two decades.

We create unique content for radio, which is important and interesting not only to ordinary listeners, but also for the business sector.

Q. What are the challenges in the radio sector currently?
A. The main problem of the sector in Georgia is the small advertising market. Increasing competition with social media platforms is also a challenge.

We found a solution by fully integrating the radio with our website and social platforms. This gives us the opportunity not to be limited only to radio broadcasting.

My main recommendation is that radio broadcasters should adapt to the modern digital world.

Q. Last year, the total commercial advertising revenue of TV and radio broadcasters decreased by 7.6% compared to the previous year ⁠— 79.9 million GEL. Is this related to the ban on gambling advertisements?
A. The ban on gambling advertising was indeed a significant loss for the Georgian advertising market. Commersant is no exception, and after these changes our advertising revenues also decreased.

In addition, as I have already mentioned, social media platforms have become an important competitor for traditional media. This is one of the reasons for the decrease in commercial advertising revenues of TV and radio broadcasters this year.

Q. Commersant is a partner of Golden Brand. Why doesCommersant support this event?
A. Supporting the Golden Brand has become a tradition for us. This partnership is particularly important given our profile, which is business radio holding.

This award is a kind of summary of the year with all our partners. The existence of the Golden Brand is very beneficial for Georgian business. This is an incentive to create more brands, more projects and more businesses. That is why Commersant Media Holding has always been and will remain a supporter of this award ceremony.

Read more

About Us

The brand popularity is revealed by the preliminary survey making key focus on creative branding-related solutions. Entrees are judged by about 100 experts. Nominee brands are selected by awareness, popularity as well as by their creative advertising campaigns.

The winners will be granted with diplomas and Golden Brand Statue. The event will be broadcasted via television, radio, printed and online media.


Financial Stories

The FINANCIAL -- The world’s most successful ...
The FINANCIAL -- Georgian Bakery Ipkli has ...
The FINANCIAL -- The European Investment Bank ...