Baltic Export, Investments, Latvia, Markets and Companies, USA

As reported, at the beginning of this year, Dzintars launched discussions on the distribution of its products in U.S. retail chains, said Ilja Gercikovs, head of the company's board, in an interview with newspaper Telegraf. As Gercikovs specifies, the company explored market potentialities in cooperation with potential American partners, but there was a problem, the company was not ready to shift resources into marketing activities for realization of this goal, writes LETA.

"Of course, Dzintars could only base the sale of their products to Russian-speaking people living in America, however the company plans to capture a broader target audience, whilst at the same time making minimum investments in marketing. The plan of capturing the U.S. market has not been put on hold, however it has not been moving forward fast enough to see some results and progress. It is more likely that Dzintars new product range of exclusive cosmetics could go on sale in the U.S.," emphasized Gercikovs.

"The U.S. is very interesting for us, and our eco-cosmetic products seem very interesting to residents of the U.S.," specified Gercikovs.

Right now the company is carrying out discussion with retail chains that operate at least 2,000 shops, said Gercikovs, specifying that at least 2,000 shops are needed to plan logistics effectively and to solve other technical problems.

"Our strength is our wide range of products," emphasized Gercikovs.

The history of Dzintars began in the middle of the 19th century, when the foundations of perfume and cosmetics production in Latvia were laid. In 1849 in Riga, the Heinrich Adolf Briger Soap and Perfume Factory was established, which manufactured soaps and candles.

The founding meeting of Dzintars took place on October 19, 1991.

The company's largest shareholders are Ilja Gercikovs – 69.2% shares, and Denmark resident Janeks Vaclavs Kozeluhs – 9.3%.