Business
Posted:
2 years ago
Altersocks Temporarily Suspends Investment Plans
The investment plans of the Georgian company "Altersocks" have been temporarily postponed.
According to the co-founder of the company, Rezi Beselashvili, since the company is constantly focused on growth and innovations, it was planned to expand the network of stores and go to the regions, as well as to increase the range of products.
He stated that today's situation in the country and region does not give a sense of stability, which hinders the decision to reinvest.
As for the sales, the company's revenues are now returned to pre-pandemic rates, however, due to increased costs, profits have been dramatically reduced.