Iago's Winery: Good Wine's Store in Ukraine Completely Burnt Down, With $15 Million Worth Production
The founder of Iago’s Winery, Iago Bitarishvili spoke about the possible implications of wine business amid Russia's invasion in Ukraine. According to him, Iago's Wine is presented in the Good Wine store in Ukraine, where the company periodically sents small amount of production. Consequently, he does not expect a big loss.
"The store was located in Kyiv and Donetsk. Unfortunately, the warehouse was completely burnt down, $ 15 million worth of products were destroyed. Wine culture in Ukraine was created by this company. They carried out educational activities, including seminars and festivals. We also tried to supply wine from a small assortment.", noted Iago Bitarishvili.
He also declared that it is a very difficult period for companies that were highly dependent on the Russian-Ukrainian market. It is difficult and requires large investments, however, market diversification has no alternative.
Iago's Winery currently exports its production to 11 countries: Italy, France, England, Denmark, Germany, the Netherlands, Spain, Japan, Australia, New Zealand, and the United States.