ICR Group Launches New REPLAY Store in Georgia, Plans Further Expansion

ICR Group has recently inaugurated a new REPLAY store in Tbilisi's "City Mall Saburtalo", with an investment of $200,000. Kakha Khazaradze, the chairman of the company's supervisory board, shared details with "Business Partner," noting that another REPLAY store is slated to open in Batumi this coming July.

By next year, REPLAY plans to have three stores in Georgia, although the location for the third Tbilisi store has yet to be determined.

Khazaradze expressed optimism about the Italian brand's reception in Georgia, though he mentioned that the sales trend from the new store would be clearer in May after the first full month of operation.

Regarding future expansions, Khazaradze indicated that no additional projects are planned for the remainder of the year, attributing this decision to the upcoming elections in Georgia and current global geopolitical tensions.

"This year, our focus was on introducing a renowned international brand. We are now awaiting consumer feedback to gauge their response to the new offerings. We have positive expectations but recognize it's a challenging period. Therefore, we're not planning any further announcements and will await the election outcomes and observe how global geopolitical issues, including tensions between Iran and Israel, unfold. Such events inevitably impact business, so we'll remain in observation mode for the time being," explained Khazaradze.