The company plans to invest the loan issued by AS Citadele banka in the development of ELVI stores
AS Citadele banka has issued a loan of 3.3 million euros to SIA Realto Mallen, part of which will be invested in the development of ELVI stores, paying particular attention to improvement of store premises and increase the level of customer comfort. “SIA Banderi S.IDE is legally related to SIA Realto Mallen. For many years, SIA Banderi S.IDE has been a franchise partner of SIA ELVI Latvija. We would like to develop our ELVI stores and offer our customers a special environment and high level service,” said the Head of Sales of SIA Banderi S.IDE Dagnija Spunde.
On 7 September 2016 SIA Banderi S.IDE opened ELVI store in Iecava. The company owns another five ELVI stores in Riga, Jelgava, Mārupe, Druva and Odziena and until the end of the year it is planned to open another store. “The company’s turnover in 2015 reached 2.2 million euros and we plan to end the year 2016 with the turnover of 6 million euros. In 2017, we plan turnover of 12 million euros, as the investments in improvement of stores are made systematically and that ensure stable growth,” said Ms Spunde. The Head of Sales says that the customer and comfort is the key priority of ELVI stores, therefore particular attention has to be paid to improvement of premises and service quality, which has been high level also before. The company takes care of its employees who are provided a good salary and motivated bonus system to ensure that employees work with enthusiasm and create positive emotions to our customers. Another priority of SIA Banderi S.IDE is improvement of premises. It is significant that the premises are owned by the company, as that guarantees safety,” said Ms Spunde. The company plans not only invest in the improvement of quality of stores but also in development of production, ensuring tasty gastronomy products and pastry cooked at the stores.
The head of the Large Enterprises Service Department of AS Citadele banka Māris Macijevskis highlights that it is especially important to support the small merchants operating in regions. “We support the plan to develop premises and open new stores. It is especially important that such projects are implemented in regions where it is significant to create new work places. Although the competition in retail sales is fierce, ELVI as a locally-owned seller has a stable position and its customers trust the brand. I am also a customer of ELVI and I am happy to see a wide range of Latvian products at ELVI stores,” commented Mr Macijevskis.
ELVI franchise includes 156 stores in Latvia. SIA “ELVI Latvija” is a holder of ELVI brand and provider of franchise that ensures successful operations of stores, provides marketing support, joint procurement, IT and sales support during the fitting-up of stores and daily operations. The turnover of ELVI network increased by 15% in 2015, compared to 2014. The company participated at the prestigious competition organised by the Traders Association of Latvia and in 2015 the retailer ELVI was awarded in the category “Trader of the year 2015 in Latvia”.