Russia

Russia

Socioeconomic status:

The year 2013 has witnessed how the global crisis has spread to Russia. The economy has seen a slowdown in growth and greater uncertainty among consumers. Various economic indicators have begun to slump, and sales have dropped in the automotive sector. The Central Bank has chosen to float the ruble, thus promoting devaluation, and has simultaneously initiated an aggressive write-off process that included the closure of a large number of medium and small banks. These measures have contributed to a gradual cooling in consumption.

Business developments and prospects:

Despite the unfavorable socioeconomic context, Group sales grew significantly, bolstering its position as the undisputed leader. As part of this growth, we can highlight strong sales of imported Roca and Laufen brand products. Likewise, because of the projected demand levels, we are now committed to the expansion of the Novocheboksary plant, which improves an industrial map that is currently too saturated. These facilities have added a Roca and Jika faucet assembly plant. Group brands have broadened their presence through projects with hotel chains, outfitting Sochi Winter Olympic Games facilities and participating in the Mosbuild fair.


Relevant facts:

• Novocheboksary plant enlargement, allowing us to reconfigure our map of facilities in Russia to mitigate the risk of saturation
• Presence at the Mosbuild fair, also with ceramic tile products
• Key projects: agreements with various hotel chains and outfitting of numerous facilities for the Sochi Olympic Games