Yerevan /Mediamax/. Competition increased in the markets of Russia, Ukraine and Belarus, “as a result of which “ArArAt” cognacs consolidated their positions”.

Mediamax reports that General Director of Yerevan Brandy Company (YBC) Ara Grigoryan said this in an interview to “Itogi” magazine.

“The crisis, unfortunately, did not bypass us and, I will not hide that the year of 2009 was quite difficult. Over 70% of production export is realized to Russia, and if we add Ukraine and Belarus as well, it will make 90% all in all. Such volumes not only influence the general picture, but also form it. These markets strongly reacted to the financial-economic difficulties. However, I cannot but note the fact that this very crisis played also a positive role. Competition increased in the market, as a result of which “ArArAt” cognacs consolidated their positions. Concerning the corrections, I think tat the situation in the crisis period first of all highlighted the necessity to diversify the markets. In reality, the issue of expanding export geography was always on the agenda, but the achievements in traditional markets distracted from search of new ones”, Ara Grigoryan stated.

He noted that from July to December, YBC sales reduced by 30%, “while in general this index is higher in the republic”.

“In such periods, one is forced to mobilize the strength and wait until the difficulties are over. I am sure that the crisis is not as much a financial, as a mental phenomenon. I would not like to beat the gun, but in general the sale indices for “ArArAt” cognacs as of the end of 2009 allow making a transition to careful optimism”, Ara Grigoryan stated.