"The company is at the stage of financial recovery" - Burberry’s financial performance in Georgia

access_time2023-02-03 17:10:21

The leading British fashion brand Burberry ended 2021 in Georgia with a profit of GEL 1,715,521. In 2021, the company’s income (Leader System LLC) stood at GEL 1,715,521. In the reporting period, the company owned assets of GEL 5 million.

LLC Leader System, operator and representative company of British luxury brand BURBERRY in Georgia , it also has the right to use the company's name, logotype and other trademarks.

As it turns out, most of the company's products are sold in Tbilisi. The company carried out a cost optimization in 2018-2019 and posted a profit of 870,531 GEL in 2019, however, the pandemic in 2020 and exchange rate fluctuations caused the greatest financial loss in the amount of GEL 3,092,644 to the company.

The Burberry store is located on the first floor of the Tbilisi City Assembly building on Freedom Square. The lease payment the company paid in 2021 made GEL 600,418. Administrative and other operating costs amounted to GEL 1,025,565, the company spent GEL 687,448 on salaries for the staff.

"Leader System" LLC has been operating in Georgia since 2011. The company founder and 100% owner is Hayk Khachatryan, a citizen of Armenia. The company is engaged in retail trade of construction materials, shoes, bags and clothes.


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