VILNIUS — The Stumbras alcohol producer said that it is in the process of creating a worldwide first in healthy and innovative drinks that could spark an export boom for the company.
The company usually works in the hard liquor sector, but with falling revenues domestically and little success in export markets, it needs to expand its product range. The illegal alcohol trade and rising taxes have contributed to their loss in [private_supervisor]revenue. The losses in revenue have even forced the company to cut the working week down to four days for all employees.
The company plans to spend around 3 million litai (€870,000) on the research in conjunction with scientists at the Kaunas University of Technology for the new range of beverages, which will be called “Nature” for the time being.
“This is just the first stage. We will develop some strategy for what to do later. This could be strong drinks or soft drinks and we will know only after this research in the technology and then in market research,” Stumbras spokeswoman Vaida Budrienė told Baltic Reports. “We are only just starting with Kaunas University. We know this line will be called ‘Nature’ and it will be very natural.”
The company doesn’t think that the domestic market will help it grow for the foreseeable future.
Just 12 percent of its production is sold abroad presently, a figure they want to increase.
“The problem is that we aren’t unique. We can compete with other international players, but we aren’t so big and so unique. With this product we will be the first in the world and we think it will help,” Budrienė said.
The company, which is owned by Darius Mockus’ MG Baltic isn’t looking at the region alone, but at the entire world.
“We are thinking that it will be mostly for the export market for third countries like the U.S.A. We want to be able to say that we are an original product.”
The product will take at least two years to design and then after another few years of market research and packaging and pricing research, the product could be launched, Budrienė said.
It is estimated that the new range will hit the shelves within five years.
The university said the product will show off the abilities of Lithuanian scientists to the world.
“Our technological base gives access to innovative solutions worldwide. This project is a long and very wide, so we do not only challenge, but also it is an opportunity to show the uniqueness of Lithuanian education and capacity,” Kaunas University of Technology Science Rector Rymantas Jonas Kažys told Verslo Žinios. [/private_supervisor] [private_subscription 1 month]revenue. The losses in revenue have even forced the company to cut the working week down to four days for all employees.
The company plans to spend around 3 million litai (€870,000) on the research in conjunction with scientists at the Kaunas University of Technology for the new range of beverages, which will be called “Nature” for the time being.
“This is just the first stage. We will develop some strategy for what to do later. This could be strong drinks or soft drinks and we will know only after this research in the technology and then in market research,” Stumbras spokeswoman Vaida Budrienė told Baltic Reports. “We are only just starting with Kaunas University. We know this line will be called ‘Nature’ and it will be very natural.”
The company doesn’t think that the domestic market will help it grow for the foreseeable future.
Just 12 percent of its production is sold abroad presently, a figure they want to increase.
“The problem is that we aren’t unique. We can compete with other international players, but we aren’t so big and so unique. With this product we will be the first in the world and we think it will help,” Budrienė said.
The company, which is owned by Darius Mockus’ MG Baltic isn’t looking at the region alone, but at the entire world.
“We are thinking that it will be mostly for the export market for third countries like the U.S.A. We want to be able to say that we are an original product.”
The product will take at least two years to design and then after another few years of market research and packaging and pricing research, the product could be launched, Budrienė said.
It is estimated that the new range will hit the shelves within five years.
The university said the product will show off the abilities of Lithuanian scientists to the world.
“Our technological base gives access to innovative solutions worldwide. This project is a long and very wide, so we do not only challenge, but also it is an opportunity to show the uniqueness of Lithuanian education and capacity,” Kaunas University of Technology Science Rector Rymantas Jonas Kažys told Verslo Žinios. [/private_subscription 1 month] [private_subscription 4 months]revenue. The losses in revenue have even forced the company to cut the working week down to four days for all employees.
The company plans to spend around 3 million litai (€870,000) on the research in conjunction with scientists at the Kaunas University of Technology for the new range of beverages, which will be called “Nature” for the time being.
“This is just the first stage. We will develop some strategy for what to do later. This could be strong drinks or soft drinks and we will know only after this research in the technology and then in market research,” Stumbras spokeswoman Vaida Budrienė told Baltic Reports. “We are only just starting with Kaunas University. We know this line will be called ‘Nature’ and it will be very natural.”
The company doesn’t think that the domestic market will help it grow for the foreseeable future.
Just 12 percent of its production is sold abroad presently, a figure they want to increase.
“The problem is that we aren’t unique. We can compete with other international players, but we aren’t so big and so unique. With this product we will be the first in the world and we think it will help,” Budrienė said.
The company, which is owned by Darius Mockus’ MG Baltic isn’t looking at the region alone, but at the entire world.
“We are thinking that it will be mostly for the export market for third countries like the U.S.A. We want to be able to say that we are an original product.”
The product will take at least two years to design and then after another few years of market research and packaging and pricing research, the product could be launched, Budrienė said.
It is estimated that the new range will hit the shelves within five years.
The university said the product will show off the abilities of Lithuanian scientists to the world.
“Our technological base gives access to innovative solutions worldwide. This project is a long and very wide, so we do not only challenge, but also it is an opportunity to show the uniqueness of Lithuanian education and capacity,” Kaunas University of Technology Science Rector Rymantas Jonas Kažys told Verslo Žinios. [/private_subscription 4 months] [private_subscription 1 year]revenue. The losses in revenue have even forced the company to cut the working week down to four days for all employees.
The company plans to spend around 3 million litai (€870,000) on the research in conjunction with scientists at the Kaunas University of Technology for the new range of beverages, which will be called “Nature” for the time being.
“This is just the first stage. We will develop some strategy for what to do later. This could be strong drinks or soft drinks and we will know only after this research in the technology and then in market research,” Stumbras spokeswoman Vaida Budrienė told Baltic Reports. “We are only just starting with Kaunas University. We know this line will be called ‘Nature’ and it will be very natural.”
The company doesn’t think that the domestic market will help it grow for the foreseeable future.
Just 12 percent of its production is sold abroad presently, a figure they want to increase.
“The problem is that we aren’t unique. We can compete with other international players, but we aren’t so big and so unique. With this product we will be the first in the world and we think it will help,” Budrienė said.
The company, which is owned by Darius Mockus’ MG Baltic isn’t looking at the region alone, but at the entire world.
“We are thinking that it will be mostly for the export market for third countries like the U.S.A. We want to be able to say that we are an original product.”
The product will take at least two years to design and then after another few years of market research and packaging and pricing research, the product could be launched, Budrienė said.
It is estimated that the new range will hit the shelves within five years.
The university said the product will show off the abilities of Lithuanian scientists to the world.
“Our technological base gives access to innovative solutions worldwide. This project is a long and very wide, so we do not only challenge, but also it is an opportunity to show the uniqueness of Lithuanian education and capacity,” Kaunas University of Technology Science Rector Rymantas Jonas Kažys told Verslo Žinios. [/private_subscription 1 year]
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