New brands drive Cristalex business up 58%

Cristalex, one of the leading players on the market of imported spirits, posted a 58% turnover growth in the first half of this year, reaching some 5 million euros, given the expansion of its portfolio with new brands, bought internationally by the company’s suppliers. “Starting January 1, we added new brands to our portfolio, among which Teacher’s, Sousa, Tullamore Dew and Carolans, which led to an increase in company sales,” stated Dan Ursu, general manager of Cristalex. For this year, the group estimates its sales will be worth up to 12 million euros, an increase from 2005, when it reported sales worth 8 million euros. The increase in excise taxes this year hurt the spirits market, with most players making efforts not to increase the prices of products. “The increase in excise taxes and the vice tax come at an inappropriate time, six months before the elimination of customs duties that will push down the price of imported products by 10-15%. A current 10% increase in prices would have confused consumers, therefore, through deals closed with our suppliers and with company resources, we managed to maintain the same prices,” said Ursu.