Riga Black Balsam® line of beverages showed steady growth in domestic and foreign markets sales last year, compared to Year 2015. In international markets outside the Baltic brand’s sales volume last year increased by 20%, while in domestic market Year 2016 ended up with a 6% growth in sales – inform the global brand director Maris Kalnins. He notes that this substantial growth is based on purposeful teamwork in promoting Latvian most unique brand and working with different customer audiences in their local and more than 35 overseas markets.
“Riga Black® notes this year 265th anniversary since the recipe of the legendary spirit was created. The number of Riga Black® fans is growing every year, as evidenced by the rise in sales volumes. We are particularly pleased about the growth in international markets outside the Baltic countries by more than 20%, taking into account the limited marketing budgets we operate with in comparison to our biggest competitors. This gives a basis to set ambitious targets in the future, “says brand manager and detects target – the target of next five years is to double the market share of the product in the world.
In Latvian market “Riga Black Balsam®” ended last indicating a 6% increase in volumes against 2015.