Retail Franchise Networking »Narvesen“The management company SIA” Narvesen Baltija “in 2019 had a turnover of 68 million euros, which is 3.8 million euros more than a year earlier, the portal” Delfi “was informed by the chairman of the board of” Narvesen Baltija “Dace Dovidena.
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Currently, all 231 “Narvesen” brand outlets in Latvia are operated by independent entrepreneurs on the basis of franchise agreements.
In 2019, 10 new outlets were opened and the company’s profit was 1,578,642 euros.
“2019 has been successful for Narvesen, with retail sales growing by 6% compared to 2018, which exceeded our forecasts. The franchise system has proven itself as a stable and self-justifying business model, while Narvesen has established itself as an attractive franchise. Last year, investments were directed not only to the expansion of the network and the development of IT infrastructure, but also to the implementation of a new sales concept, thus refreshing both the facades and interiors of retail outlets, “said Dovidena.
During 2019, the parent company of Narvesen, Reitan Convenience, acquired UAB Keturi Rooms, which is owned by SIA Coffee Inn in Riga, represented by the cafe chain Caffeine. At the end of last year, there were 19 “Caffeine” cafes in Latvia, which were added to SIA “Narvesen Baltija” at the beginning of 2020.
“” Caffeine “is one of the strongest cafe brands in the Baltics, famous for its high quality coffee and excellent service and has just celebrated its 10th anniversary in Latvia. “We plan to further support and expand these efforts, making Caffeine even more accessible to customers not only in the center of Riga, but also in residential areas and major cities in Latvia,” Doviden continues.
Like other Latvian companies, Narvesen has been affected by the emergency situation in the country caused by the Covid-19 pandemic.
“Given the global challenges that plagued the world in March 2020 with the spread of the Covid-19 virus, it is currently difficult to predict how the situation will develop in the future. We plan revenue cuts this year and pay more attention to partners, but we believe the financial situation is stable enough to overcome a difficult year, “predicts Doviden.
Narvesen is a retail franchise network with 231 outlets in 35 Latvian cities, providing jobs for more than 800 people.
SIA “Narvesen Baltija” was registered in 1997. The share capital of the company is 10,592,672 euros. The company is owned by the Norwegian company Reitan Group, which is represented in the Nordic and Baltic countries by companies such as 7-eleven, Rema 1000, Caffeine, R-kiosk, Lietuvos Spauda and Pressbyrån.
Last year, the Reitan Group achieved a turnover of 8.65 billion euros and provided more than 38,000 jobs in Scandinavia and the Baltics.
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