April 21, 2021

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Asbis lands in Latvia

by Stuart Wilson, Wednesday 7 May 2008

Emerging markets distribution powerhouse Asbis has accelerated its international expansion with the launch of a new sales office in Latvia, boosting the company’s presence in the Baltic markets. Asbis Latvia will supply a wide range of IT products from a number of world class vendors to the local reseller community from its new sales office.

“The opening of the Latvian office is yet another step in our strategy of expanding our footprint on the Central and Eastern European markets. We want to play an active part in the growth of the Latvian market, which in our opinion has a good potential having increased by around 20 percent in 2007 alone. We will also offer Asbis’ high-margin private-label products under Prestigio and Canyon brands, strengthening their position in our portfolio,” said Siarhei Kostevitch, Asbis Group’s CEO.

The new entity, SIA Asbis LV, is a 100% wholly owned subsidiary of the Asbis Group. With a presence in Latvia, Asbis now has offices in all three Baltic countries: Latvia, Lithuania and Estonia. Following on from Asbis recent foray into the market of Bosnia and Herzegovina, the opening of the new Latvian office means that Asbis now has sales offices in 25 countries.

Asbis Latvia’s six-strong local team, office and warehouse is centrally located in the country’s capital Riga. Asbis had previously supplied Latvian customers from offices in neighbouring countries. Asbis claims that the opening of the office in Latvia will enable it to offer more convenient logistics solutions and wider product availability to its local customers.

According to local estimates cited by Asbis, the volume of Latvia’s PC market in 2007 amounted to approximately 150,000 units, with notebooks accounting for between 40% and 45% of total shipments. Latvia has around 2.3 million residents with the overall IT market growing at approximately 20% year-on-year.

Cyprus-based Asbis has more than 900 employees and 20,000 customers. Asbis sales reached almost US$1.4 billion in 2007 with after-tax profits of US$18.7m. The company has been listed on the Warsaw Stock Exchange since October 2007.


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