Business news from Ukraine

JYSK opens two stores in Odesa and Poltava

The international chain JYSK is opening two stores: a new one in Odesa in the Mercury shopping center (99v Semena Palia Street) and an updated one in Poltava in the Kyiv shopping center (6/1a Zinkivska Street), the retailer’s press service reports.

“Despite all the challenges, anxieties, and even power outages, JYSK is expanding its network to 96 stores in Ukraine. I would like to thank the team of both stores for their work!” says Country Director of JYSK Ukraine, Yevhen Ivanitsa, commenting on the opening.

In the renovated store in Poltava, the sales area (from 900 to 1150 square meters) and warehouse area (from 225 to 309 square meters) were increased, office space was renovated and a separate room for employees was created.

The store opened in Odesa is the sixth JYSK store in the city. It has a selling area of 1078 square meters, a warehouse of 247 square meters, and an office space of 40 square meters.

Both stores are part of the 3.0 concept, which includes better spot lighting, more modern design and a more comfortable zonal arrangement of goods for customers.

The company has already announced the opening of its seventh store in Odesa in the fall in the Rodos shopping center. The candidate cities for the 100th store are also known. It will be either Kalush or Kryvyi Rih in August.

Currently, there are 96 stores and the online store in Ukraine. By the end of 2024, the plan is to reach 100 stores.

JYSK has more than 800 employees in the country.

JYSK is part of the family-owned Lars Larsen Group with more than 3.4 thousand stores in 48 countries.

JYSK’s revenue in the financial year 2022/23 was EUR 5.2 billion.

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JYSK plans to open two stores in Odesa

The international chain JYSK plans to open two new stores in Odesa this year, according to JYSK Country Director in Ukraine Yevhen Ivanitsa.

“Odesa, Arcadia, Rodos shopping center. This is where the seventh JYSK store in the southern capital of Ukraine will open in the fall. Currently, there are five JYSK stores in Odesa. The sixth JYSK will open in the summer in the Mercury shopping center,” he said on Linkedin.

Currently, there are 95 stores and the online store in Ukraine. The plan is to reach 100 stores by the end of 2024.

JYSK has more than 800 employees in the country.

JYSK is part of the family-owned Lars Larsen Group with more than 3.4 thousand stores in 48 countries.

JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.

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Odesa-based Bloomi has increased production by almost 40%

Blumi LLC (Odesa), a manufacturer of sanitary and hygienic paper products under the Snow Panda brand, produced products worth UAH 149.6 million in January-April, up 38.5% compared to the same period in 2023. According to statistics provided by Ukrpapir Association to Interfax-Ukraine, in physical terms, in particular, the production of toilet paper increased by 31.5% to 18.3 million rolls.

As reported, in just four months, the major manufacturers of sanitary paper products produced 210.6 million rolls of paper, up 10% year-on-year.

Bloomi, which was registered in 2014, produces pulp-based sanitary products (toilet paper, napkins, towels) from imported raw paper. The products are manufactured at the facilities of Omega Brokers PE, one of the leading Ukrainian manufacturers of detergents, disinfectants and sanitary products.

In 2023, the company almost doubled its production volume by 2022 to UAH 367.3 million.

The company is co-owned equally (25% each) by four Odesa-based entrepreneurs.

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Major grain trader Qortia AG resumes grain exports from Odesa

International grain trader Qortia AG (Switzerland) has resumed grain shipments from Ukraine’s deepwater ports, the company reported on Linkedin.

According to the report, the company sent the vessel Bereket M (Panama flag) with a cargo of 21.5 thousand tons of Ukrainian corn from Pivdennyi port to Turkey.

“Bereket M became the first vessel this year that Qortia AG loaded exclusively by its own resources in a deep-water Ukrainian port. Since the company’s establishment, we have been actively shipping to Ukraine from deep water for six years. However, after the Russian invasion, we focused mainly on the development of river transportation and transshipment in the ports of the Danube cluster, where the company’s share reached 15%,” the statement said.

Qortia AG is a Swiss agri-trading and logistics company headquartered in Switzerland. It specializes in the purchase and export of grains (wheat, corn, soybeans, barley, etc.), oilseeds, and processed products. The Ukrainian representative office is located in Odesa. Its owners are Konstantin Kuflyk, Dmitry Yandovsky, and Andrey Vitryak.

Bereket M is a bulk carrier flying the flag of Panama. Its length (LOA) is 154.38 meters and its beam is 26 meters.

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Odesa Filatov Institute develops use of AI for diagnosing eye diseases

The Filatov Institute of Eye Diseases and Tissue Therapy of the National Academy of Medical Sciences of Ukraine will continue to develop technologies for using artificial intelligence (AI) to diagnose eye diseases, said Andriy Korol, head of the department for studying the biological action and application of lasers in ophthalmology at the clinic.

“We have now worked out diabetic retinopathy, and at the next stage we will develop in several directions. These may include specific eye diseases, retinal diseases, glaucoma, age-related degeneration, and other diseases that are manifestations of diabetes,” he said in an interview with Interfax-Ukraine.

Korol noted that another area of AI technology development that the institute plans to implement will be a system that will allow “to see the symptoms and signs of various diseases, such as hypertension, vascular changes, hereditary diseases, and a number of rare diseases.”

Korol specified that the institute will be able to “launch research on new nosologies every year and a half.”

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Odesa Cognac Factory ended 2023 with loss

PrJSC Odesa Cognac Factory, one of the largest cognac producers in Ukraine, reduced its loss to UAH 6.658 million in 2023 compared to a net loss of UAH 44.434 million in 2022.

According to the company’s report in the information disclosure system of the National Securities and Stock Market Commission (NSSMC), its assets decreased by 2.7% to UAH 989.587 million over the year, while total receivables decreased by 7.9% to UAH 575.267 million.

At the same time, the company increased its revenue by 22.8% year-on-year to UAH 1.166 billion. At the same time, the staff of Odesa Cognac Factory PJSC decreased by 45 people over the year to 300 employees.

According to the report, at the annual shareholders’ meeting on April 29, it is planned to terminate the powers of the supervisory board and make a number of changes to the company’s charter, and then delegate the powers of the current chairman of the supervisory board to sign contractual relations with the newly elected members of the board.

According to the Unified State Register of Legal Entities and Individual Entrepreneurs, Odesa Cognac Factory PrJSC is owned by Ukrainian businessman and owner of the Global Spirits alcohol holding Yevhen Cherniak.

Global Spirits is a large international alcohol holding company that unites Khortytsia Distillery (Zaporizhzhia), Odesa Cognac Factory (Odesa) and Ukrainian Distribution Company. The central office is located in New York (USA).

The holding owns more than 15 local, regional and international brands: “Khortytsia, Pervak, Shustov, Morosha, Oreanda, San Marino, Mikado, Medovukha, etc.

Global Spirits products are exported to more than 87 countries.

On February 24, 2022, Global Spirits revoked its license to manufacture and distribute its products in the Russian market due to Russia’s military invasion of Ukraine.

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