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ID number:997172
Published: 15.11.2004.
Language: English
Level: College/University
Literature: 21 units
References: Not used

At the moment the company “Simeks” is one of the largest companies on the Latvian market. The company’s annual turnover is increasing steadily and it is expanding its field of business.

“Simeks” tries to stabilize its incomes by searching and investing money into new prospective projects. About 90% of the company’s annual turnover refers to the sales department and it is not a piece of news that any sales tend to fluctuate (there is a large number of reasons for that), that is why the company endows part of its funds into less profitable and booming, but more stable business (e.g. real estate).

Currently all of the products of “Simeks” are put into the environment of intensive competition. The company does not have enough funds for large advertising campaigns in the mass media, but it uses less costly methods of promoting its products (e.g. posters, logos on vehicles, shelf positioning etc.). “Simeks” uses the strategy of promoting its brand names of the products rather the company’s name. There are many reasons for that, especially on young and unstable Latvian market (e.g. if one of the products turns out to be a failure, the company’s image will not suffer so much).

When taking a look into the company’s business portfolio and its changes over the past 5 years, it is clearly visible, that the company is very flexible and responsive to the micro- and macro-environmental changes.

Basing on said above, the company’s financial position, its strategies, policies, structure, business portfolio, history and current performance, we drew a generalized conclusion that the company is healthy, has many prospective projects and will expand in the nearest foreseeable future.
The company “Simeks” was founded in the year 1989 as a small retailer company. In the years 1993-94 the company was involved in petrol business. Later on, in the year 1995 total changes in the company’s structure took place and it was transformed into PLC “Simeks” and the firm became an active member of Latvian wholesale market. In the years 1996-97 the company began re-exporting consumer goods into Russia and other countries of the CIS.

This diverse history of business let the company gain enough funds and the members of the managerial department- enough experience to get involved into production business.

Presently, the company is one of the largest players on Latvian wholesale market. On the other hand, the company still stays involved in the import-export business of consumer goods. The company has a very wide set of spheres of business:

1.Beer brewery “Alus Avots”, which has the 6th place in the market share of Latvian beer market
2.Coffee manufacturing plant “Jaunsili”. In the year 1996 the company invested 2 million US dollars into constructing and equipping the plant, which is located near Kekava. At the moment, the plant is one of the largest, well equipped and modern in Latvia. According to some recent data, the brand “Black Coffee” holds from 8 to 10 per cent of Latvian coffee market.
3.Trade hall “Agenskalns”, which is situated in Riga. The company lets the building to be rented to shops, which offers a wide extend of products, beginning from FMCD to furniture and various technical appliances.
4.Yacht club in Jurmala, which is situated on the coast of river Lielupe and offers a wide range of services for owners of the vessels.
5.The company successfully works with importing and distribution of FMCG, prevailingly food products. The most common scheme presumes importing the goods of higher quality from western countries and distributing them on the local market to more than over 2 thousand clients, including large networks of supermarkets, wholesalers, petrol stations and smaller shops.…

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