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Otiko warehouse stockpiles down 40% in Q2

The stocks of finished products at the Belarus-Germany joint venture Otiko decreased by 40% in Q2 2009, Director General of the company Galina Belevich told.

Beginning 2009, the company sold as much as it produced. The enterprise also managed to sell some of its footwear manufactured last year. According to the Director General, the stockpiled products are to reduce considerably by autumn 2009.

In 2009, Otiko footware company was the first in Belarus to produce women’s sandals using molding technique, widely applied by footwear producers in Europe. This method is also used to produce men’s footwear.

In H1 2009, the sales of summer footwear increased by 12% as against the same period last year. Sales at the domestic market grew by 12% in money terms. Export of products to Russia reduced by 2% in physical terms, while increasing by 8% in money terms.

Galina Belevich also said that 92% of the footwear in stock was produced in 2009, the remaining 8% in 2008. It attests to the constant renewal of the company’s product portfolio. The footwear is made of genuine leather.

Otiko was established on the basis of the Luch company with the participation of Bobruisk tannery in Minsk in 1993. Belarus holds the controlling interest of the joint venture. The enterprise employs more than 600 people and is part of the Bellegprom concern.

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