Luminor grants Grenardi, a jewellery trader, 1.5 million euro for business development

  • 2022-03-24
  • Luminor Bank AS

Luminor banka has granted a loan of 1.5 million euro to ensure business development of Grenardi, a jewellery trader, and to provide the necessary working capital for the implementation of goals.

 SIA Grenardi is trading high class jewellery items. The company represents several well-known and prestigious international jewellery brands with exclusive rights. Grenardi has also created several of its own brands, for example, a classical diamonds collection Due, a jewellery collection in cooperation with the former State President Vaira Vīķe – Freiberga VVF Dress up Latvia, a sophisticated and modern brand Lilly Spring, jewellery collections for children, etc.

“Grenardi is the leading jewellery retail network in Latvia with an extensive offer, which it is planning to extend in the future. It is important for the company to provide its customers with the highest level of service. With the funding granted by the bank we are planning to develop it even more, including by opening new points of sale in the centre of Riga in the nearest years. We are planning to keep the bar high in customer service”, Alīna Spriņģe, the Member of the Board of SIA Grenardi says.

In 2018, SIA Grenardi separated part of its business and established a new company SIA GIVEN Latvia. SIA GIVEN Latvia already has 45 retail shops in Latvia and Estonia, and the first two shops will be open this March in Lithuania.

“For more than 20 years SIA Grenardi has been one of the main jewellery market players in Latvia. In the course of its operations the company has been growing and reached good business results, and its reputation among jewellery market players is high not only in the Baltics, but also in Europe and other countries of the world. By providing funding for opening new points of sale, Luminor support further development of the company”, Ilze Zoltnere, Head of Corporate Department at Luminor in Latvia says.

About Grenardi

Grenardi Group is a jewellery retailer, which includes SIA Grenardi owning four retail shops in Latvia and Grenardi Group Estonia OU with three retail shops in Estonia, and also an online store.

 About Luminor:

Luminor is the leading independent bank in the Baltic states and the third largest provider of financial services in the region. We provide financial services to individuals, families and enterprises. We are new, dynamic and forward-looking just as Estonian, Latvian and Lithuanian markets.