Post on 27-Dec-2015
• Who is Virtus
• First steps on the Lithuanian market …. experiences
• First conclusions … do’s and don’ts
Core business and values
• Virtus realizes “custom made” interiors mainly for the retail sector
• We try to achieve an optimal balance between design, functionality, production efficiency and choice of materials in combination with a flexible and cost-effective implementation.
Our strengths….end to end project management
•Technical (drawings) preparation •Projectmanagement •Sector knowledge•Flexibility•Modern and performant production lines•Ambitious and skilled production and assembling teams
Location
• Situated in Mechelen since 2002• 800 m² offices and showroom• 7000 m² production space • 7000 m² storage• 75 collaboraters• Turn-over of 11,0 Mio€ in 2014
A few of our customers..
Brantano, JBC, Damart,Krëfel,…Telenet, Base,Pizza Hut, lunch Garden, Leonidas,,, Q8,…., Fun, BricoPress shop, Sweet paradise, Colruyt,…..Elewijt center, Bulo,.. ING,
WWHY
First steps in LT
• our competitor(s)….
• Visit companies specialized in wood and/or metal production
• The right local contact(s)…Agent…
WWHY
First steps in LT
• Visit our competitor(s)….
• companies specialized in wood and/or metal production
• The right local contact(s)…Agent…
WWHY
First steps in LT
• Visit our competitor(s)….
• Visit companies specialized in wood and/or metal production
• The right local contact(s)…Agent…
First steps in LT
A lot of potential partners for
metal or wood productions, but ….,
•Do we speak the same (technical) language ?
•What is their speciality,
what are they good at ?
•Prices ?
•Production capacity ?
•Quality norms ?
->Proto-types
First steps in LT
Production partners around main cities as Vilnius and Kaunas , and other regions…
•Distance from the airport…
•Purchase price…
•Company structure…
•Communication,quality,follow-up..
WWHY
First steps in LT
Production split B & LT …..
•Flexibility…………………………..N•Wood & Metal……………………..Y “laminates,massive wood,(hand made) metal parts”•Custom made Y/N “Recurrent orders”
Today 5% of wood and metal production of Virtus is outsourced to LT
WWHY
First steps in LT
Accessories & side products •Textile•Furniture fittings•Glass / Plexy
15% of these articles are purchased in LT
WWHY
First steps in LT
•purchase prices …………. production : raw material + 1/3 manhour side products : 30 to 70% cost price advantage •Paiement conditions…. 50 % prepaiement – 50% before delivery
WWHY
First steps in LT
• a local agent / projectmanager• Research / Visits • Be very specific• Presence• Respect of planning• Proto-types• Quality control
WWHY
First steps in LT
Own production company or working with partners ?
•Volumes•Standard / custom made / recurrency•Frequency•…
Today…Working with LT partners is the best option for Virtus
WWHY
First steps in LT
Company typeLiability capital
Shareholders or members Remarks
Private limited liability company(UAB) Limited
Minimum (€2896.20)Divided into shares
Up to 250 shareholders. Shareholders are natural persons or legal entities
Most common company type.
Creation of a company (costs, what form, ….)
•Among many different company forms the most popular one is : Private limited liability company(UAB)..
• VILIT-Solutions – trading company with office in Vilnius
• 2 independent contractors : Administration / Project manager
• Total cost : 25K€ / y
First steps in LT
• Lithuania is the easiest place for business among the Baltic states.
• Lithuania is strategically located as the gateway between important markets.
• Transport center with links to Europe and Scandinavian countries
The Lithuanian market…Key advantages For Virtus
The Lithuanian market…Key advantages For Virtus
• Lithuania imposes low corporate taxes • Labor and secondary costs such as accountancyand office space, are among the lowest in Europe
• Production opportunities and partnerships
• Good conditions also for lower volumes
• Proximity and low transport costs