Economy
Lithuanian food watchdog receives four complaints over needles in food
Lithuania’s State Food and Veterinary Service has received four complaints over this week on needles found in foodstuffs. […]
Maxima EN
Economy
Economy
Merger between RIMI and IKI rejected: lessons learned
At the end of 2016 Rimi Lietuva, JSC (brand – RIMI) disclosed its strategic plan to acquire full control of Palink, JSC (brand – IKI) creating the biggest network of retail market centres (stores) in Lithuania, however becoming the second player by measured turnover in retail after Maxima LT, JSC (brand – Maxima) ahead. […]
CORPORATE
Where thousands of retail employees vanished
Retail is still the most popular employment in Lithuania. However at least in the major retailers, the number of retail employees has declined by almost a tenth over the past two years. According to Sodra […]
Uncategorized
PM invites Polish retail chain to Lithuania
Lithuania’s Prime Minister Saulius Skvernelis, currently on a visit in Poland, says he sees possibilities for a Polish retail chain to come to the Baltic state. […]
CORPORATE
CORPORATE
Prosecutors drop tax evasion investigation against VP Group
Prosecutors have announced that they are discontinuing an investigation into alleged tax evasion by shareholders of VP Group, one of the biggest companies in Lithuania that owns several shopping malls and the Maxima supermarket chain. […]
Economy
Who are the richest people in Lithuania?
The weekly magazine Veidas has published its annual list of top richest people in Lithuania. For the sixth year in a row, the top spot is reserved for Nerijus Numavičius, the biggest shareholder of Vilniaus […]
Economy
Court upholds €14m anti-trust sanction against Maxima
Lithuania’s Supreme Administrative Court upheld a ruling against retail chain Maxima and the bakery Mantinga that were fined for a decade-running anti-trust agreement.
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Economy
Retail market dominated by few big retailers in Lithuania, Latvia – new study
The retail sector in the Baltic States is highly concentrated with a small number of chains controlling large market shares, particularly in Lithuania and Latvia, according to a new survey. […]
Economy
Maxima owner profits jump by 22%
Vilniaus Prekyba, the owner of Lithuanian supermarket chain Maxima, drugstore chain Eurovaistinė and the DIY-chain Ermitažas, posted profits of €101 million last year, up 22% on 2014. […]
Economy
What are Lithuanians’ favourite brands?
A new survey by TNS Emor has revealed that Lithuanians’ favourite brands are those of global internet giants. […]
CORPORATE
Oligopoly: The path to Lithuania’s current retail market
Four supermarket chains currently control almost half of the retail market in Lithuania. It took them about a decade from the mid-1990s to push out small businesses and acquire a power that politicians and economists say is unhealthy for genuine competition. […]
Society
Maxima looking to prove that Russia is behind boycott over high prices
Maxima LT, a leading retailer in Lithuania, plans to turn to the State Security Department (VSD) over next week’s planned boycott of supermarket chains that is being organized via social media. […]
Economy
Lithuania’s richest man’s taxes may go to UK
Businessman Nerijus Numavičius, Lithuania’s richest man, has officially become a taxpayer in the United Kingdom, where he resides, and can choose which country gets his tax money, 15min.lt reports. […]
Economy
6 owners remain after Maxima shareholder sells his stake
Vilniaus Prekyba Group shareholder Žilvinas Marcinkevičius has sold his 15% stake in the company to its majority shareholder Nerijus Numavičius after a court rejected an injunction request. […]
Economy
Maxima shareholder blocks sale of stake
Julius Numavičius, a shareholder of Vilniaus Prekyba group which owns Lithuania’s biggest supermarket chain Maxima, has asked a court to block another shareholder, Žilvinas Marcinkevičius, from selling his stake in the company. […]
Uncategorized
CORPORATE
Economy
Investigators probe Lithuania’s biggest retail group for alleged illegal activity
Lithuania’s Prosecutor General’s Office and the Financial Crime Investigation Service (FNTT) are conducting a probe into alleged illegal activities by Vilniaus Prekyba, one of Lithuania’s biggest business groups, and its shareholders, including Lithuania’s richest businessman, Nerijus Numavičius. Numavičious assets are worth an estimated €1.3 billion. […]