Noblewood Group started operations in Montenegro in 2022. Since then, its business activities in the country have been rapidly progressing. The company creates jobs with favorable working conditions and contributes to the sustainability of the local economy and the welfare of society by investing significant funds in its facilities and supporting various charitable initiatives. Oleg Medoev, the Group’s Executive Director, shared about its accomplishments and plans for the next few months.
Noblewood and Montenegro Make a Good Match
It is no coincidence that the company opted for Montenegro. They share a lot in common.
First, both consider environmental protection one of their high priorities. This aspect is fixed in the Montenegrin Constitution. The Group tries to consume energy and water as rationally as possible. It holds a HAASP certification validating its compliance with safety norms. Unbiased experts systematically conduct audits to make sure the organization meets the certification criteria. The in-house research and development division comes up with suggestions to make the production practices even more environmentally friendly.
The second aspect in which the official Montenegrin position coincides with that of the Group is their desire to attract solvent foreign audience. The country makes a substantial income from international tourism. The same public who loves Noblewood’s bestseller Beluga enjoys spending vacations at the local resorts.
The Noblewood company organizes extensive global marketing campaigns to promote both its beverages and their Montenegrin origin. The Group’s advertisements are published in monthly editions of leading magazines and specialty publications dedicated to the beverage industry. Large banners are displayed on European boulevards and at airports.
Noblewood’s flagship product, Beluga, benefits from being produced in Montenegro. Access to clean water from artesian wells and the local sourcing of all plant materials eliminates the need for imports. The distillery in Latvia regularly receives fresh grain spirits for production. Due to the high quality of all the ingredients and the strict control over all production stages, the final product is remarkably pure.
The product range includes multiple expressions. They differ by such parameters as concept, flavor and production method. The place of origin is indicated on every bottle.
Investment Statistics
Noblewood’s CEO named some numbers displaying the company’s financial involvement in the Montenegrin economy.
To buy the facilities, the Group spent approximately 11 million euros. Almost 50% of this sum has accounted for taxes, salaries and other expenses of the same category.
The newcomer largely relies on the local labor force. The company invested 2.4 million euros in renovating and reconstructing its properties. Funding transferred to suppliers of packaging materials and other consumables has amounted to 3.3 million euros.
The Group supports the local community by providing financial assistance. It has taken part in fundraising to order mammograms for the Tivat Health Center, donating 4,000 euros for this purpose. The company has also paid for festive lighting in the streets. The management of Noblewood strives to maintain good relations with the local authorities in both Tivat and Nikšić through support and investment.
Short-Term and Long-Term Goals
Oleg Medoev revealed Noblewood’s goals for the near future. The company is actively working on expanding its product range and is planning large-scale promotions for its new drinks. The Group’s products will enter new markets.
With the upcoming addition of new brands of gin, rum and bitters to the company’s portfolio and, consequently, an increase in production, Noblewood Group will require more manpower over time. This will provide the local population with new employment opportunities.
In the long term, the company will remain committed to the principles of transparency and openness. At the end of 2023, it welcomed a group of mass media representatives, giving them a chance to directly inquire the top management about company’s operations and future plans.
Noblewood Group will continue to develop its expertise and create a skilled and professional workforce, thereby opening doors for other luxury and spirit companies to hire them and conduct their business operations in Montenegro.
