Tuesday, April 14, 2026

Headlines

retail

The manager of SKY stores goes bankrupt

Announcing that it is unable to compete with foreign-capital supermarket chains, SIA Skai Baltija, which operates the SKY supermarket network, submitted an insolvency application on Friday, March 13, the company reports. The management of SIA Skai Baltija indicates that the company can no longer compete in the price war with the large foreign-capital retail chains. Likewise, in recent years the geopolitical situation has significantly increased operating costs. In order to […]

Online shopping has not yet outcompeted the in-person experience

Even after the holidays, in-person shopping remains an unmatched and important part of shoppers’ everyday lives, especially during sales periods, when people hurry to buy the products they need at more favorable prices, according to the results of a sociological study commissioned by Domina Shopping. The study data show that at the beginning of the year, in the so‑called “long January,” people plan their shopping during sales consciously and practically. The results indicate that food and beverage […]

Matryoshkas may not be sold only at the Central Market; at the Town Hall Square – they may.

Matryoshkas, or nested wooden dolls that were targeted late last year by Riga’s Deputy Mayor Edvards Ratnieks, have disappeared from Riga Central Market but are freely available in souvenir shops right under the nose of Riga City Council. Inc. confirmed this on site after a market vendor drew attention to this injustice. She complained that the municipal leadership “has nothing to do and only knows how to deal with […]

The financial burden is being shifted by buyers of vegetables, fruits and berries onto the suppliers

The Competition Council (KP) has completed market supervision regarding the practice of applying payment deadlines in the supply chain of fresh fruit, vegetables and berries in Latvia, concluding that buyers use their economic market power and apply unjustifiably long payment deadlines, shifting the financial burden onto suppliers. Several infringement cases have been initiated. The main objective of the market supervision was to carry out an in-depth analysis of the practice of applying payment deadlines in the trade of perishable […]

Potential not yet discovered

In recent years, Lithuanian business turnover in Latvia has become more noticeable. Data show that investments by entrepreneurs from neighboring countries in companies in Latvia, and the turnover of these companies, grow faster precisely during crises. In just the two years of Covid-19, the turnover of companies in Latvia owned by Lithuanians increased by 56%. But how are Latvians doing in the neighboring country? It was a sunny day in July when my colleague and I, delighted about […]

A top 25 million euro residential design center

An unique project is being created in Riga – Aura Quarter, which will be the largest interior, design, and home furnishing retail quarter in the Baltics. It will unite more than 60 different brands and service providers, with the total area of the buildings in the first 2 stages of the quarter reaching 15,600 m², and the third stage will add approximately another 7,000 m². The total project investment amounts to 25 million euros, with financing provided by Bigbank. Aura […]

The penalty imposed on Maxima has not yet disciplined the other retailers

The fine imposed by the Competition Council on the retailer Maxima Latvija for unfair practices has so far not affected retailers’ attitudes toward food product suppliers. This has been observed by the association Farmers’ Saeima, which had also not expected rapid changes in the relationship between suppliers and retail chains. “Maxima is not the only retail chain, and the fact that the fine was imposed on Maxima does not mean there is only one guilty party, […]

As it expands, Grenardi begins operations in the Czech Republic

Latvian jewelry retailer Grenardi Group continues its expansion outside the Baltics. By investing almost 3.5 million euros, the company is entering the Czech market, opening two jewelry stores on the main shopping street in Prague, the company reports. On November 14, a shop-in-shop format store will open its doors, combining both the globally recognized Italian jewelry brand Damiani salon and the already familiar Grenardi for Baltic customers with its wide […]

The Competition Council has imposed a 1.8 million euro fine on Maxima

The Competition Council has imposed a fine of 1.8 million euros on one of the largest food retail companies – Maxima Latvia – for unfair trading practices. The company will appeal this decision in court. “Maxima Latvia today received the decision of the Competition Council, in which the company is accused of, in certain cases, not agreeing to the commercial terms offered by suppliers. Maxima Latvia categorically disagrees with the interpretation of the Competition Council. Latvian legislation […]

The Competition Council imposes a fine of 1.8 million euros on a retailer – it is reportedly not RIMI

The Competition Council has imposed a fine of 1.8 million euros on one of the largest food retail companies for unfair trading practices. It is said not to be RIMI. For now, the CC is not providing more detailed information; this will be done at the press conference scheduled for Thursday, 6 November. RIMI public relations representative Inga Bite, in a conversation with Inc., denied that the fine had been imposed on this retail chain. Meanwhile, with Maxima’s public […]