The Advice for Small Businesses program of the European Bank for Reconstruction and Development (EBRD), funded in Turkmenistan by the European Union, helped Atamyrat Sariyev, the owner of Turkmen dairy company Garagum, re-brand and develop the design of his company’s product range.
This led to the expansion and an increase in turnover of the company, the EBRD announced on Monday.
Businessman Sariyev has taken control of Garagum, previously the state-owned enterprise, as a result of its privatization.
EBRD said the dairy market in Turkmenistan is saturated – with competition everywhere, adding that establishing itself in the market is a challenge for any brand.
Atamyrat Sariyev said, “Our products are made with 100% local milk from our local cows, with minimal chemical additives,” adding that the limited awareness of the high quality of products and competitive pricing created obstacles for attracting new customers.
In order to assist Sariyev overcome this challenge and raise brand loyalty among his target consumers, the EBRD’s Advice for Small Businesses program matched the businessman with a consultant that helped him rebrand Garagum and launch new attractive packaging designs for his products.
As a result, Garagum introduced six new products to the local market. Its annual turnover subsequently increased 2.5 times and revenue increased by more than 100%.
Today, Garagum’s dairy products have gained popularity due to their affordable prices and high quality. During the past few years, the company managed to grow its market share and the volume of production. Now, Garagum aims to green his dairy business by shifting towards zero-waste production.