Cris-Tim plans to increase market share

Cold meats producer Cris-Tim, one of the top players on the local market, plans to increase market share by 2 percent this year, as some of its competitors might not survive the economic crisis.
The company’s President, Radu Timis, said that “this will allow producers that will remain on the market to seize some of the market shares of those who will not be able to cope with the crisis, due to a shortage of liquidity.” Cris-Tim plans to reach a 20 percent market share, compared to 17-18 percent currently.

“For several years now, we have been applying various strategies to improve operations and reduce costs,” Timis, who is also major shareholder of the company, told Business Standard. He added that two of the 10 stores owned by the company were closed because they were no longer profitable. Furthermore, Timis said that if food product prices do not increase, the company will lay off part of its staff. “I think prices will remain at the current level, because otherwise they would exceed the supportability threshold, especially now, when consumers are facing financial problems,” he added.

Read more in Business Standard