New product strengthened the brand
The project, with a total value of 106.716 KM, financed the purchase of a numerically controlled (CNC) lathe machine, as well as the design, development, and promotion of new products whose production would not have been possible without this machine. The Challenge Fund financed 48.68% of this amount through the grant, while the rest represents the firm's own contribution. The project also funded participation in a trade show featuring new products (Hide & Seek containers and side tables), designed by renowned Swedish designer Monica Forster.
Thanks to this project, it has also enabled the employment of 24 new workers within the company, while it is estimated that another 10 workers will be employed through the value chains."Through this project, we have hired and trained 24 people, most of them with lower levels of education who find it difficult to find work, but also highly educated professionals. Also, thanks to investments in marketing, design and new technologies, the firm's revenues have doubled, say the company.
Otherwise, "Handicrafts" are engaged in the production and sale of hand-carved furniture and decorative items for interior decoration. Until 2015, the company was mainly doing traditional furniture for the domestic market, and in 2015, the "Craft" brand was established, combining modern design, technology, and traditional craftwork. Since then, the company has been growing rapidly, revenue has increased eightfold and today 95% of sales go to export to markets of highly developed countries.“Our products are made from natural sustainable materials with a high level of added value and are viewed globally as an example of a sustainable business model. The firm is continuously growing and expanding its distribution network in high-income countries across continents. In the next five years, we expect a minimum annual growth of 30 percent, "the company's management is optimistic.
