Ukrainian Lighting Company Pikart Boosts Efficiency with EBRD Support Amid War

Ukrainian Lighting Company Pikart Boosts Efficiency with EBRD Support Amid War

(IN BRIEF) Pikart Lights, a Ukrainian lighting company based in Lviv, has overcome the challenges of Russia’s invasion with support from the European Bank for Reconstruction and Development (EBRD) and the EU. The company’s investment in new moulding technology has significantly boosted production efficiency. Despite the war, Pikart continues to thrive, expanding its presence in European and American markets while maintaining its commitment to quality and craftsmanship.

(PRESS RELEASE) LONDON, 11-Sep-2024— /EuropaWire/ — Pikart Lights, a Ukrainian lighting company founded in Lviv in 2006, is overcoming significant challenges brought on by the ongoing war with Russia. Known for its bespoke chandeliers and lamps, Pikart quickly gained a reputation for combining traditional craftsmanship with modern design. As the company expanded internationally, its products became popular in high-end hotels and restaurants across Europe and the United States.

However, the Russian invasion in February 2022 brought production to a halt and disrupted the company’s growth. Despite the difficulties, Pikart’s leadership, under Andriy Chuba, adapted to the crisis by reshaping its marketing strategy and securing new projects, including a major hotel in California. The war also forced some designers to relocate abroad, expanding Pikart’s international footprint.

With the help of the European Bank for Reconstruction and Development (EBRD) and the European Union’s EU4Business Credit Line, Pikart was able to invest in a new moulding machine that has significantly improved its production process. The new technology reduced production time from five hours to just over two, boosting efficiency and cutting labor costs.

Looking ahead, Pikart Lights aims to expand further into European and American markets, confident that Ukrainian products can compete globally in quality and design.

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SOURCE: EBRD