Zsolnay shop opens in Moscow; export expansion ahead
Bachar Najari, the new owner of Zsolnay Porcelánmanufaktúra Zrt, is looking to turn the longstanding crafts producer into a world-class brand by beginning exports to markets such as the U.S., U.K., Russia, China and Japan.
Najari revealed his plan on Tuesday upon opening a Zsolnay shop in Moscow, and stated that his Russian business partner would be visiting Hungary in October to officially launch the international export venture.
“It’s not everyday Zsolnay gets the chance to appear on Red Square,” said Najari. “Any company would be grateful for this opportunity.”
Najari bought a 74.5% share in Zsolnay in February for HUF 180 million from the city of Pécs -- a deal finalized with payment at the end of August -- and reportedly plans to invest another HUF 500 million in the company.
Originally founded by Miklós Zsolnay in 1853, Zsolnay Porcelain had become the single largest company in Austro-Hungary by 1914. After suffering destruction in a World War II bombing run, the company was nationalized in 1948, eventually returning to private enterprise status run by the city of Pécs in 1982. Despite signing a reported €9 million deal with IKEA in 2009, financial woes forced the township to launch a tender earlier this year.
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