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Luminor Bank has granted EUR 250,000 financing to SIA Rock Distribution, a distributor of musical instruments and professional sound, lighting and stage equipment in Latvia and abroad. The financing will be used to ensure further expansion and uninterrupted operations of the company.
With the help of the financing granted by Luminor Bank, SIA Rock Distribution intends to continue the business growth started during the pandemic. Last year the company increased its turnover by 22% by a successful shift of the business focus and launch of a new service – supply of professional sound equipment and musical instruments to Latvian retail chains, such as 220.lv and RD Electronics.
“Regardless of the challenges, restrictions on retailers and gatherings during the pandemic which most directly hit also some of the customers of SIA Rock Distribution, the company is a perfect example of how to increase sales and keep developing one's business even in complicated conditions by adjusting to the circumstances. We are glad to support one of the sector’s leaders in its further development and encourage other companies to follow good examples,” says Ilze Zoltnere, Head of Corporate Banking at Luminor.
SIA Rock Distribution has been recognised as a high-class sound system provider at various art locations and has also developed solutions for corporate customers, hospitality and entertainment industry. This year SIA Rock Distribution will implement several major projects, such as supply and installation of equipment at Riga Stradins University, the cultural centre of Sēja municipality, the Emīls Dārziņš Music School and the New Riga Theatre. SIA Rock Distribution is also the official representative of a number of professional sound equipment brands in the Baltic states and in recent years has expanded its operations outside the Baltics – in Poland and the Scandinavian countries.
“We, SIA Rock Distribution, highly value our clients and cooperation partners and customize our offers to their individual needs. With the help of financing received from Luminor, we will be able to continue on the successful course of development in Latvia and abroad, offering not only the best prices for services but also immediate availability of innovative high-quality products and solutions,” says Edijs Rudzis, Board Chairman of SIA Rock Distribution.