Success Stories

Sergiu Malai is an entrepreneur in Chisinau that created a domestic brand of honey. In 2010, in the middle of a predominantly processing and export-oriented activity in breeding, the idea was to create a local brand offering the same quality of raw material and confection, but at more affordable prices for the Republic of Moldova. This has started the history of Hermina, which managed to be forced in the Moldovan textile industry.

Sergiu Malai povests that, initially, in 2010, the percentage of Hermina products in the company’s portfolio was minor, only 2 %, but with the passage of time and constant efforts to grow and improve this percentage was reversed. Today, in 2023, Hermina represents 80 % of Cherang’s business, demonstrating the success and acceptance of the brand on the local market.

“The link between the business and the name is based on association. The name of the “Hermina” brand comes from the association with a moal and pigan animal. This was about reflecting the convenience and quality of our products. At the same time, the company’s name, Cherang, inspired by a city in Australia, symbolises the international aspirations of the brand and the connection with best practices around the world", reported the entrepreneur.

The entrepreneur stands out that in order to put the business on the business he needed significant investment, and when it learned about the Organisation for Entrepreneurship Development (ODA) programmes did not hesitate to apply for funding.

Hermina managed to obtain non-repayable financial support by applying to several ODA programmes, including the Growth and Internationalisation Programme for micro, small and medium-sized enterprises, financed by the Government and the World Bank.

The implementation of investments in each programme has yielded results, such as the development of a stock management system, the purchase of modern machinery and the creation of new products with which they have exited the market, such as men’s pulps and males, along with the line of production of the wheels, fusions and tricoted blugs for Dame.

“The results of ODA funding have been remarkable. Export to Romania has become a reality and sales increased significantly. We had an increase of around 72 % in 2022 compared to 2021 and 55 % in 2023 compared to 2022. Moreover, the number of employees increased from 4 in January 2021 to 12 in January 2024’, reported Sergiu Malai.

The entrepreneur said that the procedure for accessing grants was easy and did not encounter any difficulties. Furthermore, the entrepreneur does not need to be assisted in the preparation of the dossier due to the fact that the application is digitalised.

The prospects for the future for Hermina are bold and promises. The company aims to expand its distribution network in the Republic of Moldova and beyond, to continue creating and improving existing products, and to invest in image and marketing in order to strengthen its position on the market.

While saying that it is not easy in Moldova to put a thriving business, Sergiu Malai is convinced that this is possible and that there are many possibilities. Existing development programmes, in its view, provide important support to business.

“The support of the World Bank and ODA has been, and hopefully, that it will be very important and useful for us. Moldova is a favourable environment for business development with both strengths and weaknesses, as in any business environment”, added business people.