Veks

What Veks does

VEKS (legal name: Veks) is a Yerevan, Armenia-based B2B manufacturer founded in 1997 that produces custom wooden furniture and travertine stone products for enterprise clients. The company operates two integrated product lines: (1) Furniture Production, encompassing custom kitchens, wardrobes, fire-resistant doors, entrance doors, interior doors, tables, commodes, cribs, and stands; and (2) Travertine Production, including tiles, flooring, balustrades, statues, and decorative items sourced from the company's own government-licensed quarry spanning 5 hectares. Manufacturing combines Italian stone-processing technology with eco-friendly materials, and VEKS employs more than 150 skilled workers.

The company is vertically integrated upstream, operating its own travertine quarry under a government license valid through 2056, with annual extraction capacity of up to 30,000 m³ and total production volume exceeding 100,000 m². This integration is the foundation of its value proposition: customers receive consistent raw-material quality, supply security, and a single source from quarry extraction through finished furniture and architectural stone elements. VEKS supports nine travertine surface finishes (cross cut calibrated, cross cut filled and polished, vein cut filled and polished, antique, rough hack, antique clamp, figured clamp, 2D pattern), enabling high customization for premium applications.

VEKS generates revenue through project-based, quote-driven custom contracts. Pricing is not publicly disclosed; clients receive bespoke quotations based on specifications, materials, dimensions, and volume. The primary customer base spans luxury hotels (Seven Visions, The Alexander/Marriott, Armenia Marriott, Ani Plaza), government institutions (National Assembly of RA, Ministry of Defense, U.S. Embassy in Armenia, Government of Armenia), financial institutions (Ameriabank, Ardshinbank), telecommunications (Viva MTS), real estate developers (Tashir Group, Dvin Group), and F&B venues (Hayrik Restaurant, Ararat Grand Residences in Cyprus). The company exports to Russia, the USA, Europe, and the UAE, and relies heavily on international trade exhibitions (Moscow Stone Industry, Xiamen Stone Fair, Beautiful Houses, Lifestyle Interior Art) as its primary lead-generation channel, supplemented by a project-portfolio website and educational blog content about travertine.

Name

Veks

Legal name

Veks

Website

https://veksgroup.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

51–100 employees

Short description

VEKS is an Armenian B2B manufacturer of custom wooden furniture and travertine stone products serving luxury hotels, government institutions, banks, and developers, with its own licensed quarry, 150+ employees, and exports to Russia, USA, Europe, and UAE.

Ownership category

akta.pro rank

Product category

Stone and Furniture Manufacturing

NAICS

Cut Stone and Stone Product Manufacturing (327991), Household and Institutional Furniture and Kitchen Cabinet Manufacturing (3371)

SIC

Cut Stone & Stone Products (3281), Household Furniture (2510)

akta.pro primary industry

Masonry Veneer Units (Thin Brick, Stone Veneer) (IMADABAI)

Keywords

• Custom furniture manufacturing
• Travertine stone production
• Architectural stonework
• Fire-resistant doors
• Natural stone tiles

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Travertine Products: Sale of travertine tiles, flooring, slabs, and architectural elements sourced from company's own quarry. Products include various finishes (cross cut, vein cut, antique, polished) and formats for facades, interiors, and outdoor applications.
2. Custom Furniture and Doors: Bespoke furniture manufacturing including kitchens, bedrooms, wardrobes, tables, cribs, commodes, and stands, as well as fire-resistant doors, entrance doors, and interior doors. Project-based custom orders for residential and commercial clients.
3. Project-Based Contracts: Large-scale projects for hotels, restaurants, government institutions, and commercial buildings involving complete travertine and furniture solutions. Export sales to Russia, USA, Europe, and UAE.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Veks manufactures and sells premium custom wooden furniture and doors (including fire-resistant, entrance, and interior doors, kitchens, wardrobes, tables, cribs, commodes, and stands) and produces travertine stone products (tiles, flooring, balustrades, statues, chairs, tables) from its own licensed quarry. The company combines advanced Italian manufacturing technology with high-grade eco-friendly materials to deliver bespoke project-based solutions for enterprise clients in hospitality, government, banking, real estate, and luxury residential segments.

Product overview

VEKS is a manufacturer of premium furniture and natural travertine stone products based in Armenia. The company operates two core product lines: (1) Furniture Production encompassing custom wooden furniture including fire-resistant doors, entrance doors, interior doors, kitchens, wardrobes, commodes, tables, cribs, and stands; and (2) Travertine Production including tiles, flooring, balyasina (balustrades), statues, tables, and chairs sourced from their own government-licensed quarry spanning 5 hectares with annual extraction capacity of up to 30,000 m³. The company combines craftsmanship with advanced Italian technology to produce these products for both residential and commercial applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Travertine Tiles and Flooring Premium travertine tiles and flooring sourced directly from VEKS' own quarry in Armenia, available in cross cut, vein cut, honed, polished, and antique finishes for facades, interiors, and outdoor applications. Designed for use by enterprise clients in hospitality, government, commercial, and luxury residential projects.
• Travertine Architectural Elements (Balustrades, Statues, Chairs, Tables) Decorative travertine products including balyasina (balustrades), tables, chairs, and 3D statues for interior and exterior architectural decoration. Targeted at enterprise clients seeking natural stone art pieces and architectural features.
• Fire-Resistant Wooden Doors Fire-resistant wooden doors that combine safety standards with sophisticated aesthetic design, produced for residential and commercial applications in hotels, government buildings, and corporate facilities.
• Entrance Doors Wooden entrance doors crafted with charm and durability for residential and commercial properties, produced as part of VEKS' custom door offering.
• Interior Doors Stylish and functional interior wooden doors offering reliability and elegance for interior spaces in residential and commercial projects.
• Custom Wooden Furniture (Kitchens, Wardrobes, Tables, Commodes, Cribs, Stands) Bespoke wooden furniture tailored to customer specifications including kitchens, wardrobes, tables, commodes, cribs, and stands designed for residential and commercial clients. Produced from concept to creation using quality wood and Italian manufacturing technology.

Quantifiable outcome

• Annual extraction capacity of up to 30,000 m³ of travertine
• +2 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• Ministry of Economy of RAcoreOthersGovernment partnership providing regulatory support and recognition as a licensed quarry operator. VEKS holds a government license for travertine quarrying operations valid through 2056.
• Yerevan MunicipalitycoreStrategic or Co-development PartnerMunicipal government partnership for projects within Yerevan. VEKS has completed various municipal projects including public spaces and government buildings.
• Seven Visions Hotel & PlacescoreStrategic or Co-development PartnerLuxury hotel group partnership for custom furniture and travertine solutions. VEKS has completed multiple high-profile projects including executive suites and common areas.
• The Alexander, a Luxury Collection HotelcoreStrategic or Co-development PartnerMarriott-affiliated luxury hotel partnership. VEKS provides premium furniture solutions for this high-end property.
• Armenia Marriott HotelcoreStrategic or Co-development PartnerInternational hotel chain partnership for custom furniture in the Armenian market.
• Tashir GroupmajorStrategic or Co-development PartnerMajor Armenian real estate development group, partner for construction and development projects.
• National Assembly of RAcoreStrategic or Co-development PartnerArmenian parliament building furniture and interior solutions partnership.
• Ministry of Defense of RAcoreStrategic or Co-development PartnerGovernment defense ministry furniture and woodwork solutions for official buildings.
• U.S. Embassy in ArmeniacoreStrategic or Co-development PartnerDiplomatic mission partnership for embassy furniture and interior requirements.
• Miele Yerevan StoreminorChannel Partner/ Reseller/ DistributorPremium appliance retailer partnership, possibly cross-referral for kitchen projects.
• Dvin Music Hall / Dvin GroupmajorStrategic or Co-development PartnerEntertainment venue and hospitality group partnership for custom furniture and design projects including The Pool venue.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Antolini Luigi & C. Italian natural stone manufacturer and global distributor of premium marble, travertine, onyx and engineered stone slabs with a strong luxury hospitality and residential project book. Comparable premium positioning and architectural stone focus, though operating at significantly larger scale.
• Daltile: Major US-based manufacturer and distributor of tile, stone, and countertop products serving commercial and residential construction. Overlaps with Veks in tile and natural stone surfacing for hospitality and commercial projects, though with much broader mass-market product range.
• Levantina y Asociados: One of the world's largest natural stone companies, mining and processing marble, travertine and other stones globally with full vertical integration from quarry to finished tile and slab products. Highly comparable to Veks in travertine value chain position, though operating at materially larger scale across broader geographies.
• Henraux: Historic Italian marble producer and global stone supplier with own quarries and broad architectural stone portfolio including travertine. Comparable in the cut-stone and architectural stone category, though with much deeper European brand recognition.

Direct peers

• Stone Universe Inc: US-based travertine, marble and natural stone supplier focused on tiles, mosaics, moldings and architectural trims for residential and commercial projects. Closely comparable in travertine product range, finishing variety, and project-based customer model.
• Alacakaya Mermer: Turkish natural stone producer specializing in travertine and marble blocks, slabs and tiles with significant export footprint. Direct competitor in the travertine export category serving similar European, Middle Eastern, and North American project markets.
• Marble Systems: US-based supplier of travertine, marble and natural stone tiles, pavers and architectural elements with strong project-based distribution to hospitality, residential and commercial buyers. Comparable in product mix, target customer verticals, and architectural/decorative stone focus.
• Temmer Mermer: Major Turkish marble and travertine producer with own quarries and global export reach. Competes head-to-head with Veks in the travertine export market, especially across Mediterranean, European, and Middle Eastern buyers, with similar vertical integration model.
• Bagnara Mineralien und Natursteine: European natural stone distributor and processor specializing in travertine and marble for architectural and interior projects. Similar project-based model targeting premium hospitality and luxury residential clients.
• Emek Marble: Turkish-based travertine and marble mining and processing company exporting to international markets. Operates in the same value-chain tier as Veks, with similar capabilities in cut-to-size tiles, slabs and finished architectural stone products.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/veks-ltd

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veks