Interview with Regina Vitório, CEO of Portuguese LSI Stone, about the impacts of the UK leaving the EU
LSI Stone is a producer of Portuguese limestone Moca Cream and also a processor of natural stones mostly from the Iberian Peninsula. Founded in 1999 by Regina Vitório and Pedro Vazão, the company has meanwhile become a player in the global stone sector: more than 95% of its production goes into projects worldwide. Peter Becker from Stone-Ideas.com spoke with Regina Vitório (CEO) about the aftermath of the Brexit. On the company’s webpage, she is characterized as „fearless and self-motivated”.
Stone-Ideas.com: Where do you see the main impacts of the Brexit on your business?
Regina Vitório: The main issue is the uncertainty of the whole process – apart from that, we are used to complying with clients’ requirements, and I do not believe that clients’ attitude will change after Brexit. Yet it also clear that the smoother the Brexit is negotiated and realized, the healthier it will end up for all partners involved, and therefore the less impact it will have on businesses.
Stone-Ideas.com: But if the Pound Sterling’s value would see a strong decline – would that make your stones too expensive for the UK?
Regina Vitório: Traditionally, the Pound is a strong and stable currency, so I don’t really see why that should change. Some fluctuation might affect short term exports and probably also products with less value added, but I am confident that our portfolio mainly composed of high-end-products will still find its market.
Stone-Ideas.com: Are you expecting a decline in the building sector in the UK?
Regina Vitório: The building market in the UK has been in a good shape in recent past and we expect it to keep pace over the next few years. We are prepared to keep up with a possible higher complexity in the administration of our projects.
Stone-Ideas.com: How do you operate your business with the UK: you have a partner for the installation of your stones, I suppose?
Regina Vitório: In every market we serve, we try to establish strong and long-lasting relationships with our partners. Understanding them, their way of working and meeting up with their needs is a strong part of our work. Our growth around the world is mostly due to clients’ references. We usually say: our customers are our main marketers and sellers.
Photos: LSI Stone
(13.02.2019, USA: 02.13.2019)