Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Douglas Lane with Jefferies & Company.
Douglas Lane - Jefferies & Company
You mentioned market shares in Russia around 18.5%. That sounds like about even sequentially with the second quarter, if my recollection is right. Can you give us an update on your production market shares in Poland and the competitive dynamic there?
Bill Carey
Yes, I think in Russia Douglas, it's hard to get accurate data coming out of markets that you can really trust. What we can really estimate is where the market is and we are doing better in the marketplace, so we have to be gaining share. Then of course, some people might be moving in Russia because of the trade down, a little bit to the black markets. Generally, we believe we are doing better in the market from the data we see. So, we estimate that we are gaining some share over the last couple of quarters. Is it 18.5%, is it 19%? It could be, but it's hard to get reliable data, some more trends over time that we need to look at.
In terms of Poland, if we look at the overall dynamics in Poland again; mentioned the Polish vodka market, we are again slightly better than the market. So, we believe we're holding our own. We don't think we're substantially gaining much share. We think we're holding our own within the marketplace. We don't operate in the economy sector, even though that's not really gaining share; it might be gaining a little bit because of the crisis. Then there was a new product development, two dynamics going on, major, I think we discussed last quarter, was the Belvedere Group, which is still having stress in their overall business model in Poland financially.
I think they're currently under bankruptcy. They are continuing to lose large share out of the Polish market being replaced by the other one, Polmos Lublin, which is owned by Oaktree. A lot of that share has come out of the economy sector, being replaced from Belvedere to Oaktree and then Oaktree has developed a new product over the last couple of years that's done quite well in the mainstream category and I think that's up to around 12% or so market share in the lower mainstream price point; very aggressive marketing. They've taken market share from probably all the brands surrounding that sort of price point. They've probably taken maybe 1% from our Absolwent brand over the last, probably year and a half. But really the big shift has come from the Belvedere drop and the replacement of the Polmos Lublin in terms of where Belvedere was.
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