The company "Elsavaco", now "Lilo Mall", was founded in 1991. It was the first commercial center of its kind to officially receive a permit from the government for entrepreneurial activities. The strategic location of the mall, the wide choice of products presented here, the affordable prices and the opportunity for both retail and wholesale trade have become the competitive advantage that has led to the success of the mall. Over the years, its product has been supplied not only to the regions of Georgia, but also to a large part of the Transcaucasian countries.

Lilo Mall currently owns a 35-hectare shopping complex with up to 6,000 outlets.