eMag, no. 1 in IT&C retail has big plans again: over 100m-euro turnover
eMag, no. 1 in IT&C retail has big plans again: over 100m-euro turnover
eMag, no. 1 in IT&C retail in Romania expects to hit the
100 million-euro turnover mark in 2010 for the first time in the
company's nine-year history, amid a rise in the number of Internet
users and a rise in electronics and in web-connected products such
as laptops and smartphones.
The company ended last year with a 12% turnover decline to 64
million euros, very close to its original estimates of 66 million
euros. "This is a very good result, we virtually gained market
share despite seeing an around 50% sales decline," explains Radu
Apostolescu, marketing manager and one of the founders of the
online store.
This is not the first time that eMag targets an over
100 million-euro turnover. After the company had doubled its
turnover in 2007 to 70 million euros, representatives of the online
store planned a new doubling, to 140-150 million euros for 2008.
The company had adjusted its costs and personnel in view of this
target but the recession ruined everything, with the online store
narrowly managing to avoid major financial trouble, which affected
its rivals K Tech Ultra Pro and Flamingo, amid the sales
collapse.
However, the company managed to leave its financial troubles
behind after Asesoft Distribution, one of the leading IT&C
distributors on the Romanian market, bought 51% of eMag in April
2009. The retailer ended last year with a few tens of thousands of
euros in profit and has a solid financial position, say company
representatives, who expect the company will be able to grow as the
number of clients for Internet services rises and as Romania's
confidence in online acquisitions increases.
2010-02-24
24.02.2010. 00:00
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