Romanian online retailer elefant.ro eyes listing

The shareholders of Elefant Online, which operates elefant.ro - one of Romania's biggest online retailers, are considering listing the company's shares on the Bucharest Stock Exchange (BVB) or a regional exchange.

"In 2021, 11 years since our launch, elefant.ro has a community of almost 3 million clients. Given all these aspects, the company's shareholders are taking into account the listing, either on BVB or a regional capital market, very likely by the end of this year," Sergiu Chircă, CEO of elefant.ro, said, quoted by Ziarul Financiar.

The company reported a turnover of RON 235 million (EUR 48.2 million) in 2020, up 35% compared to the previous year. It posted a RON 5.7 million (EUR 1.17 million) operating profit, with 2020 the first year when it recorded a profit.

"We plan to exceed RON 300 million (EUR 61.5 million) in turnover this year and an operating profit of at least RON 10 million (over EUR 2 million)," Chircă said.

This year, the company plans to finish its marketplace project, which will allow buyers to have access to several product categories. It will also continue to invest in improving customer experience, from navigating on mobile devices to ordering and delivery. At present, more than 80% of the traffic on elefant.ro comes from phones and tablets.

Last year, elefant.ro expanded its delivery network to more than 1,500 points through partnerships with easybox and the Romanian Post. It also invested in developing its own fulfillment center close to Bucharest, expanding the area by 30%.

(Photo courtesy of the company)