Largest Romanian online retailer targets EUR 1 bln sales for new Hungarian division

Romania’s largest online retailer eMAG will become the main shareholder (52%) of the company resulted from the merger of its Hungarian division with its main local competitor - Extreme Digital.

The deal, approved by Hungary’s competition body (GVH) will also open eMAG’s access to the markets in the Czech Republic, Slovakia, Slovenia, Croatia and Austria, where Extreme Digital already operates.

The new entity starts with cumulative revenues estimated at EUR 250 million, 600 employees, and a turnover target of EUR 1 billion to be met within six years.

Besides Romania, where it is market leader, eMAG also operates in Bulgaria and Poland. The group is controlled by South-African group Naspers through its international internet assets division - Prosus, which is listed on the Euronext market in Amsterdam.

(Photo source: the company)