South-Korean manager Kim Koellner has stepped down as CEO of local electro-IT retailer Domo and made an offer to buy the company’s brand and online shop from Austrian investor Eugen Popov.

“I leave the company, but I want to buy the Domo brand and the website. I want to further develop the brand with a local investor. I have made an offer and I’m waiting for an answer,” said Kim Koellner, cited by local Profit.ro.

He said he was targeting a complementary online and offline development.

Koellner said that he decided to leave the company because the new owner didn’t have a clear strategy for development. Eugen Popov took over Domo Retail in October 2014. The company has gone through a very rough period in the past five years, changing owners a few times. Popov divided the company in two, one of which went into insolvency while the other, Domo SRL is still operating, but at a lower scale than during its peek years.

The company currently has 60 stores compared to 130 in 2008. Its biggest competitors are Altex and Flanco, as well as online retailer eMAG.

editor@romania-insider.com