Romania Insider
Naspers reaches 80% in Romania's largest online retailer

South African group Naspers has reached a stake of almost 80% in Romania’s largest online retailer eMag after investing about EUR 100 million in the company.

Iulian Stanciu, who founded eMag, currently has a stake of 21% in the company. He held 25%, but his share decreased after the new investments carried out by Naspers, reports Ziarul Financiar.

eMag expects to reach a turnover of RON 3.7-3.8 billion this year (EUR 799 million-820 million). For the next year, the company estimates a turnover of over EUR 1 billion.

“If we have so far been enthusiastic, we are now getting more structured, better defining processes,” Stanciu said.

[email protected]

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Romania Insider
Naspers reaches 80% in Romania's largest online retailer

South African group Naspers has reached a stake of almost 80% in Romania’s largest online retailer eMag after investing about EUR 100 million in the company.

Iulian Stanciu, who founded eMag, currently has a stake of 21% in the company. He held 25%, but his share decreased after the new investments carried out by Naspers, reports Ziarul Financiar.

eMag expects to reach a turnover of RON 3.7-3.8 billion this year (EUR 799 million-820 million). For the next year, the company estimates a turnover of over EUR 1 billion.

“If we have so far been enthusiastic, we are now getting more structured, better defining processes,” Stanciu said.

[email protected]

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