Largest Romanian online shop eMag wants 40% sales growth, more product categories to be added

Romania's largest online store eMag.ro posted revenues of EUR 187 million last year, and hopes to achieve a 40 percent turnover growth this year, to at least EUR 262 million, according to its general manager Iulian Stanciu. Including the revenues from the Marketplace affiliate platform, the retailer's revenues were of around EUR 200 million. The company reported a positive operational profit, without mentioning the number. On the international market, given the recent investments, the total net profit was 'slightly negative', said Stanciu. The retailer will start selling more types of products this year, such as food, sportswear, car accessories and fashion items. It currently sells IT&C products – it started out as an IT&C retailer, books, cosmetics, toys and insurance, becoming a generalist retailer with a regional coverage. This year the company will invest some EUR 11.5 million, double on 2013. Out of this budget, EUR 3 million will go to technology, EUR 2.5 million into logistics, while a EUR 4.5 million budget will be dedicated to international expansion. Another EUR 1 million will be invested in the eMag team. eMag is active in Bulgaria and Hungary as well. The retailer is controlled by giant Naspers, which took over the controlling stake in October 2012, for a reported USD 80 million. editor@romania-insider.com