Romanian business angel Ghenea sees 28% growth in IT&C retail business

FIT Distribution, an investment of Romanian serial entrepreneur Marius Ghenea (in picture), posted growth in its business last year, when the market witnessed numerous product launches, as well as challenges due to the Thailand floods. Ghenea's online IT&C and retail businesses PC Garage, Garage Mall, PC Fun and ElectroFun together posted a turnover of EUR 40 million in 2011, up 28 percent on the previous year, and hope to grow by a further 20 percent this year.

Component sales brought 40 percent of PCGarage.ro's IT&C retail business last year, even though the sector was hit by the flooding in Thailand, which caused significant setbacks in the components industry. Thailand is one of the most important production areas for IT&C components. PCFun.ro saw its household appliance sales up by 25 percent last year on the previous. GarageMall, the latest addition to Marius Ghenea's business, sells various consumer products online, such as tires and car accessories. Fashion and cosmetics accessories are also planned. Marius Ghenea was among the founders of Romania IT&C retailer Flamingo in 1994. Ghenea withdrew from the company in 2001 and went on to invest in other businesses in IT&C and online retail and in construction materials. He is one of the 'angel' investors in the Lion's Arena TV show on TVR 2 national TV station. Using a similar format to the popular Dragon's Den shows, five entrepreneurs hold auditions for wanna-be entrepreneurs from across Romania, who hope to convince at least one of the investors to put money in their idea. Corina Saceanu, corina@romania-insider.com (photo source: Marius Ghenea's Flickr profile)