Romanian online retailer eMAG targets EUR 1 bln in sales by 2017

Romanian online retailer eMAG will reach EUR 1 billion in sales in 2017, due to international expansion and to its entry on new market segments, the company’s representatives estimate. “This year we will pass EUR 500 million and next year we will get close to EUR 1 billion,” Iulian Stanciu, eMAG’s CEO said at ZF Live, a business talk show held by financial newspaper Ziarul Financiar. “In 2017 we will surely reach EUR 1 billion,” eMAG’s representative added. eMAG’s turnover last year was close to EUR 300 million, more than the initial estimate of EUR 260 million, Iulian Stanciu also said. This was supported by the Romanian market as well as by the Bulgarian and Hungarian markets where eMAG operates with the same company. Hungary and Bulgaria now stand for about 10% of eMAG’s sales. The Romanian retailer announced last week that it will enter the Polish market by acquiring a local online retailer. editor@romania-insider.com