Romanian retailer evoMAG.ro eyes acquisitions and a turnover increase by a third in 2014

Romanian online retailer evoMAG.ro hopes to up its sales by at least a third in 2014, to some EUR 20 million, as well as keep its eye on potential acquisition targets. “We are keeping an eye on online shops with at least three years of activity and with a stable client base. They should have a turnover of at least EUR 0.5 million a year. It does not matter in what retail area they are active,” said Mihai Patrascu, the head of evoMAG.ro. Last year, the retailer had a turnover of EUR 15.5 million in 2013, a 35 percent increase on 2012, above their planned increase target. “the beginning of the year is promising. We expect a good year for online retail, because it continues to be a favorable area, and clients are more aware of the benefits of shopping online,” Pastrascu added. EvoMAG.ro plans to invest some EUR 0.5 million this year, including in opening several representative shops in large Romanian cities, with a first such store planned for opening in the first half of the year. editor@romania-insider.com