Romanian e-commerce retailer evoMAG said it ended 2023 with sales of EUR 42 million, an increase of about 20% compared to 2022. For this year, the company estimates a business growth of between 10% and 20%, depending on the development of the corporate segment and sales to public institutions. Last year, evoMAG recorded the highest sales in established product categories, namely mobile phones, laptops, components, and appliances. “Last year, we focused on what we do best - selling products in categories where we have the most experience. Additionally, we succeeded in strengthening a robust corporate sales department and continued to open new sales channels through partnerships with several marketplaces, both in Romania and abroad,” said Mihai Patrascu, CEO of evoMAG. In 2024, the retailer plans to further develop the corporate segment and sales to companies. “We also plan to list on other marketplaces in countries like Germany and Greece, but these are still preliminary plans. evoMAG’s focus in 2024 is on optimization and efficiency to offer better promotions and faster delivery to our current customers,” Patrascu explained. The company estimates investments of around EUR 500,000 this year, which is similar to the 2023 budget. Most of the funds will be directed towards improving logistical activities, enhancing delivery speed, and the online store’s backend platform. At the same time, in 2024, evoMAG is accounting for business growth of 10% to 20%, depending on the evolution of the corporate segment and sales to public institutions, as it is also developing a larger, specialized department dedicated to public tenders through SICAP. Plus, the company said it remains open to market consolidation opportunities through acquisitions, targeting online stores with a solid customer base and selling products in complementary niches that align with evoMAG’s existing product offerings. evoMAG is one of the leading companies in the Romanian e-commerce industry, attracting over 60,000 visitors on its platform daily. It was founded by Mihai Patrascu, who continues to hold the position of CEO. In 2022, the company attracted a EUR 2 million investment from Catalyst Romania, one of the most important technology-focused venture capital firms in Romania, to support its accelerated development plans.
The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]
The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]
Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives. The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]
Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages. The festival is staged in partnership with […]
More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat. In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]
The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]
