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 first section of the Transapuseana, a road that crosses Romania's Apuseni Mountains, was recently inaugurated. The section consists of 43 kilometers of county road. The road (DJ 107I), initially known as the 'Transalpina of the Apuseni,' was later renamed Transapuseana. It is the largest investment on a county road in Romania, with a total […]
According to a report from Romania’s National Institute of Statistics, during the period 2020-2022, the proportion of Romanian companies that introduced new or improved products or business processes into the market was 8.8%, a decrease of 1.9% compared to 2018-2020. Business innovation refers to the wide range of activities that enterprises...
SD Worx, a leading European HR and payroll solutions provider, said that it completed the acquisition of Romanian Software SRL, the market leader in Romania for payroll and Human Capital Management (HCM) solutions. Romania thus becomes the 18th European country in which SD Worx has its own proprietary payroll & HR software. SD Worx announced […]
The Holy Light will be brought from Jerusalem to Bucharest on the evening of Saturday, May 4, and then distributed to other areas of the country, according to a press release published by Basilica.ro. Moreover, a delegate of the Metropolis of Moldavia and Bucovina will take the Holy Light from Bucharest to Chisinau, in the […]
After six months of renovation work, the bookstore Șt. O. Iosif, the “heart” of Libris, reopened its doors in Brașov on April 26. The investment in the space redevelopment project, which also includes the rehabilitation of the building - a historical monument in which the bookstore has been operating since its foundation, amounts to EUR […]
Romanian athletes shined at the 2024 European Rowing Championships in Szeged, Hungary, gathering a total of eight medals: four gold, two silver, and two bronze. They thus managed to secure the second place in the competition’s medal count for Romania, the Olympic and Sports Committee announced. The gold medals were won...
