21.2 C
August 12, 2022

eMag.ro makes important purchase in Poland

eMag.ro is taking an important step on the European market by buying Agito, one of Poland’s biggest online retail platforms. Agito.pl, an online store with a turnover of EUR 80 M last year, was bought in 2012 by South Africa’s Naspers Group, which is also eMag’s majority shareholder. Following the transaction, Agito will no longer be owned solely by Naspers but by Naspers along with Dante International, a company owned by Iulian Stanciu, one of the most powerful local IT entrepreneurs – who also owns Network One Distribution and Flanco. Dante International, which owns eMag.ro, is controlled by Naspers (75 per cent) and businessman Iulian Stanciu (25 per cent).

“We will use the eMag.ro platform on Agito.pl too. There will be an optimization of activity, a cost reduction. The experience from Romania will be integrated within the Polish retailer. We haven’t decided yet whether Agito.pl will be replaced by eMag.ro,” Dante International CEO Iulian Stanciu stated.

In December last year Dante International filed a request with Poland’s Competition Council and Consumer Protection, concerning the takeover of Agito.

“This expansion is part of our medium and long-term strategy of consolidating our position in the region. Thanks to the three markets on which we are already active – Romania, Bulgaria and Hungary – we are currently tapping into a base of over 36 million clients. Now we are entering a large regional country with almost 39 million people, an e-commerce market estimated at EUR 4 bln and which has high growth potential,” Sorin Ionescu, Dante’s international development director, stated.

Launched in 2001 as an online store for computer systems and office goods, eMag is one of the biggest online stores on the Romanian market. In 2014, eMag.ro’s turnover was estimated at EUR 260 M, up by over 40 per cent compared to 2013.


Related posts

Over 50 companies establish Romanian Exporters’ Association

Nine O' Clock

Minister Constantin wants to set up agricultural fund

Nine O' Clock

Employers accuse gov’t of breaking conditions set for lump tax