News 29 Nov 12

Romanian Online Shopper Sold for $80m

Naspers has expanded its online holdings by purchasing Romania's main online retailer.

Marian Chiriac
Bucharest

The South African-based media conglomerate Naspers has paid 80 million US dollars for a majority stake in the Romanian site emag.ro, media reported. This is one of the largest transactions in the Romanian online sector so far.

Emag.ro was launched 11 years ago and sells mainly electronics, IT and home appliances and music. The company posted a turnover of 145 million euro last year.

Naspers already owns other online companies in Romania, including PayU and the online platforms autovit.ro, mercador.ro and compari.ro.

Online shopping is becoming popular in Romania. Millions of people used it to join the annual discount shopping day on November 23, known as Black Friday, hoping to benefit from bargain prices that only last for the day.

Emag.ro was almost overwhelmed by orders on Black Friday, although it had doubled the stocks compared to last year, the company said.

"We sold 12 million euro of products last Friday, 20 per cent over the company’s estimations, and sales continued over the weekend, adding 3.7 million euro to the revenue,” a press release said.

Talk about it!

blog comments powered by Disqus

Premium Selection

politics-keeps-water-toxic-across-vojvodina-06-28-2016
28 Jun 16

Politics Keeps Water Toxic Across Vojvodina

The summer heat is creating new worries in Serbia's northern province of Vojvodina, where political quarrels are blocking a badly needed overhaul of sometimes toxic water supply systems. 

black-sea-flotilla-fiasco-worsens-region-s-tensions-06-27-2016
28 Jun 16

Black Sea Flotilla Fiasco Worsens Region’s Tensions

Bulgaria’s refusal to join Romania, Turkey and Ukraine in a Black Sea naval patrol has created new tensions in the region and has raised sensitive questions about their security priorities.

22 Jun 16

Balkan Countries Brace for British Vote on EU

22 Jun 16

Census Bombshell adds to Bosnia's EU Woes

Latest News from the Balkans

28 Jun 16

Bosnian Army Commander Oric Trial Stopped

28 Jun 16

Macedonian Protesters Predict 'Hot' Summer

28 Jun 16

Kosovo Customs Earnings Rise Despite SAA

28 Jun 16

Bosnians Shocked as Mujica Accepts RS Award

28 Jun 16

Serbia Ponders Brexit's Impact on Economy