The largest online retailer in Romania eMAG.ro will most likely see its business growing by 50% this year, above the level it estimated earlier in April.

eMAG’s turnover might thus go above the EUR 260 million, which was the April estimation for this year, that took into account a 40% year-on-year increase. Last year, the company had a turnover of EUR 185 million.

“It was a good year for eMAG. We manage to generate a turnover increase above 50% in Romania and launch new products. After the results in the third quarter, we aim for more,” said Violeta Luca, vice-president and executive director for eMAG, quoted by Mediafax.

eMAG, launched 13 years ago, is owned by a company called Dante International, which is controlled by the Naspers group. Romanian entrepreneur Iulian Stanciu, eMAG’s CEO, also has a minority stake in the company.

editor@romania-insider.com