The company held by entrepreneurs Vladimir Iacob and Marius Selescu is now operating with 5,200 employees and, even though Aramis officials said mid this year they expected a decline of about 10% in revenue, the furniture manufacturer should end the year with growth of 2%.
“We think we’ve managed to successfully navigate the pandemic effects on the economy so far. We were severely affected in the spring, when sales dropped by 40% on average for three months, with growth returning after that and continuing. Our expectation is to end the year with double-digit growth in revenue, as a result of the better than expected sales we’ve had since July,” said Alexandru Griguta, chief financial officer of Aramis Invest.
“To be able to meet demand, we’ve hired new people so now we have about 5,200 active employees, 500 more than at the beginning of the year.”
Aramis Invest’s revenue increased by 7% year-on-year to some 1.15 billion lei (EUR250 million) in 2019. It is the largest furniture manufacturer in Romania.
It expects development and growth in revenue again next year.
“From what we can tell right now, we’re expecting a 6% to 8% growth on 2020. This forecast is based in the increase in production capacity, and on diversification of the products made by Aramis, as a result of the investments in the past year.”
(English version by Loredana Fratila-Cristescu)