“2017 was the best year since Hervis’ entry on the market. We ended last year with gross revenue of about EUR41.5 million.”
Hervis posted 131 million lei (EUR30 million) net revenue in 2016, according to the latest publicly available data. As the gross revenue stood at EUR41.5 million in 2017, net revenue amounted to about EUR35 million, according to ZF’s calculations, which means growth of 16.7%.
The company opened five stores last year, its fastest expansion pace since entering Romania, hence the growth.
Hervis arrived in Romania in 2007 and has since opened 23 stores in the main cities of the country. It has six stores in Bucharest.
“We will open two stores in May, in Ploiesti and Drobeta-Turnu Severin. We plan to open eight more by yearend, but this is also up to developers.”
(English version by Loredana Fratila-Cristescu)