Agito.pl is one of the largest online IT&C stores in that country, with more than EUR80 million sales lat year. The Polish online store had been part of the Naspers group since 2012.
“After Bulgaria and Hungary, eMag’s business model will enter a new market and this step is in line with our overall medium and long-term vision,” Sorin Ionescu, vice-president and international development director of eMag told ZF.
“We may be talking about a Romanian business model being exported, which has already proven its viability in other countries, while keeping its headquarters in Bucharest.”
In turn Iulian Stanciu, chief executive officer and shareholder of Dante International, the operator of eMag said, “We will be using the eMag.ro platform for Agito.pl. We will streamline the operations and cut costs. The Romanian experience can be integrated at the Polish retailer. It hasn’t been decided yet whether eMag will replace agito.pl.”
eMag officials did not provide any details about the value of the deal.
Naspers owns 74.2% in eMag, while Iulian Stanciu 25.8%. Stanciu is also one of the most powerful entrepreneurs in the local IT&C industry, as he owns NOD, the largest IT&C distributor in Romania and computer and electronics retailer Flanco.
eMag, which posted EUR189 million revenue in 2013, also has operations in Bulgaria and Hungary.
Agito, an online store established in 2002, has been part of Naspers since 2012, when the group paid about EUR17.7 million for 90% in it, according to the Polish media reports at the time, which did not receive official confirmation. It posted more than EUR80 million revenue in 2014, according to Sorin Ionescu.
To eMag, which is aiming for EUR1 billion sales, entering Poland brings significant growth opportunity because Poland is the biggest market for electronic commerce in the region.
(English version by Loredana Fratila-Cristescu)