In 2013, the company generated sales of EUR15 million without having contracted any banking loans.
“I’ve always wanted to grow, I did not necessarily know what direction we will follow and where we’ll end up, but I have certainly never dreamt so high. My dream was to create a well-known company. last year we had sales of EUR15 million and for this year we’ve budgeted some EUR20 million,” said Patrascu.
One of the market segments where Evomag leads in Romania is that of online sales of watches, which generated sales of EUR1 million last year.
“I cannot say it was a target selling the company as there is still room for growth. It’s a pity to speak of a sale when we have two-digit growth per annum. There is also the risk of not surviving amid a crisis as competition is high,” says Patrascu.
“I can say there are a lot of positive trends on the customer service side. As an online store, we’re fighting for customer confidence. Evomag delivers several times the same day with its own cars, in Bucharest. A delivery we operate ourselves strengthens confidence in our brand more than a courier who leaves a parcel on the table and leaves,” added Patrascu.
Evomag has around 70 employees, but the company gets to almost 100 employees if other businesses it holds are included.
Evomag last year acquired Toys.ro online toy store, which now ranks fourth on the market, but which Patrascu wants to drive onto the second position in two years. At present, eMag, Romania’s largest online retailer, leads the toy segment.
“Considering we are still an expanding business, we have profit of up to EUR100,000. Profit is not what we’re focusing on, we’re reinvesting. In 2013, we operated an extensive investment in October and moved to a 2.5 times bigger headquarters, of 200 square meters. We had to make this investment to bolster clients’ confidence,” stated Patrascu.
The latest estimate on the company’s value revolved around EUR7 million, according to Evomag head.
(English version by Catalina Apostoiu)