The investment will support the expansion of evoMAG on the online markets in Romania and internationally, through the presence on as many relevant marketplace platforms as possible, the acceleration of offline development, through the inauguration of two evoMAG showrooms, over the next two years, as well as the annual doubling of the product portfolio over the next three years, implicitly, the development of new product categories, the expansion of storage space and the efficiency of operational processes to support the anticipated growth, evoMAG representatives said on Wednesday.
“The capital infusion will allow us to take evoMAG to a new level of development, both on the Romanian market, online and offline, but also outside the country. We are happy to have attracted a strong partner with experience in the eCommerce industry to support the transformation of evoMAG and who shares our development vision”, stated Mihai Patrascu, CEO of evoMAG.
In 2021, evoMAG reported sales of EUR34 million, higher than in 2020 when the company saw 46% growth – the highest in recent years, in an atypical period and in the context of the acceleration of the eCommerce in general. Analysing the evolution of evoMAG over the last two years, the company had an average annual growth of 25%.
For 2022, the retailer targets a turnover of almost EUR40 million, with sales peaking on the mobile phones, TVs, PC components and electric vehicles segments. Home and garden products are a separate category for which evoMAG predicts significant growth in 2022.
To support sales growth, evoMAG will invest in 2022 in reducing the delivery time of the products ordered by customers. Currently, 90% of all orders are delivered in 24 hours. For the end of 2022, evoMAG aims to have over 95% of all orders delivered in 24 hours and the rest in maximum 48 hours.
With the objectives of doubling the product portfolio and reducing the delivery time of orders, evoMAG aims to increase the team to more than 100 employees. By the end of the year, evoMAG plans to recruit new colleagues in key positions and departments, such as: warehouse, customer relations, documentation, marketing, programming, showroom, product management.