They ignore the fact that it is so hard to enter the ‘established’ markets in the West, where taxes are much higher, says Dan Stefanescu, owner the largest local wholesaler of cellphones and tablets, voicing an unusual opinion among local entrepreneurs.
“I think Romanian managers complain too much about conditions for business in Romania: there is no other big country in Europe where one has as many opportunities to do business. I’d like to invite those who complain to do business in a stable environment like Germany, France and Italy,” Stefanescu said.
Problems come with opportunities, he believes. “The frequent changes in fiscal legislation, the poor infrastructure, the excessive red tape affect us, too, indeed, but they are all part of the package. Let’s work harder.”
Gersim Impex, a company that posted EUR175 million revenue in 2017, is looking for acquisition targets on the wholesale and retail markets, as part of its efforts to diversify the business, Stefanescu says.
“We are looking at regular retail – dealers of mobile telephony operators, online retailers and wholesalers of niche products.”
Gersim’s revenue dropped 10% to EUR175 million last year because some manufacturers it represented started working directly with some store chains, Dan Stefanescu says.
The acquisitions budget may reach as much as tens of millions of euros, and Gersim is already in talks with some potential targets. “We are already trying some options. We have a EUR50 million budget for that.”
Gersim is the wholesaler of some of the largest smart mobile device manufacturers, which sell about 80% of the terminals bought in Romania.
“We are the official wholesalers of major brands: Samsung, Huawei, Motorola, LG, Alcatel, which account for 80% of the market together and for many other B brands. We only lack Apple in our portfolio.”
(English version by Loredana Fratila-Cristescu)