Elefant.ro posted 131 million lei (EUR29 million) revenue in 2017.
“We are watching our costs, are optimizing them to attain our goal of breaking even at the end of next year,” Sergiu Chirca, Elefant’s CEO, told ZF. “We expect 15% growth in revenue this year form EUR29 million to EUR32 million, in line with market trends.”
The company does not have an aggressive growth strategy and is not looking at acquisitions to help it achieve its breakeven goal, either. In 2017, it posted RON22 million net loss, up 29% in the previous year.
“We used to pursue an aggressive growth strategy in the past. We see elefant.ro as an e-tailer focused on sales and marketing, not on technology.” The company continues investment and prepares to add more product categories and products, Chirca added.
“We are now in the process of migrating to a new platform delivered by Germany’s Intershop, which should be completed next month before the year-end traffic spikes. (…) The new platform will allow us to grow very fast and be very secure (…) The interface will remain largely the same, but we will improve site navigation, product filtering feature (…)”
(English version by Loredana Fratila-Cristescu)