Romanian Online Retailer eMag '10 Sales Up 60%, To EUR102M

Romanian IT&C online retailer eMag Wednesday said its sales rose 60% year-on-year in 2010, to EUR102 million, due to attracting new corporate clients, a larger product range and better organization processes.

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For 2011, the online store estimates sales of EUR150 million.

"Online retail will represent 20% of the total IT&C market in Romania on the segments we operate, and we will actively contribute to achieving this figure," eMag general manager Iulian Stanciu said in a statement.

In 2010, the online IT&C market recorded sales of EUR145 million, up around 60% on the year. According to the company, eMag had a 70% share in 2010.

eMag is majority owned by IT products distributor Asesoft Distribution, founded by Sebastian Ghita and Iulian Stanciu.

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