According to Romania-based business news outlet Ziarul Financiar, eMag is the largest online IT/communications product retailer in Romania, with annual sales of €165 reported for 2012 at reported growth of 50%; at that time, eMag CEO Iulian Stanciu claimed that his company had garnered a 70% share of the e-commerce market in Romania.
Current projections call for the company to increase to €1 billion in sales by 2018.
The expansion into Hungary represents Emag’s second foreign market after opening operations in Bulgaria one year ago, though originally Stanciu had explored the possibility of opening up shop in Turkey and/or Ukraine as a next step.
eMag is owned by South Africa-based media group Naspers and was founded in 2001; about 500 are currently employed in its Romanian and Bulgarian operations.