Record transaction confirms the high value of eMAG brand
Naspers acquires 70% of the Eastern European online retailer
It has been confirmed recently that eMAG, the leading Southeastern European online retailer, has sold 70% of the business to Naspers–the South Africa based, USD 5 billion turnover global media player. The value of the transaction is reported (but not confirmed by the actors) to be around EUR 100 million, placing an overall value of almost EUR 150 million on the company.
As it was establishing itself as a serious contender on the Eastern European market, eMAG underwent a successful rebranding with Brandient in 2010. The simple, flexible new identity gathered international acclaim, with a Gold prize at Transform Awards in London in 2011 and a Graphis Gold award (Best in Design 2012).
eMAG was founded by three Romanian entrepreneurs in 2001 and gradually overtook many of its brick-and-mortar competitors in terms of sales. Turnover rose vigorously, barely flinching at the economic crisis, to EUR 145 million in 2011. Recent involvement of Naspers is a guarantee for the accelerated expansion of eMAG in Central-Eastern Europe.
Learn more abut the eMAG rebranding.