April 28 (SeeNews) - Romanian sports equipment retailer Sport Guru said on Thursday it is considering going public, after booking a 64% increase in its net profit to 2.8 million lei ($595,000/566,000 euro) in 2021.
"We will continue to invest in expanding our product range and expanding our presence at the national level. To achieve these objectives, we are considering several options, such as entering into a partnership with potential investors or, why not, listing SportGuru on the Bucharest Stock Exchange," Sport Guru co-founder and CEO Mircea Rasovan said, as quoted in a company press release.
The company posted 38.4 million lei in sales in 2021, a 62% year-on-year increase, according to the press release.
“2021 was the best year in the history of Sport Guru, one in which we saw a substantial increase in sales. The results recorded over the past year are due to the long-term investments made in expanding the range of the products for our customers, but also the services we provide in our stores and which are made with the best technologies in the field," Rasovan commented.
Sport Guru’s five physical stores accounted for 53% of all sales. A further 34% of sales were generated by the company’s online presence and 13% were made through specific customers, independent retailers, other online stores, sports federations, as well as marketing agencies.
Earlier this month, the company opened a new 650 sq m store in Brasov.
Sport Guru was founded in 2009 by Mircea Rasnovan and Alexandru Cristescu. The company operates three stores in Bucharest, one in Cluj-Napoca and one in Brasov.
(1 euro = 4.94 lei)