June 29 (SeeNews) - Romanian online retail group eMAG plans to invest over 50 million euro ($59.7 million) in its Bulgarian business over the next 3 years, eMAG Bulgaria said.
The investment will go towards technology, development of international markets, and human resources, eMAG Marketplace Bulgaria said in a statement last week.
Over the past year, online traffic on eMAG Marketplace Bulgaria has grown by 47%, with more than 1.3 million successful orders.
The company expects to reach 6,000 sellers by the end of 2021, with the current number standing at 4,800.
"We are entering a phase of accelerated development of the eMAG Marketplace, which will focus on providing new tools for further development of online business and increased sales," Razvan Blanita, CEO of eMAG Marketplace Bulgaria, said.
The platform also plans to develop eMAG Marketplace Courier, eMAG eCREDIT, and a programme for integration of small Bulgarian retailers called Open Bulgaria.
eMAG was founded in 2001 by Romanian entrepreneurs and later expanded in Bulgaria, Hungary, and Poland. South Africa-based Naspers media group acquired a 70% stake in eMAG in 2012.
($= 0.8244 euro)