Color Smart, sole importer, and distributor in Romania and the Republic of Moldova of the premium and premium plus brands Novacolor, Color Smart, and Pittsburgh Paints, is in full development.
For the new year, the company aims to expand and strengthen its position in the market and estimates a turnover increase of up to 35% compared to 2022, at a value of over 4 million euros.
“We estimate that in 2023 we will reach a turnover of approximately 4.2 million euros. In 2022 we had an increase of about 25%, and for 2023 we expect a surge of 35%. We anticipate higher revenues from distributors and partner stores, up to 40% of the total. We also expect a significant growth in the share of turnkey projects that our new technical team will carry out”, said Cătălina Trupșor, founder and CEO of Color Smart Distribution.
The company has allocated a total budget of around 500,000 euros for the investment plan in 2023. Part of the funds will be used for the relocation of the store in Constanța and very likely for the redecoration of the store in Bacău. At the same time, next year, Color Smart will bring a new brand to the Romanian market, a project for which it has allocated more than half of the amount intended for this year’s total investments. The company is also working on improving the IT system by introducing automation systems and technology based on artificial intelligence. The rest of the money will be directed to sales support materials, but also to the education and training of people – workshops, application schools, etc.
“In 2022 we focused on development in the western part of the country and opened a Color Smart showroom in Timișoara, from where we coordinate distribution throughout the region and manage to offer better services to Romanians in the west of the country who are increasingly interested in interior design. For the next year, we aim to continue to be as close as possible to the specialists and customers who need support throughout their projects. Thus, we plan to expand the distribution system, but also the network of stores with dedicated showrooms in the cities where we are not yet present, such as Buzau, Hunedoara, Târgu-Jiu, Petroșani, Suceava-Botoșani and Iași. Also, from the beginning of 2022, we turned our attention to construction material warehouses with a range of products dedicated to this sales channel, and we aim to identify new collaborations in this segment”, Cătălina Trupșor stated.
Color Smart aims in the new year to further promote the wide range of services that can be purchased by customers, from materials and accessories, to consulting services or to turnkey projects carried out with its teams of applicators. Moreover, turnkey projects represented about 20% of total sales in 2022, and for the new year, the company proposes to develop this segment. In order to be able to offer customers teams of high-performing specialists, the company will continue to organize courses for applicators at the Novacolor Academy, where they train craftsmen for different decorative materials.
Color Smart expects that in 2023 people will invest more in interior designs, even if they will be more careful about what they buy, bearing in mind that they expect a new wave of price increases in the market. Thus, clients will most likely need more advice to optimize their costs while maintaining a high level of quality. In addition, there is a growing demand in the market for luxury finishes, and Color Smart aims to always offer its customers solutions that meet the most sophisticated requirements in this field.