eMAG marks a new stage of development with investments over RON 3.2 billion in the next three years to support the accelerated development of ecommerce and announces an evolution of the executive team that will lead the regional expansion of the company. Thus, Tudor Manea takes over as CEO from Iulian Stanciu who becomes Executive Chairman.
In his turn, Iulian Stanciu will continue to remain involved in shaping the development strategy of the company as well as in analysing and approving the investments and budgets next to the new CEO.
“I am honoured to lead eMAG in this new stage in which we will use the experience and know-how we have gained in almost 20 years of online retail to provide our customers with a good experience and to support the entrepreneurial environment. The investments we will making over the next three years will help us offer clients a wider variety of products and better prices, speed in delivery as well as a simplified payment process. Through the infrastructure we are building, we also aim to help local entrepreneurs make the shift to online easier, by transferring them our experience”, said Tudor Manea, CEO eMAG.
For 16 years with eMAG, Tudor Manea, 37, has been general manager of the company for the last six years and has played an essential contribution in the evolution of the business and of the team. Among his achievements Tudor counts setting up eMAG’s technology department and the company’s international expansion. He was the 23rd employee of eMAG and grew together with the company. When he joined the company, the team had just over 20 people and, although his role was in the IT team, on the way home he delivered packages to customers, like the other colleagues. Born in Bucharest, Tudor was passionate about Maths and specialized in IT after graduating from the Faculty of Electronics at the Polytechnic University of Bucharest. He later continued his education in eMAG with an EMBA from the Maastricht School of Management and several executive programs at Stanford University, USA.
“We believe there are plenty of opportunities ahead with the development of the digital economy. We will therefore accelerate our investments to turn eMAG into a regional ecosystem of technology and ecommerce. Of the 3.2 billion lei we are investing over the next three years, 785 million lei will go into international expansion, 447 million lei towards the development of Romanian technology, 251 million lei will go into the development of the digital entrepreneurship through the Marketplace platform, 990 million lei into the development of logistics services and 740 million lei will be invested in other companies. I would like to congratulate Tudor for his new role and for his contribution at eMAG’s development as well as for his personal evolution. I believe Tudor is an example for anyone that by hard work and education anything can be achieved. Together we will work for developing further the services we are offering our clients”, said Iulian Stanciu, Executive Chairman eMAG.
A new stage of investments
In the next three years, the eMAG group will strengthen its presence in the region through investments totalling 785 million lei. In Hungary, where the company merged with Extreme Digital two years ago, the company aims to reach sales of one billion euro in the next five years. In Bulgaria, eMAG will continue to expand its physical presence after opening its first showroom in Sofia last year, and will focus on developing and improving its services for the benefit of customers.
A budget of 447 million lei will be allocated for the development of Romanian technology that will be exported to all countries where eMAG is present and which will benefit other entrepreneurs in the eMAG ecosystem. EMAG invests in the development of its tech team which currently counts over 700 people and only this year it will be expanded with another 100. The technologies developed by eMAG IT specialists integrate artificial intelligence meant to improve the shopping experience, starting from the warehouse, where it helps optimize the collection route of ordered products and thus to a very good delivery time, to searches on eMAG website and mobile app, so that customers can identify the desired products as quickly and easily as possible.
eMAG Marketplace, an important pillar supporting the growth of the company, which is estimated to reach 45,000 Romanian sellers in the next three years from today’s 25,000, will benefit from an infusion of capital of 251 million lei. In 2020, the volume of sales made by the Romanian sellers in the eMAG Marketplace increased by over 90% compared to 2019, reaching 25 million products.
In order to support a wide range of products and a fast delivery, amid the accelerated growth of online commerce, the company will continue investing in logistics for digital infrastructure: the new logistics hub in Joita, Giurgiu, will become fully operational in September 2022, and the easybox network will be doubled in the next period of time to make delivery easier, predictable and fast. Investments in logistics will amount to 990 million lei in the next three years.
eMAG is a company that constantly encourages the development and improvement of the professional skills of its employees through development programs, and for this it has budgeted 45 million lei for the next three years. This budget is dedicated to accelerated learning programs through partnerships with reputable universities, such as Harvard, Yale or Stanford. At the same time, the company continues the Future 25 program through which a selected pool of young talents are trained to become leaders in ecommerce. eMAG employees benefit from over 45,000 hours of learning and training every year.
eMAG aims to be a partner for the accelerated development of the Romanian entrepreneurs, and it plans to invest 740 million lei both in already well known companies, where it holds shares, as well as in other technology companies that bring innovation in products and services for customers, through eMAG Ventures investment program. Among the companies where eMAG has invested, Tazz by eMAG has seen an extremely fast evolution in less than two years since the investment, growing from a food delivery company to a fast delivery company for almost anything. Sameday, another fast-growing company where eMAG has invested, is preparing for international expansion, first in Hungary and then in other countries in the region.