The list of top household appliance, electronics and IT&C companies at the end of 2006 included market leader Altex, with a business worth €212 mln, followed by Flamingo International, with €132 mln, and Domo, with €122 mln.
This is not the first time Domo occupies second place. It held the title in 2005, behind Altex, until the acquisition of the Flanco network by the Flamingo company pushed the newly-formed company into second place. By the end of H1 2007, Altex posted €112 mln in business, Flamingo 68 mln, while Domo registered no reports during the period in which its sale was being negotiated with the Equest investment fund.
The significant rise in Domo’s turnover may be explained by sales to the Bulgarian Technomarket network, which buys supplies from Romania, where certain products are cheaper. Last week, Equest Investment Balkans Limited took over a 75 percent share package of Domo Retail, for €62.5 mln. The transaction was finalized through Equest’s subsidiary, Lynx Property B.V.
“This transaction gives us new perspectives for future developments. We are part of a regional group, with a sales target of €1 billion for 2009,” said Lorand Szarvadi, founder and CEO of Domo Retail. Domo has a 116-store national network, which totals over 50,000 square meters and 1,350 employees.
