expands into Bulgarian market

by   CIJ iDesk I
2020-06-29   10:46
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The Czech e-shop is expanding its activities to Sofia after its founder Tomáš Čupra acquired a stake in the Bulgarian online retailer for €1m. Čupra says he expects to be able to produce similar results from the new venture as he's achieved in Prague, given that the population of both cities is similar and is already a leader in Bulgaria. How long it will take to get there he didn't say, but he added that this year should hit CZK 8bn in turnover in Prague. The company is already operating in Budapest and will be entering the Austrian and German markets this year. "We're extremely determined to expand in Europe," he said. "We'll evaluate the potential of each market for the opportunities to open our own outlets or finding strategic partners." Čupr is so intent on leading the company's expansion that he's turned over the running of the company to Petr Pavlík. Maurice Beurskens will be leading the Austrian division while James McQuillan has been put in charge in Hungary.