Ivica Todoric, President of The Agrokor Group, has announced plans to launch a new online shopping platform in a bid to boost the company’s annual revenues to 20 billion EUR in the coming years.
Todoric emphasized the value of an e-commerce business, stating that the new project could become the most profitable part of Agrokor. The Group is currently positioned as the largest business conglomerate in South East Europe (SEE) with annual revenues of 8 billion EUR.
In an interview for the Slovenian media portal Finance, Todoric also discussed the acquisition of Mercator, which took six years to be completed. He explained the recent business moves, which included the supermarket chain Konzum taking over Mercator’s stores in Croatia and Bosnia and Herzegovina. According to Todoric, Mercator had to terminate operations in those markets to focus on achieving higher growth in Serbia.
Croatia’s wealthiest man underscored the importance of Mercator for the Slovenian economy, announcing plans to foster its development on the local market. He expressed conviction that Agrokor’s main supermarket chains, Konzum and Mercator, can successfully compete with large international retailers such as Lidl and Hofer. “We have an advantage of understanding the local markets better. Over the past 20 years, we have increased our market shares in many SEE countries,” stated Todoric.
Source: retailsee.com