Elmark Invest EAD (Bulgaria)

Elmark Invest EAD is a leading Bulgarian manufacturer and distributor of low-voltage electrical equipment and lighting solutions with over 20 years of experience. All products are available with European quality certificates and with up to 7 years warranty. The company offers more than 12,000 products under the ELMARK brand in more than 60 countries and its main customers are in Central and Eastern Europe. Sales are carried out through a hybrid B2B/B2C offline and online business model. The ELMARK Group operates 23 stores/showrooms in 10 countries in Central and Eastern Europe, Dubai and it is responsible for developing the Middle East and Africa market. The Group's revenues recorded a 7% average annual growth for the period 2016-2021, while cost optimization and digitalization led to a significant improvement in profitability, respectively a 45% average annual growth in net profit. The strategic development of the ELMARK group until 2026 is based on a plan for stable market expansion in new markets, as well as the introduction of a new business line in the B2C segment. For this purpose, in the next few years, it is planned to include around 36 new points of sale in Central and Western Europe, and thus expand its market presence to a total of 18 countries by 2026. Building on the investments made in digitization, in commercial and warehouse space, and taking advantage of the synergies with the current business model, in 2022 the Group started preparations for the development of a completely new Home Finishing market concept. It includes the development of an entirely new digital marketplace to offer the full range of products needed for home and office finishing, renovation and furnishing. The planned launch date of the overall Home Finishing project is January 2024 in Bulgaria, then in stages until 2026 in 5 more countries of the region. If implemented successfully, the new B2C Home Finishing business line could increase the Group's revenue and profit by 6 times and 4 times respectively.