The Litera Group will take over Elefant.ro through a transaction that ends the period of insolvency of Elefant.ro and marks the relaunch and consolidation of its presence on the online retail market in Romania, ZF reports.
According to an announcement by the two companies, Elefant.ro will undergo a complete rebranding, with a modern design and an optimized interface.
“Romania has one of the lowest reading rates in Europe, and easy access to books is essential for the development of the market. The integration of Elefant.ro allows us to capitalize on the synergies between the companies and create an efficient, customer-oriented digital ecosystem. We are investing in technology, optimizing logistics processes and expanding the offer, in order to best meet the demands of modern consumers,” said Dan and Marin Vidraşcu, representatives of the Litera Group.
”Saving the Elefant.ro project is a success that we are very proud of. Despite the multiple and complex challenges we encountered in trying to keep the business viable, with the support of all partners involved – the providers of e-commerce-specific services, most of the historical creditors and, last but not least, with the support of the buyer, the Litera Group – we succeeded, in record time – twelve months after the opening of the insolvency procedure – in reintroducing the company into the economic circuit. I have every confidence that the Litera Group, one of the most important players on the Romanian publishing market, has all the resources to bring Elefant.ro back to at least the level that established it,” said Geanina Oancea-Olteanu, Senior Partner BDO Business Restructuring.
The Litera Group is one of the main players on the Romanian book market, with a strong presence in book publishing, stationery, school supplies and furniture sales.