Elvila owner: It's time to resume expansion because costs are down

Having had enough of politics, Viorel Cataramă, one of the best-known and oldest members of the National Liberal Party, says it is now time to dedicate himself to his personal life, and that his nearly 100 million-euro business Elvila is enough for him. Cataramă, 55, is one of the most powerful entrepreneurs in the furniture industry, whose name is identified with the furniture market, as is Dan Șucu, the Mobexpert owner.

After over two years during which he preferred to keep a low profile, Cataramă has talked in an interview given to Ziarul Financiar about his plans: exports, opening new stores, and improving profit margins in 2012.
“I made the mistake of getting involved in politics in the past 20 years, but I lost money and came to the conclusion that I need to take care of my life, as well, and that a business the size of Elvila is enough,” the businessman says. In March this year, Cataramă was excluded from the PNL (National Liberal Party).
In the past, Cataramă also invested in the banking sector, where he founded and then sold Libra Bank. Asked if he would be willing to invest in the banking sector again, he said he would not, although many businesspeople are pursuing this at present.
Cataramă identified the potential of exports and plans to export 40-45% of production, benefiting from the RON depreciation. Exports are in fact his main focus.
The low-price segment targeted by Elvila has been the least affected in the furniture industry, while retailers of medium-priced and premium furniture have been seriously hurt by the purchasing power decline. Cataramă believes discounted products sell best at present, but that it is time to resume expansion because costs are down, to levels unimaginable a few years ago.