Omnitech goes from neckties to appliances

Conglomerate-type companies, involved in a variety of businesses, are increasingly developing on the Romanian market, especially in the trade sector. Their officials say this structure has certain financially advantages. One such company is Omnitech Trading, which sells products in Romania made by over 20 foreign companies, from neckties and shirts, to farming equipment, luxury furniture and IT goods. It also announced on Monday that it has tapped into a new market, that of small domestic appliances, such as irons, coffeemakers, hair-dryers and microwaves, all made by UK-based Scarlett. The company plans to attain 5% of the Romanian small appliances market during the first year after the introduction of these products. Omnitech is the sole Romanian representative of a number of producers, such as Berloni (furniture and interior decorations), Hilti (professional tools) and Andrew’s Ties (neckties, shirts). Omnitech officials say the main advantage of diversifying is the financial flexibility. ZF