Vinexpert to reach 5m euros from wine retail by 2010

Vinexpert, the most important wine retailer on the Romanian market, intends to see its turnover reach the 5 million-euro mark by 2010, compared with the 0.9 million euros reported last year. “We will end this year with business worth 1.5 million euros, and for 2008, we have planned a 3 million-euro budget. We will rely a great deal on developing evinoteca.ro (an online wine store i.e.) as well as on developing our retail network,” said Catalin Paduraru, Vinexpert’s shareholder. The company currently holds three stores in Bucharest and one in Brasov, and its development plans include the opening of a further three stores in 2008. Catalin Paduraru, former shareholder of a wine distributor, decided to exit this business, with retail currently being his only project. “I am considering an exit within the next ten years, but this could take place in several stages. There is always the possibility for an investment fund entering the business, helping increase its value, and then selling it to a similar Western operator,” explained Catalin Paduraru. The Vinexpert representative believes that currently, the market is not mature enough to be attractive for the big international players in the field.