Konzum news

Croatia’s Konzum, which is part of the Fortenova Group, has enabled shoppers to pay with nine different cryptocurrencies through its online stores. Solution enables shoppers to pay online with range of cryptocurrencies Konzum has allowed shoppers to pay with a range of cryptocurrencies, including Bitcoin, Ether, Bitcoin Cash, EOS, Dai, Ripple, Stellar, alongside stablecoins like Tether and ...

As Netherlands-based Picnic enjoyed a doubling in turnover in 2019 and Farmy tripled its sales in 2020, we look at four developments in the online channel across Europe. Farmy tripled its turnover in 2020 Farmy, an online grocery specialist that only sells regional and organic products from more than 1,200 authentic producers in Switzerland, has reported growth of 170%, to CHF26m (US$29.2m)...

Agrokor’s retail business, Konzum, reported revenues of HRK4,739m (€639m) for the first half of 2018. This included the company's Croatia and Bosnia-Herzegovina (BiH) operations. The retailer is on course to recover in 2018. We forecast Konzum sales will grow by 1% to HRK9,300m (€1,253m) for the year. This is an improvement on its performance in 2017. Source: www.agrokor.hr Kon...

Agrokor Group reports a 12% decline in sales in 2017 for the retail and wholesale business segment – that primarily consists of the Konzum banner - to reach HRK 31.2mn (€ 4.2mn). Although profitability reported an improvement of 19% following some cost optimisation changes, and closure of unprofitable stores in the same year. Ceased supplier trading in first half of 2017 started decline in sa...

In December 2017, Agrokor announced it will move its headquarters from its well-known Cibona business tower to a smaller office location to accommodate the reduced number of employees. This reflects some of the major changes the state-administered company will face in 2018, the key one being the new ownership of the company by its creditors as announced by the state appointed administrator for Ag...

We look at Mercator’s and Konzum’s latest financial results considering Mercator ’s refurbishment programme in 2017 and Konzum’s focus in 2018. Mercator sustains return to profitability The Slovenian retailer, and Agrokor subsidiary, reported a 2.7% decline to €1.7 bn in sales revenue for the first nine months of 2017. Mercator has prioritised a cost optimisation strategy for 2017 that ha...

We report on Konzum’s results for the first five months of 2017. We also highlight how Agrokor’s retail business will be split between Konzum and Mercator in Bosnia-Herzegovina (BiH), outlining what this means for the wider market. Konzum double-digit decline in first five months of 2017 Agrokor has released its Konzum results from the first five months and reported HRK 3.4bn (EUR 463mn)...

Agrokor’s government assigned trustee, Ante Ramljak, announced an inevitable break-up of the Croatian conglomerate to pay back its debts. IGD looks at the impact of Agrokor’s restructuring on its retail operations, Konzum and Mercator, and their prospect for the remainder of 2017 and 2018. Konzum sales decline and closures in 2017 The only indication of the retailer’s latest performance i...

Mercator brand will possibly return to Bosnia & Herzegovina (BiH) following a meeting between the country’s council of ministers and Agrokor’s trustee, Ante Ramljak, in May 25th. The government-assigned trustee considers this a necessary move if the jobs of Agrokor’s employees to be protected and dues to suppliers to be paid. Mercator insecure financial situation for BiH entry Mercator mu...

On Friday 7th April, Agrokor’s CEO and majority owner, Ivica Todorić, handed over control of the indebted company to the Croatian government. Mr. Todorić  activated a process of ‘extraordinary management’ following the passing of a special law that was voted through by Croatia’s parliament that same day. Law passed to protect Croatia’s biggest private sector employer Agrokor reported in ...