WESTech Acquires ProGamingShop.sk and MP3.sk
Slovak broadliner WESTech has completed the acquisition of Arašid, becoming the exclusive owner of the ProGamingShop.sk and MP3.sk e-shops and retail network. Arašid, the operator of an e-shop specialising in the sale of games, gaming consoles and gaming accessories under the ProGamingShop.sk brand, and a leading seller of mobile phones and accessories under the MP3.sk brand, has seen its market position improve significantly since WESTech, a member of ELKO Group, made its capital investment into the company.
“We made the decision to fully use our joint potential following WESTech’s investment in our company in June 2018. Collectively we expanded our retail network to include an additional three stores in Trnava, Banská Bystrica and Košice to our current total of 18 stores”, said Miroslav Lakatoš, Sales Director at Arašid.
The company’s revenues in the highly competitive and demanding consumer electronics and IT market grew year-on-year by 10%. The product portfolio also expanded to include new products from leading brands such as Lenovo, Asus, JBL and Logitech, and the portfolio of Apple products also expanded.
In 2019, on average, one in seven households in Slovakia bought a game through ProGamingShop.sk and the MP3.sk network sold more than 30,000 mobile phones.
Matej Sršeň, CEO of WESTech, emphasised that gaining complete equity control over Arašid at the end of 2019 presented future opportunities for the company to engage in its development activities. “Our ambition is to expand into foreign markets and to strengthen our position where we currently operate”, emphasised Sršeň. He added that this step would allow the company to expand its Slovak retail network to include more stores and to create an Arašid flagship store in Bratislava. “Consolidation of the product portfolio and maximum exploitation of the synergies between two companies operating in very similar market segments while gaining an additional and strong B2C sales channel for products and services will make our position stronger and grow revenues as well”, said Sršeň.