March, 2022 / Volume 26, Issue 2
www.business-review.eu
CLUJ TECH STARTUP HIRES 70 SOFTWARE ENGINEERS IN JUST OVER A YEAR
16
TECH SECTOR MAY BE ROMANIA’S BIGGEST ECONOMIC STRENGTH
20
MICROADVENTURES: THE GREATEST TRAVEL TREND OF 2022
26
BUILDING LEGACY THROUGH ART
36
PEOPLE TO WATCH IN 2022
www.business-review.eu Business Review | March 2022
EDITORIAL 3 COVER STORY
• Editorial •
Anda Sebesi • Editor-in-Chief • 6 People to watch in 2022 HOTEL MARKET
Learning from the past to create a better future Russia’s invasion of Ukraine could become the biggest military action in Europe since 1945. It also marks a new era of high-risk economic warfare that could further splinter the world economy. The measures the West has imposed on Russia are so potent that they have triggered chaos in its USD 1.6 trillion economy, according to the online edition of The Economist.
18 Joining forces on the local hotel market
ENTREPRENEURSHIP 20 Tech sector may be Romania’s biggest economic strength
22 Romania’s OECD accession could change funding approach for local startups
The current international context is doubled by a record-high increase in natural gas prices in Europe as well as by covid-19 pandemic, which even though is now on a visible downward trend,
TRAVEL
still raises concerns for the months to come. Although it is difficult to predict what 2022 will look like in light of recent political and economic developments, 2021 was a very
26 Microadventures:
good year for many sectors in Romania, during which companies from a series of industries like real estate, retail, IT, finance or bat-
the greatest travel trend of 2022
tery production saw their businesses growing and posting major achievements, from positive financial results to expansions to other markets and successfully keeping their teams intact. This is why we have dedicated this month’s cover story to the people everyone should watch in 2022. They are CEOs of large companies who have succeeded to generate growth in these turbulent times by harnessing market opportunities and transforming challenges into new development opportunities for their companies. They have also learned to not be afraid to take risks and always see the positive side of a new challenge, no matter how many disappointments they experience in their business endeavours.
CITY 34 Rural culture crops: preserving the cultural life of Romania’s countryside
36 Building legacy through art
38 Cultural calendar
EDITOR-IN-CHIEF: Anda Sebesi JOURNALISTS: Aurel Constantin, Mihai Cristea, Romanita Oprea, Oana Vasiliu CONTRIBUTORS: Ovidiu Posirca, Claudiu Vrinceanu COPY EDITOR: Anca Alexe PHOTO EDITOR: Mihai Constantineanu PHOTOS: Dreamstime ART DIRECTOR: Raluca Dumitru PUBLISHER: Bloc-Notes Media Network ADDRESS: 82-98 Calea Grivitei, 1st floor, Hotspot Workhub, District 1, Bucharest, Romania SALES MANAGERS: Radu Fireteanu, Alexandra Rosca MARKETING & SALES MANAGER: Luiza Luca PRODUCTION: Dan Mitroi DISTRIBUTION: Eugen Musat EXECUTIVE DIRECTOR: George Moise GENERAL MANAGER: Catalin Alistari USA MANAGER: Oana Molodoi FOUNDING EDITOR: Bill Avery EMAILS: editorial@business-review.eu, sales@business-review.eu, events@business-review.eu SUBSCRIPTIONS on Manpres Distribution Business Review is a member of Fwei
Publicație auditată pe perioada Apr 2015 - Mar 2016
ISSN NO. 1453-729X
www.business-review.eu Business Review | March 2022
4 NEWS
WHO’S NEWS BR welcomes information for Who’s News. Submissions may be edited for length and clarity. Get in touch at mihai.cristea@business-review.eu
43% of business leaders say boards lack commitment to ESG factors By Deniza Cristian growth and leaders’ willingness to support this through corporate governance. 66 percent of leaders combined see the top two advantages of integrating ESG factors in their corporate
Oana Stamatin has been appointed as ESG Chief Officer at Colliers Central and Eastern Europe. Previously having served as the Deputy Head of Green & Healthy Buildings Certifications and Building Surveying at Colliers in Romania, Oana will be responsible for the implementation of ESG goals in the CEE region as set out in Colliers’s global ESG approach, which was launched in 2021. Additionally, she will develop and build an ESG education programme for CEE employees and launch a marketing and communication strategy for ESG services.
strategy as first, creating longterm value through new ESGdriven products and services, and second, ensuring resilience to ESG risks. 83 percent of respondents said they would like mandatory reporting of ESG performance measures against global standards.
Massimo Bettanin, EY Romania The annual EY Long-Term Val-
growth. However, there’s also
of the organisation and with
ue and Corporate Governance
been an increase—from 28 to 43
external stakeholders. Howev-
Survey highlights a significant
percent—in respondents identify-
er, such increased attention on
rise—from 66 to 84 percent—of
ing a lack of commitment from
ESG can produce tangible and
board and C-suite members
boards towards making decisions
long-term results only if it is
who say the covid-19 pandemic
that fully integrate ESG factors
an integral part of the business
has increased expectations
in ways that generate long-term
strategy and is factored into
from consumers, employees,
value.
the organisation’s governance
governments, and the broader
Mihai Voicu, the General Manager of BERGENBIER SA, part of the Molson Coors group, was elected President of the Romanian Brewers Association. Voicu took over this position from Paul Barnett, the President of URSUS Breweries, who had held the position since June 2021. Mihai Voicu has been the General Manager of BERGENBIER since March 2020. He joined the Molson Coors group more than 11 years ago, previously having worked as General Manager at Kamenitza Brewery Bulgaria and Sales Manager at BERGENBIER SA.
page 5
“ESG is now part of daily business discussions at all level
The survey also identifies ten-
framework,” says Massimo
society for companies to drive
sion between the advantages of
Bettanin, Partner for Climate
societal impact, environmental
ESG-driven corporate strategies
Change and Sustainability at EY
sustainability, and inclusive
fostering long-term, inclusive
Romania.
Holde Agri Invest posts net profit of more than RON 7 million in 2021 Holde Agri Invest, a Romanian
tions made during the year, the
company that operates agricul-
company currently operates a
tural land, posted consolidated
total land area of almost 10,000
revenues of RON 59 million in
hectares in its three core farms –
2021, 46 percent higher than in
Rosiori, Frumusani and Videle,
2020, and a net profit (accord-
of which 1,900 hectares are
ing to IFRS) of RON 7.3 million,
organic farming land.
a 38 percent increase compared to 2020. Following the acquisi-
In 2021, Holde generated 28,301 tonnes of technical crops,
Compared to the 2019-2020 agricultural year, Holde’s total production increased by 18 percent
www.business-review.eu Business Review | March 2022
NEWS 5
Biofarm’s net profit up 11% in 2021 By Deniza Cristian Biofarm, one of the biggest drug manufacturers in Romania, reports positive developments in its preliminary 2021 results, with a turnover of RON 239 million and a net profit of RON 60 million, up 11 percent from 2020. In addition, the company reported an EBITDA of RON 82 million, up 10 percent from the previous year. “Innovation, the driving force behind Biofarm’s mission, is strongly reflected in the figures for 2021, a year marked by significant achievements in
The company reported an EBITDA of RON 82 million
Giani Kacic is the new global CFO of TEILOR. With over 23 years of professional experience in the financial field, spanning across multiple industries such as pharmaceuticals, oil and gas, and real estate, Giani Kacic will be responsible for the company’s financial activity globally. Before joining TEILOR, between 2018 and 2021, Giani held the CFO position at Impact Developer & Contractor. Previously, for 15 years, he worked in various management positions within Rompetrol, part of the KMG International Group.
all areas. The most important events that defined Biofarm
Biofarm finished last year in sec-
also been allocated to launch
in 2021 were the celebration
ond position in terms of volume,
new 360-degree communica-
of 100 years of uninterrupted
and in fourth position in terms
tion campaigns to increase
activity, the inauguration of
of value in the CHC (Consumer
notoriety and test rates for
one of the most modern drug
Health Care) category.
portfolio brands. Biofarm’s portfolio covers
factories in Romania, and the
Constant investments in in-
launch of Biofen Extra, which
creasing brand capital, especially
the most important thera-
helped us activate one of the
for the top brands in Biofarm’s
peutic areas in the Consumer
most important CHC categories
portfolio, were also an important
Healthcare division: digestive
in terms of business potential,”
pillar of 2021. The process of re-
& metabolic, respiratory & ORL,
said Catalin Vicol, General
vitalising the visual identity of 9
cardiovascular & circulatory,
Manager at Biofarm.
other brands in Biofarm’s portfo-
nervous system, and multivita-
lio was also completed in the past
mins, with over 20 representa-
year. Consistent resources have
tive brands.
In terms of sell-out (sales from pharmacies to patients),
of which 2,121 tonnes of organic crops of wheat, sunflower, and peas, as well as 26,180 tonnes of conventional crops of wheat, corn, rapeseed, sunflower, and soybeans. Compared to the 20192020 agricultural year, Holde’s total production increased by 18 percent. On the one hand, this evolution was determined by the optimisation of its used mechanised fleet and the newlyimplemented production processes, and on the other hand, by meteorological factors.
Laura Alina Dezsi has been appointed by Alexandrion Group as its Commercial Director for Romania. She will coordinate the activity of the sales traditional trade, sales key accounts, consumer marketing, and events management teams, reporting directly to Nawaf Salameh, the Group’s Founding Chairman & CEO.
Mike Hapoianu joined Portland Trust as Office Leasing Manager in early February. Mike has extensive experience in sales and real estate, in Romania, the United States, Poland, Turkey, and Bulgaria. He will coordinate all leasing activities for new tenants and take over existing tenant relationships for Portland’s managed office developments. Previously, Mike was the General Manager of Mindspace Romania & Poland for two and a half years.
6 COVER STORY
www.business-review.eu Business Review | March 2022
PEOPLE TO WATCH IN 2022 Even as the coronavirus pandemic continued to make waves in 2021, the local business environment managed to overhaul its strategies in order to post positive results, build new business plans, and deal with the difficulties generated by the crisis. But at the same time, companies were also hit by issues like rising energy costs and the lack of specialised workforce. Nevertheless, the last two years have taught business leaders one of the most valuable lessons: that any crisis can be turned into in a real opportunity for further development. Business Review talked to the leaders of some of the most dynamic industries in Romania to find out how they’ve managed to find success during the pandemic and discuss their plans for 2022. Read on to learn all about the business leaders you should watch in 2022! By Anda Sebesi
www.business-review.eu Business Review | March 2022
COVER STORY 7
A visionary business woman Having made her mark on some of IMMOFINANZ Romania’s major business accomplishments last year, Fulga Dinu, Country Manager Operations, sat down with Business Review and talked about the real estate developer’s plans in Romania for this year.
2
By Anda Sebesi
021 was quite a challeng-
were just three of IMMOFINANZs
ing year for Fulga Dinu, but
many major business accomplish-
for different reasons than
ments in 2021. In short, the posi-
2020. While the uncertainty of the
tive side of 2021 for the company
pandemic continued in 2021, the
had to do with all the innovative
element of surprise was gone, as
transactions it managed to close.
business players had learnt how
“I should also add that this was
to tackle the situation. “Since I
possible thanks to a wonderful and
identify with the company quite
dedicated team that remained mo-
closely, last year’s strategy was
tivated and open-minded through-
based on moving ahead with plans,
out the rather harsh times we were
quickly adapting to any unex-
going through,” Dinu notes.
pected circumstances, and working
In 2022, Dinu says that the
to achieve our goals. This strategy
company will roll out its interna-
was proven right,” she says. Yet the
tionally recognised myhive office
pandemic context remained the
brand in yet another office build-
top challenge of 2021, and it meant
ing. “In addition, as if we were
steering the IMMOFINANZ busi-
able to foresee the new demands
ness sturdily through rough wa-
brought along by the pandemic in
ters. “However, I strongly believe
the office segment, we will also be
that unexpected situations can also
launching our flexible offering in
generate amazing opportunities, so
the myhive buildings, a solution
I would say that last year was quite
that will allow our customers to
a successful one,” Dinu adds.
enjoy full flexibility, whether for
At IMMOFINANZ , 2021 was marked by innovative strategies
short or long term leases, in terms of both the spaces (from single
and solutions. The company started off the year by acquiring the for-
desks to fully serviced and furnished office spaces) and the services
mer BCR headquarters on Victoriei Avenue, a landmark building that
they require. We shall also continue investing in our retail properties
will undergo a major refurbishment which will not only transform
in order to increase their attractiveness and help them adapt to the
the building’s appearance, but also rejuvenate the entire Bucharest
ever-changing market requirements,” she says. Although 2022 looks
old centre area. Then, IMMOFINANZ signed a long-term lease in
promising, it will also be marked by the energy crisis. “Our industry
one of its newly refurbished buildings in IRIDE Park —the refurbish-
will continue to be influenced by the fast-changing demands of our
ment had been carried out successfully in pandemic year 2020—with
customers, in both the office and the retail segments, but we’re al-
Provita, a renowned hospital operator, thus reshaping the perception
ready working on solutions that will certainly turn out to be right for
of the Dimitrie Pompeiu area and opening a new line of business for
them. I’ve already mentioned our flexible office product, and for the
the real estate developer. “And
retail segment we’re looking to
last but not least, we started
make the shopping experience
the refurbishment of our VIVO!
more convenient, family-
shopping centre in Baia Mare,
oriented, pleasant, and safe. In
which was also marked by a
a nutshell, we will continue to
first as our partner Lidl opened
do business in a sustainable,
a store inside a mall for the first
successful, and ever-adapting
time in Romania.” And these
manner.”
www.business-review.eu Business Review | March 2022
8 COVER STORY
Pushing for transformative solutions Julien Munch, the CEO of Carrefour Romania, says that his main strategic pursuits this year will include online and offline expansions and strong focus on proximity formats, staying true to the company’s omnichannel profile. At the same time, the company will continue to partner up with local farmers and producers in order to provide fresh local products to its customers.
J
By Anda Sebesi
ulien Munch became the CEO of
Carrefour Romania has been focused
Carrefour Romania at the begin-
on its partnerships with local farm-
ning of 2021 and, since localisa-
ers and producers in order to always
tion is a very important direction for
provide fresh local products for its
the company and also something he
customers. The Gradinile Noastre din
strongly believes in, he travelled over
Zarand Cooperative and its 20 farm-
7,000 km to explore Romania and gain
ers, along with more than 130 other
a better understanding of the local con-
farmers in the Varasti Cooperative,
text. “It was essential for me to meet
are two such examples. “We will also
and talk to experienced colleagues,
continue to invest money, know-how,
local producers, and customers, on top
and human resources in cooperatives.
of what I did in my day to day work, in
We are currently collaborating with
order to understand their needs and
the Varasti and Gradinile Noastre din
continue to adapt our strategy accord-
Zarand cooperatives. To these we
ingly,” he explains.
can add flagship programmes such as
The pandemic and its risks and the associated restrictions have been the
Crestem Romania BIO and Deschidem Vinul Românesc, which continue to
biggest challenge for Carrefour Romania recently, but it has relied on
grow each year,” he adds. From a financial perspective, the retailer
its agility.
achieved results that came in line with its expectations and con-
As such, 2021 saw a series of major business achievements for
firmed the volatility surrounding the retail sector. “We recorded a 2
Carrefour Romania, which continued its expansion both offline and
percent growth in sales in comparable terms, driven by high client
online, by opening 27 stores, of which 23 in the Express category. It
satisfaction, despite the fact that our hypermarkets in commercial
also made moves in the e-commerce area, continuing its expansion
centres were impacted by restrictions.”
with Bringo and crossing the threshold of 100 stores included in
Munch says that this year, the company will keep a strong focus
the platform. “The launch of the 30-minute fast delivery service for
on its proximity format and omnichannel model. Equally important
small formats in August 2021 contributed to this figure. Six months
are partnerships with local producers, as part of its global Act for
after its launch, the service is already available in 9 cities and
Food commitment. “We now have the highest number of partner-
includes 48 stores. Our objective is to bring it to all major Romanian
ships with local producers on the market, namely more than 1,000,
cities this year,” says Munch.
300 of whom are ultra-local producers who only deliver small quan-
The relationship with customers was another area of focus last
tities to stores in their vicinity. These are partnerships that benefit
year for the retailer, which launched the Act for Good programme.
the local economy, the farmers and producers involved, as well as
The unique digital platform in the Carrefour app transforms shop-
our customers, who have access to an increasingly rich assortment
ping into a personalized experi-
of Romanian products through
ence with social impact, and in
the Carrefour network,” Munch
doing so attracts responsible
notes. As for the future, Munch
consumers. “In just one year,
puts it simply: “Quick and
the Act For Good programme
smart reactions in this complex
reached 1 million active app
environment, coupled with a
users and 6 million monthly
long-term vision, will make a
visits”, underlines Munch.
difference in both the private
For the past several years,
and public sectors.”
www.business-review.eu Business Review | March 2022
COVER STORY 9
Perfection is in the details The local construction market is very dynamic and it is dealing with many challenges, the most critical being the shortage of specialist workforce. BR sat down with Razvan Parvulescu, Business Development Coordinator at BTDConstruct & Ambient, to find out how the company did in 2021 and gain insight into its plans for this year.
B
By Anda Sebesi
TDConstruct & Ambient, a
the past two years, as representatives
Romanian construction com-
believe it will bring considerable bene-
pany founded back in 2013,
fits to the company over the long term.
saw intense business activity last year,
“Our employees are already using a
when it continued construction for
dedicated system: the 5D BIM Model-
several projects started in the previous
ling programme. In terms of a timeline,
year, but also focused on winning new
we expect BTDConstruct & Ambient
contracts in the residential sector.
to be a fully digitalized company by
“Even though last year was still
the end of the third trimester of 2022,”
marked by the pandemic, I can certain-
Parvulescu notes. In terms of financial
ly say that overall, it was a good year.
performance, he says that based on the
Businesswise, the industry experienced
company’s current projects and plans
a remarkable recovery, and personally
to increase and diversify its portfolio,
I was pleased that we have been able to
it is expected to reach a new financial
hold physical meetings again. The busi-
milestone in 2022 in terms of turnover,
ness atmosphere was occasionally dy-
especially since last year’s turnover
namic; we attended MIPIM [the world’s
maintained an upward trend, exceed-
leading real estate event] in September
ing EUR 61 million.
last year, together with a joint delega-
Asked about the biggest challenges
tion of various companies operating in
of last year, Parvulescu says that
the Romanian construction industry,”
having an adequate workforce that
says Razvan Parvulescu.
includes specialists, craftsmen, and
BTDConstruct & Ambient specialises in offering integrated services,
skilled construction workers remains a challenge for the company,
from architectural projects to superior engineering, project manage-
as it is for other players in the industry as well. “In fact, the lack of
ment, and complex digital systems. The company’s core mission is
labour force, at all levels of specialisation, is considered to be the
driven by a simple concept: details make the biggest difference.
biggest problem facing the industry in Romania.” He adds that the
Confirming its high-quality work, the company last year ranked
social and economic uncertainty was another difficult part of 2021.
18th in the Top 100 General Contractors in Construction (an inde-
“At the beginning of last year, this was my main concern. But once
pendent ranking published annually by IBC Focus). “We were also
vaccination became available, I was able to see things more clearly
nominated for Best Constructor of the Year at the 2021 CIJ Awards
and plan my actions more accurately.”
Gala Romania,” says Parvulescu. As human resources are crucial for
Parvulescu says that BTD sees the Romanian construction
the success of any business, the BTD Group of Companies (with
market as being dynamic and ever-developing. “We’re seeing a tech-
BTDConstruct & Ambient at its core) has a team of professionals
nological revolution on the horizon, as a result of the more intense
which is constantly growing,
pollution, on the one hand,
having now reached approxi-
and of the insufficient labour
mately 200 specialists in fields
force on the other. Green
such as Project Management,
buildings and sustainable
Construction Works Manage-
projects are starting to domi-
ment, and Business Support.
nate the conversation, and
Digitalization has also
we are strongly supporting
been a top priority for
the move towards resource
BTDConstruct & Ambient over
efficiency.”
www.business-review.eu Business Review | March 2022
10 COVER STORY
Optimistic signs for the local real estate market in 2022 After building a new terrace at Timpuri Noi Square and planning the project’s Phase 2, which will be focused on the retail component, Vastint Romania has high expectations of 2022. BR sat down with the company’s Managing Director, Antoniu Panait, to talk about plans and objectives for this year.
A
By Anda Sebesi
lthough slightly
a result of the company’s
uncertain, 2021
high quality projects and
turned out to be
the safety measures it
suitable for business deci-
implemented during this
sions. As a real estate com-
period. “Secondly, busi-
pany, Vastint Romania con-
ness wise, we managed
stantly analyses the needs
to add a new terrace at
of the market, its potential,
Timpuri Noi Square and
whether clients’ requests
we are planning Phase 2 of
match its own standards,
this project which will be
and so on. “Having the
focused on the retail area.”
ability to reflect upon all
As for the company’s
these details has proven
plans for this year, Panait
very useful, allowing us to
says that work on Phase
be more confident that the
2 of Timpuri Noi Square
projects we embark on are
will begin as soon as the
the most suitable for the
market will allow it. “2022
Romanian market,” Panait
started on a positive note,
says.
as we’ve been seeing an in-
The pandemic has not
crease in office space lease
only disrupted people’s daily routines and interactions over the past
requests.” He adds: “As humans are social beings, it’s clear that two
two years, but it has also wreaked havoc on their mental health.
years have been more than enough to understand that working from
“The constant changes that companies have had to deal with have
home doesn’t work for everybody, and therefore we are expecting
represented major business challenges, and they’ve resulted in
the number of employees who return to the office to continue grow-
significant fluctuations both in tenant presence in offices as well as
ing. 2021 had a slightly higher rate of predictability than 2020, and
in the general demand for office space,” Panait explains. However,
we’re preparing for an even more business-friendly 2022.”
he adds that thanks to its high technical standards, Vastint Romania
Panait says that it is still too early to predict how 2022 will end,
could provide the best possible working conditions to its tenants.
but that this doesn’t stop Vastint Romania from being positive and
“Our main focus has definitely been to ensure excellent conditions
confident that the real estate industry will move forward at full
for everyone who entered our buildings.”
speed in the coming period. “The market has been learning and
Asked about Vastint
adapting in the last
Romania’s achieve-
two years, and we will
ments of last year,
definitely see more
Panait says that the
deals being closed in
biggest one was that
2022. And hopefully,
the company managed
the global situation
to keep all its employ-
will be safe enough to
ees safe and healthy
allow us to carry on
while at the office, as
with our plans.”
www.business-review.eu Business Review | March 2022
COVER STORY 11
Building strong teams and long-lasting partnerships Metro Romania CEO Adrian Ariciu had a very good 2021, as his company recorded an increase in turnover and made significant progress in all its business areas.
“
By Anda Sebesi
As CEO, my priorities have
potential and in the success of the
been and will always be to
wholesale model. It takes courage
build and invest in a strong
to consolidate a business model in
team and establish long-lasting
a modern economic environment,
partnerships with our professional
but if the priority is the customer
clients and partners.” This is what
and if processes are designed to
Adrian Ariciu, the CEO of Metro
help and contribute to the success
Romania, said at the beginning of
of their business, good results will
our interview with him. Last year
follow.” From a financial perspective,
was very good for the company, as it managed to achieve several
METRO Romania recorded an in-
important goals. The retailer ac-
crease in turnover last year. “This
celerated the expansion of the
growth was mainly based on the
LaDoiPasi franchise, optimised its
accelerated development of the
logistics processes, and developed
LaDoiPasi franchise, the expan-
digital solutions and a multichan-
sion of the logistics centre that
nel business model for its profes-
provided us with optimal capacity to cope with the growing demand,
sional customers. This required an effort from the whole team, to keep the product range aligned with
as well as the company’s digital transformation, which contributed
demand and ensure its availability at the highest quality standards.
to the streamlining of internal processes.”
“To stay on top of the ever-changing market, we started a major
Asked about the challenges the local retail sector may face this
digitalization process, its main goal being to accelerate and develop
year, Ariciu says that we’re witnessing an increase in food prices and
digital solutions that respond to today's requirements. This is an
that the cost of the average shopping cart is likely to rise further.
essential process for us and we have made substantial investments,
In the production cost structure, we can already see an impact on
and the results can be seen on all levels,” he says. Among the digital
logistics, transport, wage increases, auxiliary materials, packaging
products launched by Metro Romania last year were DISH, a plat-
or non-food products. “The greatest challenge for the retail sector
form for hospitality businesses, and the METRO app, an alternative
may come from potential consumption habit changes following a
to the traditional card that clients use to access electronic invoices,
decline in consumers’ financial resources. Due to the price increases,
see real time product availability and prices, and find the latest dis-
consumers will look for the cheapest products in each category,” he
counts and catalogues.
explains.
Ariciu says that the acceleration towards e-commerce that was
This year, Metro Romania will focus on three growth pillars:
imposed by the pandemic has forced the company to improve its
developing an ecosystem of digital solutions for its professional hos-
existing services as well as develop new ones that meet today's
pitality clients and traders; accelerating its food service delivery pro-
needs. “It is clear that digitalization and e-commerce will also domi-
cess to better serve its professional multichannel customers without
nate 2022, as they are
any gaps in supply and
essential strategic ways
product quality; and ex-
to improve consumer
panding the LaDoiPasi
experience. However,
franchise to 2,000 stores
these will only be able to
by 2023, maintaining its
evolve with optimised lo-
position as the market
gistics. I am confident in
leader in franchised
the Romanian market’s
convenience stores.
www.business-review.eu Business Review | March 2022
12 COVER STORY
Focus on consolidation With innovation at the core of its business strategy, Leader Team Broker has developed a visionary approach that enables it to provide insurance to companies in 20 EU member states. Founder Razvan Rusu says that his focus in 2022 will be on consolidating the company’s product portfolio and team.
L
By Anda Sebesi
ooking back at 2021, Razvan
expansion. In addition, its prod-
Rusu says that although
uct portfolio was adapted and
it was difficult from many
upgraded in order to adequately
points of view, it was also a year
serve companies in 20 EU member
when the company took advan-
states. It was also the best finan-
tage of new market opportunities
cial year in the company's history,
and, to some extent, implemented
despite the difficult economic con-
lessons learnt during the previ-
ditions. “We brokered premiums
ous crisis. “The 2008-2009 crisis
worth more than EUR 7.2 million,
taught us that the biggest mistake
which is an increase of about 20
you can make in difficult times is
percent compared to the previous
to panic. Instead, you must take a
year. Plus, we managed to retain
step back, look at the market and
almost all of our people, which is
the economic climate as a whole,
a real achievement in the current
then reinvent yourself and come
context,” Rusu notes.
up with new solutions that are
The crisis on the labour market,
adapted to economic realities,” he
which has been affecting the
argues.
Romanian economy for years now,
The world is changing at a much faster pace than it did in the 80s and 90s, and the jobs which are
has also reached the insurance sector. It's getting harder and harder for players in the field,
emerging at an unprecedented speed, especially in technology, also
including for Leader Team Broker, to find insurance specialists. “We
require insurance. “Traditional products are not adapted to these
are not lacking ideas; we are running short of people interested in
new jobs, and that's what we are doing: redesigning and creating in-
learning and implementing our innovations.”
surance products to keep up with the changes and find our place in
This year, Leader Team Broker will continue to innovate and
the new economic paradigm.” For example, the company launched
develop new products that respond to market needs, as well as
the IT Professional Liability and Cyber Risk Insurance in 2019, which
strengthen its territorial expansion in Europe, which it began last
Rusu says is now one of the company’s best-selling products and it
year. “The watchword in 2022 will be consolidation, at both the
is expected to continue growing in the coming years. “The insur-
product portfolio and the team level. For us, the challenge will be to
ance market is increasingly dynamic, and we work to identify new
find new markets and new areas where we can come up with new
needs that arise, create the right products for these needs, present
products to offset any losses we may incur from bankruptcies or
them to our partners in Romania or in London, and thus often come
budget cuts in areas we’re currently covering. Innovation will there-
up with first-time of-
fore be extremely
fers for companies in
important in the com-
Romania and Europe,”
ing period, as it will
he explains.
help us find products
In 2021, Leader
that respond to new
Team Broker created
trends and changes on
a product dedicated
the market and help
to Amazon sellers,
us further develop
following the global
and strengthen our
retailer’s massive
business.”
www.business-review.eu Business Review | March 2022
COVER STORY 13
Committed to sustainable development Rombat CEO Alin Ioanes managed to keep the company on a market leading position last year while taking major steps to transform the company’s team and vision. And plans for this year are equally bold: Rombat aims to make further investments to expand its production capacity, reduce its carbon footprint, and launch products and solutions for customers looking for green energy production facilities.
2
By Anda Sebesi
021 was an excellent year for
the prices of lead and polypropylene.
Rombat, as reflected by two key
This global phenomenon has shown us
figures that hit record highs,
that besides its benefits, globalization
namely the number of new battery
can also have shortfalls, and companies
sales as well as the amount of lead
worldwide have been striving to iden-
recovered and reintroduced into the
tify sources of key materials nearby, in
manufacturing process.
order to reduce transportation costs and delivery times,” Ioanes explains.
“We sold 2.65 million car batter-
Ioanes expects the next few years
ies, 15 percent more than we had sold in the previous year. At the same
to be challenging, too. “The watch-
time, through our recycling facility at
words of the future will be innovation,
Copsa Mica, we recovered about 13,000
digitalization, and automation, all of
tonnes of lead from used batteries and
which are extremely important in the new economic context and will help us
brought them back into the production process,” Ioanes says. Additionally, Rombat was able to strengthen its position as market leader, which it has held for 25 years. Ioanes says that last year was full of challenges for him as CEO,
remain competitive and strengthen our position as market leader.” In 2022, the company aims to make further investments to expand its production capacity, reduce its carbon footprint, and launch
from several points of view, including consolidating Rombat’s posi-
products and solutions for customers looking for green energy
tion on the market in a complicated economic context and leading
production facilities. “We want to add Li-ion batteries to our product
the transformation of the team and the changes in the company’s vi-
range, for customers developing photovoltaic parks or for users who
sion. The pandemic also remained an important topic at Rombat last
are interested in installing green energy production facilities within
year, as it involved the redesign of some operational flows to ensure
their households.”
health and safety and business continuity. “This crisis has shown
According to the Rombat CEO, the automotive sector is a healthy
us that nothing is permanent and that everything might change
competitive environment with very strict conditions and rigorous
overnight, even though changes may not necessarily be negative.
performance standards. This means that only serious companies can
It was the best incentive for us to think outside the box and make
succeed on the market, by carefully managing multiple variables:
quick decisions.”
operations, costs, quality, and business plans. “The inflationary
In economic terms, the shortage of raw materials and the rising
spiral will continue this year, while the geo-political context will
energy prices were
also influence the
also among the major
economy. We’re
issues of 2021. “For
going to see further
a big consumer of
changes in consumer
energy like us, the ex-
behaviour, and many
plosive rise of energy
business in the in-
prices had a major
dustry will reposition
impact. The commod-
themselves as a
ity crisis has also led to
result,” Ioanes pre-
significant increases in
dicts.
www.business-review.eu Business Review | March 2022
14 FDI
Three new FDI trends that will influence Romania in 2022 Greenfield foreign direct investments (FDI) will remain low, business services investments will flourish, and new projects could arise in the context of covid shortages and the National Recovery and Resilience Plan. These are the most important foreign direct investment trends Romania should keep an eye on this year. Investor confidence in the industry and global value chains remains low
By Claudiu Vrinceanu
GREENFIELD PROJECTS STAGNATING
to the United Nations Conference on Trade
over 700 employees. The centre will be a hub
Romania’s Greenfield FDI will maintain a
and Development's study (UNCTAD), only
for highly skilled workforce, industry best
low level, despite the fact that these crucial
the IT and communications sector has fully
practices, software development, and collab-
investments are expected to grow by approxi-
rebounded.
oration opportunities for the Dutch group's
mately 6 percent globally this year following
Also, investor confidence in the industry
Cybersecurity, IT, and Finance functions.
a bounce-back to pre-shock levels in 2021,
and global value chains remains low. The
according to GlobalData's FDI forecasting
number of greenfield investment project an-
REBOUND FOR SEMICONDUCTORS
model, analysed by Investment Monitor. In
nouncements saw very little change in 2021
The shortage that occurred during the
recent years, Romania has failed to attract
(-1 percent in number, +7 percent in value),
covid-19 pandemic highlighted our reliance
new greenfield investments in crucial areas
according to the UNCTAD’s Investment
on semiconductors. As economies reopen,
such as the food industry. However, special-
Trends Monitor. The number of new projects
the need for chips will grow significantly,
ists and officials are expecting a new invest-
in global value chains (GVCs)—including
with many semiconductor manufacturers
ment in the automotive sector, which already
intensive industries such as electronics—de-
outlining major new investments. In 2021,
has the highest number of greenfield projects.
clined further.
the global semiconductor market rose by
Local authorities say that a new automaker is
10.9 percent to USD 488 billion, according to
negotiating with Romanian officials to open
COMEBACK FOR BUSINESS SERVICES
World Semiconductor Trade Statistics cited
a factory in Cluj-Napoca. The investment will
Foreign direct investment in knowledge-
by FDI Intelligence. The microchip crisis
begin with a few million euros, and it will
intensive business services could continue to
has severely affected the auto industry this
continue for a year or two if the negotiations
rise in Romania, as the sector experienced sig-
year, forcing several manufacturers, includ-
go well. The manufacturer’s plans include
nificant growth at the beginning of the year.
ing Groupe Renault and Scania, to interrupt
renting out an entire 150-hectare industrial
Bucharest is becoming increasingly exciting,
production.
park to support its investments.
attracting investments in new service centres.
Recent reports show that infrastructure
The Romanian government currently has
An example of this is Ford Europe’s an-
a microelectronics project in the works. The
financing is up as a result of recovery stimulus
nouncement of a new service centre opening
country has a history in this field, but lately,
packages, but greenfield investment activ-
in Bucharest as the company’s latest invest-
we have been integrating products made
ity remains weak across industrial sectors
ment in Romania, following those made at
abroad and exporting the output. Romania
globally. Greenfield investment remainded
its Craiova plant. Similarly, Booking.com has
could become a strategic semiconductor sup-
30 percent below pre-pandemic levels, on
leased a new headquarters in Bucharest to set
plier in the EU using funds from the National
average, across industrial sectors. According
up a regional service centre that will employ
Recovery and Resilience Plan (PNRR).
www.business-review.eu Business Review | March 2022
BUSINESS COVER STRATEGY STORY 15 14
Internationalisation opportunities for Romanian companies in 2022 Romanian companies are starting to see export as a growth strategy, with some businesses even planning production facilities abroad or cross-border acquisitions. There is no single benchmark of success, but the design of regional enterprises also depends on state support and private or public educational programmes. A mix of new export programmes, revived state schemes, and educational ventures are available for Romanian entrepreneurs who are looking to go international this year. Romanian businesses need practical training for internationalisation
By Claudiu Vrinceanu NEW PROGRAMMES
from the Export Council Working Group can
abroad or looking to expand their interna-
The main objective of Romania’s export
now join the Export Promotion Programme
tional presence. For example, the ScaleOut
strategy must be to level out the country’s
(EPP) and the Internationalisation Pro-
accelerator provides support, mentoring, ex-
trade balance. While the government has the
gramme.
pertise, and networking access for Romanian
leverage it needs to enhance and increase ex-
Romanian companies will be able to
companies to internationalise on a specific
ports of domestic capital, programmes aimed
access de minimis state aid totalling ap-
target market. The accelerator works with
at supporting exports among companies with
proximately EUR 3 million to attend fairs and
both tech and non-tech companies aiming to
domestic capital are limited.
exhibitions abroad or participate in online
develop in a new country through an educa-
events for a fee in order to pursue interna-
tional curriculum.
A new promising scheme is the Innovation programme aiming to support new inventions as well as the export activities
tionalisation. Companies selected for funding will
Romanian businesses need practical training for internationalisation. For example,
of SMEs operating in non-polluting trade
receive a lump sum to cover part of the costs
entrepreneurs want to understand how to
and services with a turnover below EUR 1
of participating—individually or as part of a
choose their target export markets, evaluate
million. The scheme is designed to finance
national mission—in fairs and exhibitions in
the needs of those markets, and get up to
activities that stimulate Romanian exports or
EU countries or outside the European Union.
speed with the legislative requirements of
support international transactions and local
Eligible expenses will include companies’
the targeted countries.
companies’ investments abroad. For 2022,
event booths and participation fees for online
the programme has a maximum ceiling of
or offline events.
Another initiative that is available for exporters in the business environment is the Export Passport. The project's total budget of
guarantees of RON 1 billion, a budget that tar-
EDUCATIONAL VENTURES FOR FUTURE EXPORTERS
one million euros allows 400 employees in
the four new guarantee programmes recently launched in priority areas for the Romanian
Successful international expansion repre-
export activities.
economy, consisting of state aid schemes
sents validation for local entrepreneurial
providing guarantees and grants for part of
companies. Many businesses that have
Guide,” which will create the prerequisites
the loans contracted by recipients.
expanded globally have taken part in other
for increased competitiveness through me-
gets more than 1,800 companies. It is one of
SMEs to improve skills that are relevant for This project also provides the “Exporter's
countries’ internationalisation programmes.
dium and long-term innovation. This guide
RESTORED GOVERNMENT SCHEMES
In Romania, the number of similar cases is
describes the optimal path for an enterprise
Export promotion and internationalisation
small.
to follow in its export activities and helps
programmes have finally been revived after a year of being frozen. As a result, members
Accelerators of this type are dedicated to companies that are already doing business
them train current and future staff to organise export activities.
www.business-review.eu Business Review | March 2022
16 STARTUP
Cluj tech startup hires 70 software engineers in just over a year Three entrepreneurs from Cluj founded tech startup HEITS digital, which in a little over a year has managed to attract a team of 70 passionate engineers who are now working on software development and machine learning projects for clients in the US. BR sat down with the three co-founders—Sorin Buiga, Andrei Dumitrescu, and Marius Baghiu—to hear their story. By Anda Sebesi years later, even though most of our projects are in the product development area, we have also managed to implement machine learning
How was your idea born and how did you think you would make a difference on a very crowded market?
How much market research did you do before you embarked on this journey?
projects for some of our clients.
SB: Shortly after we left our previous jobs,
grow our team, so we started to talk to more
Sorin Buiga (SB): The idea first came much
Marius and I travelled to the US. We wanted
and more specialists. We explained how we
earlier, while the three of us were all working
to get to know the market and the clients and
wanted to do things here at HEITS and they
at one of the biggest outsourcing companies
figure out what we really wanted to do. We
accepted the challenge and joined our team.
in Cluj. It all started from the internal need
had meetings with several technology-driven
That’s how we’ve managed to build a team of
to allocate more seniors on certain high-end
companies and investment funds, and most
70 engineers in just a little over a year.
projects. My proposal was to create an inter-
of them were talking about machine learning.
nal excellency centre that would gather the
After we got back home, we decided to invest
best talent for the most advanced projects,
in creating a consulting startup that would
What are your plans and objectives for 2022?
but the context was not favourable at that
focus on high-end product engineering and AI
MB: For 2022 we are developing several
time, because the company was just about to
solutions.
internal initiatives around AI and machine
be acquired by another market player. Marius Baghiu (MB): We started to feel that
MB: We quickly realised that we needed to
learning. We want to provide the team with the necessary tools and equipment to help
we no longer liked what we were doing and
How did you manage to attract projects and talent?
that it wasn’t what we were best at.
SB: We didn’t think for one second that we
SB: Keeping the unbelievable attrition rate we
We were distancing ourselves from the team
wouldn’t be able to attract the engineers we
have had so far, growing our customer port-
as new management layers were appearing.
needed. The real challenge for us was to find
folio by 30% and creating Machine Learning
The way things were going just didn’t feel
customers that would fit our profile, namely
working streams within each company we are
right.
technology companies or late-stage startups
working with.
Andrei Dumitrescu (AD): We immediately
whose products were already established on
AD: Personally, I think the most important
started talking about the possibility of doing
the market. We quickly realised that it would
thing that we all want is to continue our story
something together. We thought we couldn’t
be quite difficult to sign a machine learn-
with the same momentum we’ve had since
be the only ones who felt the need to work
ing project up-front. Around that time, we
we started out and to succeed in attracting
and live differently. Soon after that, I decided
started our first collaborations with Taycor
more people who are passionate about tech-
to leave the company.
and Ecrée, on product development. Two
nology to our team.
them express themselves.
www.business-review.eu Business Review | March 2022
18 HOTEL MARKET
Joining forces on the local hotel market Claudia Stan, Cluster Director of Sales at Apex Alliance Hotel Management, sat down with Business Review to discuss the added value the Sales and Marketing Cluster brings to corporate clients on the local hospitality market. By Anda Sebesi some examples from the hotel chains you represent. We have 5 hotels in our portfolio: Moxy Bucharest Old Town, Courtyard by Marriott Bucharest Floreasca, Hilton Garden Inn Bucharest Old Town, Hilton Garden Inn Bucharest Airport and Marmorosch Bucharest. In our industry, it is no longer enough to have a good or very good product. You needed to find something else that can make a difference. We all know that a consumer’s buying
Where did the idea for a Sales and Marketing Cluster come from and what was the motivation behind it?
What criteria do you use to customise the solutions offered to your customers?
decision is the result of a mix of rational
We present solutions only after considering
thinking and emotions, therefore we’ve
For the last two years, the hospitality indus-
the customer will perceive them as meeting
worked to identify emotional links between
try had to redefine itself in the most signifi-
their objectives and we involve customers
our guests and our products. Moxy Bucharest
cant way. The idea for the Sales and Market-
in determining their needs and exploring
Old Town is a fun, vibrant, and stylish hotel
ing Cluster was born from the need to work
options. Additionally, take into account the
designed for “always-on” guests who tend to
more smartly and align operations across
profile and target market of each property,
get excited by new experiences—and the price
all our properties, and its main purpose is
making sure that we pair customers with the
is just a pleasant surprise.
optimisation.
most appropriate experience for them.
At Courtyard, we are passionate about better serving the needs of all travellers. It’s what inspired us to create the first hotel designed
puts the customer at the centre of the buying
Is the solution being used on international markets? If so, what have been its results among the hotel chains and among the clients of targeted companies?
process. This attitude entails more than just
Yes, both Hilton and Marriott have global
their trip. Whether you are in transit between
being concerned about a customer’s needs.
sales offices that sell for different properties,
flights or in for a longer trip, Hilton Garden
The most successful Sales and Marketing
in different countries. The implementation of
Inn Bucharest Airport is your best choice.
Managers are aware of how they like to buy,
the Cluster had a positive impact on our mar-
which enables them to focus on the cus-
ket. Customers tend to congratulate us for
Old Town were restored and transformed into
tomer’s perspective and journey. As a Cluster,
the initiative, as they now have a single point
two unique hotels: Hilton Garden Inn Bucha-
we know that getting information from the
of contact for all their requests, whether
rest Old Town—where you will find a bright
customer and giving them a choice is just as
we’re talking about individual reservations,
and inviting atmosphere with warm, sunny
important as giving them information. The
groups or events.
service—and The Marmorosch, Autograph
What is the added value brought by the Cluster? The Apex Alliance Sales & Marketing team
relate to the customer’s needs, budgets, and areas of interest.
why the Courtyard experience today empowers all of our guests, no matter the purpose of
Two abandoned historic buildings in the
Collection by Marriott, with an interior design
Apex Alliance Cluster of Sales & Marketing teams makes recommendations that directly
specifically for business travellers, and it’s
You mentioned that you emphasise the story behind each hotel when offering solutions to customers. Please give us
featuring rich and authentic Art Deco details that give you a taste of Bucharest’s high life during the Belle Epoque.
www.business-review.eu Business Review | March 2022
20 ENTREPRENEURSHIP
Tech sector may be Romania’s biggest economic strength Investments in startups by TechAngels members more than doubled year-on-year to EUR 9 million in 2021, and a similar performance is expected this year. Malin-Iulian Stefanescu, the president of Tech Angels, talked to BR about the steady growth of angel investments in Romania and the ambition of seeing a Romanian startup grow into a unicorn without leaving the country. By Ovidiu Posirca collaboration through syndicated funds. When it comes to our involvement in startup development, the common understanding is that we invest resources: money, time, knowledge, and network if the startup idea has already been turned into a Minimum Viable Product (MVP). Usually, angel investors make a commitment when they see a product’s features and potential, when they identify the demand or market for that product, and when they observe the team’s dedication to the product. Over the past 2 years, we have heard a lot of pitches and screened over 250 startups annually, advising and guiding their teams as much as we could. Additionally, we are now part of the two pan-European business angels associations—Business Angels Europe (BAE) and European Business Angels Network (EBAN)—and thus directly plugged into the European way of doing angel investing.
How many members does TechAngels have and what are their profiles in terms of funding power and entrepreneurial background? What is TechAngels’ investment strategy for Romania’s startup industry and how do you approach the angel funding market? TechAngels brings together a great deal of strategies from individual business angels. It
The invested volume was 60 percent
Our group has 118 members as of January,
higher than in pre-pandemic year 2019, and
57 percent more than we had the begin-
double compared to 2020. For 2022, I expect
ning of 2021. Our members have various
our members’ interest to reach a similar level
backgrounds: founders who have exited
to last year’s.
businesses, entrepreneurs managing their
Having individual investment strategies
own companies (not just in IT&C), as well
is the largest group of angel investors in Ro-
and decisions gives startups a chance to find
as professionals from various fields, from
mania, having had a consolidated contribu-
their best investors because founders who
general managers to top executives in sales,
tion of EUR 9 million to the startup ecosys-
pitch don’t do it in front of a monolith; they
financial, logistics, marketing, and other cor-
tem development last year, as well as some
meet 118 possible investors and mentors.
porate functions. This mix of backgrounds
1,800+ hours of mentorship and coaching.
Startups also can benefit from the group's
also represents an advantage for both the
www.business-review.eu Business Review | March 2022 May 2016
ENTREPRENEURSHIP COVER STORY 14 21
group and the startups, as it offers multiple
more startups are opening up to interna-
they were in talks with various investors, be
perspectives and visions and a good under-
tional markets, scaling up, gaining traction,
it angels, crowdfunding platforms or venture
standing of different business verticals.
and thus triggering even more interest from
funds, and we can’t say if or when these deals
investors of all
will be closed. What we can see is an larger
experience are look-
kinds. Many of the
base of startups and more investment oppor-
ing to invest larger
financing rounds of
tunities. We can thus be cautiously optimistic
tickets (sometimes
the past six months
and expect a further growth of investment
over USD 500,000),
were raised with
amounts.
while others are less
the aim of helping
experienced and
the startup reach
for startups to test their products, but also
willing to learn by
new international
small enough that they have to think globally
getting involved in
markets—this trend
and expand once initial assumptions are
syndicated deals
has been very clear.
proven right.
with tickets ranging
Then, there is the
from USD 5,000 to
increased availabil-
10,000.
ity of accelerators
Those with more
The Romanian economy is large enough
and programmes
What are some tech niches where Romanian startups could gain a competitive edge?
What were last year’s most significant funding rounds for TechAngels and what’s the outlook for this year?
that can boost the
I think anything is possible in this space, both
development of
technology-wise—in areas like cybersecu-
startups in very
rity, enterprise integration, artificial intel-
early stages, feed-
ligence—or business-wise, with technology
ing the flow of new
enabling major breakthroughs. There are lots
projects. There are
of interesting projects that need to develop
also more resources
and gain international traction, and they are
Last year, group
available, new
everywhere: in fintech (like FintechOS for
members invested in
funds being created,
example, which is on a rapid growth path), in
69 startups, of which
international inves-
health (like DotLumen using its tech to help
14 received follow-
tors growing more
blind people “see”), in marketing/sales (like
up rounds. All these
interested in locally
Tokinomo, a recent project in which TechAn-
investments were
generated projects,
gels got involved, bringing a new idea for in-
probably very signif-
and even corpora-
store marketing) or even in space transporta-
icant for the companies. In the early stages,
tions looking to offer support to certain
tion of nano satellites (such as the 2Space
the support of angel investors is usually vital
niches. The ecosystem is obviously growing,
startup). These are just some examples of
for development, and even for survival in
startups and investors alike are developing;
startups who have been coming up with new
delicate development phases. The portfolio
in my opinion, the tech ecosystem may be
and bold ideas.
of startups I mentioned is compiled based on
the best sector of the Romanian economy at
the responses of each of our members. They
the moment.
in syndication or through various platforms
resources (such as a larger and more active
What is your outlook on Romanian startup valuations and when will another unicorn with local origins emerge?
and partners. We sometimes join forces with
number of angel investors), additional large
New unicorns will be coming soon (good
other players in the ecosystem because work-
VC funds or more accelerators. I would love
luck, Bitdefender!). A few Romanian found-
ing together can help us get the intended re-
to see a bigger entrepreneurial spirit and a
ers have already reached unicorn status (such
sults faster: startups get more financing and
better global view.
as the founder of Branch, for example). And I
may choose to invest directly, by themselves,
The ecosystem could benefit from more
resources, while investors get a diminished risk. In follow-up rounds especially, we often
am sure that others will join the club. Startup valuations tend to stay in line with
Could you estimate the total amount of funding that Romanian startups might attract this year?
what happens internationally: as champions
What are the strengths of Romania’s startup ecosystem and where would you like to see some improvement?
It would be difficult for me to estimate this
increase in valuation for early-stage startups
amount. For example, we saw EUR 7-8 mil-
as well. A real challenge for our ecosystem
lion raised in the first few weeks of the year,
would be to see a Romanian startup growing
The Romanian startup ecosystem is open,
so if it continues at this pace, the year’s total
into a unicorn without leaving the country.
willing to help, and in a steady process of
could be over EUR 90 million. At the same
But this requires trust, which is not easy to
growth on all its dimensions. First of all,
time, several startups have announced that
build with governments and lawmakers.
invest alongside VC Funds.
go higher and higher, we can see a slight
www.business-review.eu Business Review | March 2022
22 ENTREPRENEURSHIP
Romania’s OECD accession could change funding approach for local startups With Romania having initiated procedures to join the Organization for Economic Cooperation and Development (OECD), the local startup ecosystem could soon be approached by a wider range of investors, which would enhance the international visibility of the Romanian entrepreneurship community. By Ovidiu Posirca
The OECD has access to massive troves of economic information that can help startup founders get a grasp on the development picture of an economy
T
he Romanian startup industry has
has the potential to reach EUR 200 million,
been growing constantly for the
according to fund representatives who spoke
past three years, with total funding
to Business Review.
volumes more than tripling to around EUR
Against this backdrop, the OECD in Janu-
tion’s council following a complex review. Romania is already adhering to six of the eight essential standards for accession, according to PM Nicolae Ciuca. They cover
116 million in 2021, according to a How to Web
ary began to discuss accession with six candi-
several areas including corporate governance,
report. Authors added that the figure pointed
date countries, including Romania, Bulgaria,
taxation principles, and information ex-
out that the rise has been constant in recent
and Croatia. There is no deadline for the
change of economic data. The OECD said that
years.
completion of the accession processes and a
changes to the candidate countries’ legisla-
final decision will be made by the organisa-
tion, policy, and practices will be required
This year, total funding targeting startups
www.business-review.eu Business Review | March 2022 May 2016
ENTREPRENEURSHIP COVER STORY 14 23
to bring them in line with the organisations’
rope is coming from large international finan-
startups and their development because it’s
standards.
cial institutions. In some cases, they allocate
still keeping investors away.
If Romania were to obtain OECD member-
amounts based on specific geographies and,
“We expect the OECD accession process to
ship, it would join other member countries in
as soon as a country reaches a certain level
normalise all of these issues, shed much more
Central and Eastern Europe (CEE) such as Po-
of economic development, they move out to
light on the Romanian startup ecosystem, and
land, Hungary, and the Czech Republic. The
target less developed economies.
provide investors with the confidence that
organisation has 38 member states and works with over 100 countries on economic policy. For its part, the OECD has pointed out that Romania lags behind most member countries
“And this is true not only for risk capital
innovative startup founders in Romania now
investments in growth startups, but also for
have a higher chance to succeed,” Almasi tells
other economic support programmes that
BR, suggesting that startups could get more
could move their targets away from Roma-
funding and visibility once Romania joins the economic organisation.
in ensuring access to
Through its global
high quality education, healthcare, housing, and
approach, the OECD
transport. The coun-
has access to massive
try’s overall economic
troves of economic
productivity is still at
information that can
around two-thirds of the
help startup found-
OECD average.
ers get a grasp on the development picture of
“Though it might be expected that joining
an economy or a certain
such a renowned organ-
industry. “The OECD’s strong
isation would have an immediate impact on the startup ecosystem, I
nia. In reality, our country still needs a lot of
infrastructure can provide a great way to ap-
believe that international VCs & startup inves-
this type of support coming in, whether or
proach high-potential markets, but the results
tors will retain the same levels of reluctancy
not it becomes an OECD member,” Ghenea
will most likely be visible a few years down
towards Romanian startups with unproved
tells BR. A new financing opportunity comes
the road,” says the CEO of Roca X.
track records or those that are just local suc-
from the new EU-backed Plan for Recovery
cess stories. The responsibility for supporting
and Resilience (PNRR), with a total budget of
ROMANIA MAINTAINS GROWTH MODE
development in the early
After a significant eco-
stages, before interna-
nomic dip in 2020 due
tionalisation, will remain
to pandemic lockdowns
with local players,” says
hitting businesses,
Alexandru Bogdan, the
Romania’s GDP bounced
CEO of startup invest-
back in 2021, essentially
ment platform Roca X.
recovering all the losses
“Romania’s poten-
from the previous year.
tial membership in the
The OECD forecasts that
OECD will not match
Romania will continue
the impact of success
to grow by 4.5 percent
stories such as UiPath or Elrond,” he adds.
through to 2023, while EUR 30 billion. Around EUR 400 million out
the inflation rate is set to drop to 3.6 percent
of the PNRR funds will be used to create 20
by the end of next year.
POTENTIAL SHIFTS IN FUNDING STRATEGIES
equity funds with support from the European Investment Fund. The funds will focus on
needs to enact reforms to cut down its budget
Marius Ghenea, managing partner at Catalyst
riskier early-stage firms and target larger play-
deficit, which is estimated to reach 5.3 per-
Romania, says that Romania’s OECD acces-
ers in the infrastructure and energy fields.
cent next year, down from 8 percent in 2021.
sion would be a major achievement for the
Elsewhere, Romania’s potential OECD ac-
The organisation notes that Romania
“An improved business environment and
entire country, not just for a single ecosystem
cession is seen as a guarantee of the develop-
a strong rule of law environment helping to
or industry.
ment of entrepreneurial firms.
attract investment will be key to boosting
However, he warns that this move could
Bogdan Alamasi, cofounder and CEO of
growth and income levels further and get
pose some challenges because a lot of the
startup crowdfunding platform Ronin, says
Romania back onto its path of economic con-
money invested in startups and early-stage
that an unpredictable and confusing busi-
vergence with OECD countries,” the organisa-
businesses in less developed regions of Eu-
ness environment cannot properly support
tion said in a statement.
www.business-review.eu Business Review | March 2022
24 MARKETING
E-commerce increasingly driven by experience and entertainment-led influence marketing The year that has just begun heralds significant challenges for the brand-consumer relationship, in the context of major changes in the consumer’s mindset and behaviour. As pointed out by Ogilvy’s 2022 Influence Trends report, for the third year in a row since the outbreak of the most powerful contemporary global event—the pandemic—, the communications industry and its tools are in need for reinvention if they want to be relevant for the new reality. By Romanita Oprea realm, influence marketing provided them with a consistent solution for conversation. We all spent considerably more time online than we used to before covid, and this hasn't completely reversed despite many people returning to work recently. As a result, businesses have had to upgrade themselves to get people’s attention in the most genuine way. “They’ve also had to deal with another reality, a more profound one: the need for authenticity, real time alignment to new mindsets and cultural aspects (including diversity and inclusion), and, of course, new consumption habits. So, we are now talking about an emerging influence marketing in terms of social media-tainment or about the Ana Sisu, Ogilvy Romania
I
metaverse. Storytelling has evolved too, with emerging formats that are tailored for social media feeds,” Ana Sisu adds. As movie the-
nfluencer marketing has been one of the
point of experimentation, with new commu-
atres struggle and TV viewership declines, the
fastest growing areas for several years
nication channels, new topics, and implicitly,
entertainment industry is rethinking the ways
now, with an increasingly important role
new opportunities for brands. We are looking
in which it reaches and serves audiences.
in the communications mix. Today, in the
for the concepts with the greatest potential
new context that is taking shape, with the
to create a connection and a conversation
mative trends for the industry and a rethink-
emergence of the metaverse, brands need to
with the public and to ensure ROI for clients.
ing of influencing, from being an insignificant
truly understand the mechanisms of various
Our interest in innovation and exploration
“add-on” to communication campaigns to
platforms, the behaviour and culture of users,
of new technologies have already allowed us
being integrated into all phases of a campaign
and the available conversational tools.
to pilot creative hacks on different platforms
in a unitary manner. Influencer briefs need
together with local influencers, and to move
to be aligned with the broader strategy of a
in itself, as it’s based on experimentation with
the experiences that were suspended during
campaign and the content must be set up in
the goal of long-term results and efficiency.
the pandemic into the digital space,” says
a way that’s trackable, so that the return on
We did B2B campaigns with influencers be-
Ana Sisu, Head of PR & Influence at Ogilvy
investment can be assessed against true busi-
fore it became a trend, we’ve had campaigns
Romania.
ness results.
their own briefs as co-creators of content, and
INFLUENCING RE-EXAMINED
trends discovered by Ogilvy is that experience
we tried out using pets as influencers even
The need to stay in contact with audiences
is the new e-commerce. Creating a memora-
back when there was still no significant appe-
has been paramount for brands, and since
ble consumer experience has become essen-
tite for such twists. Today, we are again at the
more things were happening in the online
tial in e-commerce, and influencer marketing
“At Ogilvy, we see influencing as a science
In this context, Ogilvy talks about transfor-
In this context, one of the most important
where we challenged influencers to write
www.business-review.eu March 2022 Business Review | May 2016
COVER MARKETING STORY 25 14
is largely based on entertainment. Consumers
they can’t go wrong.” At the same time, some
dominate our daily lives. These new aspects
are more likely to act when brands provide an
influencers have been creating content for
of life have encouraged a migration to digital
experience that goes beyond a static product
real productions and scripts, which Zidaru
and social to fulfil our every need, from gro-
post on social media.
finds amazing. “It’s no longer enough to
cery shopping to food delivery, meet-ups, and
take a picture with the product; you have to
more. And with most of us interacting with
aware of the fact that experience is a key
integrate it into a relevant, entertaining story.
people and brands virtually comes a greater
factor in all forms of retail, and not just in
Co-creating with influencers is my favourite
need to make these connections more mean-
e-commerce. After years of highly segmented
thing. The overcrowding on social platforms
ingful and fill the void of human-less contact.
customer engagement, without a unifying
have led influencers to realise that they’ve
And this is where the experience a brand can
experience that can lead to better long-term
got to do things differently, so they’ve started
offer comes in. You don’t just buy a product or
relationships, today we are re-addressing the
creating content for real. Of course, TikTok’s
service; you buy an experience that delights
marketing funnel as a whole, with each layer
rise might have also forced them
connecting to the other, for a more seamless
to break some boundaries. All of
interaction. “And by doing that, we are get-
these have determined the matu-
ting back to addressing real people, not just
rity and constant growth of this
looking at data points in a conversion matrix.
segment,” Zidaru adds.
According to Ana Sisu, we’ve always been
People need to be seduced into a product and
Her views are also supported
today, more than ever, the seduction process
by the latest ProductLead study,
must be a valuable experience. Entertain-
which shows that in line with
ment is a key factor in creating this relatable
the need for more interactive
experience and the explosion of platforms
entertainment and storytell-
such as TikTok stand as living proof.”
ing, influencer marketing will encourage a shift from text and
REAL ENGAGEMENT AND EXPERIENCES
images to video & audio content.
Furthermore, Ana Sisu notes that the most
With the increasing popularity of
successful influencers understood this aspect
TikTok, YouTube performances,
and started to cultivate their communities
and Instagram Reels, we're going
through genuine engagement, ensuring a
to be seeing more video content
transfer of “feeling” between their follow-
than ever before. Even Facebook
ers and the brands, thus humanising brand
has been focusing on sharing
interactions. For example, throughout the
videos. Authenticity and integrity
pandemic, content creators took on the mis-
for both influencers and brands
sion of spreading important information and
is also something that marketers
fighting against the huge wave of fake news,
need to watch out for. Brands will
alongside posts promoting various products.
be seeking partnerships with influencers who
you. The pandemic hasn’t just proven how
And consumers are more interested in explor-
share the same values and sponsor genuine
important connections are in today’s world,
ing a brand or product that is being promoted
content.
but also that personalised experiences can
by a genuinfluencer with a real opinion rather
Why are people are so drawn to experi-
than an aspirational influencer with a product
ences? Sisu says that experience generates
solely satisfied with an excellent product
in their hand.
an emotional connection as opposed to just
offering; they expect brands to offer them a
a functional and cost-benefit one. Experi-
whole experience, ideally one that’s different
director and creative director at Tribal World-
ence appeals to what makes us human, to our
from those offered by competitors and can
wide Romania, says that based on the results
natural need to feel and interact. Today, when
create an impact,” the Ogilvy representative
of some of her team’s recent campaigns with
it comes to purchasing products and services,
concludes.
a great pool of influencers, she can state that
the digital world’s evolving influence is unri-
they definitely deliver. “And if we’re talking
valled, and it appeals to experience to obtain
merce market is expected to reach nearly
about entertainment, the numbers are even
the best results.
USD 4.9 trillion in sales in 2021. That means
Elsewhere, Simina Zidaru, managing
higher. Storytelling remains king in our in-
“The pandemic didn’t start the great digi-
make a huge difference. People are no longer
“From what I’ve read, the global e-com-
it’s getting harder and harder to get people’s
dustry, so it all comes down to this basic rule
tal migration or the rise of e-commerce, but it
attention. And to be completely honest, it’s
that applies to us all, including influencers.
has certainly helped accelerate them. Social
even harder to find a real, unique differentia-
If they create great quality entertainment,
distancing, quarantine, and the new normal
tion out there. Services and products, are ex-
people will watch. If they put themselves out
are all terms that were rather unknown in
tremely similar. I guess experience is the only
there, are honest, and share real emotions,
the conversation prior to 2020, but they now
thing left that could make that difference.
www.business-review.eu Business Review | March 2022
26 TRAVEL
Microadventures: the greatest travel trend of 2022 Travellers are finding unique ways to engage with nature locally for smaller, shorter excursions, and some studies indicate that these microadventures are as impactful on mental and emotional health as traditional getaways. By Romanita Oprea COO Nick Madrick wants the destination’s branded escapades to “get people outside in the natural environment to reconnect with nature and experience the local community,” as he told Travel and Leisure. Therefore, according to the Wunderman Thompsons study, when extreme adventure and traditional travel aren’t possible, microadventures are proving to be popular, satisfying swaps for outdoor escapes. Brands are thus seeking ways to introduce this travel habit to consumers looking to satisfy their wanderlust.
A TREND THAT’S HERE TO STAY The microadventures trend doesn’t sound that new to some, as it was predicted as far back as 2017, in trend reports from the Association of British Travel Agents (ABTA) and travel industry website Skift, both listAnca Muraru, DigitalNomadsRomania.com and OnToRemote.com
A
study by the Greater Good Science Centre at the University of California,
ing microadventures as trends to watch, as tours and activities become the mainstay of many travellers’ holidays. The term “mi-
and affordable travel options. In the United Kingdom, a one-night ad-
croadventures” was introduced by British adventurer and author Alastair Humphreys,
venture company offers mini-stays in remote
who described them as “small and achiev-
fornia, San Francisco found that participants
locations. The short trips designed by Much
able, for normal people with real lives.” The
who embarked on 15-minute walks each week
Better Adventures are for people with busy
main point is that adventures don’t have to be
“reported greater joy” and even smiled more
lifestyles and a thirst for adventure. Hotel and
massive logistical and financial undertakings.
than those in the control group. The results,
resort chain Best Western is promoting micro-
Microadventures can happen on a weeknight
which are part of a larger study, indicate that
adventures in the United Kingdom, advertis-
and still give you all the benefits of shaking
taking a long trip isn’t necessary to inspire
ing unique getaways that last a maximum of
up your routine, getting fresh air, and moving
awe: short, simple excursions still have a
48 hours.
your body. “I didn’t want microadventures to
Berkeley, and the University of Cali-
positive effect on our mental health.
Where there is adventure, there is gear
be a diluted form of adventure. I wanted them
for explorers. US clothing brand M22 has
to be concentrated, distilled, like a shot of
100 Trends for 2022, French travel brand
expanded its lifestyle range to develop
espresso,” Humphreys said.
Chilowé offers microadventures exclusively,
experiences for adventurous locals near Lake
encouraging travellers to travel locally and in
Michigan. The brand’s microadventures are
that as hectic lives take hold, busy holiday-
small groups. The company’s concept empha-
curated to help travellers escape everyday life
makers are choosing to factor in shorter but
sises the travel possibilities that are close to
and personalised to fit any mood. From surf-
still-exciting experiences into their holidays
home for French natives, offering sustainable
ing and kayaking to hiking and nature walks,
or take short breaks when a longer trip eludes
Listed among Wunderman Thompsons’
According to adventure.com, it appears
www.business-review.eu Business Review | March 2022
28 TRAVEL
BEST PLACES TO VISIT FOR A MICROADVENTURE IN 2022 “Microadventures should be pretty close to your home, so of course it depends on where you live. For someone who’s based in Bucharest, I would suggest Tara Fagarasului, the lesser known Brancoveanu-style residences in south Romania or Veliko Tarnovo in Bulgaria” – Cezar Dumitru, aka Imperator Travel “The best place to visit is the one you dream of. I think local tourism will continue to grow in 2022, and people will be more inclined to visit remote locations during the weekends. Depending on travel regulations and the availability of destinations, I guess emblematic European destinations will regain their popularity very soon. My feeling is that Nordic countries will be among the top destinations for microadventures this year, in addition to local tourism.” – Aurel Creanga, travel corporate lead & MICE Storyteller Associate at Best Business Travel Romania Aurel Creanga, Best Business Travel Romania
them. Whether it’s a high-altitude hike or a street food tour, people are looking to add a more active element to their travels.
“For 2022, I recommend city breaks in lesser-known European destinations. For example, Rijeka in Croatia or Wroclaw in Poland are both spectacular destinations worth discovering.” – Sorin Rusi, owner of Airlines Travel
The motivations behind this trend can be both economic and ethical (e.g., given the current climate situation, taking a plane for
tain times, people are often not very comfort-
due to various travel restrictions. The decline
quick hop around the world is often seen
able with taking long holidays. I've had many
hit 70 percent in 2020 and 50 percent in 2021.
in a negative light). “In Sweden, we've seen
cases in the last two years when tourists have
But in 2022, the drop will only be around
the development of flygskam, the shame
had to interrupt their trips and go back home
10 or 15 percent compared to 2019.” At the
associated with taking a plane trip. The other
because one of their family members got sick.
same time, Rusi noted that the pandemic has
important difference with micro-adventures
Many people now prefer to break a one-week
also led to changes in tourists’ behaviour.
is their timing. They can be described as
vacation into two shorter holidays, out of a
“They have become more careful with their
integrating tourism into daily life. The goal
desire for diversity and for more opportuni-
chosen destinations, they pay more attention
is to add leisure and vacation time into one's
ties to disconnect from their daily routines.
to travel insurance, and they choose more
daily schedule and thereby add a touch of
It is very handy to get in the car, train or on a
flexible packages. People prefer shorter trips
marvel to life. Micro-adventurers are people
plane and go on a weekend getaway to relax,”
because they want to travel several times a
who want to optimise their day by making the
says Aurel Creanga, travel corporate lead &
year. Some still choose stays and 5-7-10-day
most of what are generally very busy sched-
MICE Storyteller Associate at Best Business
tours, but many others opt for small getaways
ules. This approach aims to rid a schedule
Travel Romania. Moreover, he encourages
of two or three days,” the Airlines Travel
of downtime or uninteresting time slots and
people to make a habit out of leaving town at
representative adds.
instead fill them with significant activities,”
least once every two or three months, if not
said Helene Michel for Grenoble Ecole de
once a month, to reconnect with themselves
local industries that depend on incoming
Management. The desire to be high perform-
and with nature and have new experiences.
tourism were severely hit in 2020. The World
ing at all levels, including daily schedules, is
According to Sorin Rusi, the owner of
Tourism Association stated that the covid-19
a new trait of the emerging dominating class,
Airlines Travel, people have started to travel
pandemic in 2020 led to 1.1 billion fewer
known as the “aspirational class.”
Airlines, cruise companies, hotels, and
more in recent years. They tend to plan a big
international tourist arrivals—a way bigger
“On the one hand I would say that this
yearly vacation—circuit or stays—but also
figure than those associated with the 2003
phenomenon is due to the limited free time,
several city breaks, as travel is no longer
SARS epidemic (-2 million) or 2008 financial
intense work, and strained budgets. On the
considered a luxury, but a necessity. “The
crisis (-37 million). The industry saw a minor
other hand, I think that during these uncer-
pandemic has profoundly affected tourism
recovery in 2021 and it is expected to grow
www.business-review.eu Business Review | March 2022 May 2016
COVERTRAVEL STORY 29 14
be close to home. I realised that this would soon become a trend and that tourist behaviour was changing. Even though the total number of tourists has dropped in the last two years, prices have risen quite significantly. The industry is trying to recover from past losses and it is taking advantage of people's growing desire to travel. As a result, people have had to look for alternatives because the need of a holiday is a necessity, not a luxury, so many have turned to local tourism, discovering rural areas and microadventures,” Aurel Creanga notes. In turn, Cezar Dumitru, known as a blogger and influencer at Imperator Travel, believes that if the pandemic eases in 2022 as some experts predict, the industry’s recovery will happen over the next 1-2 years, with a sharp increase. “There are lots of people who haven’t been travelling recently, and they just can’t wait to hit the road. In Romania, we say ‘Pauzele lungi si dese, cheia marilor succese. Dar si pauzele scurte ne-au adus victorii multe.’ (‘long and frequent breaks are the key to success; but short breaks are also pretty awesome”). Travel is a way to relax and de-stress, and sometimes even a one-day trip can lift your mood and make you feel Sorin Dutoiu, YOLO Media & Travel for Senses
energised.” “In terms of the digital nomad community, I’ve seen a huge increase in the number of
significantly in 2022 (by 30-70 percent), and
past two years, 2022 is expected to be the year
people interested in adopting a lifestyle that
fully recover by 2024. In the past two years,
of crossing things off the bucket list for most
offers the flexibility to travel and work at the
despite restrictions, many people managed
tourists. “Now, with fewer or no restrictions
same time. Less than a decade ago, there
to find solutions and travel to their desired
in place, it is time for travellers to have their
were just a few dozen websites and groups
destinations as long as they were available.
best trips ever—no matter the budget. And to
dedicated to this topic. In the past few years,
“Before the pandemic, most tourists would
be totally sincere, we all need this. We have
that figure has increased exponentially, and
book their flights and accommodation online.
spent two years in anxiety, uncertainty, and
since the pandemic hit, I’ve seen people
Now, due to the uncertainty generated by the
frustration, and we all deserve to live our lives
who otherwise may have never thought of
ever-changing conditions regarding covid-19,
to the fullest and simply be happy,” the Travel
long-term travel looking into this alternative.
people have stated to approach travel agen-
for Senses managing partner adds.
At the same time, I’ve seen nomads who had
cies more in order to be guaranteed sup-
Aurel Creanga recalls talking to clients
been travelling for years deciding to slow
port for any inconvenience. The number of
of his who were impatient to go on holiday
down and rethink their travel habits based on
city breaks decreased, while family trips or
and requested information about Greece
their current lifestyles,” says Anca Muraru,
romantic vacations in the most exotic spots
and Bulgaria, which were among the first
founder of DigitalNomadsRomania.com and
(like the Maldives) saw an interesting growth.
countries that opened their borders during
OnToRemote.com. She adds that it seems
In my opinion, luxury tourism was the least
that summer. They all wanted to avoid planes
we are all expanding our perspectives and
affected by the pandemic,” explains Sorin
and drive their own car to their destination,
moving away from the conventional, towards
Dutoiu, managing partner at YOLO Media &
and they chose private villas in remote areas,
something that suits each of us individu-
Travel for Senses, who added that travellers
surrounded by nature, away from tour-
ally. Whether it is a nomadic lifestyle or the
with high incomes continued to spend their
ist hotspots. “Clients who weren’t looking
traditional yearly holiday, we are more keen
vacations in exotic destinations. While do-
to leave the country had similar requests:
to explore alternatives and mix them up in a
mestic travel saw significant growth over the
remote, nature-filled locations that would still
way that best matches our current needs.
www.business-review.eu Business Review | March 2022
30 RETAIL
Retail market striving to keep up with major shifts in consumer behaviour & expectations The growth of e-commerce will continue in 2022, following two years of boosted expansion, and customers will enjoy faster delivery and better services. At the same time, the Deposit Return System (DRS) is seen as Romania’s biggest and most important sustainability project of the past 30 years, and not just from an investment perspective. These were the key conclusions of Business Review’s re:Focus on E-commerce, Retail & Logistics event, which brought together leading retailers, omnichannel innovators, as well as major players in supply chains & logistics, to share valuable insights and best practices and discuss this year’s challenges and opportunities. By Anda Sebesi & Aurel Constantin Photo: Mihai Constantineanu
Panel 1: eCommerce and the Courier Industry
www.business-review.eu Business Review | March 2022 May 2016
COVER RETAIL STORY 31 14
PANEL 1: CHANGES IN CONSUMER BEHAVIOUR
Adrian Mihai, the CEO of Fan Courier, says
The pandemic-related restrictions on in-store
go up to EUR 10 million and that it results in
shopping generated rather drastic changes
a 30-minute reduction of the delivery time
in consumer behaviour. Buying clothes and
in that region. While that may not seem like
shoes online was not something most shop-
a significant improvement in delivery time,
pers were used to doing, but now they don’t
those minutes are very important for couri-
think twice about it. Efforts made by retailers
ers. Fan Courier alone delivers around 24,000
and delivery companies to ease the buy-
packages every day, and a package normally
ing process have also helped a lot. And the
goes through the hands of seven people
results of these measures came in 2021, when
before it reaches the customer.
companies like Answear doubled their sales
that the investment in a new warehouse can
As for payments, allowing the customer
compared to 2020, as we learned from Coun-
to pay by card on delivery has helped largely
try Manager Raluca Radu during the event.
eliminate cash from transactions. Roma-
What is clear is that customers who buy
nian customers may still be sceptical about
online want faster delivery, easier ways to
online transactions, meaning that they don’t
pay, and more ways to interact with shops.
want to pay before they see the product, but
Their desire to improve their quality of life
thanks to solutions like SoftPOS, they no lon-
forces retailers to provide better and better
ger need cash in those situations. Since the
services and expand the range of goods they
pandemic broke out, the change in customer
offer. eMAG did this by increasing the num-
behaviour has meant withdrawing less cash
ber of shops on its Marketplace, a segment
from ATMs and more often using online pay-
that has grown significantly in the last two
ment solutions. That’s why ATMs today also
years, now covering 60 percent of all eMAG
have other functions, such as receiving cash
sales. The benefits of the Marketplace go
from customers, paying credit installments
both ways: while customers have access to a
or paying bills.
wide range of products from various industries, sellers can easily open a sales channel and access a 4.5 million customer base. Stejara Pircan, Senior VP at eMAG, an-
PANEL 2: RETAIL PARKS AND REGIONAL MALLS There is still plenty of room for growth on the
nounced that the company was investing
e-commerce market. While online shops are
in the International Partnership Network,
looking to expand their offering, introducing
which will provide connections to foreign
new products lines like Home & Deco and
markets like France and Germany.
financial solutions like ”buy now, pay later,”
One problem that everyone at the event
everyday products, which means they must
having a big impact on costs. Before the pan-
ensure that they have the capacity to cover
demic started the market was in great shape,
these new orders. But since the only constant on the market
companies are being forced to increase prices
is change, companies must learn to be
for products and services. Even IKEA, who is
flexible, if they haven’t already. Omnichan-
famous for keeping its prices low and stable,
nel marketing means a close relationship
announced that would have to increase them
between retail shops and logistics-delivery
by 20 to 30 percent.
players. Today, online shopping is at 9 per-
For couriers, the impact of inflation can
Lucian Baltaru, CEO at Sameday “We are operating in Romania and Hungary. There are of course some challenges with cross-border deliveries, but we’ve learned to manage them quite well.”
Stejara Pircan, Senior VP at eMAG “Last year we celebrated the 10 year anniversary of our Marketplace platform. The business grew significantly in the last two years: it now accounts for 60 percent of all eMAG sales.”
cent of total shopping, whereas it accounted
be counterbalanced by more sales. A higher
for only 5-6 percent in 2019, but there’s still a
number of orders means more deliveries,
lot of growth ahead, especially since Roma-
leading to better prices for those deliveries.
nia is now on the regional hub map alongside
At the same time, allowing customers to
the Czech Republic, Hungary, and Poland.
pick up packages from a delivery point is a
Raluca Radu, Country Manager at Answear Romania “We are expecting e-commerce to continue growing in 2022. Last year our sales doubled compared to 2020 and this trend will continue this year, too.”
supermarkets are receiving more orders for
mentioned was inflation, which is already
with low prices and high demand, but today,
Jarosław Sliwa, CEO at Cargus “Market competition brings great benefits to customers. The intense competition between players on the courier market leads to services getting better and better.”
Omnichannel means that retailers must
great way to reduce delivery times and give
be everywhere the customer is: online, in
customers more flexibility. But the industry
malls, in shopping centres, etc. And all these
still needs a lot of investment in order to
changes are forcing offline shops to become
cover the expansion of the customer base.
more modern and provide more ways of
Adrian Mihai, CEO at FAN Courier “Couriers and customers have grown quite close, especially when we’re talking about customers who make frequent orders. Some couriers even know what kind of coffee customers like.”
www.business-review.eu Business Review | March 2022
32 RETAIL
communication with their customers. For
before 2020 to continue. Even if a company
companies like Hervis Romania, it is impor-
has a solid team today, it will certainly need
tant for communication channels to reach
more specialists in the future, and with so
future customers, since young people are the
many new jobs being created by digitaliza-
store’s main target.
tion, the education process must never stop.
Industry trends point to two concepts Cristi Movila, Eastern Europe GM & EMEA SVP at VTEX “The speed at which the market has grown has not been matched by the development of education in the industry. It is difficult to find specialists to cover open job vacancies.”
Viorel Vasile, Cards Unit Director at Alpha Bank “In terms of payment behaviour, online has been the star in recent years. Starting with February 2020, we’ve seen a major shift from traditional to online transactions.”
being on the rise: retail parks and regional malls. These represent mixed-projects in the
PANEL 3: DRS: ROMANIA’S MOST IMPORTANT SUSTAINABILITY PROJECT TO DATE
real estate industry, and they are designed to
The Deposit Return System (DRS) is seen
give customers everything they want. They
as Romania’s biggest and most important
are places where families can shop, but also
sustainability project of the past 30 years,
enjoy some entertainment, and at the same
and not just from an investment perspective.
time they need to be close to home or work.
Educating the public and raising awareness
“Coffee shops are now turning into remote
of this issue will be paramount in the near
offices, while food courts are being used as
future, in order to create a fair and functional
libraries,” said Sebastian Mahu, Head of Asset
system. “DRS could change Romania in
Management at Iulius.
terms of how we treat our packaging and the
Focusing on the customer also means upgrading old industrial and shopping places
the potential to create a functional circular
to today’s standards. The pandemic has been
economy in our country,” said Ionut Georges-
good for those who decided to start renova-
cu, Founder & CEO at FEPRA, during the
tion projects, so shopping areas are now even
third panel of the re:Focus on E-commerce,
friendlier in terms of customer experience. It
Retail & Logistics conference.
all gets combined with online shopping, but
Georgiana Iancu, Partner & Leader of the Indirect Tax Department at EY Romania “Customer centricity is the core driver of all retail companies’ strategies. Sustainability is ranking higher among consumer interests, which puts a lot more pressure on sellers.”
Catalin Pozdarie, CEO at Hervis “We need to find the best communication channels to reach young customers, as they will be our target audience in the coming years.”
However, from a logistics perspective, the
there’s still a need for a showroom, where
DRS seems like a herculean task, considering
customers can touch and feel the products
how many stakeholders have to be involved
they’re interested in. The logistics industry
to create a working system. According to Ju-
is not only modernising its spaces, using
lia Leferman, General Manager at the Brewers
automated robots and machines, but also
of Romania Association, the DRS could be
expanding, since every EUR 1 billion of new
biggest environmental project in Romania,
sales requires about 100,000 square metres
and making it functional will require lots of
of warehouses.
energy and resources. “By the end of 2025,
What’s more, a number of manufacturers
many changes will have to occur across the
are considering moving production facili-
entire chain, starting from producers, be-
ties that are now in Asia back to Europe. The
cause it all starts with them.”
delays in shipments, rising costs, and various
Geanina Ungureanu, Senior Asset & Leasing Retail Manager at IMMOFINANZ “Every retailer now has at least some online activity, but they still need a physical space to present their products. Retail parks have proven to be a safe bet for developers.”
waste that results from it. This project has
Producer responsibility is crucial in imple-
shortages (such as the semiconductor crisis)
menting a system that doesn’t just tick off
are forcing companies to look for closer-to-
some recycling quotas on paper, but actually
home spaces to produce their goods. This
creates new packaging out of collected waste
situation creates opportunities in the entire
and closes the circle for that material.
Central and Eastern Europe region, including in Romania. Trade routes are important for big retail-
“The DRS has to do with the entire circuit of the used package. The producer is the starting point, but we also need functional
ers in terms of commercial spaces. Auchan,
collection facilities for retailers. It’s very
for example, has plans to open 61 proximity
important to create convenient mechanisms
shops in the next five years, most of them in
for consumers, to make the system as easy
towns located on the route between Con-
as possible. This means we need to create a
stanta and Hungary, as this route will become
nation-wide system that will enable consum-
more important for transportation in the
ers to recover the deposit wherever they can,
coming years.
and that will create an entire logistics net-
Asked about the workforce and the issues
work for the recovery of the used packaging
they face in hiring qualified employees, all
consumers bring to collection centers, which
speakers at the event said that it was impor-
will end up at recycling centres,” Leferman
tant for education projects that were started
explained.
www.business-review.eu Business Review | March 2022 May 2016
COVER RETAIL STORY 33 14
In Romania, beverage producers work with around 120 distributors to move their products across the supply chain and reach final consumers. Those distributors use around 3,500 vehicles, which often come back empty. Utilising those empty vehicles might be one solution to solve the DRS logistics riddle, Ionut Georgescu suggested. The DRS will serve a very specific market, that of beverage producers, but it will not solve all of our problems; it will only stream-
Tiberiu Teleanu, Expansion & Asset Management Director at Auchan Retail Romania “Online shopping and real estate go hand in hand, and they will continue to do so in the future. It is important for us to have as many contact points as possible with the client.”
Ionut Georgescu, Founder and CEO at FEPRA “Returnable and collectable packaging represents 30 percent of the total packaging on the market, which represents 10 percent of the total waste being collected.”
line one of several collection pillars,” said Alice Nichita, President of the National Soft Drinks Association (ANBR). In Romania, around 7,000-10,000 retail units account for nearly 35 percent of national consumption. In this context, how do retailers view the Deposit Return System—as a burden or a relief? Emanuel Parvulescu, Head of Environment at Cora, tried to answer this question. “It’s definitely an advantage for us, it’s a facility offered to our end-con-
Sebastian Mahu, Head of Asset Management at IULIUS “Romania has relatively modern retail spaces, with most of its retail stock having been built after 2000, and the supermarket is no longer the main anchor.”
Julia Leferman, General Manager at the Brewers of Romania Association “8 out of 10 Romanians say they are willing to return product packaging. There is a big difference between intention and action, but we can do things to incentivise that action.”
sumer. The system will become the biggest private investment in waste management in Romania. To become operational, it needs to have the ability to efficiently collect large quantities of packaging waste from consumers, and this will benefit the entire chain: from citizens to manufacturers, from retailers to state authorities.” Romanian authorities should clearly state the fundamental principles of the DRS, but those principles should be decided upon
Tudor Iuga, Senior Consultant Industrial & Logistics Services at CBRE Romania “Romania’s presence is growing on the map of regional hubs. We are competing with markets like the Czech Republic, Hungary and Poland.”
Alice Nichita, President of the National Soft Drinks Association “In order to be compliant with the state scheme for deposit and return system, we’ve had to set up two new associations, which should be operational by May or June.”
thourgh consultation with all stakeholders. “Apart from challenges related to investments and logistics, there are also legislative aspects to clarify. Each day we run into new obstacles that must be addressed,” said Cosmin Teodoru, a representative of the Romanian Environment, Waters, and Forests Ministry. “As a producer, considering the specific context of our country, I believe it will be
Cristiana Fernbach, Partner at KPMG Legal “E-commerce has grown exponentially over the past two years, but we must also acknowledge the fact that it raises new challenges.”
Bogdan Purcherea, Managing Director at Envipco Holding “When it comes to returning packaging, we should start with the things that are known to work, some of which are easy to implement: vouchers would be a good example.”
very difficult to achieve the planned 65 percent collection rate. We are trying to contribute through our waste collection reverse vending machines, which are fully automated and high performing. In Brasov, for example, we are collecting nearly 1 million packages now, and citizens are getting used to the system and understanding that it benefits everyone,” says Bogdan Purcherea, Managing Director at Envipco Holding.
Cosmin Teodoru, General Director at the Environment, Water and Forests Ministry “Some of the legal responsibility for DRS stays with the company’s shareholders, and it is separate from the responsibility of the producer.”
Emanuel Parvulescu, Head of Environment at Cora “We will soon propose a new model for DRS that will work for everyone involved and meet the standards imposed by legislation.”
www.business-review.eu Business Review | March 2022
34 CULTURE
Rural culture crops: preserving the cultural life of Romania’s countryside Courtesy of the National Institute for Cultural Researchand Training
Last month, the National Institute for Cultural Research and Training (INCFC) launched The Atlas of Culture, a study that aims to expand the mapping of the sector. Following this endeavour, the Institute set itself an important objective of creating an atlas that would provide comprehensive cultural information, along with a long-term course of action and established training teams. Business Review talked to assoc. prof. Ph.D. Carmen Croitoru, the General Manager of INCFC, about the cultural life of the countryside. By Oana Vasiliu Can you briefly introduce The Atlas of Culture, its vision, and context?
Community centres are essential elements
modernised through grant programmes. At
of public cultural infrastructure in Romanian
the same time, most local public spending on
Almost every study generated and published
rural areas, along with communal libraries.
cultural establishments is intended for the
by the INCFC seeks to complete a huge cul-
More than a century after the first cultural es-
renovation of buildings, to the detriment of
tural puzzle that still has many untouched or
tablishments appeared, the network has been
proper staffing and hosting of cultural activi-
even unknown areas. It is therefore no acci-
extended to most of rural Romania, carrying
ties.
dent that the first study we decided to publish
out or hosting cultural activities.
out of the Atlas of Culture series had to do
In 2018, Romania had 6,365 buildings
collection, inventory, and structuring, fol-
identified as active and 1,381 (22 percent) as
The report has found that cultural services in rural areas are inadequately staffed. What solutions are there to cover this deficit?
lowed by a mixed methodological approach—
inactive (non-operational, un-renovated,
Only around 40 percent of territorial admin-
both quantitative and qualitative—The Atlas
unused). And while community centres are
istrative units have a human resource who is
of Culture – 1st edition. Cultural establish-
spread across 94 percent of Romanian mu-
specialised in the cultural field, i.e. a cultural
ments in rural areas aims to assess the state
nicipalities, very few of them actually operate
rapporteur or librarian who can coordinate
of culture by following aspects such as the
for the benefit of the community as cultural
the activity of the local community centre.
level of distribution of cultural infrastructure
institutions. The lack of a suitable space for
Moreover, many community centre manag-
elements; expenditure and investments by
cultural activities fragments the relationship
ers, even those with a cultural background,
local public authorities in culture; profiles of
between cultural establishments and citizens
often also perform other tasks within the local
community-level cultural leaders; and the
and creates distances that are difficult to
public administration.
specificity of cultural events.
recover later.
with the cultural life of the countryside. Based on a broad process of statistical data
that functioned as rural community centres. Of these, 4,984 buildings (78 percent) were
The study is a wake-up call for authorities who are responsible for access to culture and it seeks to provide support for the promotion of public policies on culture in rural areas.
The Atlas of Culture starts from an existing rural infrastructure element: community centres. What do these institutions represent for Romanian villages and what else did you learn about them through your research?
The first solution we’ve identified was linking up educational strategies in secondary
Have there been recent investments in rural cultural infrastructure? How many community centres need either partial rehabilitation or a complete facelift? Between 2007 and 2018, only 38 percent of
and higher education (Humanities and Arts) to make sure that young professionals are offered opportunities for cultural placements in rural areas. Facilitating regular access to continuing
territorial administrative units made invest-
vocational training programmes for cultural
ments in the infrastructure of community
staff and formally trained specialists for com-
centres through available grant funding
plex cultural intervention in rural areas, with
programmes. As a result, only 18 percent of
all the social implications of these processes,
community centres have been renovated or
would also be very helpful.
www.business-review.eu Business Review | March 2022
CULTURE 35 measures to avoid the over-instrumentation
preservation of existing heritage, but also the
of cultural education can encourage citizen
or use of cultural funds and infrastructure for
nurturing of developments in the field.
involvement in the cultural activities of
electoral purposes, as well as to consult local
Last but not least, prioritising the funding
communities regarding the spending of public money on cultural initiatives.
What does “rural” mean for you? What do rural areas in Romania share with those in other countries in Europe and what are the key differences?
Some international forums mention rural areas as creative spaces, with opportunities anywhere from renewed agriculture to the arts. Is this the case in Romania, too? Are villages where people have invested in new agricultural tools more open to cultural development? As cultural heritage is such a multifaceted field, even the smallest investment in a multitude of areas will have a positive impact. For those of us operating in the cultural sector, it’s
By definition, a rural space is
clear that investments in various fields that
any type of place that cannot
are relevant for rural areas have positively
be described as urban. But
impacted cultural development.
rural areas are much more than that. Before the indus-
this day clings to the fundamental aspects of
In terms of global trends, many artists are pursuing exploratory journeys that take them back to their roots. Have you noticed this type of approach towards the Romanian village?
who we are and where we come from. Rural
According to the INCFC’s documentation,
communities need are strategies that enable
spaces in Europe, be they ours or those of our
more and more cultural and creative profes-
primary education institutions, the church,
neighbours, are very similar in the sense that
sionals have been moving to rural areas in
and the community centre to join efforts in
they represent the foundations of cultural
recent years. For this reason, cultural commu-
order to prevent irrecoverable social gaps.
development—our origins, if you will. Other
nities have begun to take shape around these
More specifically, we are signalling the need
European countries have already begun to
artists’ initiatives. Though this is not included
for the adoption of a public policy for rural
consecrate rural spaces as living beacons of
in official statistics on cultural communities
culture that takes into account the opportuni-
cultural heritage. Romania is in the process of
in villages, it is undoubtedly positive and
ties and huge potential of this type of struc-
catching up to these other countries, as this
contributes to the revival and regeneration of
ture. The same public policy should provide
is the way forward in ensuring not only the
the rural world through culture.
trialisation of the early 20th their communities, especially among young
century, Romania was all rural. Our culture
people.
is rooted in the rural environment that to
Are there any specific public policies for culture in rural areas? What models could be transferred to the Romanian countryside? Even after the adoption of legislation regarding cultural establishments (in 2003 and 2006), there are still legislative gaps concerning the role of cultural establishments and the need for a proper work plan for the training and qualification of specialist staff. These gaps have been doubled by local government’s failure to implement existing legislation, thus affecting the status, authority, and activity of cultural establishments within communities. Our plea focuses on the idea of formulating coherent and sustainable development policies that include basic social, educational, and cultural elements, which should be implemented by institutions that are able to turn these policies and strategies into reality. It is not that complicated, because all these
www.business-review.eu Business Review | March 2022
36 ARTS
Building legacy through art To mark the International Women’s Day on March 8, BR is celebrating extraordinary women working in the creative and cultural fields, all of whom are true ambassadors of Romanian values and great examples of how people with vision can change communities. By Oana Vasiliu ANNA MARIA POPA, GENERAL MANAGER OF THE ANDREI MURESANU THEATRE (TAM), SFANTU GHEORGHE, COVASNA COUNTY Born and raised in Sfantu Gheorghe, Anna Maria Popa graduated from the acting department of the University of Theatre and Cinematography. She has been the general manager of TAM since 2015, having had a similar role previously as the executive director of the Arca Theatre. TAM has become an important landmark on the local cultural map since her appointment as general manager, and people there have fully explored their creativity during the pandemic. They’ve invented things, used new means of expression, looked for new solutions, and even created the first VR theatre experience in Romania—because the show must go on regardless of obstacles.
MAIA MORGENSTERN, GENERAL MANAGER OF THE JEWISH STATE THEATRE IN BUCHAREST Maia Morgenstern is a Romanian film and stage actress, but also the general manager of the Jewish State Theatre in Bucharest. She is best known for portraying the Blessed Virgin Mary in Mel Gibson's movie “The Passion of the Christ.” The role required her to speak Aramaic, but just like other actors who were cast in the film, she simply memorised her lines phonetically. Her career has meant hundreds of film and theatre roles, but also radio theatre and TV performances. In 2012, Maia Morgenstern became the manager of the Jewish State Theatre in Bucharest, a position in which she dedicates her experience, energy, and passion to saving Yiddish culture, tradition, and civilisation, maintaining a focus on education and recent history.
IOANA CIOCAN, DIRECTOR OF ART SAFARI Ioana Ciocan is an independent curator and the director of Art Safari Bucharest, the vice-president of the Union of Fine Artists in Romania, and a member of the Scientific Council of the Cotroceni National Museum. In 2015-16 she was part of the Curatorium team, who developed the bid for Bucharest 2021 European Capital of Culture. Ioana is also the initiator and coordinator of several art programmes in the public space, having curated many different art exhibitions. She is also a regular speaker at various conferences regarding art in public spaces and curatorial practice, a member of specialised juries, and an associate editor for Arta Magazine.
SOPRANO VIRGINIA ZEANI Known as one of the brightest stars of Romanian opera and beloved by critics and audiences alike, Zeani has paved the way for many Romanian singers and is now a distinguished teacher. Zeani’s singing was unusual in that she was able to achieve a complete integration of bel canto vocal accuracy and verismo expression, giving her interpretations great dramatic power without sacrificing musical priorities in any way. Zeani retired from the operatic stage in 1982, but she and her husband Nicola Rossi Lemeni began to teach singing at the Indiana University music school in 1980, and she continues to inspire young talents today.
www.business-review.eu Business Review | March 2022
ARTS 37
CODRUTA VULCU, FOUNDER AND DIRECTOR OF ARTMANIA Codruta Vulcu is the Director and Founder of the ARTmania Festival, East European Music Conference & Showcase Festival, Blaj aLive Festival, and Romanian Music Export, and the vice president of AROC (the Romanian Association of Promoters of Concerts and Cultural Events), with a seventeen-year long career in the artistic sector and a rich event portfolio that includes the logistics and operational planning of the official ceremonies held in 2019 by His Holiness Pope Francis on the Field of Liberty in Blaj, Romania. Last year, Codruta Vulcu received the Excellence and Passion Award at the European Festival Awards (EFA), and back in 2019 she received the award in the Best Small Festival category for the ARTmania Festival.
ANDREEA IAGER TAKO, CO-FOUNDER OF AMBASADA TIMISOARA Ambasada is a brand under the Casa PLAI Association, a social enterprise developed as a way to incubate and increase the impact of local, national, and international doers. Andreea is the co-founder of this mix of social impact, culture, free space, professional services, and mediation between different realities and industries. Currently, Ambasada is part of a new and ambitious initiative, the Faber.community, which is dedicated to creative endeavours. Moreover, the team behind Ambasada established themselves as significant players in the city, taking lead roles in the bid for the 2021 European Capital of Culture, which has been postponed to 2023, as well as in developing the city’s cultural strategy.
WRITER NORA IUGA Nora Iuga is a poet, writer, and translator who was born in Bucharest in 1931. Due to her parents’ extensive touring activities, she spent her childhood in different countries and grew up surrounded by both the Romanian and German languages. Her creative period as a poet began with the publication of her first volume of Romanian poetry in 1968; since the late 1970s, she has also been working to translate German literature into Romanian, including works by E.T.A. Hoffmann, Günter Grass, Elfriede Jelinek, and Herta Müller. Among other honours, Iuga has been awarded the Order of Merit of the Federal Republic of Germany. She is a key figure in literature, but also widely recognised for her contribution to fostering cultural exchange, especially between Germany and Romania.
FILM PRODUCER ADA SOLOMON Ada is one of Romania's leading producers, having received more than 200 awards at festivals around the world. In 2004, Ada and Avi Karpick founded the Hi Film production company. Since then, she has produced and co-produced over 60 titles with selections at festivals like Berlin, Cannes, Locarno, Karlovy Vary, Sundance, and Sarajevo. She has also co-produced features with partners in over 15 countries around Europe and sold her films in over 50 territories around the world. Among her achievements as a producer are the Crystal Globe for Best Film in Karlovy Vary for “I Do Not Care If We Go Down in History as Barbarians” by Radu Jude, the Berlinale Golden Bear for “Child’s Pose” by Calin Netzer and “Bad Luck Banging or Loony Porn” by Radu Jude, the Silver Bear for Best Director for “Aferim!” by Radu Jude, and many more.
www.business-review.eu Business Review | March 2022
38 CITY
Cultural calendar
By Oana Vasiliu
Lohengrin Opera March 27, Bucharest National Opera
Matei Dumitriu exhibition March 10 – April 9, SUPRAINFINIT Gallery
formed by the SEMPER Ensemble
exhibition of young art organised
and the Trei parale group in the
by The Institute and DIPLOMA.
Royal Dining Room.
The theme of this edition of Art In Progress is Coming Back to
“A glimpse, approximately” is
Our Senses, and it features the
The Romanian Opera (known as
works of 5 artists from the new
the Bucharest National Opera at
exhibition entails a series of new
generation of creators, brought
the time) debuted back in 1921
works that investigate differ-
together by young curator Iselin
with a beautiful performance of
ent notions of time: a time that
Huluba. The exhibition presents
Lohengrin by Richard Wagner,
includes a beginning and an end,
works of sculpture, photography,
conducted by George Enescu.
a flowing time that can only be
and design by young artists like
Director Silviu Purcarete has
experienced through repetition,
Matei Emanuel, Catalin Velea,
brought Lohengrin back to the
Matei Dumitriu’s first solo show at Suprainfinit Gallery. The
The Batman film From March 4 in all cinemas
Diana Paun, Denise Lobont, and
Romanian stage, with Daniel
time from the past that is just ap-
The Batman is a 2022 American
Maria Mandea. They will pres-
Magdal and Iulia Isaev in the
proximately sealed off from the
superhero film based on the fa-
ent their works in a conceptual
leading roles and Tiberiu Soare as
perceivable present, and a time
mous DC Comics character. Pro-
exhibition, exploring current
conductor.
like a creature, which is just as
duced by DC Films, 6th & Idaho,
issues related to our connections
much personal as it is temporal.
and Dylan Clark Productions, and
to ourselves, our senses, and the
The opening is synchronised with
distributed by Warner Bros. Pic-
outside world.
#DOIJOI, the latest collaborative
tures, it is a reboot of the Batman
initiative on the Romanian art
film franchise starring Robert
scene, which takes place on the
Pattinson as Bruce Wayne/Bat-
second Thursday of each month
man alongside Zoë Kravitz,
as part of an extensive after-work
Paul Dano, Jeffrey Wright, John
programme of contemporary art
Turturro, Peter Sarsgaard, Andy
spaces.
Serkis, and Colin Farrell. Set in
simultaneity, and contingency, a
Pink Martini concert April 9 & 10, Sala Palatului & Fratelli Studios
Construct Ambient Expo March 24-27, ROMEXPO
his second year of fighting crime, the film sees Batman uncover
For those looking to facelift their
corruption in Gotham City while
homes and gardens, Romexpo is
Pink Martini returns to Bucharest
pursuing the Riddler (Dano), a
hosting construction, furniture,
with two concerts, postponed
serial killer who targets Gotham's
thermal, and gardening and flow-
from their initial dates in 2020.
elite. The Batman was delayed
ers fairs during a single weekend.
The 12-artist band, performing
twice from an initial June 2021
The simultaneous events are
in no less than 25 languages,
release date due to the covid-19
CONSTRUCT - AMBIENT EXPO
takes you on a musical adventure
pandemic.
– an international fair of tech-
around the world, playing every-
nologies, equipment, machinery,
thing from pop to jazz and clas-
construction materials, interior
sical music. The inspiration for
and exterior design; ROMTHERM
their repertoire comes from the
– an international exhibition of
Hollywood musicals of the '40s
place on Sunday, March 20, from
Art In Progress_2. Coming Back to Our Senses March 18 – April 9, Combinatul Fondului Plastic
installations, heating equipment,
and '50s, combining a variety of
7 PM, with French baroque music
The second edition of Art In
cooling and air conditioning; and
genres in a modern and eclectic
and old Romanian music per-
Progress is a multidisciplinary
MOBILA EXPO – a furniture fair.
composition.
International Francophonie Day Until March 20, MNAR
To mark the occasion, several guided tours are available at the museum, and a concert will take
