Einvestment Fund: eMarket Store to Be Shut Down with the Start of Mass Vaccination in Europe

Due to the start of mass vaccination in Europe, Einvestment Fund shuts down the anti-viral electronics business, which reached €13.3 million in annual revenue.
2021-02-02 10:37 871

LISBON, Portugal, Feb. 2, 2021 /PRNewswire/ -- Einvestment Fund has decided to shut down its anti-viral devices business, eMarket, due to the beginning of mass vaccination around Europe. This decision was made because the business was primarily created for the sake of the holding's contribution to tackling the impact of COVID-19.

eMarket showed outstanding results, with its annual revenue reaching €13.3 million. In under a year, the store sold more than 110,000 devices in 26 countries globally. Around 85% of the goods were sold via the network of local distributors around European countries, where the devices were fully certified and received a CE mark. The remaining 15% were sold in the Asian market.

"Revenue has always been a secondary purpose for the eMarket store as it's a part of our socially responsible investing strategy for so stressful 2020. We are shutting the project down because the situation starts to stabilize and vaccination begins. We are happy that the coronavirus threat is getting closer to  disappearing. This will restore peace around the globe, positively affecting global economies, and, therefore, our investment products." – says Einvestment's Executive Director, Martha Vodvik.

The fund doesn't exclude the possibility of restoring eMarket's operations. It may be enriched with an updated stock. Currently, the fund is researching and analyzing product categories that are going to boom in the near future.

Source: Einvestment