BR/03/2022

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