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The Warsaw Voice » Business » February 25, 2011
Business & Economy
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Internity Builds Strong Position
February 25, 2011   
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Internity SA, a Warsaw-based company selling bathroom fittings, fixtures and central heating systems, is planning to expand operations to become the largest consultant in and provider of home furnishings by the end of 2013.

Internity is planning to continue an expansion drive aiming to create a chain of stores. The group currently has six company stores in Poland, and is aiming for 10 by the end of 2013. The project is based on a new system of product presentation combined with newly developed multimedia tools such as a search engine for products sold by Internity. Part of the strategy is Digital Interiors, a company Internity has set up to sell home furnishings to retail customers online. Digital Interiors launched sales in August last year and this year its management board is expecting sales to total over zl.4 million with a net profit of over zl.200,000.

“What we have noticed in the last several quarters is that the significance of online sales has risen sharply, but at the same time transactions conducted online are relatively small, at up to zl.8,000,” said Piotr Grupiński, the president of Internity. “With a growth rate of 50 percent a year, the market is nevertheless interesting enough for us to decide to create a special website, providing comprehensive consulting and sales services. In three years, the website will become one of five most important websites for home furnishings.”

Internity will obtain funds for the project through an issue of shares/bonds scheduled for the first half of this year and estimated to be worth at least zl.3-4 million. The target group of investors are institutions which show interest in the company during three weeks of presentations. During the next expansion phase, to be completed by the end of 2012, Internity is planning to move its assets from the NewConnect market to the main trading floor of the Warsaw Stock Exchange. Funds obtained through issues of shares will be earmarked for further organic development, especially of online and distribution projects. The company may also acquire other companies on the home furnishings market.
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