Elvila group of firms, controlled by businessman Viorel Catarama, posted 5% higher sales in the first nine months of this year compared with the same period of last year. "The third quarter brought an increase of around 10%. So far, our figures are in line with initial estimates. We expect the 10% forecast at group level to be exceeded in 2008," Elvila representatives said. Elvila operates a network of 52 stores, of which seven have opened since the start of the year and at least another two are due to be opened by yearend. The group includes four companies, of which three focus on furniture production. Of these, the company boasting the biggest turnover is Elvila SA, which reported 28m-euro sales last year, slightly down from the 2006 level. At group level, Elvila had turnover worth 112m euros in 2007. The furniture market has not felt the crisis fallout, yet, according to the data reported by the main players. "So far, we haven't felt any crisis effects. However, we could expect the furniture market to stall or even slightly shrink in 2009 amid economic instability and price increases. Our expansion strategy remains unchanged at this moment," added Elvila representatives. In mid-2008, the company announced it targeted expansion with large stores, whilst small stores located nearby would be closed.
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