On May 14th, fifteen years passed since Latvia’s largest company, IT products and electronics wholesaler ELKO Group JSC, had launched its operation.
„On this anniversary, we can look back at our accomplishments with pride and joy. In fifteen years, ELKO has developed out of a team of several enthusiasts into one of the most influential market participants in all of Eastern Europe. All this, of course, would have been impossible without the goal-driven and perseverant teamwork throughout all these years. Today, when we celebrate our anniversary, we want to once again thank all the people who have accompanied us throughout these years, and hope to reach even higher development figures and levels of achievement”, this is how ELKO Group president Egons Mednis describes the company’s anniversary.
The beginnings of this company’s activity date back to 1993 when, thanks to the initiative of four young Latvian entrepreneurs, LTD „ELKO Riga” was founded. The initial aim of the company was to offer IT products to Latvia’s retailers, which were not widespread in the Latvian market at the time.
Over the course of fifteen years, the company has developed swiftly and purposely, setting up subsidiaries in Lithuania and Estonia within a year of its own founding. In the second half of the nineties, the company gradually extended operation ever farther beyond Latvia’s borders, setting up subsidiaries in a number of Central and Eastern European countries, as well as starting work in the Russian and Ukrainian markets. It is a curious fact that an order for about $30,000 was considered a large deal in the first few years of the company’s operation. Today, ELKO Group routinely makes deals at a scale which amounts to about $10 mil.
ELKO Group JSC was founded in 1993. The main aspect of the company’s business is wholesale of computer equipment and electronics in the Baltic States, Central Europe and the CIS. The company represents around 70 manufacturers and sells their products to more than 6,300 retailers, local computer manufacturers and systems integrators. ELKO Group offers over 7,000 products made by the world’s best-known suppliers: „Acer”, „Intel”, „Seagate”, „Samsung”, „Sony” and „Western Digital”. At the moment, ELKO Group employs a total of 330 people. The company belongs to several private persons, alongside with investment funds „East Capital” and „Amber Trust”.
