The IPEC company, led by the Covaciu family from Alba and one of the key suppliers for IKEA on the local market, recorded a remarkable evolution in 2022.

The company IPEC (Întreprindeea de Porţelan Elena Covaciu), owned by the Covaciu family, one of the main IKEA suppliers on the local market, achieved a turnover of 157.1 million RON (31.8 million euros) in 2022, in 11.8% increase compared to the previous year, according to calculations made by ZF based on data from the Ministry of Finance.

Last year the company had a net profit of approximately 1.6 million lei (341,000 euros), down 19.3% compared to the previous year, when IPEC reported a net profit of 2 million RON (424,000 euros ), according to public data.

The company reached an average number of 525 employees last year.

IPEC is among the world’s largest players in the field of housewares and fine china, with approximately 50 million pieces manufactured annually and shipped worldwide, from Japan to the US, according to previous reports.

At the beginning, a quarter of a century ago, the company’s activity consisted of the production of ornamental and decorative items, produced in small quantities, which were then sold on the domestic market.

The year 1996 brought the first major change in the approach to the sales strategy, the company starting a business relationship with the Swedish concern IKEA, for which it began to produce more and more, from year to year.

Thus, from a small family business, the company began to transform into a facility oriented towards series production, with modern equipment and sales on the foreign market, according to zf.ro.

Source: AlbaPress