| ELKO Group | |
| Type: | Public |
| Foundation: | 1993 |
| Location: | Riga, Latvia |
| Key People: | Egons Mednis (President)Svens Dinsdorfs (CEO) |
| Industry: | Electronics distribution |
| Revenue: | US$1.883 billion (2019) |
| Num Employees: | 1,500 |
ELKO Group (ELKO Grupa AS) is an international, Latvian-based distributor of information technology (IT) and consumer electronics products in Europe and Central Asia.[1]
The company acts as a consultant to partners and as a wholesaler of computer and electronic products.[2] ELKO operates in 31 countries, with sales offices in 13 countries: Latvia, Estonia, Lithuania, Ukraine, Romania, Slovenia, Slovakia, Czech Republic, Hungary, Croatia, Sweden, Poland, and Kazakhstan. The headquarters of ELKO is located in Riga, Latvia.[3] [4]
ELKO is a member of the Global Technology Distribution Council (GTDC),[5] the Exporters Association "The Red Jackets" in Latvia,[6] the Latvian Logistics Association,[7] and the Latvian Chamber of Commerce and Industry,[8]
In 1993, four young entrepreneurs from Latvia founded ELKO Group. In order to reorganize the governance, ELKO created a holding company, ELKO Grupa AS.
In 2005, ELKO Group became the largest company in Latvia by turnover. In 2007, ELKO Group became the first Latvian company to reach US$1billion in turnover.[9] In 2017, ELKO entered the Nordic-region market by acquiring Gandalf, a distributor of computers and peripheral products in Sweden.[10] [11] In 2018, ELKO acquired Absolut Trading Company, a Russian distributor of household appliances and electronics.[12] In 2019, the ELKO Group company WESTech, a distributor of IT products in Slovakia, completed the acquisition of ARAŠID.[13]
The company was listed among the finalists for Distributor of the Year in the European IT and Software Excellence Awards 2020.[14] In 2020, ELKO Group's turnover exceeded US$2billion.[15]