Petmall merges with distributor after posting strong growth in 2024
The Bulgarian pet retailer is pursuing national expansion and plans to venture into neighboring markets. GlobalPETS learns more.
Even though the specific date is yet to be made public, in January 2025, Petmall is merging with its distributor, Petfoodtrade, to form one entity to improve efficiency in the local pet market.
“By combining retail expertise with distribution capabilities, the unified company is well-positioned to lead the Bulgarian pet industry and explore opportunities for international expansion,” explains Petmall CEO Nikola Ninov in an interview with GlobalPETS.
The combined operation has a projected revenue of лв26 million ($13.7M/€13.3M) in 2025 and over лв32 million ($16.9M/€16.4M) in 2026.
More shops planned
Petmall operates 16 brick-and-mortar stores nationwide and is the country’s largest online pet supply shop.
According to Ninov, the merged company plans to open between 4 and 7 new stores in 2025, all designed in “larger formats.” Currently, its largest location is a 400 sq m store.
GlobalPETS learned that the Sofia-headquartered retailer is in advanced negotiations for at least 5 new retail spaces, which are set to open in 2025 and 2026.
The company is also looking to expand its footprint in new countries. Ninov says they are looking to start operations in Greece, where the competition is “light,” as well as Romania and North Macedonia.
Financial update
Petmall’s retail operations recorded лв13 million ($6.8M/€6.7M) in revenue in 2024, up from лв9.36 million ($4.93M/€4.79M) in 2023.
This 39% growth rate resulted from the opening of 3 new stores, one of them through a partnership with supermarket chain Kaufland. Each location saw double-digit growth year-on-year (YoY), with an increased performance online as well.
The company says that its profits were helped by a subscription model – the only one in Bulgaria’s online pet space – which makes it easier to become a repeat customer.
Petfoodtrade, the distributor, posted лв7.9 million ($4.15M/€4.04M) in revenue in 2024, up from лв6.68 million ($3.51M/€3.42M) in 2023, an 18.3% YoY growth.
Bulgaria’s pet industry has been expanding for years, and further development is expected. According to Statista, the pet food market is anticipated to grow at a compound annual growth rate of 3.32% between 2025 and 2029. Revenue in the market currently stands at around лв198.8 million ($104.7M/€101.65M).
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