High Fashion Concept company, which owns Victoria 46 luxury boutique in downtown Bucharest, is going to open, in one month, in Baneasa Shopping City, two stores selling apparel and accessories for children and teenagers in the wake of investments worth around 80,000 euros.
"The Day & Night teenager apparel store has a 120-sqm area and will sell brands such as Dsquared, JBrand, Love Moschino, McQ, Juicy Couture or Marc by Marc Jacobs. In the 50 square metre Petit children's store we'll bring Baby Dior, Miss Blumarine, Cavalli Angel or Iceberg brands," stated the representatives of High Fashion Concept.
"Baneasa Shopping City is the only mall in Romania targeting buyers of high and medium high brands. At the same time, the number of customers rose by as much as 15% in the shopping centre in northern Bucharest from the end of last year, and the Baneasa passageway will also be finalised in autumn, so that we expect traffic fluidisation and thus our reaching customers who have so far avoided the overcrowded area," said the company's representatives.
The company's strategy to expand its portfolio, which so far includes only luxury brands for women and men, comes in the context where there is no other store at present targeting this niche and selling these brands.
Victoria 46, the first luxury boutique of Romania, was launched by Solmar Trading Group, two years ago, a Greek company domestically managed by Irina Radu and owning 12 brands, among which Mango, Promod, Castro, Parfois, Oasis and Karen Millen. The store was in the first half of the year transferred to a new unit and is going to be managed through High Fashion Concept. The same company will also operate the two shops in Baneasa Shopping City and plans to launch a store selling luxury products for men in the second half of 2009.
As regards the crisis impact, the company's representatives say sales are relatively stable, but the number of customers is below that of 2008.
The company expects to account for 70% of the luxury market in three years, with turnover to climb to 10m euros.
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