Manfreda leaves Stefanel to develop Sasch store network

Lucio Manfreda, who had run the domestic operations of Stefanel apparel retailer for eight years, left the position of chairman at the company to develop Sasch, a new Italian apparel brand on the Romanian market. The plan laid out by Via Firenze Trandy, Sasch exclusive distributor in Romania, whose majority shareholder is the parent company of the brand, entails the opening of 15 stores countrywide in three years, more stores than Stefanel has opened in its eighteen years on the Romanian market. Sasch products, competing with Zara and Mango, target medium-income clients and will generate 1.2m-euro turnover in the first year in Plaza Romania. The first store, opened in Plaza Romania, takes up 250 square metres area and required a 650,000-euro investment. "The next store, which will be opened in Bucuresti Mall, will have 300 square metres and will generate sales of around 1.5m euros in the first year. An upbeat scenario shows the around 1.3m-euro investment in the two stores will be recouped in three years. According to a downbeat scenario, we'll break even in five years," states Manfreda. "We plan to open four stores per year, two in each season, so that we may reach 15 in three years," says the company's managing director.