Benetton closes all its own stores of Romania

ChemCo, the agent of Italy's Benetton brand for Romania, Hungary and Bulgaria, which during the 2005-2009 period opened 13 stores domestically, dropped its Romanian business, after having shut down all the stores it held on this market by June. "The last two stores, the outlet in Fashion House Militari and the store in Vâlcea were closed in June. The only Benetton stores left are franchises," stated a representative of ChemCo, the last one still in Romania to deal with some accounting issues. Besides its own stores, Benetton has over the past year granted a franchise for stores under the United Colors of Benetton brand to five distinct companies, in Braşov, Bucharest, Timişoara, Cluj and Constanţa. At present, only three stores are still operational, in AFI Palace Cotroceni Bucureşti, in Complexul Magnolia of Braşov and Complexul Comercial Tom of Constanţa. Benetton has not entirely given up the Romanian market, preferring to keep the production facility in Iaşi managed by Benrom, through which it manufactures semi-fabricated textiles.