Record number of cheap stores this year

Clothing and footwear discount chains which tapped into the Romanian market in the last four years have opened over 30 stores this year in an attempt to make their way into areas yet untapped by competitors.
Pursuing the same strategy as food retailers, which left hypermarkets far behind, by opening one store every five days as early as in 2009, the Germans at Deichmann and at Takko, which together have 75 stores, doubled their chain last year.
Moreover, French-held Kiabi, which entered the market in the second half of last year, went from two to six stores.
"The main advantage is that we won clients of other more expensive brands, in the wake of the financial crisis. However, our customer target has been the one most affected by the salary declines," Cosmin Ulmean, managing director of Takko Romania, which has 39 stores, 12 of which opened this year. Takko posted 14.9 million euros in turnover last year.
Deichmann sells cheap footwear in 36 stores after it opened 15 stores in 2010, but there are "still many areas that lack coverage", according to company representatives, who admit that customer loyalty is higher outside Bucharest.