Almost every international chain, whether comprised of supermarkets or apparel shops, has entered the Romanian market through the West of the country, after having developed strong networks in countries such as the Czech Republic, Poland or Hungary. Things are radically different when it comes to the footwear retail chain Leonardo.
With more than 50 stores opened in Romania, the Leonardo network has set its eyes on the Hungarian market, where it has come to hold 11 stores. #leadend#
"We opened our first store in Hungary last year and now we have 11 units. The advantage of this country over Romania is its much more developed trade. Every store we opened in Hungary is located in a large shopping centre. Rents are several times lower than in Romania and visitors spend much more on the average," Cristian Angelescu, Leonardo marketing manager said.
According to Angelescu, whereas the market in Hungary is very competitive, the competition in Romania is much less organised. "We only have local competitors, that hold 4 or 5 stores each, while we have 51 stores in 32 cities in Romania. We have 7 stores in Bucharest alone. We target medium-income clients, but they are a "slice" also targeted by electronics and home appliance stores," Angelescu added. The company representatives did not disclose last year's results. According to the Finance Ministry, the 2001 data point to an about $17 million turnover, nearly twice higher than in the year before.
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