One of the heirs of Stefanel empire, Carlo Stefanel, was sent bythe family to Romania to implement the changes the group startedinternationally in 2007. Stefanel's plan is to climb another stepto the luxury market, reads BUSINESS Magazin.
Stefanel generated 181.9m-euro revenues in 2009, down 15.4%.Losses deepened to 48.7m euros. Turnover in Romania reached 5.8meuros.
The rumours of the past years about Stefanel have not soundedquite well. The company has focused on a more exclusivist area andis now speaking of a new policy, a repositioning closer to thehigh-end segment.
Having arrived in Romania shortly after the revolution, theItalian brand was one of the first foreign names brave enough toenter the Romanian market. Romania was the first market in theregion the company entered and in the late '90s it had become agenuine development centre in the region.
Meanwhile, the market has become ever more competitive.
Prices in stores will not change, though, stores will only havea new look, ads will be different and so will the models.
For this year, the company expects a slight sales decline, from5.8 to 5.5m euros. Projections for the second half are more upbeat,though. Still, the company is not expecting a quick rebound.
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