Benvenuti footwear and accessoriesretailer in 2010 boasted the best sales since the company's set up,after turnover rose by 31% to 46.2 million lei (around EUR11million) and the company stepped back into the black, according toDan Pavel, the company's founder and majorityshareholder.
"There are several factors thatled to this figure. Firstly, we noticed a rising appetite forfootwear among Romanians. (...)," Dan Pavel says. He adds someinternal measures were also adopted to bring Benvenuti back togrowth. "Even though things have been improving for Benvenuti, Istill believe this is a delicate period. I do not see the crisischapter as being over". However, the businessman expects turnoverorganic growth of 10-20% this year.
In 2009, to optimize the revenue/expense ratio, Pavel cut personnel by 20% and slashed costs alongall departments. Another internal move was to boost the procurementbudget to the level of 2008, after a decline in 2009.
The businessman says he decided totrim the number of expensive products in stores and rely onmedium-price products. "Expensive product demand plunged. ForRomanians, price is still one of the main purchase criteria".
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