Germany's Deichmann group, one of the leading footwear retailersin Europe, almost doubled its business in Romania in 2010, posting115.98 million lei (27.4 million euro) turnover, at a time when theeconomy continued to decline, consumer spending dropped by 5.3%according to the National Statistics Institute, and the companyopened 15 new stores.
While a number of retailers were closing up shop, the Germanretailer bet on expansion during crisis, when rent went down andcosts for store openings in turn fell. At an average investment ina Deichmann store of 600,000 euros, according to ZF estimates, theretailer invested about 9 million euros in openings lastyear.
Deichmann plans to continue expansion on the Romanian market in2011, as well, when it has 10 new stores planned, especially withthe turnover having doubled every year since arrival on thismarket.
Deichmann owns 36 stores in Romania, with only five of them inBucharest.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
