Burberry is thus joining Louis Vuitton, Gucci and Hugo Boss on the local luxury fashion market. Using the model already tested by the French giant Louis Vuitton on the ground floor of the Marriott Hotel and by Gucci, on the ground floor of the Athenee Palace Hilton, the store of the British brand will be opened in a five-star hotel, as well.
The explanation for this strategy is that the profile of the target customer luxury stores seek is similar to the profile of the five-star hotel customer.
The brand arrives on the local market via a franchisee, the Global Eye investment fund, which focuses its operations on Romania and other countries in the region. The representatives of Global Eye, held by Sony Mordechai, Dimitris Sabalis, Yiannis Lagos and Bogdan Bulacu, had not provided any details as to when the store was due to open by the time the story was ready for posting.
Burberry is an apparel, perfumery and accessories brand with over EUR1 billion sales a year, profit margins of about 30% and almost 500 stores throughout the world. A Burberry trench coat costs EUR1,500 to EUR5,000, while a dress starts at EUR300.
(English version by Loredana Fratila-Cristescu)